Connections, March 2019

Mesirow Wealth Advisors understands the challenges and pressures that individuals face when trying to manage their personal wealth, throughout the many stages and events of a lifetime. Our wealth advisors and wealth specialists have written these timely, relevant insights with you in mind. We hope you enjoy this edition.

Estate Planning is for Everyone

In recent news there has been a lot of discussion about estate planning or lack thereof. The passing of Aretha Franklin and Prince (who both passed away without estate plans) and more recently Burt Reynolds (who had a comprehensive estate plan) highlight the importance of planning for the future. There is a common misconception that not everyone needs an estate plan. Estate planning is for everyone. Read more.

Manage Your Insurance Just Like Any Other Asset

Our clients often share with us that the number one thing they value about our relationship is that as their needs and objectives change over time, we help them navigate through those changes and update their strategy accordingly. One of the most commonly overlooked assets are insurance policies. Since insurance plays a critical role in a financial plan, we thought we’d share some insights with you. Read more. 

Think You Can't Own a Roth IRA? Think Again.

We have received so many questions about this topic, we thought we would share this article again with our readers. 

Many high earners often assume they are ineligible for a Roth IRA. This is not necessarily true. Even though you might not be eligible to contribute directly to a Roth IRA, you might be able to convert a traditional pre-tax IRA into a Roth IRA.This strategy was recently validated by the Tax Cuts and Jobs Act (TCJA). Read more. 

Caring for Others - Will It Impact Your Retirement?

There has been a recent increase in the awareness of the “Sandwich Generation,” where individuals provide for both their children and aging relatives. Nearly half of Baby Boomers have the responsibility of saving for retirement, raising children and caring for an older adult. Read more.