Following member input, we will be hosting informal, in-person gatherings periodically. Members are invited to join us on April 27, 2026, at 12:30 PM at the second-floor food court near the front of Whole Foods in the Domain (11920 Domain Drive). We will have a roundtable discussion where each attendee will have a chance to share their investing thoughts and ask questions. We can also discuss the content from the April 21 presentation.
Main Event Highlight
When: April 21, 2026 | 7:00 PM – 8:30 PM CT
Chapter: AAII Austin/San Antonio
Register: https://us02web.zoom.us/webinar/register/WN_-g_vg_hmR9i3oUxDi6keaQ
Taxes play a major role in how much of your retirement savings you actually get to spend. In this session, you'll learn how tax maps can help guide decisions around Roth conversions and long-term capital gains harvesting, particularly in light of new tax legislation enacted in July 2025. The discussion will also support your understanding of Chapter 10 of the Retirement Planning Guidebook.
The session begins with a clear overview of how the federal income tax system works, followed by practical examples showing how changes in income can affect:
- Federal taxes on different types of income
- Taxation of Social Security benefits
- Medicare premium surcharges
- How preferential income stacks on ordinary income
- Phase-outs of key deductions, including state and local taxes, age-based deductions, and medical expenses
You will also explore when increasing taxable income-through Roth conversions or gains harvesting-may be beneficial, and when it may create unintended consequences.
By the end of the session, you will have a clearer framework for identifying tax-planning opportunities in retirement.
Speaker Bio
Wade D. Pfau, PhD, CFA, RICP®, is the founder of Retirement Researcher, an educational resource focused on retirement income planning. He is a co-founder of the Retirement Income Style Awareness tool and co-host of the Retire with Style podcast.
He serves as principal and director of retirement research at McLean Asset Management and is a professor of practice at the American College of Financial Services, where he previously directed the RICP® designation program.
He earned his doctorate in economics from Princeton University and has published more than sixty peer-reviewed research articles. His latest book is Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success.
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In This Issue
Other AAII Chapter Events (Some has a fee)
The Age of Disruption & Uncertainty: AI's Rational Bubble, the Iran War, and National Debt
April 11, 2026 | 10:00 AM – 12:00 PM ET
AAII Research Triangle Chapter
Event page: https://aaii-research-triangle.square.site/
Phoenix Chapter April Meeting
April 11, 2026 | 10:00 AM – 5:00 PM MT
AAII Phoenix Chapter
Join: https://us02web.zoom.us/j/86210042755?pwd=JqT3P6XulUI5ue5j4n9b8BkYr4CjbZ.1
AAII Columbus April Saturday Zoom Meeting
April 25, 2026 | 9:00 AM – 11:00 AM ET
AAII Columbus Chapter
Join: https://zoom.us/j/87842254633
Passcode: 553753
Opening the Door to Maximum Gains & Ten Baggers in 2026
April 25, 2026 | 10:45 AM – 12:00 PM PT
AAII Los Angeles Chapter
Event page: https://aaiila.org/april-2026-hotel-angeleno-webinar-notice/
Full calendar: https://community.aaii.com/events/calendar
Curated Investing Content (April Picks)
Market Highlights – What Moved Markets This Month
Federal Reserve Holds Rates and Signals Fewer Near-Term Cuts
Coverage from The Wall Street Journal highlighted that policymakers remain cautious, maintaining current rates while delaying expectations for cuts.
Why it matters: Interest rate expectations continue to drive valuations and sector performance.
AI Investment Continues to Drive Mega-Cap Tech Leadership
Reporting in Barron's emphasized continued growth in capital spending tied to artificial intelligence infrastructure.
Why it matters: A small group of AI-focused companies continues to dominate market returns.
Oil Prices Respond to Ongoing Middle East Developments
Energy markets experienced volatility tied to geopolitical uncertainty affecting supply expectations.
Why it matters: Oil prices influence inflation trends and broader economic stability.
Market Gains Remain Highly Concentrated
A limited number of large-cap stocks accounted for a significant share of index performance.
Why it matters: Concentration increases portfolio risk and underscores the importance of diversification.
Market Movers – Past Month (March 2026)
| Category |
What Moved |
Direction |
Magnitude |
Why |
| 📉 Down |
S&P 500 |
↓ |
~ -5.1% |
Broad selloff, geopolitical tensions |
| 📉 Down |
Nasdaq |
↓ |
~ -4.8% |
Tech weakness, growth concerns |
| 📉 Down |
Dow Jones |
↓ |
~ -5.4% |
Cyclical sectors dragged lower |
| 📉 Down |
Tech (software, growth stocks) |
↓ |
Large declines |
High valuations + rate/inflation fears |
| 📉 Down |
Consumer Discretionary |
↓ |
~ -4% |
Hit by oil prices + weaker sentiment |
| 📉 Down |
Financials |
↓ |
~ -4% |
Economic slowdown concerns |
| 📈 Up |
Energy sector |
↑ |
~ +12% |
Oil surge (geopolitical conflict) |
| 📈 Up |
Utilities |
↑ |
Strong |
Defensive + yield demand |
| 📈 Up |
Materials (chemicals, metals) |
↑ |
Moderate |
Commodity price spikes |
| 📈 Up |
Fertilizer / chemical stocks |
↑ |
+8%+ |
Supply disruptions + agriculture demand |
Member Resources
Chapter archive: https://www.aaiiaustinsanantonio.com/archives
Members are encouraged to share useful articles, videos, and tools that may benefit the broader community.
Volunteer Opportunities
Our chapter thrives thanks to our dedicated volunteers. We are currently seeking:
If you are interested in getting involved or would like more information, please contact:
Closing
Periods like this remind us that investing is as much about discipline as it is about insight.
While market narratives shift and leadership changes, maintaining a consistent approach grounded in long-term thinking can help reduce uncertainty and improve outcomes over time.
By continuing to learn, stay engaged, and share ideas within our community, we strengthen our ability to navigate whatever markets bring next.
We look forward to continuing that journey together.