Despite continued market volatility and rising political and economic risks, New Capital portfolios remain broadly diversified and resilient. Recent policy shifts, international developments, and AI-driven innovation are influencing portfolio strategy, with tactical adjustments reflecting both caution and opportunity.

Assessing the new over-65 deduction and its implications for Social Security taxation, as well as new rules for charitable giving and the SALT deduction.

Markets rise not because predictions are right, but because people innovate, adapt, and persevere. David Booth argues that investing is a long-term bet on human ingenuity—and history shows it's a powerful one.

Choosing the right home care means evaluating services, caregiver credentials, and flexibility to ensure a safe, supportive fit.

Markets were volatile in early 2025 amid tariff concerns and Fed uncertainty. Despite sharp swings, the S&P 500 rose slightly. Value outperformed growth, and global stocks led U.S. equities. Bonds gained modestly. Staying disciplined helped amid turbulence.

In June, the Fed maintained rates, prioritizing inflation control despite tariff-driven uncertainties. While two rate cuts are anticipated by year-end, policymakers await clear evidence of labor market softening. During bond market volatility, disciplined, goal-focused investing remains essential.

Long-term care can bring unexpected, significant costs for retirees, while many need some assistance, a smaller portion face extended care expenses. Thoughtful planning, including insurance, home equity, or Medicaid options, can help safeguard your financial security and dignity in later years.

Relocating to a new state requires reviewing and updating your estate plan to comply with state-specific laws. Variations in wills, trusts, executors, and powers of attorney can impact your legacy and your family’s experience. Ensure your documents reflect your new state’s requirements for peace of mind.

Where you retire could shape your financial future more than you think. State tax policies on IRA withdrawals vary widely, and choosing the right state—especially if you're married—could mean saving thousands each year and stretching your nest egg further.

Market volatility is back, but history shows it's normal and often followed by strong rebounds. Staying invested is key—missing top days can halve returns. Diversification, risk-aware strategies, and long-term discipline can help investors navigate uncertain times.

Despite recession fears driven by political and economic uncertainty, history shows markets often rebound. In 11 of 12 past U.S. recessions, $1 invested at the start saw gains over three years, averaging 43.2%—similar to long-term market performance.

Moody’s stripped the US of its last perfect credit rating as debt levels surge and fiscal gridlock persists. While short-term market volatility is possible, Treasury bonds remain strong and rising yields may create new opportunities for income-focused investors.

Estate plans can quickly become outdated as life events and tax laws change. Regular reviews help keep your wishes aligned, protect loved ones, and avoid costly mistakes. From updating fiduciaries to including charitable goals, staying current is key to lasting impact.

Trusts offer powerful advantages in estate planning, from avoiding probate and reducing taxes to protecting loved ones and managing complex assets. Whether you own property, have young children, or want more control over your legacy, a Trust can provide lasting peace of mind.

In a surprising 2025 market shift, international equities have outperformed U.S. stocks by 11%, while U.S. growth lags and value gains. Europe benefits from fiscal stimulus and stability, and U.S. value sectors like healthcare present strong opportunities.

With U.S. tariffs now averaging 19%—the highest since 1933—history offers key lessons. Past tariff waves, from McKinley to Smoot-Hawley, often led to higher prices and weaker trade. Today’s tariffs are again pressuring growth, prompting strategic shifts for investors.

Moving from a one-time gift to long-term nonprofit support can amplify your impact. Reflect on your values, assess the organization’s progress, and explore deeper engagement through funding, volunteering, or advocacy to drive lasting change together.

Planning your children’s inheritance is a key part of estate planning. Whether you pass assets after death, through a trust, or while alive, thoughtful timing can ease transitions, reduce taxes, and align with your family’s values and future needs.

Leonard Golub, CFA, President of New Capital Management, shares a Q1 2025 market outlook focused on inflation, tariffs, and shifting policies. He highlights key risks and opportunities and offers practical guidance for navigating today’s uncertain environment.

US stocks ended the first quarter lower after reaching record highs, weighed down by concerns over AI competition, economic uncertainty, and the impact of new tariffs, while international markets outperformed and bonds showed modest gains.