As Benjamin Franklin famously said, “in this world, nothing is certain except death and taxes.” Taxes are no one’s favorite topic but their importance cannot be overstated. Tax policy affects every aspect of our financial lives including how much of our paychecks, investment gains, and dividends we keep, in addition to directing our choices of retirement vehicles, estate planning considerations, and much more. This is why tax planning with the help of a trusted financial advisor is important to best achieve our financial goals.

2024 began with debates over a “soft” versus “hard” landing as the Fed attempted to stabilize the economy as well as over the sustainability of last year’s market rally. Only three months later, those concerns have given way to a calmer environment centered around fading inflation and the Fed’s plans for reducing interest rates. This has resulted in a strong market rally with the S&P 500 index, Dow Jones Industrial Average, and Nasdaq gaining 10.2%, 5.6%, and 9.1% year-to-date, respectively.

With major stock market indices hovering around all-time highs, some investors continue to worry about the state of the economy. While trends around inflation and jobs have been positive, putting the Fed in a position to cut rates later this year, there are still many concerns in areas such as real estate.

This is because real estate is not just another asset class but a large sector of the economy that impacts consumer net worth, inflation, financial stability and more. What do long-term investors need to know about stresses in the real estate market?

Markets continue to be driven by artificial intelligence stocks and the timing of the Fed's first rate cut. Beyond the day-to-day swings, these drivers reflect important trends in innovation, productivity, and the health of the economy.

They are also the result of the pandemic-era easy money policies and fiscal stimulus measures that led to booms in the tech sector and rapid price increases. As the dust settles on the inflationary episode of the past few years, what should investors do to maintain perspective in their portfolios?