Tax efficient investing as U

As U.S. Treasury yields hover near 4.3%, tax efficient investing aligns well with dividend reinvestment strategies. Holding qualified dividend stocks such as JPMorgan or Procter & Gamble for more than a year allows investors to leverage lower tax rates, boosting after-tax returns without sacrificing yield. It suggested adjusting down to a 70%/30% or 60%/40% ratio as retirement approaches. Yang agreed, noting that younger individuals can take more risks. Thank you for joining us. I'm BJ Goergen, the head of Morgan Private Advisory and the Global Private Bank. And we're here today to talk and unpack the One Big Beautiful Bill Act. This was an important piece of legislation for many of our clients. It's very important for high income taxpayers. In biotech, IPO activity rebounded in Q2; tax efficient investing guides suggest keeping high-risk, high-reward allocations inside tax-deferred accounts to manage potential spike in short-term gains if stocks surge post-listing.