Happy Friday! Our free giveaway is live this weekend. Like and comment on our Facebook or LinkedIn post with your favorite financial advice to win some of our merch (windbreaker, jacket, backpack, or Yeti mug). Let's dive into a two-minute look at the economy, an interesting story, and a financial planning secret.
Economy - Consumer Confidence at 3-Year Low
Trump is considering a 25% tariff on cars and imported parts to boost American manufacturing. Additionally, reciprocal tariffs are scheduled to take effect on April 2, matching all countries' tariffs against those of the US.
PCE inflation data for today was 0.1% higher than expected at 2.8%. It's not too alarming, but it's likely making the Fed more cautious. Consumer confidence is at a three-year low, which is understandable given the number of new Trump executive orders and the uncertain economic implications.
Interesting Story – U.S. Secret War Plans Sent to the Wrong Person
The Atlantic’s Editor-in-Chief was mistakenly added to a Signal chat (an open-source, encrypted messaging service) where top U.S. officials planned strikes on Houthi rebels in Yemen. Despite officials denying that classified details were shared, the editor reported that the chat included precise attack plans. The Atlantic later published the full transcript, showing the Defense Secretary discussing bombing schedules before strikes. As of today, the Attorney General said she’s unlikely to open an investigation into the leak.
Financial Planning Secret– Roth VS Traditional
Our most-read blog post is our “Traditional IRA VS Roth IRA” article, which I wrote in 2023. The numbers are outdated, but the concepts are the same. Roth and traditional IRAs offer tax benefits but differ in how and when taxes are paid—traditional IRAs provide tax deductions now but require taxable withdrawals starting at age 73. In contrast, Roth IRAs require after-tax contributions but allow tax-free withdrawals. As Spokane financial advisors, we help clients anticipate their future income and choose the option that minimizes their lifetime tax burden. The rule of thumb: if your tax bracket is lower now than in retirement, pay the taxes upfront with a Roth; if your bracket will be lower in retirement, take the deduction now with a traditional IRA.
To talk with a Spokane financial advisor, schedule a no-cost, no-commitment discovery call today.
About the Author
Noah Schwab CFP® is a financial advisor in Spokane, Washington, specializing in helping retirees with 401k Roth conversion strategies.
- Fiduciary. No commission, no insurance products
- Offering investment management and financial planning
