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Mark Struthers, a Certified Retirement Counselor, hosts the Healthy and Wealthy Retirement YouTube channel, focusing on holistic aspects of retirement beyond finances, including social, physical, and emotional wellbeing. In a recent video, he discusses the impending expiration of the Tax Cuts and Jobs Act (TCJA), set for 2026, and the impact of its sunsetting on tax planning strategies. Struthers highlights the importance of understanding the federal tax exemption amounts, showing a graphic indicating a projected decrease from over $14 million in 2025 to about half in 2026, affecting couples with significant wealth. The video emphasizes the potential need for gifting as a strategy, touching on the annual gift tax exclusion amount, currently at $18,000 and expected to rise. Struthers recommends that clients consider not just their current net worth but their potential future wealth to prepare for post-TCJA scenarios. The video presents educational graphics and advice, including the significance of direct gifts, educational expenses, and medical payments, as these are not subject to lifetime exemption or annual exclusion limits. Viewers are encouraged to consider gifting through annual exclusion amounts and 529 plans, especially given that contributions to 529s are not included in estate calculations yet offer the contributor control over the assets. The concept of Roth IRAs is also discussed, especially for children with earned income, as the contributions can be withdrawn tax and penalty-free and are not usually considered in financial aid calculations. Struthers presents a Buffett quote that advocates for carefully considering the impact of wealth transfer on heirs, encouraging informed decisions based on tax implications and personal values. The video also addresses state-level considerations, using Minnesota as an example, highlighting its relatively high-income tax rates and low estate tax exemption amounts. **Segment 1: [00:00:00 – 00:00:31]** Key Themes: 1. Introduction to holistic retirement planning 2. Focus on multi-dimensional wellbeing in retirement **Segment 2: [00:00:31 – 00:02:11]** Key Themes: 1. Tax legislation and retirement planning 2. Sharing knowledge and resources from a recent wealth management conference 3. Upcoming changes to federal tax exemption amounts **Segment 3: [00:02:11 – 00:05:14]** Key Themes: 1. Gifting strategies as part of retirement and estate planning 2. Anticipated growth in net worth and its implications 3. Sharing educational graphics and tools for better understanding **Segment 4: [00:05:14 – 00:08:18]** Key Themes: 1. The possibility of legislative changes affecting retirement planning 2. Different gifting mechanisms like tuition, medical expenses, and 529 plans 3. The use of Roth IRAs in wealth transfer and retirement planning **Segment 5: [00:08:18 – 00:09:50]** Key Themes: 1. Gift tax considerations and advantages of starting early 2. The irrevocable nature of gifts and the importance of planning **Segment 6: [00:09:50 – 00:12:37]** Key Themes: 1. Charitable giving as part of asset management 2. Importance of informed decision-making and consequences 3. Tailoring advice and actions to individual values and goals Insights: The conversation with Mark Struthers focuses on the multi-faceted aspects of retirement planning, including tax laws, gifting strategies, charitable giving, and the holistic approach to retirement that goes beyond finances. As a certified retirement counselor, he uses his platform to share valuable insights and industry knowledge, especially about upcoming changes due to the expiration of the TCJA in 2026. The emphasis is on both educating clients about their options and encouraging them to make well-considered, informed decisions that reflect their values and long-term goals. He also discusses the various tools and strategies that can be employed, like Roth IRAs and 529 plans and the necessity of considering legislative changes when planning for the future. Disclosure Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document. This video is for educational purposes only. Nothing discussed during this show/episode should be viewed as investment advice. If you have questions pertaining to your specific situation, please consult your own financial professional.

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