At one time or another you may be offered the opportunity to “retire early” — well before your 65th birthday It is important to plan for this contingency in advance, Although retirement is often thought of as a stage that inevitably occurs at the end of a career many individuals do not give it serious consideration until well into their 50’s Based on policy related to programs such as Social Security Medicare and pension funds most Americans target their mid-60’s as the time period when they will enter into retirement Approximately 81% of individuals exit the…, Social Security benefits, and, retirement lifestyle readiness,  , Social Security, Your full retirement age as defined by Social Security depends on your birth year Its crucial to realize that the Social Security payments you qualify for will be reduced if you claim them before your full retirement age Monthly Social Security benefits increase approximately 65% to 80% per year between the ages of 62 and 70 so incorporating this expected income into your retirement financing can…, Retirement lifestyle readiness, Retirement adjustment is reached when individuals are no longer preoccupied with retirement transition but are comfortable with the changed circumstances of life in retirement Individuals transitioning from work to retirement experience meaningful changes in areas of their everyday lives such as having daily structure to account for their time socialization through work friendships a sense of…, The benefits of financial planning, Individuals often do not have a full understanding of their benefits and options in retirement Financial planning allows for the early interpretation of situations so that the negative outcomes resulting from abrupt unwanted or ill-timed transition can be minimized An accurate assessment of potential losses can eliminate anxiety and lead to greater satisfaction in retirement Researchers have…, Early retirement considerations, If early retirement may be an option for you here are a few things you should consider and discuss with your Wealth Advisor, What is your employer’s financial strength,  If early retirement is being offered due to financial strain that may eventually lead to layoffs an early retirement package may be a more attractive option than remaining at a particular company Consideration should be given to the dynamics in your organization industry and community, What are the financial benefits of working longer or exiting,  Staying in the workforce allows your existing assets to compound instead of being exhausted in retirement Early retirement packages often offer financial incentives for employees to exit the workforce Careful evaluation of an early retirement package versus full retirement benefits will provide a clearer understanding of the trade-off value of staying or leaving work and let you know if you are…, How is your pension calculation impacted,  Although defined benefit plans have become less common in recent years some organizations continue to offer them The amount of the annuity payment in these plans is often based on factors such as age income and years of service You should make sure you understand if the early retirement incentives being offered appropriately compensate you for lower monthly annuity payments in retirement, How will you fund healthcare,  Healthcare is one of the largest expenses faced in retirement Some organizations allow retirees to continue to receive benefits in their plan However if this is not an option and you are not yet eligible for Medicare benefits COBRA benefits may be your best solution COBRA allows you to maintain health insurance however the cost is not subsidized by your employer COBRA benefits can cost up to 102…, How will you replace the non-financial benefits of work,  Evaluate how you will structure time build relationships and have psychological successes that will contribute to your positive well-being Often converting hobbies to part-time work volunteering and spending additional time with family and friends can create a blend of activities that provide enjoyment and retirement success, Summary, Understanding the full value of your resources can lead to a more positive experience in all stages of retirement Mesirow Wealth Management has an 87-year history of advising clients through life events including career transition to retirement We can provide guidance as you figure out what the value of career transition will be for you, Published January 2025, 1 https//wwwpewresearchorg/social-trends/2023/12/14/the-growth-of-the-older-workforce/ 2 https//moneyusnewscom/money/retirement/social-security/articles/the-most-popular-ages-to-collect-social-security Feldman D (2013 Feeling like its time to retire A fit perspective on early retirement decision making In M Wang The Oxford Handbook of Retirement (pp 280-292 New York New York Oxford University…

October 30 2023 | By, Mesirow Currency Management,  , With the final round of the presidential election looming and the nation battling triple-digit inflation Argentina’s citizens wonder what to do The libertarian Javier Milei a larger-than-life candidate proposes to save the economy by dollarizing replacing the peso with the US dollar It’s a drastic measure from which there is no turning back Complicating the situation Argentina was invited to join…, Introduction, The recipient of 22 International Monetary Fund bailouts in the last 65 years Argentina is gasping economically once more Rocked by inflation approaching 140 percent (Figure 1 and lacking foreign reserves to support the peso – US dollar exchange rate the Argentinian currency is worth less than three-tenths of one US cent ($000285 at the official rate   Figure 1 Argentina Inflation Rate (% October…, Beneficial outcomes – at first, Most Argentinians routinely use the dollar switching completely to the US currency would relieve the headaches involved in managing two currencies But adopting the US dollar would mean delegating central bank interest rates decisions and ceding control of money creation to the Federal Reserve likely stabilizing the Argentinian economy and providing a credible and reliable monetary basis this is…, It won’t solve all the problems, Once dollarized Argentina could have no hope of changing back to the peso reverting to a dysfunctional currency from the world’s reserve currency would be virtually impossible A nation without a full-fledged central bank would be a country without a lender of last resort when crises erupt In a financial emergency there would be no one to provide short-term liquidity to the government or to save…, Get the fiscal house in order , In Ecuador dollarization did not lead to good fiscal management or the development of reforms to support future economic growth Ecuador’s experience suggests that dollarization can be successful in curtailing an unconstrained money supply but that a balanced budget healthy banking sector wide export base flexible labor and adequate foreign exchange reserves are crucial fiscal elements that…, Unlevel and disjointed BRICS, Another factor for Argentinians to consider concerns BRICS That is a group of major emerging economies – Brazil Russia India China and South Africa – formed to counter the economic power of the US and western allies including the dominant role of the US dollar in global trade At their August 2023 conference BRICS welcomed six new countries for membership in 2024 Argentina Egypt Ethiopia Iran…, Explore more currency insights, The future for hedged share class investors Futures Overlays,     Hedge Share Class Investors Grapple with Shorter (T+1 Security Settlement Cycle LEARN MORE, An armed war and a currency battle,     Russia confronts the US dollar with so-so results LEARN MORE      

You often see the terms Agent Trustee and Executor in various legal documents Each of these appointments allows for someone to care for your financial household in the event you are unable to act and upon your passing But what is the difference between these three roles and why does it matter who you appoint to each role, The role of your agent, Under both your Power of Attorney for Health Care and Power of Attorney for Property you (the creator of the Power of Attorney are the “principal” while the person you appoint to act on your behalf is the “agent” Typically this power to act on your behalf becomes effective upon your incapacity and will terminate upon your death When considering who to appoint to this position it may be advisable…, The role of your trustee, Similarly choosing a trustee is not always a simple task Within the governing instrument of your trust you (the creator of the trust are considered the “grantor” The “trustee” is the person or third party designated to control and carry out the terms of the trust The time at which the trustee will act is dependent on the governing instrument Typically for an individual’s living/revocable trust…, The role of your executor, Under your “Last Will and Testament” you (the creator of the Will are considered the “testator” Under this legal document an “executor” is also named Like a trustee an executor has a legal obligation to carry out the terms of the document in the best interests of the parties involved The task at hand can be overwhelming The named executor acts upon your passing To put it simply the executor…, Published February 2025, Mesirow does not provide legal or tax advice

In June 2024 United States Supreme Court issued a decision which may have a significant impact on closely held businesses with certain buy-sell agreements , What is a buy-sell agreement, When two or more persons own a business a buy-sell agreement serves a critical role in defining what happens to the business if an owner dies becomes permanently disabled retires or otherwise exits the business In most cases the agreement provides that the exiting owner’s interest will be bought out providing them (or their family with cash for the value of the exiting owner’s interest and the…, How does the US supreme court decision affect buy-sell agreements, The case is question is Connelly v United States (US No 23-146 Opinion 6/6/24 This case involved the valuation of a business originally owned by two brothers The owners entered into a “redemption” buy-sell agreement with the business that required the business to purchase the ownership interest of either brother if one of them died The business purchased and owned life insurance on each brother…, What steps should business owners take, If you have a redemption buy-sell agreement in place for your business you should consider reviewing this agreement with your legal advisor to determine whether the Connelly decision impacts you and your business You may also want to consider a more comprehensive review of the structure and funding of your agreement Is it optimally structured for your current business entity If you have funded…,  , Published February 2025

529 accounts are great vehicles to use to save for college  The money grows tax-free and there is no tax on distributions from the account — as long as it is used for qualifying education expenses like tuition books or room and board Additionally many states including Illinois allow for some state tax deductions  , Leftover 529 assets, 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 20 Act leftover funds in a 529 account can be converted to a Roth IRA with no penalties or…, About Roth IRAs, Roth IRAs are very desirable accounts They too grow tax-free and there is no tax on distributions from the accounts Generally it has been hard to accumulate large balances in Roth IRAs because contributions are limited to certain income thresholds and rollovers from Traditional IRAs to Roth IRAs can be costly from a tax perspective  The provision to enable rollovers of leftover funds from a…, Published March 2025,  

Jack Yao is a Managing Director and Head of Asian Distribution in Mesirow Institutional Sales and Trading He oversees fixed income products distribution and business development in Asia  Jack has over 10 years of experience in the banking industry Before joining Mesirow he served as Lead Portfolio Manager at Cathay United Bank in Taiwan He traded rates and managed their UST and US Mortgages…