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Notes from McLaren

Planning for Retirement Assets: Beneficiary Designations and Inherited IRAs Thumbnail

Planning for Retirement Assets: Beneficiary Designations and Inherited IRAs

A good estate plan covers most of what you need for legacy planning, but far too many retirees turn a blind eye to how the plan provides for retirement assets. And here’s the kicker – your estate plan, no matter how good, doesn’t govern the transfer of your retirement accounts – including any IRA, 401(k), 403(b), or 457(b). Retirement plans require account owners to execute “beneficiary designation forms” and then transfer assets directly to whoever is listed on the form – regardless of what you write in your will or trust.

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Buying a New Home in your 50's and 60's Thumbnail

Buying a New Home in your 50's and 60's

Homes are often the most expensive purchases in a person’s life, and a second home – bought just at a time when earnings may be peaking and the sense of wealth is highest – can feel more attainable at an even higher cost. A second opinion to hold against the psychological inertia in this situation is extremely valuable, and can significantly impact retirement options.

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Planning for Retirement Assets:  Withdrawal Rules for the IRA, 401(k), and 403(b) Thumbnail

Planning for Retirement Assets: Withdrawal Rules for the IRA, 401(k), and 403(b)

Pensions are quickly becoming a thing of the past, and Social Security won’t cover the bills for most retirees. Most of us are relying more and more on investment savings - often held within retirement accounts - to fund the golden years. It is not uncommon for investors to have six and seven-figure nest eggs within these accounts, making it more important than ever to properly manage the assets and plan appropriately for the future.

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What to do with Sudden Wealth Thumbnail

What to do with Sudden Wealth

Our team works with a lot of investors that realize sudden wealth. This can take shape in many forms – inheritance, sale of a private business, appreciated equity compensation or private stock, or even a new professional career. New wealth provides new opportunities - but it also raises a lot of questions. Here is what we think about when advising clients receiving a substantial cash payment for the sale of private company stock.

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