Wendy Evans is a Vice President and Client Relationship Specialist in Mesirow Wealth Management She is responsible for day-to-day client service and communications including client portfolio analysis trade requests account processing and documentation  Wendy has more than 30 years of experience in the financial services industry Prior to joining Mesirow in 2001 she worked as an Administrator for…

Wenli Tan is a Managing Director in Mesirow Fiduciary Solutions She provides extensive quantitative and qualitative investment research for the groups fiduciary partnership consulting institutional due diligence and other related engagements Wenli has more than 20 years of industry experience Prior to joining Mesirow in 2009 she served as a Mutual Fund Analyst at Morningstar where she conducted…

Over the past two years the Federal Reserve rose interest rates at a rate not seen since the 1980’s leading to some of the worst years for bond investors in history During October 2023 the US Treasury 10-Year yield breached 5% for the first time since 2007 a significant increase from the 06% yield experienced during the height of the pandemic Rising interest rates have a significant impact on a…, Published November 2023

Your life in retirement has the potential to exceed the life of your career Think about that That’s very different than the generations before us Having a plan — both a financial plan and a plan for how you plan to spend the next 30+ years — has never been more important People with a plan are not surprisingly significantly more satisfied in retirement, What does retirement mean for you, Depending on the person retirement is a word that can trigger positive or negative emotions Work as we know it can be complex and include long days travel and conflict It can also feed your soul with opportunities for accomplishment social interaction and financial benefit If you find work to be frustrating and stressful disconnecting from that experience can be a positive Conversely leaving a…, Transitioning to retirement can feel overwhelming without a plan, The transition to retirement has become even more complicated over the past couple of decades with the replacement of pension plans (which provide steady income for life by employee-funded deferred compensation plans (which place the risk of market volatility on the retiree Similarly the reduction in medical benefits and increased healthcare costs have left many retirees wondering how to manage…, 3 keys to achieving retirement satisfaction, Since the beginning of the pandemic a surge in the number of Baby Boomers announcing their intent to exit the workforce before age 67 has occurred (Baby Boomers are individuals who were born between 1946 and 1964 The exit of Boomers has been inspired by increased wealth through asset growth in businesses investments and housing Many individuals view the current environment as an opportunity to…, Planning, Research has shown thinking about retirement and engaging in planning positively impact retirement satisfaction 4  Retirement planning provides an opportunity to test financial readiness and consider potential life changes that can increase expenses Including trusted advisors in the process such as a financial planner or accountant can provide an objective voice and professional expertise as you…, Wealth and companionship, According to research individuals with higher income higher net worth and a spouse or partner are more likely to achieve satisfaction However even when controlling for income net worth and relationship status retirement planning does have a positive impact on life satisfaction in retirement 5  Research also indicates that retirement planning positively impacts satisfaction even in cases where…, Community and purpose, Although financial stability is an important factor in achieving retirement satisfaction research has shown that non-financial factors such as socialization community and individual purpose should also be considered, Considerations for a holistic approach to retirement satisfaction, Evaluate and organize personal resources (such as assets income savings Social Security Anticipate health care costs and resources such as Medicare supplemental insurance and long-term care Plan for the future cost of living and the impact of inflation Think about what creates meaning and purpose for you – What activities will provide you with joy and a sense of accomplishment Create a social…, Published January 2025, [1] http//www100yearlifecom/the-book/ [2 ] https//wwwforbescom/sites/bobcarlson/2019/02/21/the-one-factor-that-determine-if-your-retirement-will-be-a-success/sh=63eb37a46909 [3] https//wwwsciencedirectcom/science/article/abs/pii/S1057081099000360via%3Dihub [4] https//wwwsciencedirectcom/science/article/abs/pii/S1057081099000360via%3Dihub [5] https//wwwsciencedirectcom/science/article/abs/pii/…

Each new season brings the possibility of new adventures and milestones such as engagements children and grandchildren and career opportunities Although such events may be unforeseen at this time one thing that we know is we are continually moving towards the next stage of our lives For many it will be retirement which has the potential to be longer for us than past generations When the Social…, Given increased longevity and improvements in health today’s retirees have a greater number of lifestyle options that may be difficult to choose from Studies have shown that modern day retirees are seeking activities that they find fulfilling such as mentoring or starting a business versus activities that just fill their time during the day Although many look forward to a life of leisure and…, Define who you want to be in retirement, Mindfulness and reflection on the activities you like and dislike are helpful in forming a vision and setting goals to become who and what you want in retirement In our youth we spend time figuring out what career is right for us Similar thoughtfulness should be used as we prepare for increased longevity, Determine if your employer is open to new ideas, Is your employer open to you proposing new ways for you to add value on your terms There are cases where retired teachers have become tutors carpenters have become instructors and executives have taken non-profit assignments sponsored by their companies The opportunity to have the role you desire may have to be proposed by you, Consider volunteer work, If you are seeking volunteer work but are unaware of organizations that share your interests here are a few to consider, United Way of Metropolitan Chicago, You can use the volunteer portal to search for individual volunteer opportunities throughout Chicago neighborhoods, Cradles to Crayons,  (Chicago and , Bernie’s Book Bank,  (Lake Bluff Both of these organizations offer simple turnkey volunteer opportunities sorting and preparing donated goods in warehouse settings, Chicago Cares, This organization matches volunteers with opportunities to serve If you are looking to make a deeper dive via one-on-one mentoring , Chicago Scholars,  and , One Million Degrees,  are excellent options Your retirement can become the new adventure you’ve always dreamed of Its never too soon to start thinking about what your unique experience will be, Published January 2025, 1 http//www100yearlifecom/the-book 2 https//wwwprnewswirecom/news-releases/half-of-mature-us-workers-will-wait-until-at-least-age-70-to-retire-or-wont-retire-at-all-300432256html Some Mesirow employees serve on the non-profit organizations named here 

Having a baby is one of the most exhilarating and awe-inspiring moments in most people’s lives truly a time of profound emotion and personal joy However that joy also comes with additional financial complexities that can be dealt with by planning ahead Below are some planning tips to maintain financial stability for the expecting family  , Health insurance coverage , The most immediate expenses to address are the Medical costs associated with pregnancy Even with existing health care coverage these expenses can add up to quite a large out-of-pocket sum Having a child in 2024 differs by state but ranges between $6000 to over $13000 1   With the addition of regular insurance premiums and co-pays for prenatal check-ups the total cost can be unexpectedly high…, Create a “baby budget” , Once you understand the budget for medical you should begin to look ahead and plan for the one-time and ongoing costs with your baby Getting a grasp on what these expenses look like before your child arrives will help to ease this transition from your existing budget Below are just a few of the important considerations to make Maternity / Paternity Leave Check with your Human Resources department…, Create a Will    , While it isn’t pleasant to think about tragedies can occur to one or even both parents Ensuring that your child is protected in the event of an untimely death starts with having the proper legal documents in place  At the basic level you’ll want to create a will that designates a legal guardian for your child Doing so will guarantee your child will be cared for as per your wishes and avoid…, Life Insurance, Purchasing life insurance can help provide resources for your child in the event of the passing of one or both parents When deciding how much insurance to buy factors to consider include the loss of your income for 18-20 years covering outstanding debts such as a mortgage and the cost of college tuition just to name a few  , Disability Insurance, If an illness or injury prevents you from working for long enough your company may stop paying your income  Obtaining long-term disability coverage either through work benefits or on the open market can help to cover up to 60% of your income in such an occurrence This type of protection is especially important as the increased expenses associated with your child are often essential and cannot be…, Published  January 2025,  1  https//wwwfoxnewscom/lifestyle/how-much-money-costs-have-baby-2024-report  2  https//wwwbankratecom/finance/credit-cards/summer-childcare-survey/  3  https//wwwforbescom/sites/andrewrosen/2023/02/16/the-secure-act-20-and-your-529-plan/sh=6217252b6a8b