The OBBBA also allows non-itemizers to deduct up to $1,000 (single) or $2,000 (joint) for charitable donations.
With a higher standard deduction, 2025 may also be a good time for a Roth IRA conversion to lock in future tax-free growth and withdrawals in retirement.
Consult your tax advisor to customize the most suitable strategies for your situation.
Read more: Kiplinger
Beginning in 2026, employees aged 50 or older who earned more than $145,000 in the prior year (indexed for inflation) must make their Roth catch-up contributions —that is, using after-tax dollars. While this may increase current taxable income, it provides an opportunity to diversify the tax treatment of retirement savings and potentially reduce taxes in retirement.
Those who still qualify for pre-tax catch-up contributions should ensure they maximize contributions by year-end. For 2025, the maximum 401(k) contribution for individuals aged 50–59 is $31,000, which includes the standard $23,500 limit plus a $7,500 catch-up contribution.
A special provision for those aged 60–63 allows an even higher limit of $34,750, assuming their plan permits the “super catch-up” of $11,250.
Read more: Charles Schwab
One key milestone for retirement plan participants is age 55. Under the IRS “Rule of 55,” if you separate from your employer during or after the year you turn 55, you may take penalty-free withdrawals from your employer-sponsored retirement plan, such as a 401(k), provided the plan allows it. Note that income taxes still apply, and this rule does not extend to IRAs.
Because each retirement plan has its own rules, it’s important to verify withdrawal provisions with your plan administrator and consult your tax advisor regarding potential consequences. Withdrawals should be considered carefully, as funds taken out cannot be redeposited into the same account.
Read more: Bankrate
When comparing the current AI boom to the dot-com era of 2000, many say, “This time, it’s different.” Yet, as legendary investor Sir John Templeton warned, those are the four most dangerous words in investing. Believing “this time is different” often leads investors to ignore historical patterns, underestimate risks, and overconfidence - mistakes that can result in financial loss.
At Vibrance Wealth Management, we believe human nature has not changed. Markets are still driven by emotion, particularly fear and greed. Even in an age of algorithmic trading and AI, investment decisions remain rooted in human behavior.
History reminds us that economic and market cycles always rise and fall. Investors often repeat the same patterns of greed by over-leveraging, speculating and taking on excessive risks that have led to past downturns.
Disciplined investors understand that staying cautious, diversified, and nimble remains the best defense against unexpected financial setbacks.
Read more: MORNINGSTAR