Hey, it’s Noah. A big thank you to everyone who attended our golf range event yesterday! It was great to see you, and we had a fantastic time together. The day was also a clear reminder that I need a lot more practice if I want to improve my golf game!😊
Let’s dive into a quick two-minute update on the economy, an interesting story, and a financial planning secret from your local Spokane financial advisor.
📊 Economy – Market Tariffs Could Be Delayed Again
The White House press secretary suggested the July 9 deadline for trade deals isn’t firm, hinting that new tariffs could be postponed. Trump has already pulled back some of the steep tariffs he threatened in April, and recent trade deals have reassured investors.
Markets are now hopeful that two expected interest rate cuts, corporate tax relief, and deregulation will help push stocks higher. However, until those changes take effect, we can expect continued volatility in the near term.
🌍 Interesting Story – Iran & Israel Cease-fire Holds (For Now)
The 12-day war between Israel and Iran ended as suddenly as it began, with President Trump announcing a cease-fire on social media. The conflict started with Israel’s strikes on Iran’s military defenses and leadership, severely weakening Iran’s regime, and escalated when U.S. bombers targeted Iran’s nuclear sites.
The extent of the damage to Iran’s nuclear program remains unclear. Trump and the U.N. atomic agency say it was “obliterated,” while Iran claims the strikes only delayed its program by a few months. Trump said the U.S. plans to meet with Iran “next week”, though Iran’s foreign minister denied any talks are scheduled. For now, the cease-fire seems to be holding, despite both sides accusing the other of early violations.
💡 Financial Planning Tip – QCDs Saved a Spokane Couple $66K
If you’re over age 70½, you gain access to a powerful retirement tax tool: the Qualified Charitable Distribution (QCD). This allows you to give up to $108,000 per year, per person, directly from your IRA to a nonprofit, fulfilling your RMD and avoiding income tax.
We worked with a couple here in Spokane who had been giving over $15,000 a year from their savings to their church. We helped them switch to QCDs, letting them give through a dedicated IRA checkbook. Since they’re in the 22% tax bracket, this change saves them $3,300 annually, adding up to $66,000 in tax savings over 20 years, just by using the right strategy.
As a Spokane financial advisor, I’m here to help you make smart moves with your money.
If you'd like to see how we can bring value to your retirement plan, schedule a no-cost, no-commitment discovery call today.
About the Author
Noah Schwab CFP® is a financial advisor in Spokane, Washington, helping retirees with $1M+ in their 401(k) maximize their savings through Roth conversions and tax strategies.
- No commissions or insurance
- Investment management, tax, and financial planning
