Speaker 1: It seems like year to year, the regulations and changes in tax law is constant. It's like ever changing. So how do you stay updated with that and how do you manage that from expectation? It seems like you could have two similar scenarios in two separate years and you're doing two different things based on how the laws are going. How do you handle that and how do you stay updated?

Speaker 2: I'll tell you the last part, how do you stay updated? As a CFP certified financial planner, we do have continuing ed requirements that that's not a designation you earn by passing a test. It's a credential you keep by continuing your education. And so my focus working in retirement distribution then that market of sustaining assets to support your lifestyle, you can imagine the continuing education I will pursue will be more about income taxation and more research and knowledge is coming about in that particular discipline. So that's really what I would seek. And I spend a great deal of my time with continuing ed, with just reading. There's a lot of times you're talking with clients, but there's a lot that you don't see when you work with someone, if they're doing a good job for you, that they're spending a lot of time researching and reading and staying on top of those things. And I think our industry does a good job. I affiliate with Raymond James as a broker dealer. They do a good job of bringing some of those educational opportunities to our attention. And the part of that is constantly changing. When I started in the industry, I remember taking my exams and literally the exam taught you this is the old tax law and this is the new tax law. And the reason was you were still dealing with some people that were in the old regime, even though in three, four or five years, it was gonna be gone, but they had to live in the here and now. So that's always been the case is that those laws are constantly changing. And to be on top of that, here's another value of working with a fiduciary and with a financial planner is that those laws, we do know sometimes when they're going to change. Really for the past 20 years, we've had legislation that gets passed that will sunset. So for example, we are in tax brackets and taxation boundaries today that we will not have in 2026. They'll go back to the way they were if nothing else changes. So that creates some opportunities. Do we want to excel? You were asking me how to avoid taxes. Do we want to owe taxes now and pay taxes at the rates of today, knowing that if we did the same thing in a few years from now, we might owe more tax. And so again, that's really just part of that conversation is when we bring people to the table, we give them all of these resources, are we paying an appropriate amount of tax? Is it wise to accelerate taxes now because you're going to pay them sooner or later? Let's pay them now when we know the rates are lower. I don't think rates are going to be lower 10 years from now. So let's take advantage of that. Those are all the conversations that take place. And right now, we're still in a situation where converting say to a Roth IRA makes a good bit of sense because you're paying less tax to convert that Roth than you would if you did it exactly the same in a few years from now. Those are the kinds of conversations that we have with people just to educate them and get them to think about not only what they're growing their assets by, but really it's what you keep, it's what you put in your pocket. So the net of tax numbers is a critical part of the puzzle.

Speaker 1: Yeah, I feel like that's an understated aspect of your job is to constantly keep up with that and kudos to you for doing so good.

Speaker 2: I was talking about continuing it. I just got back from a, Raymond James hosted an advanced planner educational event or a couple of, it was just a day and a half down at our offices in St. Petersburg. And that was a big part of it was the net of tax total return of an investment. And so having an investment with tax efficiency in it, the money you save by owing less tax is far more significant than the cost of the investment, that it had more of an impact than that. It really made a significant difference to the investor in the long run, again, back to how much you keep. And that wealthier tech guy who sold his company and has high income, those, the higher your tax brackets, the more valuable that type of planning would be. So if you like what you heard today and any of our discussion resonates with you, we always say here at Good Financial Services, it all starts with a conversation. So just write in the comments below or go to our website, goodfinancial.com and just check off that you'd like to set up a conversation and we're happy to just chat and see where your situation is and I'm sure we can provide advice and help along the way.