Wealth and Wisdom: Week of July 28, 2025
- Mike Brown
- Jul 28
- 3 min read
Investors, taxpayers, retirees, CPAs, and the financial markets are all digesting the potential impact of some big new tax legislation signed into law a few weeks back. In this week’s Wealth and Wisdom we take a look at the new law from several angles.
Many significant changes are coming. Some are “permanent” (at least until some future Congress changes them again). Other changes – such as a big increase in the standard deduction for some seniors – will exist only for the next few years. Safe to say there will be plenty of winners and losers from this broad-reaching legislation.
One thing seems clear, however: the One Big Beautiful Bill Act will do nothing to solve the nation’s burgeoning debt crisis – instead adding trillions of dollars to the federal deficit for many years to come.
A new survey says nearly one in four Americans over age 50 plan to postpone retirement plans due to economic concerns. (Reading time: 2 minutes)
80% of Americans who aren’t yet eligible for Medicare worry that the government healthcare program won’t be around when they need it. (Reading time: 3 minutes)
If you’re worried that inflation might derail your retirement spending plan, explore these 10 strategies to protect your portfolio. (Reading time: 4 minutes)
Review these key bullet points to quickly see what impact the new tax law might have on you and your family. (Reading time: 4 minutes)
For starters, it doesn’t eliminate taxes on Social Security – but there are several valuable tax breaks specifically for seniors. (Reading time: 7 minutes)
This section of the new law is already causing a lot of confusion, so get your arms around it before next tax season. (Reading time: 5 minutes)
The top 1% of Americans earn more than 22% of the nation’s income. They also pay more than 40% of the nation’s taxes. (Reading time: 3 minutes)
Nearly 30 years after it was published, the lessons of The Millionaire Next Door still hold true. (Reading time: 3 minutes)
Be inspired by these 10 entrepreneurs who didn’t launch their businesses until later in life – including several tips on doing it yourself. (Reading time: 8 minutes)
Regardless of which political party is in power, the rest of the country is convinced America is in decline. Both sides should take a look at the facts once in a while. (Reading time: 3 minutes)
Words to the Wise
“States will never be happy until rulers become philosophers or philosophers become rulers.”
– Plato, The Republic
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