INDEPENDENT INVESTOR. Outlook 2018: Return of the Business Cycle Video. Client Letter "Impacts of the New Tax Law" December 2017

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1 INDEPENDENT INVESTOR January 2018 In This Issue Outlook 2018: Return of the Business Cycle Video LPL Financial Research Presents A Video Update Client Letter "Impacts of the New Tax Law" December 2017 We hope this educational resource proves helpful. We believe an educated investor is a better investor. Please call us if you have questions. Jeffrey & Sherri Kitzberger Olympus Wealth Partners, Inc. Olympus Wealth Partners, Inc. Founding Partners 3750 Park East Drive Suite 200 Beachwood, OH Fax: jeffrey.kitzberger@lpl.c om partners.com On Friday, December 22, 2017, President Trump signed the 2017 Tax Cuts and Jobs Act into law. Although the depth of detail of this new law may be intimidating, on balance, we believe its passage provides firmer footing for investors as we begin a new year. Marriage and Your Finances Marriage can affect your ability to build wealth, plan for retirement, plan your estate, and capitalize on tax and insurance-related benefits. Start Today! Three Ways to Boost Your Retirement Savings As Americans, we can take pride in the many things we do well. But there's one thing that we could all do better -- and that's saving for the future. Advance Directives: Planning Ahead for Your Own Care Someday you could face a health crisis that leaves you unable to make your own medical decisions, so be prepared.

2 2 Outlook 2018: Return of the Business Cycle Video Outlook 2018: Return of the Business Cycle Video LPL Financial Research Presents A Video Update The video features LPL Financial's Managing Director, Investor and Investment Solutions and Chief Investment Officer Burt White and Chief Investment Strategist John Lynch presenting key themes and economic and market forecasts from LPL Research's Outlook 2018: Return of the Business Cycle. Please click here to view the video: Outlook IMPORTANT DISCLOSURES The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual security. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes. The purchase of certain securities may be required to affect some of the strategies. Economic forecasts set forth may not develop as predicted. This research material has been prepared by LPL Financial LLC. To the extent you are receiving investment advice from a separately registered independent investment advisor, please note that LPL Financial is not an affiliate of and makes no representation with respect to such entity. Not FDIC or NCUA/NCUSIF Insured No Bank or Credit Union Guarantee May Lose Value Not Guaranteed by Any Government Agency Not a Bank/Credit Union Deposit Tracking # (Exp. 12/18)

3 3 Client Letter "Impacts of the New Tax Law" December 2017 December 29, 2017 Dear Valued Investor: We hope that you have enjoyed spending time with loved ones during this holiday season. This time of year often presents an opportunity for some additional rest and relaxation, but there is always the possibility for activity in the markets--or as was the case last week, the government. Last Friday, December 22, 2017, President Trump signed the 2017 Tax Cuts and Jobs Act into law. Although the depth of detail of this new law may be intimidating, on balance, we believe its passage provides firmer footing for investors as we begin a new year. The $1.5 trillion tax cut is a complex, 1,000-page law intended to spur economic activity through a reduction in both individual and corporate tax rates, and simplify the tax code by eliminating or trimming a variety of deductions and exemptions. At a high-level overview: The Joint Committee on Taxation suggests the estimated total cost over 10 years will be just over $1 trillion, with the offset of $500 billion in added revenue from an estimated economic growth impact of +0.7% per year over the next 10 years. The estimated net tax cuts for individuals total approximately $1.15 trillion, or about 77% of the package, a greater focus on individual tax cuts than the original House bill. The estimated net tax cuts for U.S. corporations total around $330 billion, or 23% of the overall package. The new tax law has important implications for major corporations, small businesses, and individual taxpayers, and is designed to shift the trajectory for economic growth, the federal budget, monetary policy, and perhaps most critically for investors--corporate profits. There are legitimate concerns that the new law could increase the potential for higher inflation and weigh on the deficit. Yet U.S. consumers may be poised to reap approximately $100 billion in 2018 and $200 billion in 2019 thanks to the individual tax cuts. Meanwhile, U.S. corporations can potentially boost investment from a combination of lower taxes, repatriated profits, and immediate expensing, further supporting economic growth. Perhaps the biggest immediate takeaway for investors is that the accelerated timeline to pass the law has decreased uncertainty. As a result, individuals and businesses have the opportunity to begin planning around the changes and pulling forward the new law's impact. With the new tax law in play, we are upgrading our projections for 2018 U.S. economic growth to a range of % from our original forecast of 2.5%, raising estimates for corporate profits, and consequently increasing our projection for the S&P 500 Index's price target to a range of by year-end.* Our upgraded S&P 500 target keeps our broad return expectations for 2018 at approximately 10% including dividends. We are maintaining a cautious bond market view, due to the greater risk of rising interest rates. The new tax law should help provide fiscal support for the economy as monetary support is withdrawn. And although it helps decrease the chance of a recession in 2018 and even in 2019, we still expect to see market volatility increase from the extraordinarily low levels that persisted in Nevertheless, for markets and the economy, we believe the new law provides a firmer launching point as we enter the new year. As always, we encourage you to contact your financial advisor with any questions. And from all of us at LPL Research, we wish you a healthy and happy IMPORTANT DISCLOSURES *Based on a trailing 12-month price-to-earnings ratio (PE) of Forecasts are from our Outlook 2018: Return of the Business Cycle publication. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual security. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. Indexes are unmanaged and cannot be invested into directly. Economic forecasts set forth may not develop as predicted.

4 4 This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor. The S&P 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. Investing in stock includes numerous specific risks including: the fluctuation of dividend, loss of principal and potential illiquidity of the investment in a falling market. Bonds are subject to market and interest rate risk if sold prior to maturity. Bond and bond mutual fund values and yields will decline as interest rates rise and bonds are subject to availability and change in price. The PE ratio (price-to-earnings ratio) is a measure of the price paid for a share relative to the annual net income or profit earned by the firm per share. It is a financial ratio used for valuation: a higher PE ratio means that investors are paying more for each unit of net income, so the stock is more expensive compared to one with lower PE ratio. This research material has been prepared by LPL Financial LLC. Securities offered through LPL Financial LLC. Member FINRA/SIPC. Tracking # (Exp. 12/18)

5 5 Marriage and Your Finances A prenuptial agreement permits couples to keep their finances separate, protect each other from debt, and take actions that could limit the rights of either partner. Marriage affects your finances in many ways, including your ability to build wealth, plan for retirement, plan your estate, and capitalize on tax and insurance-related benefits. State and federal laws on these subjects provide default positions. Some of these baseline conditions can be modified by a prenuptial agreement, a contract that permits a couple to keep their finances separate, protect each other from debt, and take other actions that could limit the rights of either partner. Building Wealth If both you and your spouse are employed, two salaries can be a considerable benefit in building long-term wealth. For example, if both of you have access to employer-sponsored retirement plans and each contributes $18,000 a year to a 401(k), as a couple you are contributing $36,000, far in excess of the maximum contribution of an individual ($18,000 for 2017). 1 Similarly, a working couple may be able to pay a mortgage more easily than a single person can, which may make it possible for a couple to apply a portion of their combined paychecks for family savings or investments. Retirement Benefits Some (but not all) pensions provide benefits to widows or widowers following a pensioner's death. When participating in an employer-sponsored retirement plan, married workers are required to name their spouse as beneficiary unless the spouse waives this right in writing. Qualifying widows or widowers may collect Social Security benefits up to a maximum of 50% of the benefit earned by a deceased spouse. Estate Planning Married couples may transfer real estate and personal property to a surviving spouse with no federal gift or estate tax consequences until the survivor dies. But surviving spouses do not automatically inherit all assets. Couples who desire to structure their estates in such a way that each spouse is the sole beneficiary of the other need to create wills or other estate planning documents to ensure that their wishes are realized. In the absence of a will, state laws governing disposition of an estate take effect. Also, certain types of trusts, such as qualified terminable interest property (QTIP) trusts and marital deduction trusts, are restricted to married couples. Tax Planning Depending on your individual income levels, filing federal income taxes as a married couple may result in higher or lower tax liability as compared with when you each filed singly. Keep in mind that when you are married, you must file as married filing jointly or married filing separately. Only if you are not married may you file as single or head of household. Debt Management In certain circumstances, creditors may be able to attach marital or community property to satisfy the debts of one spouse. Couples wishing to guard against this practice may do so with a prenuptial agreement. Family Matters Marriage may enhance a partner's ability to collect financial support, such as alimony, should the relationship dissolve. Although single people do adopt, many adoption agencies show preference for households that include a marital relationship. The opportunity to go through life with a loving partner may be the greatest benefit of a successful marriage. That said, there are financial and legal benefits that you may want to explore with your partner before tying the knot. 1 If you are age 50 or older, you may make an additional annual contribution of $6, DST Systems Inc. All rights reserved

6 6 Start Today! Three Ways to Boost Your Retirement Savings As Americans, we can take pride in the many things we do well. We work hard. We have excellent hospitals and universities, and we entertain the world with the movies we make. But there's one thing that we could all do better -- and that's saving for the future. Given the uncertainty surrounding the Social Security system, maybe it's time to rethink your own saving habits. Of course, if you are already saving for your retirement through your employer-sponsored savings plan, each contribution you make brings you closer to your retirement goal. But are you saving as much as you can? If you need a reason to get serious about saving more, consider this: Today the average Social Security retirement benefit was just $1,404 a month at the beginning of Given the uncertainty surrounding the Social Security system, maybe it's time to rethink your own saving habits. Here are three quick ideas for giving your retirement plan a boost Apply a raise or bonus to retirement savings. Consider boosting your contribution rate with each increase in pay you receive. Making voluntary increases a habit year in and year out could bring you that much closer to the maximum contribution allowed by your employer. In 2018, workers may contribute up to $18,500 to a 401(k) plan, and workers age 50 and older may add an additional $6,000 in catch-up contributions (subject to plan limits). Cut back household expenses. You may be surprised by how quickly small savings can add up. Things as simple as brown-bagging lunch, switching from brand name to store brand items, and doing away with premium cable channels can make a noticeable difference in your monthly cash flow. Setting up a monthly budget of income and expenses may help you find ways to cut back more. Forgo a tax refund. In 2015, the IRS estimated the average tax refund check to be a little over $3, If you typically get a tax refund, consider revising your W-4 form to reduce your withholding. Your paycheck will grow, which means you may be able to increase the amount you save in your employer's retirement plan. You can probably think of other ways to save, such as paying off credit card debt. It really doesn't matter how you save, the important thing is to build your retirement account in ways that work for you. 1 Social Security Administration, "Fact Sheet Social Security Changes" 2 Internal Revenue Service, "Tax Refunds Reach Almost $125 Billion Mark; IRS.gov Available for Tax Help," IR , Feb. 26, DST Systems Inc. All rights reserved

7 7 Advance Directives: Planning Ahead for Your Own Care Although the thought may not be pleasant, you may someday face a sudden health crisis that leaves you unable to make your own medical decisions. Fortunately, there is a legal means, known as an advance directive, to address this potential concern. In most states, a health care proxy does not take effect until you can no longer make medical decisions for yourself; until then, only you can legally consent to any treatment. An advance directive is a written statement that you complete prior to a serious illness. Generally speaking, this document names someone to act on your behalf or outlines how you want medical decisions to be made when you are no longer able to make decisions for yourself. Some types of advance directives may do more for you than others, so it is important to know the differences. Why a Health Care Proxy? Two common forms of advance directives are a living will and a durable power of attorney for health care, the latter commonly referred to as a health care proxy. A living will explains in writing the care you wish to receive or avoid in the event you are incapacitated. For instance, it can express your wishes for controlling pain, receiving nutrition, or making life-support decisions. But unlike a living will, a health care proxy allows you to legally designate someone, a proxy, to make medical decisions for you. In some states you may even be able to combine a health care proxy and living will into a single document. Hospitals and nursing homes are required to ask about the existence of an advance directive when you are admitted. In most states, a health care proxy does not take effect until you can no longer make medical decisions for yourself; until then, only you can legally consent to any treatment. In addition, you can always change or cancel the document as long as you are mentally alert. If you decide to make changes to these documents, be sure to do so in writing. Know the Potential Drawbacks Though it is a legal document, a health care proxy cannot handle every medical situation. For instance, the advance directive might not be followed by emergency medical services (EMS). If EMS is summoned to treat you, they are usually required to resuscitate and stabilize you until you reach the hospital, regardless of an existing advance directive. An attorney can provide you with additional information about advance directives. Though you cannot anticipate an unexpected health care crisis, you can prepare ahead of time to ensure that you are cared for in a manner that coincides with your intentions DST Systems Inc. All rights reserved. Compliance Tracking # This article was prepared by Standard & Poor's Financial Communications Tracking # Exp. 11/17/2011

8 The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and cannot be invested into directly. Jeffrey & Sherri Kitzberger is a Registered Representative with and Securities are offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Olympus Wealth Partners, Inc., a registered investment advisor and a separate entity from LPL Financial. This newsletter was created using Newsletter OnDemand, powered by Wealth Management Systems Inc.