At Gates Pass Advisors, we spend a lot of time not just managing portfolios but understanding the people behind them. Every year brings a new mix of hope, opportunity, and uncertainty. And 2025 has been no exception.
While markets fluctuate and headlines change, the underlying driver of fear is often the same: uncertainty. Here are some of the top concerns that “spooked” our clients this year, and how we’ve been helping them stay steady through the noise.
1. Tariffs and Economic Policy Changes 1
Trade tensions and new tariffs made headlines again this year, particularly as U.S. policymakers revisited tariffs on imported goods from China and the European Union. These measures affected industries ranging from technology to agriculture and contributed to consumer price fluctuations.
Our response: maintain diversified portfolios, use scenario-based forecasting, and manage exposures through tax-efficient rebalancing. Policy shifts may cause short-term turbulence, but disciplined, long-term planning remains the most reliable hedge against volatility.
2. Fear of Losing Social Security Benefits
A recent Congressional Budget Office report 2 projected that the Social Security trust funds could be depleted by 2033 if no reforms are enacted 3. This has created understandable anxiety among pre-retirees who rely on those benefits as part of their income stream.
At Gates Pass Advisors, we model retirement outcomes both with and without projected Social Security benefits. Therefore, our clients understand how alternative income sources, such as investment accounts, annuities, or part-time income, can sustain their retirement lifestyle.
3. Taxes and the Pain of Reducing Concentrated Positions
Clients with extensive holdings in a single stock, whether through stock options, restricted stock units, or long-term investment, often hesitate to diversify due to potential capital gains taxes 4. With higher income thresholds and shifting tax brackets under ongoing legislative discussions, this has been an especially emotional challenge.
We’ve helped clients address these concerns with tax-efficient strategies such as donor-advised funds, charitable remainder trusts, and structured sales that spread capital gains over multiple years.
4. Changes in Health Care for Transgender Children
State-level policy 5 shifts regarding health care access for transgender minors have created financial and emotional strain for many families. As of mid-2025, over 25 states have passed or proposed legislation affecting insurance coverage or access to gender-affirming care for minors 6.
Families are seeking clarity on how these changes impact medical costs, relocations, and long-term financial planning. We guide clients to consider flexible spending accounts (FSAs), health savings accounts (HSAs), and updated insurance coverage reviews as part of their broader financial wellness strategy.
5. National Guard in Our Own Cities
From border deployments to responses to civic unrest, several governors have called up the National Guard in recent months 7. For clients living in major metro areas, these events can heighten concerns about safety, property values, and local economies.
Our counsel is consistent: avoid making reactive financial decisions based on short-term social or political developments. The market volatility driven by social tension is typically short-term. Still, your financial plan should be designed for decades, not days, and Gates Pass Advisors will help you prepare the best financial plan for your future.
A Year of Uncertainty, And Opportunity
If there’s one constant in the world of finance, it’s change. The same events that spark fear can also create opportunities for the prepared investor.
At Gates Pass Advisors, we help you cut through the noise, make informed decisions, and focus on what truly matters: your long-term goals, your families, and your peace of mind.
While uncertainty is inevitable, panic is optional.
Ready for an honest conversation about your financial goals? Contact us today to see how personalized, comprehensive financial planning and our investment services can bring clarity and confidence to your future.
Sources:
U.S. Department of Defense, “National Guard Domestic Deployments Report,” September 2025.
U.S. International Trade Commission, “Recent Trends in U.S. Trade Policy,” 2025.
Congressional Budget Office, “The 2025 Long-Term Budget Outlook,” June 2025.
Social Security Admin, “A Summary of the 2025 Annual Trustees Report,” May 2025.
Internal Revenue Service, “Tax Policy and Capital Gains Thresholds for 2025,” IRS.gov.
Kaiser Family Foundation, “State Policies on Gender-Affirming Care for Youth,” July 2025.
American Academy of Pediatrics, “Policy Statement: Access to Gender-Affirming Care for Transgender Youth,” 2024.