Living Well, Giving Well: Legacy Planning Insights

A Story of Reflection, Purpose, and Partnership

James and Evelyn, both in their early 70s, had spent the last few decades building a life they were proud of. They raised three children, enjoyed meaningful careers, and were now entering retirement with a sense of freedom—and a growing list of questions.

As they sipped coffee one morning overlooking their garden, their conversations increasingly turned to what came next—not just in terms of travel or hobbies, but how they wanted to be remembered. James had just received a letter about his required minimum distributions (RMD’s), and Evelyn had been reading about qualified charitable distributions (QCD’s). Both had been organizing old files and revisiting their estate plan.

“It’s not just about what we leave behind,” Evelyn said, “it’s about the impact we can make while we’re still here.”

Their story is one we often hear—a couple with more time to focus on family, travel, and passions, while also considering how to align their wealth with their values and legacy. Whether you’re looking to simplify, share, or steward your wealth more intentionally, your 70’s are an ideal time to revisit your financial plan. Here are five areas to focus on to live—and give—with greater purpose.

1. Intentional Giving During Your Lifetime

Giving isn’t just about what happens after you’re gone. Many couples like James and Evelyn find joy in witnessing the impact of their generosity now.

Consider:

• Annual Gifting: In 2025, you can each gift up to $19,000 per recipient without triggering gift taxes. That means James and Evelyn could gift a total of $38,000 to each child or grandchild. These gifts can help with education, housing, or launching a new business.
• Family Gifting Funds: A “family giving fund” invites your children and grandchildren to participate in charitable giving, creating shared values across generations.
• Qualified Charitable Distributions (QCDs): If you’re age 70½ or older, you can contribute up to $108,000 per person—or $216,000 per couple filing jointly—each year directly from your IRA to qualified charities. This strategy allows you to support causes close to your heart while reducing your taxable income.

2. Required Minimum Distributions (RMD’s)

RMD’s are the IRS’s way of ensuring that tax-deferred retirement savings are eventually taxed. Starting at age 73 (or 75 for those born in 1960 or later), you’re required to withdraw a minimum amount annually from accounts like IRA’s and 401(k)’s.

At Gatewood, we help ensure your RMD strategy supports both your lifestyle and your legacy. For James and Evelyn, this meant setting aside what they needed for living expenses, donating through QCD’s, and reinvesting any surplus to align with their future goals.

3. Review and Refresh Your Estate Plan

Your estate plan is your voice for the future. By your 70’s, it’s critical to ensure:

• Your will, trust(s), and powers of attorney reflect your current wishes
• Beneficiary designations on retirement accounts and life insurance are accurate
• Special instructions for healthcare, gifts, or guardianships are clearly documented

We recommend a full estate plan review every three years—or sooner if there’s been a major change in your family, finances, or goals.

4. Simplify and Organize for Your Heirs

Part of good legacy planning is making life easier for your loved ones when the time comes. James and Evelyn decided to:

• Consolidate outdated or unused accounts
• Digitally organize important documents and upload them to Gatewood’s secure client vault
• Create a simple summary of their accounts, contacts, and intentions—so their children wouldn’t have to guess or worry

These steps aren’t just practical—they’re a profound expression of care.

5. Live Fully, With Purpose

Legacy is about more than money—it’s about how you live, what you value, and how you share that with others.

James and Evelyn chose to:

• Travel with intention, visiting places tied to family history and shared dreams
• Create memorable experiences with their grandchildren, like family vacations and storytelling nights
• Volunteer together at a local literacy program
• Mentor younger professionals in their former industries

They realized that living well now is one of the most meaningful legacies they could offer.

Let’s Build Your Living Legacy

At Gatewood, our goal is to help clients go beyond the numbers to live and give with purpose. Whether you need help structuring gifts, updating your estate plan, or simply organizing your financial life, we’re here to guide you.

Your legacy doesn’t start after you’re gone—it begins with how you live today.

Important Disclosures:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes. The purchase of certain securities may be required to effect some of the strategies. Investing involves risks including possible loss of principal.

There is no guarantee a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification

and asset allocation do not protect against market risk.

The information provided here is general in nature. It is not intended, nor should it be construed, as legal or tax advice.  To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision.

Fortress Gatewood: Bear Market Ready, Always. 

When markets drop sharply—like they did in response to the latest Trump tariff announcements—emotions run high, headlines swirl, and investors often make costly decisions. We get it. Downturns feel uncomfortable, especially when they’re fast, steep, or prolonged. 

But here’s what we know from decades of managing wealth through every kind of market cycle: the worst days in the market are often immediately followed by the best. Panic may feel natural—but it’s rarely profitable. 

At Gatewood Wealth Solutions, we don’t just react to volatility. We prepare for it. That’s why every client benefits from our time-tested approach we call Fortress Gatewood—a strategy purpose-built to keep you Bear Market Ready. 

A Strategy Built for Uncertainty 

Rather than try to predict the unpredictable, Fortress Gatewood is designed to weather storms, seize opportunities, and help you avoid panic-driven mistakes. It’s not just a mindset—it’s a structured plan built around time segmentation that gives each dollar a purpose and timeline: 

Moat Ring 1: Cash (Immediate Preservation) 

We recommend clients hold at least 2 years of spending in cash or cash alternatives. This liquidity buffer is your first line of defense—so you don’t have to sell investments during a downturn just to fund your life. 

Moat Ring 2: Fixed Income (Mid-Term Stability) 

We allocate 5–8 years of spending in high-quality fixed income. Bonds act as a second moat, with a goal of offering stability and income while giving your equities the time they need to rebound. 

Moat Ring 3: Equities (Long-Term Growth) 

The rest of your portfolio is positioned for growth, invested in globally diversified equities with a 7–10 year time horizon. This long view helps you stay focused on your goals—not the day-to-day headlines. 

Why This Works—Even in the Worst of Times 

Here’s what history tells us about market declines and recoveries: 

• Dot-Com Crash (2000–2002): -49.1% decline | 7.2 years to full recovery 

• Global Financial Crisis (2007–2009): -56.8% decline | 5.5 years to recovery 

• COVID-19 Crash (2020): -34% decline | Full recovery in ~6 months 

• 2022 Bear Market: -27.55% | Recovery still underway 

With 2 years of cash and 5–8 years of bonds, our clients don’t need to tap into their equity investments during downturns. That means they can remain confidently invested—giving their portfolios the opportunity needed for recovery and growth potential.

Why It Matters Now 

In times like this, when fear creeps in and markets swing wildly on breaking headlines (even false ones), our clients know they’re not at the mercy of the market. They have a strategy, a plan, and a team. Rather than letting complacency take root during the good times at all-time market highs, they set aside profits to strengthen their defenses.  

They’re not guessing. They’re prepared.  

The Gatewood Difference 

While others try to time the market or soothe with empty platitudes, we provide clarity, structure, and a strategy built with a goal to endure. Fortress Gatewood helps you weather volatility, stay aligned with your long-term goals, and build lasting wealth with confidence. 

Because we believe your financial future deserves more than just hope—it deserves a fortress. 

Important Clarification on Life Stage Strategy

Fortress Gatewood strategy is built around aligning your portfolio with your personal time horizon, income needs, and life stage. While the 2 years of cash and 5–8 years of bonds approach is ideal for clients in or near retirement—who are actively drawing from their portfolio—it’s not a one-size-fits-all model.

For younger clients who are still in their earning and accumulation years, we typically recommend a higher allocation to equities and lower levels of cash and bonds, since their income covers current expenses and their investment time horizon is longer. That said, maintaining strategic cash reserves (typically 3–6 months of living expenses) is still critical for emergencies and flexibility.

The core principle remains: structure your portfolio so you don’t need to sell during a downturn. Whether you’re accumulating or withdrawing, Fortress Gatewood adapts to give you confidence and preservation—tailored to your life stage.

Ready to Build Your Financial Fortress? 

If you’re tired of reacting to markets and ready to plan with purpose, let’s talk. Our team can help you build a resilient strategy—one that’s designed with a goal to keep you confidently invested through whatever the future holds. 

Contact us today to see how Fortress Gatewood can support your goals, your confidence in the long-term, and your family’s financial future.

Simple Wealth, Inevitable Wealth: Nick Murray’s Timeless Principles of Portfolio Construction

When it comes to investing, simplicity and discipline often outperform complexity and constant tinkering. Few voices in financial planning have championed this notion more effectively than Nick Murray, one of the most respected minds in wealth management. His philosophy centers on long-term equity investing, behavioral discipline, and the idea that financial advisors are coaches, not market forecasters.

At Gatewood, we embrace many of these foundational principles while adding our own personalized approach to support our clients’ goals in building enduring wealth aligned with their values and purpose.

Nick Murray’s Core Principles of the “Ideal Portfolio”

1. Equities Are the Best Path to Long-Term Wealth
   Murray firmly believes that stocks are the only reliable way to outpace inflation and generate real wealth over time. While cash and bonds may offer short-term stability, their purchasing power erodes in the long run. A well-constructed equity portfolio, in contrast, provides access to the enduring growth of businesses and economies across the globe.

1. Diversification Reduces Risk
   Although equities are central to a strong portfolio, diversification across industries, geographies, and asset classes helps buffer against sudden market shocks. The goal? Avoid letting any single event or sector derail your long-term plan.
2. Bonds Have a Role—But a Limited One
   According to Murray, a traditional 60/40 “balanced” portfolio is not optimal for long-term investors. Bonds, he argues, primarily serve as a psychological cushion. For those with a lengthy time horizon, over-allocating to bonds can actually increase the risk of running out of money in retirement. The risk of a loss of purchasing power is often much greater than the risk of short-term market volatility.
3. Investor Behavior Matters More Than Portfolio Construction
   Even the best-designed portfolio can fail if an investor succumbs to panic. Murray emphasizes that market volatility is not the true enemy—emotional decisions are. Remaining invested through bear markets is the key to compounding wealth.
4. No Market Timing—Ever
   Attempting to forecast short-term market movements is a fool’s errand, says Murray. Rather than chasing trends or reacting to market noise, investors should rely on a disciplined, repeatable process that keeps them invested for the long haul.
5. Retirees Need a High Allocation to Equities
   One of Murray’s more controversial stances is that retirees should still hold significant equity exposure. Why? Because the greatest threat in retirement is inflation. If a retiree’s portfolio does not grow over time, their purchasing power diminishes—often severely—in the later stages of retirement.

How Gatewood Builds On Murray’s Principles

1. Purpose-Driven Investing
   Wealth is personal. Every portfolio we construct at Gatewood aligns with our clients’ values, goals, and long-term vision. Rather than defaulting to cookie-cutter strategies, we develop personalized allocations for business owners, high-net-worth families, and individuals navigating complex financial scenarios. Your portfolio aligns with your overall financial plan and your personal preferences.
2. A Systematic, Process-Driven Approach
   We take the behavioral aspect of investing seriously. While discipline is crucial, relying on willpower alone is risky. Instead, we employ a structured, repeatable process that helps clients avoid emotional pitfalls—particularly during turbulent markets.
3. Enhancing Diversification With Alternative Strategies
   Equities remain the core of our portfolios, but we also incorporate alternative investments and tax-optimized strategies to help mitigate risk and enhance long-term returns. This added layer of diversification complements Murray’s model while adapting it to today’s investment landscape.
4. Planning for the Transition to Retirement
   Rather than defaulting to a blanket recommendation for high equity exposure, we craft personalized withdrawal strategies that consider your income needs, tax exposure, and continued growth potential. A well-constructed equity portfolio provides access to the enduring growth of businesses and economies across the globe.
5. Data-Driven Risk Management
   Discipline matters, but data does too. We use real-time financial modeling and stress testing to keep our clients prepared for the unexpected. This helps keep both your portfolio—and your peace of mind—intact, even in worst-case scenarios.

The Bottom Line: Principles + Process = Success

Nick Murray’s philosophy offers a timeless foundation for building long-term wealth. However, execution matters as much as the theoretical framework. At Gatewood, we pair Murray’s principles with our own strategic process—one designed to guide you through market ups and downs with confidence.

Long-term investing is simple, but that doesn’t mean it’s easy. If you’re looking for a financial partner who blends the discipline of a seasoned advisor with the personalization that real families and businesses need, we’d love to help. Let’s develop a plan that aligns with your purpose, your goals, and your future.

Ready to Take the Next Step?

If you’re ready to explore how these principles can translate into real-life wealth strategies for you or your business, schedule a conversation with Gatewood today. We’re here to help you build, protect, and maximize your wealth—so you can focus on living the life you’ve envisioned.

Important Disclosures:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

Investing involves risk including loss of principal.  No strategy assures success or protects against loss.

There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.

The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.

Government bonds and Treasury bills are guaranteed by the US government as to the timely payment of principal and interest and, if held to maturity, offer a fixed rate of return and fixed principal value

Bonds are subject to credit, market, and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and bonds are subject to availability and change in price

Alternative investments may not be suitable for all investors and should be considered as an investment for the risk capital portion of the investor’s portfolio. The strategies employed in the management of alternative investments may accelerate the velocity of potential losses.

Why Gatewood? Our True Differentiators

At Gatewood, we’ve spent decades crafting an experience so personal and comprehensive that it can’t be easily copied. We believe in a Firm-to-Family model where relationships span generations, backed by in-house investment management, industry-leading technology, and a genuine commitment to excellence and independence. Below, I’ll break down exactly how we stand apart—and why so many families value our insight into their long-term financial well-being.

Competitor Comparison – What Sets Us Apart

 1. One Firm, One Family – Firm-to-Family vs. Advisor-to-Client

“Most firms operate under an advisor-to-client model, where your financial success hinges on one individual. If that person retires or leaves, you’re often left starting over. We do it differently.” – John Gatewood, CFP®, CLU®, Founder & Director of Advisor Development

True Client Ownership by the Firm

Unlike many firms, we don’t function as a set of individual advisors, each claiming their own “book of business.” Every Gatewood client is a client of the entire firm, ensuring smoother transitions and consistent care.

Dedicated Client Care Team

Instead of chasing a single busy advisor, each Gatewood family works with a specialized Client Care Team, including:

• A Wealth Advisor as your relationship manager
• A CFP® Wealth Planner to integrate every aspect of your financial life and provide excellent advice
• A Wealth Coordinator to manage administrative details and daily service requests

Consistent Policies & Seamless Transition

This firm-wide approach standardizes the client experience. If one of your advisors steps away, the rest of the team knows you and your family intimately, ensuring continuity and confidence.

Why competitors struggle to replicate this:

They often operate under big umbrella brands, with disparate advisors who follow different strategies. Shifting to a uniform Firm-to-Family model requires a massive cultural overhaul—no easy feat.

2. In-House Investment Management – No Outsourcing, No Middlemen, No Conflicts

“We don’t outsource your portfolio to an external manager. Our Investment Committee makes decisions internally—so you can talk directly to the people managing your money.” – Christopher Arends, CFA®, CMT®, CAIA® , Chief Investment Officer

Proprietary Strategies

At Gatewood, all investment strategies are managed in-house, backed by a blend of technical analysis, quantitative trends, and daily research. We can trim profits when markets peak, maintain strategic cash reserves, and adapt quickly to shifts—all with your goals in mind.

Direct Access to Decision-Makers

Many firms separate the client from the people who actually pick stocks or structure portfolios. Not here. You have direct access to our Investment Committee to better understand the rationale behind each investment decision. This is your money, not ours. You deserve to deeply understand how we are acting on your behalf.

Why competitors can’t do this:

Either they outsource to third-party managers, or they lean on a centralized, far-off department. Both limit flexibility and create barriers to true personalization. Oftentimes, this comes with conflicts of interest and entangling relationships with fund companies. We believe keeping everything in house is essential to acting as a true fiduciary for the families and businesses we serve.

3. The Cash Hub Account & Dynamic Financial Planning – Smarter Retirement Income

“One of the biggest financial mistakes people make is selling in a downturn. Our Cash Hub approach helps you avoid that trap.” – Christina Shockley, JD, CFP®, Partner & Chief Planning Officer

Strategic Cash Reserves

We generally recommend holding 6 to 30 months’ worth of expenses—depending on one’s life stage and market conditions—to avoid forced selling during downturns. This “Cash Hub” strategy is the backbone of our planning process. Our Investment Committee sets policy for our entire firm quarterly to ensure we are consistently preparing for market downturns.

Dynamic Adjustments

We don’t set it and forget it. Life changes constantly, so our team adjusts your cash reserves in real time. Whether you’re buying a home, funding college tuition, or facing unforeseen events, we integrate new information into your plan continuously.

Why competitors can’t do this:

Some advisors push clients to invest every spare dollar (that’s how they earn fees) and rely on lines of credit for liquidity. Others do static, one-time plans that never get updated. Without ongoing, interactive planning, maintaining an optimal cash buffer is nearly impossible leaving many families unprotected for the next bear market.

4. Industry-Leading Technology Investment – A Major Barrier to Entry

“Our tech stack synchronizes planning, trading, and operations in real-time. That means no detail falls through the cracks.” – Clayton Feldman, CFA®. Director of Operations

Accountability & Transparency

Our clients can see their investment performance (net of fees), benchmarks, and fees in the Gatewood app. This should be the industry standard, but most advisors hide from this basic accountability. We believe transparency builds trust and our clients deserve to have this critical information at their fingertips.

Advanced Client Portal & Tech Stack

We offer full transparency, including after-fee performance reporting, trading activity, and tax impacts. Because our system integrates with your financial plan continuously, you see real-time progress rather than an annual snapshot.

Real-Time Adjustments

You can explore life changes—like buying a second home or altering retirement timelines—and instantly see how each decision affects your broader plan, thanks to our integrated technology.

Why competitors can’t do this:

High-level tech requires substantial investment in software, training, talent, and maintenance. Many firms see technology as a cost to cut, rather than an engine for delivering dynamic planning. We ensure our advisors and clients have robust tools, especially relating to AI capabilities.

5. Multigenerational Team – Long-Term Advisor Continuity

“With advisors ranging from seasoned specialists to new talent, we’re building a legacy of leadership that can serve you and your children for decades.” –Aaron Tuttle, CFA®, CFP®, CLU®, ChFC®, Chief Executive Officer & Partner

Future-Proofing Your Relationship

The average advisor in the U.S. is close to retirement age¹. At Gatewood, we actively recruit and develop younger advisors to ensure someone will always be here for your family’s long-term needs.

Mentorship & Development

From day one, our new advisors learn the ins and outs of our Firm-to-Family philosophy. By the time they’re leading relationships, they already know your family’s preferences and history.

Why competitors can’t do this:

Many haven’t invested in a robust talent and training pipeline. They rely on quick hires instead of cultivating advisors who fully understand their firm’s vision—or your family’s story. Our Advisor Career Path is both thorough and forward-thinking, allowing us to recruit and retain the best in the industry to serve our clientele.

6. Behavioral Economics & Bear Market Readiness – More Than Just “Stay the Course”

“It’s human nature to want to sell when things look grim. We’ve built structural guardrails—like cash buffers—to help clients stay disciplined.” –Brian McGeehon, MAcc, CFA®, CLU®. Partner & Chief Financial Officer

Equity-Focused, Cash-Backed Philosophy

We draw on insights from top financial minds and real-world experience, emphasizing equities for long-term growth potential while strategically using cash to avoid panic selling when markets dip.

Proactive vs. Reactive

Saying “ride it out” is easy, but many firms stop there. We don’t just talk about discipline; we support it with a systematic rebalancing process, profit-trimming, and well-maintained cash reserves.

Why competitors can’t do this:

They often default to cookie-cutter allocations (like 60/40 portfolios) that can lag in both bear and bull markets. Some may mention ‘behavioral coaching,’ but without tangible processes in place, it’s often an empty promise and certainly not a practice.

7. Process-Driven, Not Product-Driven – A True Fiduciary Model

“We don’t sell proprietary funds or push insurance products. We’re consultants, not product distributors.” – Jared Freese, CFP®, CLU®, CEPA, ChFC®, Wealth Advisor Manager

No Conflicts of Interest

Our compensation is straightforward advisory fees—nothing else. We’re not incentivized to push certain funds or policies. Every decision aims to benefit you, not boost a hidden commission. We publicly share our fee schedule.

Goals-Based Planning

We use a goals-based planning framework (more commonly known by our clients as the “Three Buckets”) to categorize assets by personal risk, market risk, and aspirational risk. That way, every dollar works toward a purpose aligned with your unique goals and comfort zone.

Why competitors can’t do this:

Even some “fiduciary” firms still earn commissions from certain products, like annuities. Embracing a purely process-driven model means giving up those additional revenue streams, which many traditional firms find hard to do. Our industry is full of firms claiming a fiduciary status, yet the main goal is pushing product. Doing the right thing is an easy differentiator, which we wish was not the case.

8. Commitment to Long-Term Independence – No Private Equity Sellout

“We’re structured to last for generations. Our focus on independence means client interests always come first.” –John Gatewood, CFP®, CLU®, Founder & Director of Advisor Development

Designed for Decades

We have no plans to sell Gatewood to private equity—now or in the future. Our ownership framework ensures consistent leadership and philosophy, so the values you trust today remain in place for the long haul. Our firm is owned privately by the following people:

• Aaron Tuttle, Partner & CEO
• Brian McGeehon, Partner & CFO
• Christina Shockley, Partner & CPO
• Dan Goeddel, Partner, & COO

Client Interests First

Without external investors pushing for higher margins, we can concentrate on what truly matters—your confidence, your growth, and your legacy. As private equity invades the wealth management space, we will maintain our independence.

Why competitors can’t do this?

Private equity buyouts are common in wealth management as most retiring advisors have not built a team and succession plan internally. After an acquisition, decisions often become bottom-line-driven rather than client-centric. Once independence is sold, it’s nearly impossible to get it back.

The Gatewood Difference

Our structural, philosophical, and process-driven edge permeates every facet of Gatewood—from the first conversation we have to the way we nurture relationships with your children and grandchildren. It’s not just a marketing pitch; it’s a profoundly ingrained mode of operation designed with the goal to safeguard and grow your wealth.

Ready to Experience a Different Kind of Wealth Management?

At Gatewood, we manage more than money—we build relationships that stand the test of market cycles and generational shifts. If you want consistent, sophisticated guidance free from hidden agendas, we’re here to help.

Let’s talk about your goals and how our Firm-to-Family model can help you pursue them—today and for decades to come.

Important Disclosures:

¹Source: https://www.advisorsmagazine.com/trending/23521-aging-advisor-workforce-highlights-need-for-succession-plans

Rebalancing a portfolio may cause investors to incur tax liabilities and/or transaction costs and does not assure a profit or protect against a loss. (28-LPL)

Asset allocation does not ensure a profit or protect against a loss. (34-LPL)

“This Too Shall Pass.” The Five-Year Anniversary of the Covid Crash.

“This Time it’s Different.”

The markets have given us a lot to digest lately. From shifting tariffs under the Trump administration to Elon Musk’s influence on the rise (and rollercoaster) of DOGE, plus rapid changes in federal policies—uncertainty has been the dominant theme. And if there’s one thing markets hate, it’s uncertainty. But while the headlines may suggest that “this time is different,” we’re reminded again that history often tells a reassuringly familiar story: this too shall pass.

The Uncertainty Factor

We’re seeing how quickly investors react to potential trade wars, personnel shifts, and talks of cutting wasteful or fraudulent spending. When so many unknowns hit at once, markets struggle to price it all in. Yet history reminds us that markets have weathered many storms before.

When COVID-19 first struck, markets plummeted before recovering in record time. That tells us something about how investor psychology works: once the most severe unknowns become known—even if they’re negative—markets tend to re-price and move on.

A Look at Recent Volatility

In order to put the current volatility in context, consider the COVID-19 crash.

• Worst days since 2020:
  • March 16, 2020: -11.98%
  • March 12, 2020: -9.51%
  • March 9, 2020: -7.60%
• Best days since 2020:
  • March 24, 2020: +9.38%
  • March 13, 2020: +9.29%
  • March 26, 2020: +6.24%

In just 33 days, from February 19 to March 23, 2020, the S&P 500 fell 33.9%—a truly historic plunge. Yet, by August 18, 2020, barely six months later, the index had fully rebounded, even though the world was far from normal.

What changed? By March 23, the uncertainty about global shutdowns was, to some degree, factored in. The market had enough information to price the situation and begin its climb.

Perspective Through History

Since 1980, the S&P 500 has had an average intra-year drop of 14%. That means, in any given year, you can expect some sharp swings. Despite these drawdowns, the index still finished positive in 34 of the last 45 years.

Yes, tariffs can rattle short-term confidence. Yes, DOGE hype can come and go. Yes, federal cuts can spark anxiety. But these are just the latest in a long history of events that cause market volatility. Historically, markets have proved resilient in the face of everything from recessions to pandemics and they tend to reward disciplined investors over time.

The Power of Diversification

The current landscape also underscores why diversification is critical.

• International holdings are significantly outperforming U.S. stocks this year.
• Value stocks have been outpacing growth stocks.
• Fixed income offers yields comfortably in the 4% range, providing stability amid the market’s daily fluctuations.

If you’re only invested in a narrow slice of the market, you feel every bump. A well-diversified portfolio, on the other hand, can help cushion the ride when uncertainty hits.

Staying Disciplined in Uncertain Times

As the news cycle churns, it’s easy to think, “This time is different.” But if recent history has taught us anything, it’s that overreacting to short-term market swings can often do more harm than good.

• Volatility is part of the investing journey.
• Uncertainty is inevitable.
• Long-term perspective usually wins the day.

Whether the market is panicking over tariffs, new technologies, or dramatic fiscal changes, remember that reacting out of fear can lock in losses and undermine the very reason we invest: to grow our wealth over time.

The Bottom Line

Market uncertainty is never comfortable, but it’s not new. We’ve seen swift downturns before, and we’ll see them again. Historically, markets reward those who stay focused on their goals rather than getting caught up in the headlines.

When uncertainty is high, it helps to revisit your investment plan, lean on diversification, and keep a steady hand on the wheel. While the players and policies may change from one administration to the next, what remains is the market’s ability to adapt and recover, often more quickly than we expect.

In other words: this too shall pass.

Important Disclosures:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

Investing involves risk including loss of principal. No strategy assures success or protects against loss.

The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.

There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.

The S&P 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.

Securities and advisory services offered through LPL Financial, a registered investment advisor, Member FINRA & SIPC.

Tax Planning Checklist for Filing by April 15, 2025

The Tax Season Rush: A Stressful Time for Busy Professionals

As the April 15 tax filing deadline approaches, many professionals, executives, and business owners find themselves overwhelmed. Between managing high-stakes projects, running businesses, traveling for work, and making time for family and social commitments, tax preparation often takes a backseat.

For many, tax season is a scramble—hunting for W-2s, 1099s, business expense records, and charitable donation receipts, all while trying to juggle their already packed schedules. Instead of being proactive about tax strategies, they often find themselves reacting to their tax bill after the fact, missing valuable opportunities to reduce their tax burden.

The reality is that taxes are one of the biggest expenses professionals and business owners face—and just like any other expense, they should be strategically managed. The good news? There’s still time to make impactful tax moves before the filing deadline.

Last-Minute Tax Moves to Reduce Your 2024 Tax Bill

While most tax-saving strategies had to be completed by December 31, 2024, there are still important actions you can take to reduce your tax liability before filing.

1. Contribute to Retirement Accounts (If Eligible)

✔ Traditional IRA Contributions (Deadline: April 15, 2025)

• Contribute up to $7,000 (or $8,000 if age 50+) to a Traditional IRA and potentially deduct it from taxable income.

✔ SEP IRA Contributions (For Self-Employed Individuals) (Deadline: Tax Filing, Including Extensions)

• If self-employed, you can contribute up to 25% of net earnings, with a max of $69,000 for 2024.
• These contributions are fully deductible and can significantly lower taxable income.

✔ HSA Contributions (If Enrolled in a High-Deductible Health Plan) (Deadline: April 15, 2025)

• Contribute up to $4,150 (individual) or $8,300 (family) and deduct contributions from taxable income.
• If age 55 or older, you can contribute an additional $1,000 as a catch-up contribution.

2. Maximize Tax Deductions & Credits

✔ Review Charitable Contributions

• If you made charitable donations in 2024 but did not document them, gather receipts to claim deductions.
• If age 70½ or older, confirm whether you made Qualified Charitable Distributions (QCDs) from an IRA.

✔ Determine if You Qualify for the Child Tax Credit

• Up to $2,000 per child, subject to income phase-outs.

✔ Claim Education-Related Tax Credits

• American Opportunity Credit (for undergraduate students, up to $2,500)
• Lifetime Learning Credit (for continuing education, up to $2,000)

✔ Check for Home Energy Efficiency Credits

• If you installed solar panels, upgraded insulation, or replaced HVAC systems in 2024, you may qualify for tax credits.

✔ Deduct Student Loan Interest

• Up to $2,500 in student loan interest may be deductible.

3. Optimize Capital Gains & Losses

✔ Use Prior-Year Capital Loss Carry-forwards

• If you harvested losses in 2023, they can offset any 2024 capital gains.
• You can also deduct up to $3,000 in losses against ordinary income.

✔ Confirm Tax Treatment of Any 2024 Investment Sales

• If you sold investments, determine whether they qualify for lower long-term capital gains rates (0%, 15%, or 20%).

✔ Review Estimated Tax Payments (If Self-Employed or Have Large Investments)

• If you underpaid estimated taxes in 2024, confirm whether penalties may apply.
• The IRS waives some penalties if 90% of taxes were paid through withholdings or estimated tax payments.

4. Ensure Business Owners Take Advantage of Last-Minute Deductions

✔ Fund a SEP IRA (Deadline: April 15 or Tax Filing with Extensions)

• Contribute up to $69,000 (2024 limit) to reduce taxable income.

✔ Confirm Deductible Business Expenses

• Ensure home office, business mileage, travel, and client entertainment expenses are documented for deduction.

✔ Take Advantage of QBI Deduction (If Eligible)

• If you own a pass-through business (LLC, S-Corp, or Sole Proprietorship), you may be able to deduct up to 20% of qualified business income (QBI).

✔ Finalize Payroll and Employee Benefit Contributions

• Ensure any employee bonuses, retirement contributions, or profit-sharing payments are properly accounted for.

What to Gather for Your Tax Preparer or Financial Advisor

Pulling together the right tax documents ensures an accurate and efficient tax filing. Use this checklist to organize your records before meeting with your CPA, tax preparer, or financial advisor.

Personal Information

✔ Full Legal Names & Social Security Numbers for all dependents
✔ Filing Status: Single, Married, Head of Household
✔ Bank Information: For direct deposit refunds

Income-Related Documents

✔ W-2s from all employers
✔ 1099s (for self-employed, contract work, rental income, dividends, or investment income)
✔ K-1 Forms (for income from partnerships, S-corps, or trusts)
✔ Rental Property Income (if applicable)
✔ 1099-INT/1099-DIV (for interest and dividend income)
✔ 1099-B (for stock sales or investment transactions)
✔ Alimony Received (if applicable)

Deductions & Credits

✔ IRA Contributions (Traditional, Roth, SEP, SIMPLE IRA)
✔ HSA Contributions & Distributions
✔ Medical Expenses (if itemizing deductions)
✔ Mortgage Interest & Property Tax Statements (1098)
✔ Charitable Contribution Receipts
✔ Student Loan Interest (Form 1098-E)
✔ Education Expenses (Form 1098-T for tuition credits)
✔ Childcare Expenses (Name, Address, and EIN of Provider)
✔ Moving Expenses (if Military)

Business Owners & Self-Employed Tax Documents

✔ Profit & Loss Statement for 2024
✔ Business Expense Receipts (home office, vehicle mileage, travel, meals, equipment)
✔ Payroll & Employee Benefits Records
✔ Retirement Plan Contributions (Solo 401(k), SEP IRA, SIMPLE IRA)
✔ Estimated Tax Payments Made in 2024

Investment & Real Estate Tax Documents

✔ 1099-R for Retirement Distributions
✔ 1099-Q for 529 Plan Distributions
✔ 1099-S (if you sold a home or rental property)
✔ Schedule K-1 (if you’re a partner in a business or receive trust income)
✔ Cost Basis & Sale Proceeds for Any Investments Sold
✔ Rental Property Income & Expenses

Final Steps Before Filing

✔ Confirm Your Estimated or Final Tax Payment (If Owed)
✔ Check for Any Carry-forward Losses or Unused Deductions
✔ Consider Filing an Extension (If Needed)

• Use Form 4868 to extend the filing deadline to October 15, 2025.
• Note: You must still pay any owed taxes by April 15 to avoid penalties.

Don’t Wait—Plan Now to Reduce Your Tax Bill!

The weeks leading up to April 15, 2025 are crucial for filing accurately, claiming deductions, and minimizing taxes owed. The earlier you gather documents and meet with your advisor, the better positioned you are to reduce your tax burden and avoid last-minute surprises.

Need help navigating tax strategies or making final contributions before filing? Contact Gatewood Wealth Solutions today for a customized tax planning review!

Important Disclosures:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

Investing involves risk including loss of principal. No strategy assures success or protects against loss.

This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.

Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.

Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC

Trump’s Proposed Tariffs: Economic Weapon or Unintended Consequences?

Introduction

Tariffs have long been a powerful but controversial tool in economic policy, influencing trade balances, industry growth, and global relations. While tariffs are often used to protect domestic industries and jobs, they can also increase costs, disrupt supply chains, and provoke retaliatory trade measures.

With President Donald Trump proposing new tariffs in his second term, it is critical to examine the potential economic benefits and consequences of these policies.

How Tariffs Work & Why Politicians Use Them

A tariff is a tax imposed on imported goods, making them more expensive and giving domestic industries a competitive edge. Governments justify tariffs for several reasons:

• ✔ Protecting Domestic Industries – Shields local businesses from cheaper foreign competitors.
• ✔ Reducing Trade Deficits – Encourages domestic consumption over imports.
• ✔ Leverage in Trade Negotiations – Used as a bargaining tool in international trade deals.
• ✔ Revenue Generation – Provides direct tax revenue to the government.

President Trump previously implemented tariffs as part of his “America First” trade policy. In his second term, he has proposed tariffs on imports from Canada, Mexico, and China, as well as reciprocal tariffs to match the duties imposed on U.S. goods by other countries.

While these measures aim to strengthen U.S. industry, they also carry potential risks, including higher consumer prices and trade retaliation from global partners.

The Pros & Cons of Tariffs: Who Wins and Who Loses?

✔ Potential Benefits of Tariffs

• Job Protection & Domestic Growth – Industries like steel, textiles, and technology benefit from reduced foreign competition.
• Stronger Local Manufacturing – Encourages companies to reinvest in U.S. production rather than outsourcing.
• Negotiation Leverage – Tariffs pressure foreign nations to renegotiate trade agreements that benefit American businesses.
• Short-Term Gains for Farmers & Key Sectors – Temporary relief from low-price competition abroad.

Example: U.S. steel tariffs helped boost domestic production but raised costs for automakers and construction firms.

❌ The Negative Effects of Tariffs

• Higher Costs for Consumers – Businesses pass tariff costs onto consumers, raising prices for food, electronics, and automobiles.
• Inflationary Pressures – Tariffs increase overall inflation, leading to higher interest rates and slowing economic growth.
• Retaliatory Tariffs Hurt U.S. Exports – Countries like China and the EU respond by targeting American industries (e.g., soybeans, whiskey).
• Disruptions to Global Supply Chains – Industries reliant on imported raw materials (e.g., automotive, tech, and manufacturing) face higher costs and production delays.

Example: The U.S.-China Trade War (2018-2020) led to higher prices on imported goods, costing the average American household $1,277 per year.

Impact on Inflation & Global Trade

One of the biggest risks of tariffs is inflation. As tariffs increase the cost of imported goods, companies pass these expenses to consumers, raising prices across the economy.

✔ Short-Term Effects: Higher prices on targeted imports (e.g., electronics, clothing, food).

❌ Long-Term Effects: Persistent inflation pressures force the Federal Reserve to raise interest rates, slowing investment and job growth.

Globally, tariffs disrupt trade flows as companies shift production to countries with lower trade barriers. Nations impacted by U.S. tariffs may form alternative trade agreements, reducing American influence in global markets.

Example: After U.S. tariffs, China increased soybean imports from Brazil, permanently reducing U.S. market share.

Are Tariffs a Sustainable Economic Strategy?

✔ When Used Selectively: Tariffs can protect key industries and pressure foreign nations into fairer trade deals.

❌ Overuse Leads to Economic Slowdowns: Broad tariff policies raise costs, fuel inflation, and trigger global trade conflicts.

With President Trump’s proposed second-term tariffs, policymakers must carefully weigh short-term benefits against long-term risks. If implemented without strategic adjustments, tariffs could exacerbate inflation and slow economic recovery.

Conclusion: Finding a Balanced Trade Approach

Rather than relying solely on tariffs, the U.S. could consider:

✔ Trade Agreements that Promote Fair Competition (e.g., stronger deals with allies).

✔ Tax Incentives for Domestic Manufacturing (instead of penalizing imports).

✔ Investments in Workforce Development & Technology (to make U.S. industries more competitive globally).

Ultimately, tariffs should be used as a precise tool, not a broad economic policy. While they can shield domestic industries, their long-term costs—higher prices, inflation, and trade retaliation—must be carefully managed.

What’s Next?

As the Trump administration considers new tariffs, businesses and consumers should prepare for potential price increases, supply chain adjustments, and shifts in global trade dynamics. The key to long-term economic success lies in balancing protectionist policies with sustainable growth strategies.

Tariff Impacts: Positives and Negatives.

The table below outlines the potential positive and negative impacts of tariffs across various industries and countries. While tariffs can provide benefits such as protecting domestic industries and increasing government revenue, they also introduce challenges such as higher consumer prices, trade disruptions, and economic slowdowns.

Love Your Financial Future:  A Valentine’s Day Guide to Aligning Your Goals

Align Your Goals, Strengthen Your Bond, Love Your Financial Future. 

Valentine’s Day isn’t just about flowers, chocolates, and dinner reservations—it’s about celebrating love and partnership. This year, why not take the opportunity to strengthen your bond by aligning your financial goals as a couple? Financial planning may not sound romantic, but building a shared vision for the future is one of the most meaningful ways to show your love and commitment. 

At Gatewood Wealth Solutions, we believe that love and money go hand in hand. Whether you’re navigating financial discussions or preparing for life’s biggest milestones, aligning your goals is essential to loving your financial future. 

Aligning Your Goals: The Foundation of a Strong Bond 

Why Financial Alignment Matters 

Just like trust and communication, financial alignment is key to a healthy relationship. When couples work together to establish shared goals—whether it’s saving for a dream vacation, paying off debt, or planning for retirement—they create a foundation of understanding and partnership that strengthens their bond.

How to Get on the Same Page 

1. Plan a Money Date Night: Use Valentine’s Day as an excuse to schedule a money date. Over dinner or a glass of wine, discuss your financial dreams and challenges. 
2. Set Shared Goals: Identify your top priorities as a couple. Do you want to buy a home, save for retirement, or travel more? 
3. Create a Vision Board: Visualizing your shared goals can make them feel more tangible and exciting. 

Navigating Financial Discussions with Love 

Overcoming Money Differences 

Every couple brings unique financial habits and experiences to the relationship. While one partner might be a saver, the other could be more of a spender. Instead of letting these differences create tension, use them as opportunities to grow together. 

1. Practice Empathy: Take the time to understand your partner’s money mindset and what shaped their habits. 
2. Set Nonjudgmental Boundaries: Agree on spending limits or savings goals without criticizing each other’s choices. 
3. Communicate Regularly: Make financial discussions a regular part of your relationship, not just a one-time event. 

Handling Tough Conversations 

• Focus on shared solutions rather than pointing fingers. 
• Be honest about your fears and financial stressors. 
• Enlist a qualified advisor to provide a professional perspective when needed. 

Preparing for Life’s Key Milestones Together 

Every stage of life brings unique opportunities and challenges, and planning for these milestones together can bring you closer as a couple. 

Buying a Home 

• Discuss what “home” means to each of you—location, size, and budget. 
• Save for a down payment together, targeting 20% to avoid private mortgage insurance. 
• Plan for additional costs like maintenance and taxes. 

Starting a Family 

• Budget for medical expenses, childcare, and education savings. 
• Ensure you both have adequate life and disability insurance to protect your growing family. 
• Revisit your estate plan to include guardianship for children. 

Planning for Retirement 

• Talk about what retirement looks like for each of you—early retirement, travel, or starting a new venture. 
• Maximize your retirement savings through 401(k)s, IRAs, and Roth accounts. 
• Explore rolling over old 401(k)s for streamlined management and increased investment flexibility. 

Confidence in Wealth Activation and Enjoyment 

Valentine’s Day is a time to celebrate love, but it’s also an opportunity to reflect on the future you’re building together. Transitioning from wealth accumulation to wealth activation, confidently spending down your investments during retirement, requires careful planning. That’s where Gatewood Wealth Solutions can help. 

Our Team Is Your Team 

• Wealth Advisor: Guides you through key financial decisions. 
• Wealth Planner: Creates a roadmap tailored to your shared goals. 
• Portfolio Strategist: Aligns your investments with your risk tolerance and future aspirations. 
• Wealth Coordinator: Ensures every detail is executed seamlessly. 

Enjoying the Life You Build Together 

With a clear financial plan, you can embrace life’s key moments confidently. Whether it’s traveling the world, celebrating milestones, or simply enjoying everyday moments, your wealth plan ensures you can live with purpose and intention.

This Valentine’s Day, Commit to Your Financial Future 

Love is about building a life together, and your financial future is a big part of that. This Valentine’s Day, make a pledge to align your goals, strengthen your bond, and love your financial future. Whether it’s discussing your dreams, tackling tough money conversations, or preparing for life’s milestones, each step brings you closer to the life you envision together. 

Important Disclosures: 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. 

Investing involves risk including loss of principal. No strategy assures success or protects against loss. 

There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk. 

This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor. 

Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC 

Unlocking the Power of 401(k)s: How Better Benefits Drive Employee Success

9 Rules of Thumb for ‘High Earners, Not Rich Yet’

Important Disclosures:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

Investing involves risk including loss of principal. No strategy assures success or protects against loss.

There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.

This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.

Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC