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2025 Financial Outlook

Montecito Bank & Trust's Jorge Morales, CFP, Shares Expertise

Since 1975, the talented team at Montecito Bank & Trust has been committed to making the communities they serve better places to live and work. Here, Jorge Morales, CFP, Financial Advisor at MB&T, shares his expertise about the best ways to manage your money in the new year and beyond.

What’s new regarding financial planning in 2025?
In 2025, there will likely be updates in tax regulations and retirement account contribution limits, impacting how clients strategize their savings, investments, and estate plans.

What do you foresee as the most important aspect(s) of planning for 2025?
The ultimate focus will be on adapting to inflationary pressures, changes in interest rates, and new tax regulations, ensuring that portfolios remain resilient and diversified.

What is your advice for people just starting to formulate a financial plan?
Begin by setting clear financial goals and establishing a budget to understand your income and expenses; this foundation is crucial for effective planning.

Can you share some advice/guidelines regarding the following for 2025:

  • Saving: Aim to save at least 20% of your income; automate your savings to ensure consistency.

  • Investing: Diversify across asset classes and consider dollar-cost averaging to mitigate market volatility.

  • Debt: Prioritize high-interest debt repayment while maintaining a manageable level of debt for essential needs.

  • Gifts/Charitable donations: Consider tax-advantaged gifting strategies, such as donor-advised funds.

Jorge Morales has 23 years of experience in financial planning, specializing in investment strategies and retirement planning. He holds a CFP designation and is passionate about empowering clients to take control of their financial futures.

The Financial Consultants at MB&T Advisors are Registered Representatives, and Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC).  Insurance products are offered through LPL or its licensed affiliates. Montecito Bank & Trust and MB&T advisors are not registered as broker-dealers or investment advisors. Registered representatives of LPL offer products and services using MB&T Advisors and may also be employees of Montecito Bank & Trust. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Montecito Bank & Trust or MB&T Advisors.  Securities and insurance offered through LPL or its affiliates are: 

Not Insured by FDIC or Any Other Government Agency, Not Bank Guaranteed, No Bank Deposits or Obligations, May Lose Value

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