Summer Wrap-Up & Considerations for Year-End 2025

Mitch C. Walsh, MBA, CFP®

September 19, 2025

As another hot Michigan summer transforms into a cool fall, it’s a good time to look back on what the summer months brought for the markets and look forward to what we expect to see for the rest of 2025. 

We’ve seen a volatile market transition into a new all-time high.  This year has once again tested our diligence as patient investors.  At any point in the last 6 months, it would have been easy to be seduced by the crises of the day – flip-flops on tariffs, political unrest at home, or conflict abroad.  Despite these valid concerns, our clients’ investments have continued to grow.  The businesses they own have continued to serve their customers, earn profits, and valuations have appreciated accordingly.

I would be remiss if I didn’t mention the important role that the international businesses have played this year in our clients’ portfolios.  Over the last several years, many investors have been tempted to eschew international investments in favor of trendy domestic technology stocks.  As we manage our clients’ portfolios, we have diligently maintained international investments and this year is a case study for the reason why.  While the U.S. sovereign credit rating was downgraded and the dollar had its worst start in 50 years, international businesses have significantly outperformed domestic. 

As we prepare to conclude tax year 2025, there are several updates that may impact you including Social Security tax changes and 401k contribution limit increases.  I am including brief summaries via our recommended links here and here.  

Perhaps most important is the continued phase out of Michigan state tax on retirement income including IRA withdrawals.  There are a variety of factors that will impact your ability to take advantage of this for 2025 before everyone is eligible in 2026 – please feel free to reach out to our office to discuss.