Category: Financial Planning

The Economics of a Hole In One

Despite holding an MBA in finance and the CFP certification, the “economics” of a Hole in One are over my head. It is summer, so the topic is relevant – and there have been one or more Holes in One per month for the last year at my golf club. Even pickle-ballers can sound in on this one.

A Hole in One for a golfer – from professional to putt-putt – is a big deal! On a regulation golf course, public or private, there are actual (unwritten but established) rules around the accomplishment ranging from:

  • Tradition since the beginning of time holding that the person scoring the “ace” buys everyone in the clubhouse a cocktail or drink.
  • Local members of golf clubs and friends are known to have driven from home to participate in the “free drink” celebration. (Hold the thought: “free drink”).

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TGIF Meets OBBBA (One Big Beautiful Bill Act) Inbox

The One Big Beautiful Bill, now OBBB Act, was…. big. TGIF 2 Minutes is all about giving as complete and concise a message as possible. There will be follow-ups to the OBBBA, and as one analyst concluded, the “2026 Surprise” will come with “patches” to various wordings and actual applications of parts of the OBBBA, similar to the Secure Act – in particular referencing “patches” that came over time to the Secure Act for required minimum distributions from Inherited IRAs.

The OBBBA is far too BIG to be summarized by any one person. Although several nuggets can be highlighted, followed up by more highlights and so on. Here are a handful of major topics, with brief explanations. These are meant to spur questions and conversations that are relevant and unique to each client and each person.* Also, important – please keep in mind that due to the relatively higher wealth and income of most folks reading today, income phase-outs of lots of these provisions make a number of them less impactful (perhaps a “quality problem” to have?).

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Critical Mid-Year Tax-Related Ideas

Mid-Year is an important time to review several significant saving and spending decisions, possibly affecting taxes too. With just under 6 months remaining in the tax year – there’s still time to make a meaningful difference. Consider:

  • Confirming amounts being deferred pre- or post-tax into 401k and other retirement accounts (and whether to max out?)
  • Evaluating savings goals versus reality
  • If not begun yet, giving savings goals a jump start
  • Quantifying college savings account contributions
  • Creating and funding Trusts

These and other important decisions can be evaluated or adjusted – think of the process as forming goals or “mini-goals”.

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“AI” Is Changing It All

Call it Tech Summer. Last week’s topic was cryptocurrency; this week’s is AI, or Artificial Intelligence. AI is driving markets and businesses with unstoppable speed. Speaking of speed, today’s note will be a short one!

The original title of today’s TGIF 2 Minutes was, “AI is and will continue to change everything“. But that title was too long. A quick request to an AI assistant for a shorter title offered: “AI is changing it all.” Hence, today’s title. PS. the remainder of today’s note is written by yours truly.

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Crypto Quarterly is Back!

Keeping up with developments in Bitcoin and the world of cryptocurrency is challenging, but not impossible. Especially with AI assistants (like Grok or Chat GPT) answers can be attained – literally instantly – to basic and complex questions. Having dedicated crypto experts and research teams on hand is helpful as well!* “Keeping up with crypto” is a relative term. Merely dipping a toe into the water to learn more is a form of keeping up with this evolving space, so go for it.

Here is a term that helps define how different the various cryptocurrencies are from one another: ecosystems. Cryptocurrency is not a single, big chunk of one “thing”. Rather, there are multiple ecosystems and thousands of interconnected cryptocurrencies. Bitcoin is the best-known cryptocurrency, most dominant and most widely accepted for making purchases at this time. Ethereum is another well-known cryptocurrency. Solana is another. Each operates in its own ecosystem and has extremely different qualities.

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Father’s Day & World News

Recent LA and world events – and staying glued to TV & social media news broadcasts – could potentially add a downbeat mood to what is otherwise one of the best-meaning holidays and weekends of the year. Even if Father’s Day does not bring personal good vibes, this mid-June time of the year can be awesome. Consider:

  • It is almost the longest day of the year in the northern hemisphere! Sunrise to sunset, lots of daylight. First day of summer and longest day is coming up on June 20th.
  • The men’s US Open golf championship will be decided this Sunday, Father’s Day! The top 5 players so far do not include the usual famous names…so it could be an exciting finish with a lesser-known golfer making US history!
  • The stock markets, despite volatility, are hanging in there with modest gains year-to-date – and more so if a portfolio was thoughtful enough to have a healthy allocation to non-US equities. Do they report that on the news? Considering previous world events that rocked markets in 2020, 2022 and earlier in 2025, US and global markets recognize the immense advances in artificial intelligence (AI) and the chips and technology that are driving this unstoppable force.
  • What is your favorite food? Might it be peaches? Tomatoes? Blueberries? Watermelon? These items are in season! Even if chocolate or cake is your favorite food, try adding peaches or blueberries. Even the price of eggs is down massively. The news does not report these positive data points in the headlines.

Enjoy the almost start to summer, try to unplug and enjoy the weekend and Father’s Day. Happy Father’s Day to all the great Dads and father figures!

This material has been prepared for informational purposes only and is not intended to provide, and should not be relied upon for, tax, legal or accounting advice

Tariffs, Car Payments & Cell Phones

Tariffs. Car payments. Cell phones. What do these three things have in common? All three are currently on most people’s minds, and two are expensive considerations for every person’s or family’s financial plan.

As for tariffs, the uncertainty around where tariffs, and now also tax legislation, will settle in is on most people’s minds. Tariff “policy” is still in the throes of global negotiation and lack of clarity. Will the US consumer benefit in any way? Will tariffs lead to continued painful inflation in the US? What about future economic relationships between the US and the rest of the world? Much is up in the air. Certain companies and business owners are in flux regarding future investment and decision-making. Meanwhile, overall, employers and consumers seem to be plodding along in a net-net positive direction.

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Mid-Year Tax Tips

The calendar is about to turn to June – and that means nearing the halfway point of 2025. For those contributing to 401k, 403b and TSP accounts, adjustments or tweaks at this time can make a real difference overall for the current tax year and future savings overall.

The most basic considerations are in the dollar amount and tax classification of how 401k/403b/TSP contributions are made.

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Checking in on New Year’s Resolutions

It may be a key time – before mid-year – to check in on goals made back in January. These goals could have focused on saving more or differently, spending reduction or realignment and areas of investment focus and diversification.

How is your progress on certain goals? Can tweaks be made? Can specific ones be scrapped and new goals or ideas formed?

One particular goal from January was something I nicknamed FSP:

“Focus on Saving in order to maintain Patience” – in the event of the inevitable market decline, or volatility similar to that of 2025.

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Pope Francis on “Old Age”

The words of Pope Francis often had very down-to-earth meaning. Here are excerpts from an encouraging reflection, merely two months ago, on “old age” from the late Pontiff*:

“Yes, we must not be afraid of old age, we must not fear embracing becoming old, because life is life, and sugarcoating reality means betraying the truth of things. …Restoring pride to a term [“old age”] too often considered unhealthy is a gesture for which we should be grateful…

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