Good or bad? With social media, it’s all about how you use it.

Robert Frost was being wry, which as all wry people inevitably learn, can lead to misunderstandings.

In Frost’s poem “Mending Wall,” the narrator encourages his neighbor to reconsider the wisdom of the saying “good fences make good neighbors,” wondering to himself how barriers are supposed to bring us closer. As the two men work side by side, separated by the growing order of stone, the narrator assumes his neighbor would eventually see the absurdity of their effort.

Alas, sincerity is immune to irony, and one legacy of “Mending Wall” may be its elevation of a proverb Frost rejected on principled grounds. Count this as a point for Benjamin Franklin, who published more than 150 years earlier, “Love thy neighbor as yourself, yet don’t pull down your hedges.”

These days, spend some time on social media and it’s probably easy to understand why Franklin’s take endures – maybe it is best if we hang our laundry in the back, eat with our mouths closed and share less online. Then again, Frost might have been onto something, too. In 1914, the year “Mending Wall” was published, the western world – despite an abundance of fences – set itself on fire.

A yearning for connectedness

Over a century after “Mending Wall,” we find ourselves experiencing something which might seem like a paradox to both the introverted Frost and the gregarious Franklin: People are more connected than ever but feel less so. In 2023, U.S. Surgeon General Vice Admiral Vivek Murthy, M.D., released an extensive advisory statement, “Our Epidemic of Loneliness and Isolation.”

In the introduction, he wrote that since first reporting to his post in 2014:

“People began to tell me they felt isolated, invisible, and insignificant. Even when they couldn’t put their finger on the word ‘lonely,’ time and time again, people of all ages and socioeconomic backgrounds, from every corner of the country, would tell me, ‘I have to shoulder all of life’s burdens by myself,’ or ‘if I disappear tomorrow, no one will even notice.’

“It was a lightbulb moment for me: social disconnection was far more common than I had realized.

“In the scientific literature, I found confirmation of what I was hearing. In recent years, about one-in-two adults in America reported experiencing loneliness. And that was before the COVID-19 pandemic cut off so many of us from friends, loved ones, and support systems, exacerbating loneliness and isolation.”

The health effects of loneliness on individuals are profound, he continued, being associated with “a greater risk of cardiovascular disease, dementia, stroke, depression, anxiety and premature death.” The effect on mortality is equivalent to smoking 15 cigarettes a day, and greater than the effect of obesity and physical inactivity.

Connection and community are the promises of social media, but does it deliver? Or is social media just a new kind of wall between neighbors?

The answer is complex, and yet unfolding.

A window to the broader world

In the social media age relationships are, in some ways, much more durable than in the past. Where once careers, family and life events would cause friendships to fail due to entropy or geography, social media has helped us stay connected, even if only loosely at times.

This is good for us.

“We know that having a strong social network is associated with positive mental health and well-being,” said Mesfin Awoke Bekalu, a research scientist at Harvard’s T.H. Chan School of Public Health, in an interview with a Harvard publication. “Routine social media use may compensate for diminishing face-to-face social interactions in people’s busy lives. Social media may provide individuals with a platform that overcomes barriers of distance and time, allowing them to connect and reconnect with others and thereby expand and strengthen their in-person networks and interactions. Indeed, there is some empirical evidence supporting this.”

Other researchers have also found evidence that social media can be beneficial, particularly for individuals facing isolating experiences.

Across the social media landscape, there are pockets of communities helping one another manage the complexities of life. Individuals can make connections with others experiencing medical conditions, PTSD, addiction or grief, or they can find support for new challenges, such as former foster kids struggling with the adult world soon after reaching the age of majority.

Even when the stakes are lower, social media can also support health and fulfilment. Hobbyists now have access to information and inspiration at a scale previously unimaginable. Eighteenth century woodworking? Knitting dog clothes? Costuming? If you can imagine it, you can find it, often supported by an abundance of YouTube auteurs and niche businesses ready to ship superior-quality materials.

Even among youth there is evidence that social media can be beneficial, though public health leaders urge varying degrees of caution, and generally suggest children under 14 be kept away from social media.

In 2023, the U.S. Surgeon General issued an advisory imploring policymakers to take notice of evidence suggesting “a profound risk of harm to the mental health and well-being of children and adolescents,” while encouraging additional research. Around the same time, the American Psychological Association Board of Representatives released a related advisory – its first ever – encouraging a balanced approach to youth social media policy and also encouraging additional research.

The board wrote: “Using social media is not inherently beneficial or harmful to young people. Adolescents’ lives online both reflect and impact their offline lives. In most cases, the effects of social media are dependent on adolescents’ own personal and psychological characteristics and social circumstances.”

In a follow-up, Jacqueline Nesi, a member of the APA panel that published the advisory, told the APA’s magazine, Monitor on Psychology, “It’s important to realize there can be benefits for many teens. Teens (and adults) obviously get something out of social media. We have to take a balanced view if we want to reach teens and help them use these platforms in healthier ways.”

The social potential

Social media content feeds are created by opaque algorithms with deep insight into your life, habits, purchases and beliefs, serving an infinite trough of content and advertising designed to capture your attention, whether through joy, curiosity or rage. Soon enough, one can find oneself in a “filter bubble” of people, ideas and products that align very closely with one’s preconceptions. The only glimpse of other opinions may be from provocateurs effective at gaining attention by antagonizing an already-hostile audience.

For people who are already experiencing stresses in life, social media can amplify them. For people going through tough moments, perusing others’ highlight reels of vacations, grandkids and lavish meals may make them feel even worse.

Getting a benefit to your well-being from social media is partially dependent on the platform, types of use and what users are bringing into the experience (like a history of depression, the U.S. Surgeon General wrote). Other risk factors include income, gender, race and age – women and minorities experience higher levels of directed and undirected sexism and racism on social media. It’s hard to opt out of content you don’t want to see in social media’s strange mix: Here’s a post about a cat followed by a news story about a tragedy, then a photo of your college roommate’s dinner, then a diatribe against your beliefs and then another picture of a cat …

Compared to more moderate use, heavy social media use of two or more hours a day is associated with “double the odds of reporting increased perceptions of social isolation compared to those who used social media for less than 30 minutes per day.”

If two hours seems like a lot, several studies suggest it is actually below the daily average for a typical social media user, particularly among youth.

It’s easy to say one should just avoid social media, but that’s becoming increasingly unrealistic. It’s often the only place to find information about local events, restaurants and community bulletins. It’s also prolific; between 80% and 90% of adults of all ages use at least one social media platform, with a smaller number – but still a majority – of adults age 65+ participating. Social media is with us, whether we’re particularly keen on it or not.

More social, less media

Moderation and intent are keys to helping you get more out of social media. Checking social media can be part of a healthy daily routine but using it as a time filler or to stave off a moment of boredom can end up distracting you from life’s real experiences.

For a better social media experience, it may be best to embrace the social, and be cautious with the media. Bring conversations with a group of friends out of the public space of posts and comments and use a group chat, instead – plus there’s no risk of your granddaughter coming across something meant for your peers. Respond and connect with friends – seek to participate, not just consume content – but avoid arguing with strangers. Also be aware that images, news articles and even comments may be produced by AI systems designed to sell you things or elicit an emotional response. If you see something on your feed that seems too good or too bad, it may be true, or it may be the work of an unknown actor trying to manipulate your feelings.

A common complaint on social media is that friends’ updates are not appearing while viral content is pushed to the top. When the platform allows you to change this presentation (in Facebook, the setting to change can be found on the “Feeds” tab), you can limit your feed to just your friends and groups you follow.

A yearning for community

Maintaining social wellness gets harder as we get older. Social media can be a good tool to combat that, but we know it doesn’t replace old-fashioned, one-on-one visits and phone calls. In his advisory on loneliness, the U.S. Surgeon General recommends people take more notice of their social needs and invest time into nurturing relationships. When you do get together with someone, it’s a good habit to keep the phone in one’s pocket or purse and prioritize the here and now.

Other healthy aging habits support social wellness like fitness classes, volunteering and creativity. Social media can be a good tool for finding those opportunities. And if you’re feeling lonely, bring it up with your healthcare provider or faith leader – subtle physiological issues can cause people to withdraw.

And paraphrasing the Surgeon General, nobody wants to become crotchety, but life’s tough, and becoming a grump is a slippery slope. We have to guard against it and work to be the kind of person we would want to share a moment with. It may not surprise you that Robert Frost, wandering around his cold New England landscapes pondering the big questions, could be notoriously crotchety.

Incidentally, Frost wrote “Mending Wall” during a stint living in Old England while feeling homesick for his pointless stone wall, his unwise neighbor and the missed opportunity to mend that wall alongside him in the spring.

Sources: Harvard University; U.S. Surgeon General; National Institutes of Health; Boston College; American Psychological Association; Mayo Clinic; Defense Advanced Projects Research Agency; University of Maryland; New Hampshire Division of Parks and Recreation.

Highlighting key provisions for itemizers, non-itemizers and corporations.

At nearly 900 pages, US legislation known as the One Big Beautiful Bill Act introduced numerous tax law provisions. With so much to decipher, it would be understandable if you skipped over the changes related to charitable giving since they don’t go into effect until 2026.

The coming changes, however, have strategic implications for 2025.

Notably, you may want to maximize the deduction benefits of current tax law ahead of new floors and caps that will be introduced for itemizers in 2026. Non-itemizers may want to do the same, if possible, though for some it could be more strategic to let the calendar flip.

Considerations:

• Accelerating plans for giving to 2025
• Bunching multiple years of giving into a single year
• Using a donor advised fund for increased flexibility
• Deferring qualified cash donations to 2026 (for non-itemizers)

Key provisions for itemizers

Beginning in 2026, itemized charitable deductions will apply only to contributions that exceed 0.5% of your adjusted gross income (AGI). For example, if your AGI is $350,000, only donations above $1,750 will be deductible. For high earners, charitable deductions will be capped at 35% of the donation amount, down from the current top marginal rate of 37%.

The tax law that remains in effect for 2025 has no AGI-related floor and maintains the slightly higher allowance for the 37% marginal tax rate.

This is where itemizers may want to consider accelerating their planned giving in 2025 or utilizing a donor advised fund (DAF), which is a charitable investment account that allows for a same-year tax deduction for contributions of cash, stocks or other assets while allowing you to recommend grants to charities over time. Once funds are in a DAF, they cannot be withdrawn for other purposes, but for those committed to giving, a DAF offers strategic flexibility.

A DAF accommodates what is referred to as a bunching strategy, which combines the donations of two or more years into a single year. The tax benefit comes in the year the lump sum contribution is made into the DAF. And with the flexibility of a DAF, gifts or donations can be made to eligible charities into the future on a cadence of your choosing.

Also, assets in a DAF can be invested, potentially increasing the value and, therefore, power of your original contribution.

Key provisions for non-itemizers

The new law will reintroduce and increase an above-the-line deduction for qualified charitable contributions, making a deduction available to taxpayers who do not itemize. Starting in 2026, individuals can deduct up to $1,000, and joint filers can deduct $2,000. Once it takes effect, this provision does not expire.

Donations made in 2025, however, remain subject to existing tax law and cannot be deducted by non-itemizers.

It’s worth noting that even once the new deduction goes into effect, gifts to DAFs and private foundations will not be eligible for deductions by non-itemizers. So, for a non- itemizer who plans to open or contribute to a DAF or a private non-operating foundation in 2026 and beyond, it could be strategic to accelerate your giving to 2025 if the total of your eligible deductions would enable you to itemize on your 2025 tax return.

If your total deductions remain below the itemizing threshold for 2025, and you are not contributing to a DAF or private foundation, a donation made on December 31, 2025, would not be deductible. A donation made on January 1, 2026, would potentially qualify for the above-the-line deduction.

Key provisions for corporations

Starting in 2026, corporate entities will be able to deduct only charitable contributions that exceed 1% of taxable income, though an overall cap of 10% remains.

Similar to the new provisions for individuals who itemize, businesses that give back to their communities through donations or would like to implement a planned giving strategy may want to accelerate their giving to 2025 or consider using a DAF to maximize tax efficiency and giving power.

For example, if a company typically donates 3% of its taxable income each year, the first 1% of that donation will no longer be deductible starting in 2026. Bunching two or even three years’ worth of donations into a single year would allow the business to deduct all but 1% of the total donation.

A single-year donation just below the 10% cap could prove to be most tax efficient in the long term. Making grants from the DAF to a company’s chosen causes can be done into the future, either on a planned cadence or as need arises.

What about donations from IRAs?

The new law does not alter the rules for qualified charitable distributions from IRAs. In 2025, if you are 70 1/2 or older, you can donate up to $108,000 annually directly from your IRA to a qualified charity without it counting as taxable income.

With so much to consider, a team of experienced professionals can help you maximize your gifting power and your tax efficiency in 2025 and beyond.

Changes in tax laws or regulations may occur at any time and could substantially impact your situation. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors we are not qualified to render advice on tax or legal matters. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.

Donors are urged to consult their attorneys, accountants or tax advisors with respect to questions relating to the deductibility of various types of contributions to a Donor-Advised Fund for federal and state tax purposes.

Learn about a few simple things you can do to protect your personal information while you travel.

Travel can be one of life’s great pleasures, especially when you’re enjoying retirement. Exploring new-to-you countries or revisiting favorite spots is fulfilling, whether traveling by yourself or with family or friends. Regardless of who you travel with, there can be the risk of an unwanted guest – in the form of threats to your personal information.

In the age of smartphones and abundant Wi-Fi hotspots, it’s important to remember that your information travels with you. That’s why ensuring your devices, as well as your credit and debit cards, are secure when you travel abroad is vital. Fortunately, there are precautions you can take to help minimize the threat of your sensitive data being compromised.

Be mindful of your device settings

When traveling, consider disabling certain settings on your devices, like Bluetooth and your laptop’s webcam. Use Wi-Fi only through a trusted source rather than a public or unknown source, and make sure your device doesn’t try to automatically connect to networks when you aren’t using it.

Think about using a virtual private network (VPN) while traveling. A VPN helps to keep your personal information, browsing history and location private so you can use your devices more securely on the road. There are numerous providers available for purchasing VPN services, so you can explore the features that will work best for your circumstances.

Limit your account access while traveling

It’s also important to be mindful of the websites you’re accessing while traveling. Even when using a VPN, try to avoid accessing web accounts that contain any sensitive information, such as your financial, personal or health information. If you do need to access any such accounts, consider changing your passwords when you arrive home as an added security measure.

Keep in mind that any devices you might use that are not your own are especially unlikely to be secure. Public computers, such as those in a hotel common workspace or an internet café, pose an additional risk to your information. Looking up museum hours or directions to your dinner reservations is one thing, but it’s best not to use any sort of public computer for anything you need to supply a password to access.

Think about what you’re taking with you

Consider which of your electronic devices you’re taking with you while you travel, and which you may be able to leave at home. For example, leave your laptop at home if you can, especially if you’re traveling for pleasure rather than business. Likewise with your credit cards and any important documents – take only what you need, and make sure you’re carrying them securely.

Be prepared to verify purchases if needed

It’s always a good idea to make sure your financial institution knows that you’ll be traveling so your purchases aren’t flagged as fraudulent. You may still be notified about suspicious charges, however, as stolen or counterfeit cards are always a risk.

Check with your credit card company before you travel to learn the process for approving any charges the company may flag as fraudulent, so you know what to expect. Debit cards also often have daily limits on ATM withdrawals and point of sale purchases. Certain transactions at high-risk merchants or some transactions identified as potentially fraudulent may also require additional verification from the merchant. It’s good to be aware of all of this before your trip.

Next steps

Here are a few more tips for traveling securely:

• Use ATMs inside banks whenever possible and avoid standalone ATMs.
• Pay attention to the card reader. If it is loose or appears to be tampered with, do not use that ATM.
• If you lose a card, report the loss to your financial institution immediately.

Understand the differences between giving vehicles.

If giving is in your heart, charitable planning vehicles have likely been a topic of conversation with your advisor. There are a variety of options and each has its own benefits, from tax advantages to grant control.

By using these planned giving vehicles, you can maximize your impact to charitable causes and see your generosity going further. Consider these common charitable giving vehicles as part of your financial plan.

Private Foundation

A private foundation might be the most recognized charitable giving vehicle among wealthy donors. To have your own private foundation is often looked at as a sign of success.

They can be funded with assets like cash, private equity, publicly traded securities, tangible assets, real estate and intangible personal property. All foundations are required to distribute at least 5% of their assets to charities or qualifying individuals each year.

Private foundations can engage in philanthropic activities that are not available through other giving vehicles, including distributing donations to individuals, for example. Donors have complete control over granting (as long as is it charitable in nature) and investment decisions.

A foundation can exist in perpetuity, creating an enduring family legacy, and the collaborative board structure encourages family engagement. Invite your family members to become board members or vote on where charitable funds are distributed. Depending on the level of involvement your family members want, you may be able to hire one of them to manage the foundation.

Alternatively, you can hire a professional operating partner to look over the administrative tasks associated with the foundation, as such tasks can become complex. Private foundations are a great possible solution for those who want to run their own charity, employ staff, and have greater flexibility on grant-making.

Donor Advised Fund (DAF)

A DAF is like having a designated bank account for charitable giving. You can contribute to the DAF as often as you like, with cash, securities or even other illiquid assets. You receive a tax deduction upon funding the account for the full fair market value, but don’t have to distribute the contributions until a later date.

DAFs are a popular choice because they offer great tax benefits and flexibility. The tax deduction for contributing cash can be up to 60% of adjusted gross income and 30% for long-term appreciated assets. (That compares to 30% and 20% respectively, for a private foundation.) And you can involve your family in charitable giving through a DAF by requesting grant nominations from family members – like a private foundation, but without the formalities of board meetings and minutes.

There are no mandatory annual distributions, and you can even remain anonymous. DAFs also have less of an administrative burden than that of a private foundation; however, you are limited to disbursing funds to only qualifying charitable entities. If you want a simple solution with low costs and the potential to grow tax-free, a DAF might appeal.

Charitable Remainder Trust (CRT)

A CRT is an ideal option if you’re interested in earning income over a period or for life while also contributing to a charity (or charities) of your choice. This irrevocable trust provides you or your beneficiaries with regular income. At the time of your death, the remaining assets are given to the designated charity.

You contribute assets to the trust and obtain a current-year personal income tax deduction, based on the estimated value set to go to charity. In the case of a charitable remainder annuity trust (CRAT), you’ll get a fixed annuity amount every year for the term; for a charitable remainder unitrust (CRUT), the annual distribution is a percentage of the trust, typically between 5% and 50%.

In most cases, a donor advised fund can be named as the charitable beneficiary as well. A scenario that might lend itself well to a CRT is when you want a trust that can generate income for heirs or charities.

Charitable Lead Trust (CLT)

A CLT is an irrevocable trust that lets you donate money to charitable organizations for a specific period before giving the remaining assets to your family or other beneficiaries – essentially the reverse of a CRT. It’s an efficient way to transfer assets and can help reduce your taxes while making a positive impact through charitable giving.

You donate assets to the trust, choose one or more charitable organizations and distribute regular donations to them from the trust. The assets that remain in the CLT upon its termination go to your family, free of estate and gift taxes. Similar to a CRT, a CLT can benefit investors who wish to generate income for a cause.

Incorporating charitable giving in your planning is a noble effort and one that allows you to leave a legacy of generosity and goodwill with your wealth. Speak to your advisor about your philanthropic goals so you can determine which charitable giving vehicle is best matched to help you achieve them.

Sources: foundationsource.com

Donors are urged to consult their attorneys, accountants or tax advisors with respect to

questions relating to the deductibility of various types of contributions to a Donor-Advised Fund for federal and state tax purposes.

Raymond James Trust, N.A. is a subsidiary of Raymond James Financial, Inc. Raymond James & Associates, Inc. and Raymond James Financial Services, Inc. are affiliated with Raymond James Trust.

Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.

Please be aware that there may be substantial fees, charges and costs associated with establishing a charitable remainder trust.

Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment.