When it comes to wealth transfer and estate planning, few numbers are as closely watched as the federal estate tax exemption. This figure determines how much wealth can pass free of federal estate tax at death (or through lifetime gifts). With the passage of the  One Big Beautiful Bill Act (OBBBA)  in early 2025, the landscape has shifted in ways that may affect your long-term planning. The Current Estate Tax Exemption For 2025, the federal estate and gift tax exemption is $13.99 million per individual, or $27.98 million for married couples with proper planning. In practical terms, this means estates valued below that threshold will not owe federal estate tax. The top federal estate tax rate remains 40% on amounts above the exemption. What Changes Under the OBBBA? Before OBBBA, the exemption was scheduled to be cut roughly in half starting in 2026, reverting to pre-2018 levels (around $6–7 million per person). This potential “sunset” created uncertainty for families and business owners trying to plan for the future. Historical estate tax exemption amounts can be found here: IRA Estate Tax OBBBA eliminated that uncertainty by: Setting a new exemption of $15 million per person  (or $30 million per married couple) beginning in 2026. Indexing the exemption for inflation  moving forward, helping it keep pace with economic conditions. Making the higher exemption permanent , rather than temporary—though future legislation could always revisit the rules. Why This Matters Estate tax exposure primarily affects individuals and families with significant wealth, but the exemption is not just a number for the ultra-wealthy. It influences: Business succession  – Family-owned businesses and farms often face liquidity challenges when passing to the next generation. Gifting strategies  – Lifetime gifts that use part of the exemption may need recalibration under the new law. Estate and Gift Tax FAQs Charitable giving  – Charitable trusts and foundations may be structured differently depending on taxable estate projections. State estate taxes  – Some states have lower exemption amounts than the federal level, which requires coordinated planning. Planning Considerations Review Your Current Estate Plan: If your plan was built with the assumption of a much lower exemption in 2026, you may have opportunities to simplify. Reassess Gifting: With a higher exemption locked in, lifetime gifting may still play an important role, but the urgency has shifted. Coordinate With State Law: Even if you’re under the federal threshold, state estate or inheritance taxes may apply. Stay Flexible: While OBBBA establishes permanence, Congress has the power to change course. Building flexibility into trusts and estate structures remains wise. Final Thoughts The increase in the estate tax exemption under OBBBA provides clarity and planning stability for families with significant assets. Still, estate planning is more than a tax calculation, it’s about ensuring your wealth supports your family, your business, and your legacy in the ways you intend. If you have questions about how these changes may affect your situation, consider reviewing your plan with a qualified estate planning attorney and your financial advisor. www.rigdencapital.com About Rigden Capital Strategies Rigden Capital Strategies was founded on a simple belief: financial advice should be personal, transparent, and centered around your goals—not built on generic models or product-driven sales. With decades of combined industry experience, we’ve developed a process grounded in three core values: value, integrity, and progress. As a fee-only fiduciary, we provide personalized, goals-based wealth planning services designed to adapt with your life. Our services include investment management, retirement and tax planning, and estate coordination. We use a mix of active and passive strategies to help clients navigate market changes with clarity and confidence. We believe in building real relationships and delivering clear, actionable strategies—focused on long-term planning and aligned with your objectives. Your goals, our strategies. Together, let’s make your goals happen. Disclosure:  This content is for informational and educational purposes only and should not be interpreted as financial, legal, or tax advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information provided. Investment decisions should be based on individual circumstances, and we recommend consulting a qualified professional before implementing any financial, legal, or tax strategies. Past performance is not indicative of future results, and all investments carry risks, including potential loss of principal. No investment strategy can guarantee success or protect against loss in all market conditions. Investors should carefully consider their risk tolerance, investment objectives, and financial circumstances before making investment decisions.

Investing in real estate can be a valuable way to pursue long-term wealth building, depending on individual goals and circumstances. But success isn’t about speculation—it’s about strategy. With the right plan, disciplined execution, and guidance from a fiduciary real estate planner, you can transform property ownership into a reliable source of income and long-term growth. Whether you're a first-time investor or expanding a seasoned portfolio, this guide offers actionable insights to help you seek to improve returns, manage risk, and align your investments with your financial goals. Key Reasons to Invest in Real Estate Why Work with a Fiduciary Real Estate Planner? A fiduciary real estate planner is legally obligated to act in your best interest. As a fiduciary, we are required to act in your best interest and provide advice aligned with your goals. This fiduciary standard ensures that every recommendation is tailored to your financial objectives, risk tolerance, and long-term vision. A fiduciary planner helps you: Analyze market cycles, timing, and location-specific trends Evaluate property values and forecast potential returns Navigate tax implications and legal structures Design a personalized investment strategy aligned with your goals For business owners, retirees, or high-net-worth individuals, fiduciary planners offer strategic diversification and cash flow alignment—helping you avoid common pitfalls like overpaying or investing in declining markets. How to Identify High-Growth Real Estate Markets With Smart Real Estate Investing Not all markets offer equal opportunity. The key is to look beyond surface-level trends and focus on economic fundamentals with smart real estate investing. Key indicators of promising markets: Job Growth & Infrastructure : Cities with expanding employment and transit projects often attract long-term demand. Demographic Shifts : Influxes of young professionals or retirees can signal rising demand for specific property types. Rental Demand : High occupancy rates and rising rents suggest strong cash flow potential. Property Type Fit : Multi-family units offer stability; commercial spaces may yield higher returns but carry more volatility. A fiduciary planner can help you balance these dynamics and select properties that match your investment style and timeline. Understanding the 50% Rule for Rental Property Cash Flow The 50% rule is a simple yet powerful tool for evaluating rental property viability. It estimates that half of your rental income will go toward operating expenses—excluding mortgage payments. This is educational illustration, not guaranteed outcome. Typical expenses include: Property taxes Insurance Repairs and maintenance Property management fees Vacancy reserves Actual results will vary based on property-specific expenses, financing terms, and market conditions. Financing and Tax Strategies to Accelerate Growth Real estate investing isn’t just about acquisition—it’s about optimization. Strategic use of financing and tax planning can significantly enhance your returns. Consider these approaches: Leverage with Caution : Use debt to amplify returns, but ensure properties generate positive cash flow post-mortgage. Tax Deductions : Mortgage interest, depreciation, and operating expenses can reduce taxable income. 1031 Exchanges : Defer capital gains taxes by reinvesting proceeds into like-kind properties. Appreciation Planning : Some assets may yield modest cash flow but appreciate significantly over time. A fiduciary planner help evaluate how these strategies may be applied within a goal-aligned framework. These are an educational illustration, not guaranteed outcome. Building a Diversified Real Estate Portfolio Diversification is essential for managing risk and creating multiple income streams. A well-balanced portfolio can weather market shifts and support long-term growth. Diversification strategies: Mix Property Types : Blend residential, commercial, and industrial assets. Geographic Spread : Invest across cities and regions to reduce local exposure. Size Variation : Combine smaller, manageable properties with larger, high-value assets. REITs : Real Estate Investment Trusts offer exposure without direct property management. Diversification helps protect against volatility and supports consistent performance across market cycles. Your Next Steps: Invest with Intention Real estate can play a meaningful role in a diversified portfolio—but outcomes depend on careful planning and disciplined execution. Start by clarifying your financial goals, assessing your current portfolio, and engaging a fiduciary real estate planner who prioritizes your success. Schedule a confidential consultation today to discuss how our wealth management process may support your diversification strategy with smart real estate investing. Your goals, our strategies. Together, let’s make your goals happen. Rigden Capital Strategies is a trusted partner for individuals seeking wealth management and financial planning. Our fee-only fiduciary approach ensures that every recommendation is made with our clients' best interests in mind. We develop customized financial plans, combining strategic investment management with proactive tax and retirement planning to help clients achieve their long-term financial goals. Disclosure:  This content is for informational and educational purposes only and should not be interpreted as financial, legal, or tax advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information provided. Investment decisions should be based on individual circumstances, and we recommend consulting a qualified professional before implementing any financial, legal, or tax strategies. Past performance is not indicative of future results, and all investments carry risks, including potential loss of principal. No investment strategy can guarantee success or protect against loss in all market conditions. Investors should carefully consider their risk tolerance, investment objectives, and financial circumstances before making investment decisions. Check out our other insights at https://www.rigdencapital.com/blog .

When it comes to preparing your tax return, one of the most important decisions you’ll make is selecting the right filing status. Your filing status determines your standard deduction, eligibility for certain credits and deductions, and ultimately how much tax you owe—or how much of a refund you may receive. Choosing incorrectly can mean overpaying taxes or facing IRS issues down the road. The Five Filing Status Options Single For taxpayers who are not married, legally separated, or divorced on the last day of the year. Best for individuals with no dependents. Married Filing Jointly (MFJ) Married couples can file one combined return. Often the most advantageous option due to higher standard deduction and broader tax brackets. Both spouses are jointly responsible for the accuracy and tax liability. Married Filing Separately (MFS) Spouses file their own returns and report their income and deductions separately. Rarely the most favorable option, but can make sense if: One spouse has significant medical expenses or miscellaneous deductions tied to adjusted gross income. There are liability concerns about a spouse’s tax situation. Head of Household (HOH) For unmarried taxpayers (or considered unmarried for tax purposes) who pay more than half the cost of keeping up a home for a qualifying dependent. Provides a higher standard deduction than Single and more favorable tax brackets. To qualify, you generally must support a child or dependent relative living with you. Qualifying Widow(er) with Dependent Child Available for up to two years following the year of a spouse’s death, provided the surviving spouse maintains a household for a dependent child. Offers the same tax brackets and standard deduction as Married Filing Jointly. Why Filing Status Matters Standard Deduction:  For 2025, the standard deduction is $15,000 for Single, $30,000 for Married Filing Jointly, and $22,500 for Head of Household. Choosing the right status ensures you maximize your deduction. Tax Brackets:  Filing status determines which income bracket your earnings fall into. Credits and Deductions:  Some tax credits, such as the Earned Income Tax Credit (EITC) or Child Tax Credit, have income thresholds and eligibility rules based on filing status. Tips for Making the Right Choice Check your marital status on December 31.  The IRS considers your status at year-end as your status for the full year. Evaluate both joint and separate returns  if you’re married—sometimes running the numbers both ways is the only way to know for sure. Consider dependents carefully.  If you support a child or relative, you may qualify for Head of Household instead of Single. Consult IRS tools or a tax professional.  The IRS offers an Interactive Tax Assistant to help determine your correct status. When Married Filing Separately Might Make Sense Liability Concerns Each spouse is only responsible for their own return. Useful if one spouse is worried about the other underreporting income, having unpaid taxes, or claiming questionable deductions. High Medical Expenses Medical expenses are deductible only to the extent they exceed  7.5% of adjusted gross income (AGI) . If one spouse has a lot of medical bills and lower income, filing separately may make it easier to reach the threshold. Miscellaneous Deductions Deductions that are limited by a percentage of AGI (such as casualty and theft losses) can sometimes be more beneficial if AGI is lower on a separate return. Student Loan Income-Driven Repayment (IDR) Plans Some IDR plans calculate monthly payments based on the borrower’s AGI. Filing separately can reduce reported income and lower payments if only one spouse has student loans. Separation or Divorce Situations If spouses are estranged or in the process of divorce, they may prefer to keep finances completely separate for legal or practical reasons. State-Specific Rules In community property states, special allocation rules apply, but some couples still choose MFS to simplify or protect their financial situation. Downsides of Married Filing Separately Lower standard deduction ($15,000 in 2025, versus $30,000 for MFJ). Loss of key credits and deductions, such as: Earned Income Tax Credit (EITC) Education credits (Lifetime Learning, American Opportunity) Student loan interest deduction Child and Dependent Care Credit (with limited exceptions) Generally results in a higher combined tax bill compared to MFJ. Bottom line:  Filing separately is usually about protecting one spouse’s finances or optimizing deductions in unique cases (like large medical expenses or student loan repayment strategies). For most couples, Married Filing Jointly is still the better option. Final Thoughts Selecting the right filing status is the foundation of your tax return. It impacts deductions, credits, and your total tax liability. If you’re unsure, don’t guess—double-check your eligibility and, when in doubt, work with a qualified tax professional. The right choice can save you money and help you avoid costly mistakes. Rigden Capital Strategies was founded on a simple belief: financial advice should be personal, transparent, and centered around your goals—not built on generic models or product-driven sales. With decades of combined industry experience, we’ve developed a process grounded in three core values: value, integrity, and progress. As a fee-only fiduciary, we provide personalized, goals-based wealth planning services designed to adapt with your life. Our services include investment management, retirement and tax planning, and estate coordination. We use a mix of active and passive strategies to help clients navigate market changes with clarity and confidence. We believe in building real relationships and delivering clear, actionable strategies—focused on long-term planning and aligned with your objectives. Your goals, our strategies. Together, let’s make your goals happen. Disclosure:  This content is for informational and educational purposes only and should not be interpreted as financial, legal, or tax advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information provided. Investment decisions should be based on individual circumstances, and we recommend consulting a qualified professional before implementing any financial, legal, or tax strategies. Past performance is not indicative of future results, and all investments carry risks, including potential loss of principal. No investment strategy can guarantee success or protect against loss in all market conditions. Investors should carefully consider their risk tolerance, investment objectives, and financial circumstances before making investment decisions.

Each year, Social Security benefits are adjusted to help retirees, survivors, and individuals with disabilities keep pace with rising costs. These adjustments—known as Cost-of-Living Adjustments (COLAs)—are tied to the Consumer Price Index (CPI), which tracks inflation. What Is COLA? Since 1975, Social Security has used COLAs to automatically increase benefits whenever the cost of living rises. This system ensures that monthly payments maintain purchasing power, even as everyday expenses like groceries, housing, and healthcare increase. The 2025 COLA On October 10, 2024, the Social Security Administration announced a  2.5% COLA , which began affecting payments in January 2025. This increase means that beneficiaries saw their monthly checks rise slightly to offset inflation. Cost-Of-Living Adjustments by Year Who Benefits? The COLA applies to: Retirement benefits Survivor benefits Disability benefits Supplemental Security Income (SSI) For many retirees, even small increases can make a meaningful difference in budgeting for essentials. Looking Ahead The next COLA will be announced in  October 2025 , based on inflation trends during the year. Beneficiaries should keep an eye on this update, as it directly impacts income planning. Social Security: Cost-Of-Living Adjustment (COLA) About Rigden Capital Strategies Rigden Capital Strategies was born out of a simple but powerful idea: financial advice should be personal, transparent, and built around your goals—not generic solutions or product-driven sales. Fueled by decades of experience and a desire to see clients truly succeed, we’ve created a process rooted in value, integrity, and progress. As a fee-only fiduciary, we offer dynamic, stress-tested wealth plans tailored to your life. Our expertise spans investment management, retirement and tax planning, and estate guidance -blending active and passive strategies to help your portfolio through any market. We believe in real relationships, clear strategies, and long-term results. Your goals, our strategies. Together, let’s make your goals happen. Disclosure:  This content is for informational and educational purposes only and should not be interpreted as financial, legal, or tax advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information provided. Investment decisions should be based on individual circumstances, and we recommend consulting a qualified professional before implementing any financial, legal, or tax strategies. Past performance is not indicative of future results, and all investments carry risks, including potential loss of principal. No investment strategy can guarantee success or protect against loss in all market conditions. Investors should carefully consider their risk tolerance, investment objectives, and financial circumstances before making investment decisions.

When Congress passed the 2025 “One Big Beautiful Bill” (OBBB), the headlines came fast and loud. Some news outlets and even a Social Security Administration (SSA) email suggested that the new law would  eliminate federal income taxes on Social Security benefits . That claim spread quickly—but it isn’t entirely accurate. The truth is more measured. The OBBB does not repeal the long-standing rules that make up to 85% of Social Security benefits taxable. Instead, it introduces a  temporary senior tax deduction  that could significantly lower the taxable income of retirees with modest to middle incomes. In the right circumstances, this deduction could reduce or even eliminate taxes on Social Security benefits—but it doesn’t rewrite the system altogether. Let’s break down what’s really happening and what it means for retirees. The Rules Haven’t Changed For decades, Social Security benefits have been subject to taxation depending on your income. The formula uses “provisional income,” which combines adjusted gross income (AGI), non-taxable interest, and half of your Social Security benefits. If your provisional income is below certain thresholds, your benefits aren’t taxed. As income rises, up to  85% of your benefits  can be included in taxable income. The OBBB leaves these rules intact. If you’re a higher-income retiree, you could still see the maximum portion of your Social Security taxed . What the OBBB Adds The real change is the creation of a  new senior tax deduction  available for tax years  2025 through 2028 . Here’s how it works: Single filers  age 65 and older can claim up to a  $6,000 deduction  if their modified adjusted gross income (MAGI) is $75,000 or less. Married couples filing jointly  can claim up to a  $12,000 deduction  with MAGI of $150,000 or less. The deduction begins to phase out for incomes above those thresholds. This deduction reduces your overall taxable income. While it does not remove the taxability of Social Security benefits directly, it may push your income down far enough that your benefits fall below the tax threshold. In plain language: the new deduction won’t erase Social Security taxes for everyone—but it could for many middle-income retirees. Who Benefits Most? The deduction is targeted toward retirees who sit in the middle income range—those earning enough to see some of their Social Security taxed, but not so much that they exceed the income thresholds. Low-income retirees : Many already pay no tax on Social Security and won’t see a large benefit. High-income retirees : Those above the $75,000/$150,000 MAGI thresholds may not qualify for the full deduction, and their benefits will likely remain taxable. Middle-income retirees : This is where the deduction makes the biggest difference, potentially reducing taxable income enough to eliminate benefit taxation. Why the Confusion? Shortly after the bill passed, a White House press release and an SSA email suggested that the OBBB would eliminate federal income taxes on Social Security benefits for “most beneficiaries.” That wasn’t technically correct. IRS Notification The SSA later issued a correction: the bill provides an  enhanced deduction , not a blanket exemption. Unfortunately, the initial wording created widespread misunderstanding and fueled speculation. Example: Before and After Consider an example married couple filing jointly with a MAGI of $140,000. Under the old rules, part of their Social Security benefits would likely be taxable. With the new OBBB deduction, they could subtract $12,000 from their taxable income—potentially lowering their tax bracket and reducing or eliminating taxation on their Social Security benefits. The impact will vary by household, but for some, this could mean  thousands of dollars in tax savings each year from 2025 to 2028 . What Retirees Should Do Review your income plan.  The deduction is temporary—set to expire after 2028—so plan accordingly. Model different income sources.  Required minimum distributions (RMDs), pensions, and rental income can all affect whether you qualify. Work with a tax-aware financial planner.  Coordinating withdrawals, Roth conversions, and other strategies alongside this new deduction can help you maximize the benefit. Stay skeptical of headlines.  Not every law does what the press release says. Bottom Line The OBBB doesn’t erase Social Security taxes, but it does give seniors a valuable, temporary tool to lower taxable income. For many middle-income retirees, this could reduce or eliminate taxes on their Social Security benefits—at least for the next four years. The key is careful planning. By understanding how the deduction works and aligning it with your broader income strategy, you can make the most of this short-term opportunity. https://www.rigdencapital.com/ About Rigden Capital Strategies Rigden Capital Strategies was born out of a simple but powerful idea: financial advice should be personal, transparent, and built around your goals—not generic solutions or product-driven sales. Fueled by decades of experience and a desire to see clients truly succeed, we’ve created a process rooted in value, integrity, and progress. As a fee-only fiduciary, we offer dynamic, stress-tested wealth plans tailored to your life. Our expertise spans investment management, retirement and tax planning, and estate guidance—blending active and passive strategies to help your portfolio through any market. We believe in real relationships, clear strategies, and long-term results. Your goals, our strategies. Together, let’s make your goals happen. Disclosure:  This material is for informational and educational purposes only. It should not be considered investment, tax, or legal advice. The information contained herein is based on current legislation as of 2025 and may change with future updates. Readers should consult with a qualified tax professional, attorney, or financial advisor before making any decisions regarding their personal situation. Investing involves risk, including possible loss of principal.

Starting a new financial advisory relationship is an important step, and at Rigden Capital Strategies, we want every client to feel confident, comfortable, and supported from day one. Our onboarding process is designed to be clear, collaborative, and focused on building a strong foundation for your long-term financial success. Here’s what you can expect as a new client: Step One: Introductory Meeting (15–20 Minutes) Your journey begins with a brief conversation designed to learn more about your goals, priorities, and what you want to accomplish by working with Rigden Capital Strategies. This initial meeting helps us understand your “big picture” and determine if we are the right partner for your needs. Step Two: Intake Forms (15 Minutes) To make the most of your time, we ask you to complete a few short questionnaires. These forms help us gather key details about your financial situation and objectives so we can come prepared for the discovery phase. Step Three: Discovery Meeting (60 Minutes) This is where we dive deeper. Through a detailed, question-and-answer session, we gather the essential information needed to build strategies tailored to you. The discovery meeting forms the foundation of your personalized financial and investment plan. Step Four: Plan Delivery (60 Minutes) Your Wealth Advisor presents your customized, stress-tested wealth plan, complete with charts, visuals, and clear next steps. This is more than a plan—it’s a roadmap for how your strategies align with your goals. Step Five: Implementation & Transfers (Varies) A plan has value only when it’s put into action. During this stage, we work side by side with you to open accounts, transfer assets, and begin implementing your chosen strategies. Our goal is to simplify the process and keep everything moving forward smoothly. Step Six: Ongoing Calibration (Quarterly) Financial planning is not a one-time event—it’s an ongoing process. As your life and circumstances evolve, so will your plan. Regular check-ins with your Wealth Advisor ensure your financial engine remains aligned and responsive to changes. Why Our Process Works At Rigden Capital Strategies, our onboarding process is about more than numbers. It’s about building trust, creating clarity, and laying the groundwork for a long-term partnership. By following a structured, step-by-step approach, we ensure you have the strategies, tools, and confidence to move toward your goals with purpose. About Rigden Capital Strategies Rigden Capital Strategies was founded on a simple belief: financial advice should be personal, transparent, and centered around your goals—not built on generic models or product-driven sales. With decades of combined industry experience, we’ve developed a process grounded in three core values: value, integrity, and progress. As a fee-only fiduciary, we provide personalized, goals-based wealth planning services designed to adapt with your life. Our services include investment management, retirement and tax planning, and estate coordination. We use a mix of active and passive strategies to help clients navigate market changes with clarity and confidence. We believe in building real relationships and delivering clear, actionable strategies—focused on long-term planning and aligned with your objectives. Your goals, our strategies. Together, let’s make your goals happen. Disclosure:  This content is for informational purposes only and does not represent a guarantee of future results. Investing involves risk, including the potential loss of principal. Rigden Capital Strategies is a fee-only fiduciary Registered Investment Advisor. For more information, please visit  www.RigdenCapital.com .

For many investors, real estate is a cornerstone of building wealth. It provides potential appreciation, steady rental income, and diversification outside of traditional stock and bond markets. But when it comes to retirement accounts like IRAs, directly owning physical real estate often creates more headaches than benefits. Before we dive into why, let’s acknowledge what makes real estate powerful in the first place. The Power of Real Estate Ownership Real estate can be a highly effective wealth-building tool for several reasons: Cash Flow:  Rental income can provide steady, inflation-resistant income streams. Appreciation:  Over time, real estate has the potential to grow in value, helping build equity. Leverage:  Mortgages allow investors to control a larger asset with less upfront capital, magnifying returns when property values rise. Tangible Asset:  Unlike stocks and bonds, real estate is a physical asset with intrinsic utility. And perhaps most importantly— Real Estate’s Tax Efficiencies Owning real estate personally comes with powerful tax benefits: Depreciation deductions  can offset rental income. Mortgage interest and expense deductions  reduce taxable income. 1031 exchanges  allow you to defer capital gains by rolling proceeds into another investment property. Step-up in basis  at death can potentially eliminate capital gains for heirs. These advantages are a big part of why real estate has historically played such a strong role in wealth creation. Unfortunately, many of them don’t apply when real estate is owned inside an IRA. Why Real Estate in IRAs Often Falls Short 1. Strict IRS Rules and Penalties If you personally benefit from the property—by staying in it, renting it to a family member, or even performing maintenance—you could trigger a prohibited transaction. That mistake may cause the entire IRA to become immediately taxable, along with penalties. 2. Limited Access to Cash Flow Rental income must remain in the IRA. You cannot use it until you take distributions, and distributions may be taxable. If you hoped for current income, this structure doesn’t help. 3. Maintenance and Liquidity Issues All expenses must be paid from IRA funds. If the account doesn’t have enough cash, you may be forced to sell the property or scramble for contributions, which are subject to annual limits. 4. Loss of Tax Benefits The biggest drawback: none of the powerful tax benefits mentioned earlier apply. Depreciation deductions, 1031 exchanges, and other strategies are off the table. You only get the IRA’s tax treatment, which may not be as advantageous for real estate. 5. UBIT Exposure If leverage is used, income and gains may be subject to Unrelated Business Income Tax (UBIT), creating unexpected bills inside your IRA. 6. Concentration Risk Tying up retirement savings in one illiquid property can reduce flexibility, especially when required minimum distributions (RMDs) begin. Conflicts of Interest with Advisors Recommending Physical Real Estate in IRAs When an advisor recommends holding physical real estate inside an IRA, there are several possible conflicts of interest that investors should be aware of: Custodian and Administrative Fees Real estate held in a self-directed IRA requires a specialized custodian. These custodians often charge higher annual fees, transaction fees, and property management processing fees. An advisor recommending this path may indirectly benefit if they are affiliated with or compensated by the custodian. Commission Structures Unlike fee-only fiduciary advisors, some advisors or salespeople are compensated through commissions tied to the setup of self-directed IRA accounts or the purchase of specific real estate investments. This creates a conflict where the recommendation may be driven by compensation rather than client benefit. Product Placement Incentives Some real estate promoters package properties specifically for IRA investors. Advisors associated with these programs may earn referral fees, marketing allowances, or other incentives that influence their advice. Complexity as a Barrier Physical real estate in an IRA is complicated. If an advisor downplays the risks—such as prohibited transactions, UBIT exposure, or liquidity problems—they may be prioritizing a transaction over your best interest. Diversification Concerns Advisors recommending a large, illiquid real estate investment inside an IRA may knowingly allow a client’s portfolio to become concentrated in a single asset class. That can undermine the retirement account’s role as a diversified savings vehicle. The Fiduciary Standard Matters Fee-only fiduciary advisors are legally obligated to put clients’ interests first. That means disclosing potential conflicts, explaining the risks clearly, and showing how a recommendation aligns with the client’s goals. If an advisor suggests holding physical real estate in your IRA, it’s worth asking: How are you compensated for this recommendation? Are there alternatives that achieve my goals with fewer restrictions or risks? What are the ongoing costs of administration, and who benefits from them? The Bottom Line Real estate is a proven wealth-builder, thanks to its income potential, appreciation, and tax efficiencies. But those benefits largely disappear inside an IRA, while new risks and compliance issues are introduced. For most investors, it makes more sense to hold real estate outside of retirement accounts, where you can use the full suite of tax advantages. Inside IRAs, more traditional investments—like REITs or funds that provide real estate exposure—may offer a simpler, more liquid way to diversify your portfolio. About Rigden Capital Strategies Rigden Capital Strategies was born out of a simple but powerful idea: financial advice should be personal, transparent, and built around your goals—not generic solutions or product-driven sales. Fueled by decades of experience and a desire to see clients truly succeed, we’ve created a process rooted in value, integrity, and progress. As a fee-only fiduciary, we offer dynamic, stress-tested wealth plans tailored to your life. Our expertise spans investment management, retirement and tax planning, and estate guidance—blending active and passive strategies to help your portfolio through any market. We believe in real relationships, clear strategies, and long-term results. Your goals, our strategies. Together, let’s make your goals happen. Disclaimer:  This post is for educational purposes only and is not intended as tax or investment advice. Investors should consult with a qualified financial planner or tax professional before making decisions about retirement accounts and real estate.

As an investment advisory firm, we are always keeping a close eye on economic indicators that can impact your portfolio. The latest labor market data, hot off the press from August 2025, paints a sobering picture that demands our attention. Federal Reserve Chair Jerome Powell’s recent focus on the labor side of the Fed’s dual mandate—price stability and maximum employment—has been validated by this data. Let’s break down the key takeaways, what they mean for markets, and how you can position your investments in this environment. The Big Picture: A Cooling Labor Market The August jobs report was a stark reminder that the labor market is losing steam. Nonfarm payrolls added just 22,000 jobs, missing the consensus estimate of 75,000 by a wide margin. Private payrolls weren’t much better, growing by only 38,000 against the same 75,000 expectation. Revisions to prior months shaved off 21,000 jobs, pushing June into negative territory with a loss of 13,000 jobs—the first outright contraction since December 2020. The three-month average for both total and private payrolls growth is now a meager 29,000, signaling a significant slowdown. Nominal aggregate incomes are growing at a sluggish 2.4% annualized pace over the past three months, with flat hours worked and a modest 0.3% rise in average hourly earnings. This anemic income growth points to weaker consumer spending power, which could ripple through the economy. The Household Survey offered a slightly brighter note, with the labor force growing after three months of contraction and employment rising by 288,000. However, this follows a 260,000 drop in July, so the net gain is less impressive. Labor force participation and prime-age employment rates ticked up, but the headline U-3 unemployment rate climbed to a new cycle high of 4.32%, up nearly 8 basis points. The broader U-6 underemployment rate, which includes part-time and marginally attached workers, jumped 20 basis points to 8.1%, also a cycle high. Digging Deeper: Warning Signs Abound The data reveals a labor market stuck in stasis, with mounting signs of deterioration. Job creation is narrowing, driven almost entirely by acyclical sectors like healthcare and social assistance. Cyclical sectors—manufacturing, construction, and trucking—are shedding jobs, losing an average of 14,000 jobs per month over the past three months. Construction employment alone fell by 7,000 in August, and with homebuilding activity slowing, further declines are likely. Other red flags are piling up: Native-born and college-educated unemployment rates  are near cycle highs. The Conference Board’s labor market differential  hit a new cycle low, reflecting worsening perceptions of job availability. NFIB respondents  increasingly cite poor sales as their top concern, hitting a cycle high. A growing number of workers report zero wage growth , and those not in the labor force but wanting to work have surged to new cycle highs. JOLTS job openings  dropped to their second-lowest level since 2021, with the ratio of openings to unemployed workers falling below 1 for the first time since early 2021. Healthcare job openings , a key driver of payroll growth, plummeted to their lowest since 2020, and hours worked in the sector hit a record low. These trends suggest that the unemployment rate may be understating the true extent of labor market slack. Layoffs, while still low, are creeping higher, and quit rates in construction have crashed to 2009 levels. The ISM manufacturing PMI’s employment index remains in contraction, and the Beige Book reported stagnant activity and employment levels in August. What’s Driving This? Not Just Immigration Some have pointed to immigration dynamics to explain the labor market’s struggles, but the August data shows little evidence of this. The native-born unemployment rate, college-educated unemployment, and other metrics are deteriorating independently of immigration effects. The labor market’s challenges are rooted in softening demand and a buildup of slack, not just supply-side factors. The Fed’s Response: A September Cut Is Certain The Federal Reserve is paying close attention. A rate cut at the September FOMC meeting is a done deal, with even hawkish members aligning with the need for easing. The debate now centers on the size of the cut—25 or 50 basis points. While doves may push for a larger 50-basis-point cut given the labor market’s trajectory, hawks, still focused on inflation, may resist. However, the data suggests a more aggressive response is warranted. Governor Waller has warned of a potential “non-linear deterioration” in the labor market, and Powell appears to be taking this seriously. The market-implied terminal rate—the expected endpoint of the Fed’s policy rate—has been trending lower, reflecting growing concerns about economic weakness. This isn’t the benign cooling we saw last year, driven by labor supply improvements. Instead, it’s a more concerning demand-driven slowdown, increasing the risk of a sharper economic downturn. Implications for Investors Equity markets have been resilient, interpreting weak data as a signal for more rate cuts, which historically support risk assets. However, this time feels different. Last year’s proactive cuts supported markets as the labor market cooled gradually. This year’s cuts appear more reactive, responding to mounting downside risks. Reactive cuts are less bullish for equities, especially if economic weakness accelerates. That said, the “Powell Put”—the Fed’s commitment to support the labor market—remains in play. Any significant market weakness is likely to be shallow and short-lived, as the Fed prioritizes employment. This creates opportunities for investors to lean into equities, particularly cyclical and growth stocks, during periods of weakness. Start preparing your shopping list for potential dips. Looking Ahead: Benchmark Revisions and Beyond On Tuesday, we’ll get the preliminary benchmark revisions for the Establishment Survey, which adjust employment estimates based on state unemployment insurance data for the year ending March 2025. Last year’s revisions were negative, and many expect the same this time. However, these revisions won’t tell us much we don’t already know. The labor market is cooling, payroll growth is slowing, and slack is building. The revisions are backward-looking and won’t change the forward-looking risks. Positioning Your Portfolio As an investment advisor, my advice is to stay vigilant but not overly bearish. The labor market’s slowdown increases the likelihood of rate cuts, which can support equities in the short term. However, the risk of a “growth startle”—a sudden market reaction to worsening economic data—is rising. Here’s how to position your portfolio: Stay diversified : Balance exposure to cyclical sectors (e.g., industrials, materials) with defensive sectors (e.g., healthcare, utilities). Monitor opportunities : Be ready to buy into market dips, particularly in growth and cyclical stocks, as the Fed’s labor-focused policy should limit downside. Watch for tariff impacts : Rising tariffs could pressure inflation and corporate margins, further weakening labor demand. Keep an eye on consumer staples and discretionary sectors. Income focus : With nominal income growth slowing, prioritize investments with stable cash flows, such as dividend-paying stocks or high-quality bonds. Final Thoughts The August jobs report confirms that the labor market is cooling, with mounting risks of a sharper slowdown. While the Fed is poised to act, the nature of this easing cycle—reactive rather than proactive—suggests a bumpier road for risk assets. However, the Powell Put provides a safety net, making significant downturns a potential buying opportunity. Stay informed, stay diversified, and be ready to act when the market presents opportunities. As always, we are here to help you navigate these shifts and keep your financial goals on track.   About Rigden Capital Strategies Rigden Capital Strategies was born out of a simple but powerful idea: financial advice should be personal, transparent, and built around your goals—not generic solutions or product-driven sales. Fueled by decades of experience and a desire to see clients truly succeed, we’ve created a process rooted in value, integrity, and progress. As a fee-only fiduciary, we offer dynamic, stress-tested wealth plans tailored to your life. Our expertise spans investment management, retirement and tax planning, and estate guidance—blending active and passive strategies to help your portfolio through any market. We believe in real relationships, clear strategies, and long-term results. Your goals, our strategies. Together, let’s make your goals happen. Disclaimer:  This post is for educational purposes only and is not intended as tax or investment advice. Investors should consult with a qualified financial planner or tax professional before making decisions about retirement accounts and real estate.

For many business owners, the enterprise itself represents the majority of personal net worth. While reinvesting profits can drive growth, concentrating wealth in a single asset—especially one tied to operational risk—can expose owners to volatility, liquidity constraints, and succession uncertainty. Diversifying personal wealth beyond the business may help reduce risk and support long-term financial independence and legacy goals. Diversification: Why and how to do it. Why Diversification Matters Entrepreneurs often delay personal wealth planning, assuming the eventual sale or transition of their business will fund retirement or generational wealth. However, market conditions, valuation challenges, and timing risks can disrupt even the most well-intentioned exit strategies. A diversified portfolio provides stability, flexibility, and control—regardless of business performance. Key Benefits: Risk Reduction : Spreads exposure across asset classes, reducing reliance on a single business outcome. Liquidity Access : Enables owners to meet personal financial goals without drawing from business reserves. Tax Efficiency : Strategic asset placement can minimize tax drag and optimize after-tax returns. Estate Planning Alignment : Supports multi-generational wealth transfer independent of business succession. Diversification Strategies for Business Owners Effective diversification requires more than purchasing stocks—it involves building a coordinated portfolio aligned with personal goals, risk tolerance, and business exposure. Strategy Purpose Considerations Public Market Investments Growth and income through equities and bonds Tax location, volatility, and time horizon Private Equity & Debt Access to non-public companies and credit Illiquidity risk, accreditation requirements Real Assets Inflation hedge and income generation Includes real estate, infrastructure, farmland Structured Products & Derivatives Risk management and enhanced yield Requires advanced planning and oversight Tax-Advantaged Retirement Plans Long-term wealth accumulation Solo 401(k), SEP IRA, Defined Benefit Plans Note: Investment suitability depends on individual financial circumstances and regulatory eligibility. Coordinating Business and Personal Wealth Diversification should not occur in isolation. Our advisors help clients integrate personal investment strategies with business planning to ensure consistency and efficiency across both domains. Entity Structuring : Aligning business structure with personal tax strategy Liquidity Event Planning : Preparing for sale or transition with minimal tax impact Insurance Optimization : Protecting both business and personal assets Legacy Design : Coordinating trusts, charitable giving, and estate plans Our Approach At Rigden Capital Strategies, we specialize in helping business owners build resilient personal wealth strategies that complement their entrepreneurial journey. Our process includes: Comprehensive financial discovery and goal mapping Customized portfolio construction across public and private markets Tax coordination with your CPA or legal team Ongoing monitoring and rebalancing to reflect changing priorities Fee-Only, Independent, and Fiduciaries. Take the Next Step If your personal wealth is still tethered to your business, it’s time to explore a broader strategy. Diversification is not about abandoning your enterprise—it’s about protecting what you’ve built and ensuring it serves your long-term vision. Schedule a confidential consultation today to discuss how our wealth management process may support your diversification strategy . Your goals, our strategies. Together, let’s make your goals happen. Rigden Capital Strategies is a trusted partner for individuals seeking wealth management and financial planning. Our fee-only fiduciary approach ensures that every recommendation is made with our clients' best interests in mind. We develop customized financial plans, combining strategic investment management with proactive tax and retirement planning to help clients achieve their long-term financial goals. Disclosure:  This content is for informational and educational purposes only and should not be interpreted as financial, legal, or tax advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information provided. Investment decisions should be based on individual circumstances, and we recommend consulting a qualified professional before implementing any financial, legal, or tax strategies. Past performance is not indicative of future results, and all investments carry risks, including potential loss of principal. No investment strategy can guarantee success or protect against loss in all market conditions. Investors should carefully consider their risk tolerance, investment objectives, and financial circumstances before making investment decisions. Check out our other insights at https://www.rigdencapital.com/blog .

Insurance plays a central role in protecting your financial well-being. While investments and savings help you grow wealth, insurance safeguards it from unexpected events. But how often should you review your policies? Which types of insurance are essential—and which might be unnecessary? How Often to Review Insurance Policies Life doesn’t stand still—and neither should your insurance coverage. A good rule of thumb is to  review your policies annually  and anytime you experience a major life event, such as: Marriage or divorce Buying or selling a home Having a child or adopting Career changes or retirement Significant changes in health or income Annual reviews help ensure your coverage still aligns with your financial goals and protects your family in a cost-effective way. Core Insurance for a Healthy Financial Plan Certain types of insurance form the foundation of a strong financial plan: 1.  Health Insurance Health coverage is non-negotiable. Unexpected medical bills can derail even the best-laid financial plans. Whether through your employer, Medicare, or the marketplace, maintaining adequate health insurance is critical. 2.  Life Insurance If others depend on your income, life insurance helps ensure they’ll be financially protected if something happens to you. Term life insurance is often a cost-effective way to provide coverage during working and family-raising years. 3.  Disability Insurance Your income is one of your most valuable assets. Disability insurance protects it if an illness or injury prevents you from working. Short-term and long-term coverage can be essential, especially during peak earning years. 4.  Homeowners or Renters Insurance Your home and possessions represent significant investments. Homeowners (or renters) insurance protects against loss, theft, or damage and often provides liability protection as well. 5.  Auto Insurance Required by law in most states, auto insurance protects both your vehicle and liability if you’re involved in an accident. 6.  Umbrella Insurance Umbrella coverage provides an extra layer of liability protection beyond your homeowners and auto policies. It’s often inexpensive and especially important for high-net-worth individuals. 7.  Long-Term Care Insurance As healthcare costs rise, long-term care insurance can help cover expenses for nursing homes, assisted living, or in-home care. This is especially relevant for retirees concerned about preserving assets. Types of Insurance You Might Not Need Not all insurance products are worth the cost. Some are often redundant, overpriced, or provide limited value: Extended Warranties:  Typically unnecessary, as many products already come with manufacturer protection. Flight Insurance:  Duplicates coverage often provided by life insurance and credit cards. Credit Card Protection Insurance:  Expensive for the benefits provided; most credit card companies already cover fraudulent activity. Pet Insurance:  Useful in some cases, but often better to build a savings fund for pet-related expenses. Mortgage Insurance (PMI):  Instead of relying on private mortgage insurance, building a larger down payment may be more cost-effective. The Bottom Line Insurance isn’t just about policies—it’s about protecting your financial security. By reviewing your coverage annually and after major life events, you’ll ensure your protection keeps pace with your changing needs. Focus on the core policies that protect health, income, property, and family. Be cautious with add-ons and niche products that may offer little real value. A well-structured insurance plan is one of the cornerstones of long-term financial health. Rigden Capital Strategies was founded on a simple belief: financial advice should be personal, transparent, and centered around your goals—not built on generic models or product-driven sales. With decades of combined industry experience, we’ve developed a process grounded in three core values: value, integrity, and progress. As a fee-only fiduciary, we provide personalized, goals-based wealth planning services designed to adapt with your life. Our services include investment management, retirement and tax planning, and estate coordination. We use a mix of active and passive strategies to help clients navigate market changes with clarity and confidence. We believe in building real relationships and delivering clear, actionable strategies—focused on long-term planning and aligned with your objectives. Your goals, our strategies. Together, let’s make your goals happen. Disclosure:  This content is for informational and educational purposes only and should not be interpreted as financial, legal, or tax advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information provided. Investment decisions should be based on individual circumstances, and we recommend consulting a qualified professional before implementing any financial, legal, or tax strategies. Past performance is not indicative of future results, and all investments carry risks, including potential loss of principal. No investment strategy can guarantee success or protect against loss in all market conditions. Investors should carefully consider their risk tolerance, investment objectives, and financial circumstances before making investment decisions.

A common questions retirees face is whether they need to make estimated tax payments throughout the year. The answer depends on your sources of income and how taxes are (or aren’t) withheld. Understanding Estimated Taxes Estimated tax payments are the IRS’s way of making sure taxes are collected as income is earned, rather than waiting until you file your annual return. While employees typically have income tax withheld from paychecks, retirees often receive income from multiple sources that may not have withholding automatically applied. IRS Tax Withholding and Estimated Tax Common Retirement Income Sources Social Security Benefits:  These may be taxable depending on your overall income. You can elect to have taxes withheld, but many retirees don’t, which can lead to a surprise tax bill. Request to withhold Taxes Pension Income:  Some pensions offer withholding, but it may not fully cover your liability. IRA and 401(k) Withdrawals:  Taxes can be withheld at the time of withdrawal, but if you take irregular distributions, you might come up short. Dividends, Interest, and Capital Gains:  These usually don’t have automatic withholding, making estimated taxes necessary. Rental Income or Other Earnings:  If you’re still earning income in retirement, you may need to make quarterly payments. Do You Need to Pay Quarterly? The IRS requires estimated payments if both apply: You expect to owe at least $1,000 in tax after subtracting withholding and credits. You expect your withholding and credits to be less than the smaller of: 90% of the current year’s tax liability, or 100% of last year’s tax liability (110% for higher-income taxpayers). Options for Retirees Adjust Withholding:  You can increase withholding on Social Security, pensions, or IRA withdrawals to cover your liability and avoid quarterly payments. Make Quarterly Payments:  If withholding adjustments aren’t possible or sufficient, quarterly estimated payments may be required. IRS Estimated Tax Tool Safe Harbor Rules:  As long as you pay the required percentage of your prior year’s tax liability, you’ll generally avoid penalties—even if your actual tax owed is higher. Key Takeaway Not every retiree needs to pay estimated taxes quarterly. If your income sources provide enough withholding, you may not have to. But if you’re relying on investments, rental income, or irregular withdrawals, quarterly payments can help you avoid underpayment penalties. Tip:  Review your income and tax withholding at least once a year—ideally mid-year—to make adjustments. Consulting with a tax professional can help you decide whether quarterly estimated payments make sense for your situation. About Rigden Capital Strategies Rigden Capital Strategies was born out of a simple but powerful idea: financial advice should be personal, transparent, and built around your goals—not generic solutions or product-driven sales. Fueled by decades of experience and a desire to see clients truly succeed, we’ve created a process rooted in value, integrity, and progress. As a fee-only fiduciary, we offer dynamic, stress-tested wealth plans tailored to your life. Our expertise spans investment management, retirement and tax planning, and estate guidance—blending active and passive strategies to help your portfolio through any market. We believe in real relationships, clear strategies, and long-term results. Your goals, our strategies. Together, let’s make your goals happen. Disclosure:  This content is for informational and educational purposes only and should not be interpreted as financial, legal, or tax advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information provided. Investment decisions should be based on individual circumstances, and we recommend consulting a qualified professional before implementing any financial, legal, or tax strategies. Past performance is not indicative of future results, and all investments carry risks, including potential loss of principal. No investment strategy can guarantee success or protect against loss in all market conditions. Investors should carefully consider their risk tolerance, investment objectives, and financial circumstances before making investment decisions.

In early 2025, the “One Big Beautiful Bill” (OBBB) introduced a brand-new program designed to give children a financial head start:  Trump Accounts for Kids . While the name comes from President Donald Trump, the legislation was ultimately championed by Senator Ted Cruz (R–Texas) and gained bipartisan attention for its similarities to “baby bond” proposals seen in past years. The idea is simple—help American children begin life with an investment account that grows alongside them, fueled by both government and family support. Think of it as a blend between a  529 college savings plan  and a  retirement account but with liquidity at age 30. Key Features of Trump Accounts 1. Initial Deposit Every eligible child receives a $1,000 “seed” deposit from the federal government. 2. Eligibility Children born between  January 1, 2025, and December 31, 2028  qualify for the program. 3. Annual Contributions Parents, relatives, or even employers can contribute up to  $5,000 annually  (indexed for inflation) into a child’s account. 4. Investment Strategy Funds are invested in a  low-cost index fund  tracking the overall U.S. stock market—keeping it simple, broad, and growth-oriented. 5. Tax Benefits Earnings grow  tax-deferred , giving families a long-term advantage similar to retirement accounts. 6. Withdrawal Rules Age 18 : Access to half the portfolio’s value. Age 25 : Access to the full account balance for qualified purposes (higher education, starting a business, etc.). Age 30 : Complete control of the funds with no restrictions. Why It Matters The program is designed to highlight the  power of compounding . By starting with $1,000 at birth—and allowing families to add contributions each year—the account can grow substantially over decades. Even relatively modest deposits could give young adults a strong financial foundation for college, entrepreneurship, or other major life steps. The initiative reflects a growing consensus in Washington: children and young adults face rising costs for education, housing, and business opportunities, and early financial support may help bridge that gap. The Legislative Context The program was originally floated by Donald Trump during his campaign and folded into the  One Big Beautiful Bill , signed into law in 2025. According to a White House statement, the accounts are meant to help children  “experience the miracle of compounded growth and set them on a course for prosperity.” While politically branded, the policy resembles Democratic-backed “baby bonds,” showing how the idea of children’s savings accounts has gained traction across the aisle. What Families Should Know For parents of children born between 2025 and 2028, this program may become a central tool in their long-term planning. Much like 529 plans or Roth IRAs, Trump Accounts introduce another tax-advantaged bucket for families to use. Whether you choose to contribute the maximum each year or just let the government’s seed money grow, these accounts could play a meaningful role in shaping your child’s financial future. Next Step:  If you have questions about how Trump Accounts fit alongside 529 plans, custodial accounts, or other long-term planning strategies, working with a qualified financial advisor can help you decide how best to integrate them into your family’s financial picture. https://www.rigdencapital.com/ About Rigden Capital Strategies Rigden Capital Strategies was born out of a simple but powerful idea: financial advice should be personal, transparent, and built around your goals—not generic solutions or product-driven sales. Fueled by decades of experience and a desire to see clients truly succeed, we’ve created a process rooted in value, integrity, and progress. As a fee-only fiduciary, we offer dynamic, stress-tested wealth plans tailored to your life. Our expertise spans investment management, retirement and tax planning, and estate guidance—blending active and passive strategies to help your portfolio through any market. We believe in real relationships, clear strategies, and long-term results. Your goals, our strategies. Together, let’s make your goals happen. Disclosure:  This content is for informational and educational purposes only and should not be interpreted as financial, legal, or tax advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information provided. Investment decisions should be based on individual circumstances, and we recommend consulting a qualified professional before implementing any financial, legal, or tax strategies. Past performance is not indicative of future results, and all investments carry risks, including potential loss of principal. No investment strategy can guarantee success or protect against loss in all market conditions. Investors should carefully consider their risk tolerance, investment objectives, and financial circumstances before making investment decisions.