Navigating Policy and Market Shifts As the year draws to a close, our focus at Dillow Wealth Management turns to planning for the year ahead. We've reviewed Morgan Stanley's 2026 Economic Outlook, and I wanted to share the key takeaways that could shape our financial environment. The outlook suggests a complex picture as the economy emerges from a period of policy uncertainty, with the following highlights: Growth & Labor Market GDP : Expect a challenging start to 2026 with t

Summary The economic outlook at the close of Q3 2025 is marked by significant fiscal and geopolitical uncertainty. The One, Big, Beautiful Bill (OBBBA) is projected to add $4.1–$5.5 trillion to the national debt, potentially pushing debt-to-GDP over 130%. Inflation is expected to rise to 3.0–3.5% by Q4 2025, driven by the current 15.8% effective tariff rate (the highest since the 1930s). Geopolitical conflicts in the Middle East are keeping a risk premium on oil, delaying the

The “Big Beautiful Bill” moves a long list of TCJA-era tax rules from temporary to (mostly) permanent and layers on targeted new opportunities and limits for both individuals and business owners. For affluent and ultrahighnetworth families—particularly those who built and still own operating companies—this is as much a legacy and exitplanning bill as it is an income tax bill. Below is DWM’s highlevel take on what matters most, and what to start planning for now. Summary Indiv