Meet your Mesirow Wealth Management team
We serve our clients through a personal, individualized approach to reaching financial goals, helping build comprehensive wealth plans and guiding important financial decisions through changing markets.
Interested in bringing your retirement into focus?
Get the guide that will help you determine when your prime time to retirement is.
Download NowAre you ready to make the most of your peak earning years?
If you're at the stage of life where you're trying to accumulate and grow your wealth, how can you be sure you're making the most of these two advantages?
Download BrochureAre you prepared to leave your legacy?
Our guide “Blaze your trail: Ensure your legacy by mapping out a thoughtful wealth transfer strategy” is designed to help you begin that journey and to give you a roadmap to making a legacy plan a reality.
Download NowPlanning ahead
Roth 529 Conversion
Money left over in 529s can always be transferred to another family member’s 529, or it could be withdrawn from the account — which would incur a 10% penalty on investment earnings plus you would have to pay taxes on the earnings as well. Beginning in 2024, there is a new alternative — as part of the Secure 2.0 Act, leftover funds in a 529 account can be converted to a Roth IRA with no penalties or taxes.
IRA Tax smarts
Your IRA most likely represents a significant portion of your long-term retirement savings, and can also play an important role in annual tax planning. Depending on your situation and goals, you might want to consider whether a Traditional IRA or a Roth IRA makes the most sense, whether your required minimum distributions can be given to charity, or whether you should accelerate your IRA distributions.
Taxes and charitable giving
With the change in tax code a few years ago, many affluent individuals and families who used to itemize now qualify for the standard deduction instead, which can impact the deductibility of charitable gifts. Throughout our history, Mesirow has had a strong philanthropic culture, so charitable giving is a wealth planning area in which we are very experienced and eager to help provide some new ideas. This article outlines how you can integrate charitable giving into their financial plan and still enjoy some of the tax benefits long associated with gifting.
Additional resources
Legacy Checklist
When a loved one passes, what happens next? This checklist was created to provide you with a series of tasks and suggested timelines to keep you organized. If you are interested in receiving a copy, contact us today to request a copy.
Mesirow does not provide legal or tax advice. Past performance is not indicative of future results. The views expressed above are as of the date given, may change as market or other conditions change, and may differ from views express by other Mesirow associates. This is not a solicitation to buy or sell the securities mentioned. Do not use this information as the sole basis for investment decisions, it is not intended as advice designed to meet the particular needs of an individual investor. Information herein has been obtained from sources which Mesirow believes to be reliable, we do not guarantee its accuracy and such information may be incomplete and/or condensed. All opinions and estimates included herein are subject to change without notice. This communication may contain privileged and/or confidential information. It is intended solely for the use of the addressee. If you are not the intended recipient, you are strictly prohibited from disclosing, copying, distributing or using any of the information. If you receive this communication in error, please contact the sender immediately and destroy the material in its entirety, whether electronic or hard copy. This material is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.
Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates. The Mesirow name and logo are registered service marks of Mesirow Financial Holdings, Inc. ©2024, Mesirow Financial Holdings, Inc. All rights reserved. Any opinions expressed are subject to change without notice. Past performance is not indicative of future results. Advisory Fees are described in Mesirow Financial Investment Management, Inc.’s Form ADV Part 2A. Advisory services offered through Mesirow Financial Investment Management, Inc. an SEC registered investment advisor. Securities offered by Mesirow Financial, Inc. member FINRA and SIPC.