Wealth Knowledge Center
Resources designed for you
Our clients often share that one of the most valuable aspects of their relationship with us is our understanding that their lives—and wealth planning needs—are dynamic. As your needs and objectives change over time, we’re here with facts, updates and personalized guidance.
Our Wealth Advisors have written the articles below to help you gain insights into a variety of financial planning topics.
Maintaining your wealth and living your best retirement
Preserving your wealth requires careful financial planning not only before but also within retirement.
Transitioning from work to a life of leisure is part of the American dream, but the reality of lifestyle in retirement can be shocking without proper planning. Developing a retirement identity includes everything from your social network to everyday lifestyle and your financial efficacy.
Maximize your Social Security paycheck
In order to determine how to maximize Social Security, it is important to know which types of benefits are available, and then to identify when is the best time to begin receiving these benefits will be based on your individual situation.
Read moreThe ABCD’s of Medicare
Medicare can be a complex program to navigate with several considerations depending on your unique situation. Understanding the program's basic structure is important when creating a financial plan in retirement.
Read moreProtecting against creditors
Most investors understand the benefits of using retirement accounts to build long-term wealth. What is less known is that they can also provide creditor protection in the event of a legal liability, personal injury lawsuit, or bankruptcy.
Read morePlanning for required distributions
Knowing what tax-advantaged investment accounts are is crucial for the management of our clients’ wealth. These vehicles shelter ongoing investment growth from taxes, and may provide a tax benefit for contributions or withdrawals.
Read moreHow couples can prepare for retirement
Planning for retirement as a couple can have several benefits including confirming common goals, creating accountability to achieve a greater probability of success, and building retirement confidence.
Read moreWhy Gen Z is optimistic about retirement
The ups and downs of the economy may cause people to give up hope. However, recent studies show that Generation Z is the most optimistic about retirement — even with a global pandemic in the equation.
Read moreInterested in bringing your retirement into focus?
Get the guide that will help you determine when your prime time to retirement is.
Read moreTransitioning from career to retirement
Now more than ever individuals are considering transition from their primary careers into a retirement period that may be much longer, and different, than those experienced by prior generations. If you are thinking about making a career transition to retirement, following are a few steps you should consider:
Read moreIs early retirement right for you?
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.
Read morePost pandemic retirement decisions
Unanticipated events like the global pandemic often inspire thought and reflection that can lead to lifestyle and behavioral changes. This article explores how the pandemic has changed when people decide to retire.
Read moreWhat to do in retirement
Given increased longevity and improvements in health, today’s retirees have a greater number of lifestyle options that may be difficult to choose from. This post helps you to think them through.
Read moreThe role of planning in retirement satisfaction
Life in retirement may exceed the life of your career. Having 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 significantly more satisfied in retirement.
Read moreEntrepreneurship is a retirement lifestyle choice
Retirement used to mean the end of an era, and was solidified by a person’s complete exit from the workplace, not any more. Learn how entrepreneurship can be a retirement lifestyle choice for you.
Read moreNine questions retirees should ask themselves
Our doctors’ visits and daily exercises focus on our physical and mental well-being — yet, is there something else required in order for us to have a positive health experience in retirement? Yes. Financial wellness.
Read moreDeriving the benefits of doing good
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.
Options to donate with intention
Two strategies often used by individuals and families are donor-advised funds (DAFs) and private foundations; each has unique costs and tax advantages.
Read morePhilanthropy bridges generations
Every generation is shaping the philanthropic landscape in their own way, making a difference in the lives of others. They are also influencing each other’s views on philanthropy.
Read moreA savvy approach to giving back
In preparation for tax time, many of our clients look for opportunities to maximize their charitable contributions, especially in a “windfall” year. One way to do so is with a Donor Advised Fund.
Read moreTaxes and charitable giving
How you can integrate charitable giving into your financial plan and still enjoy some of the tax benefits associated with gifting.
Read moreFinancial planning for college education
Planning for education expenses can seem daunting, but with help from Mesirow's Wealth Advisors, it doesn't need to be. We work with individuals and families to help create comprehensive financial plans, across generations, that help prepare for pivotal life events like college. A 529 college savings plan is one example of a potential solution to help accumulate and invest for future educational needs.
It’s time to consider a 529 conversion
529 accounts are great vehicles to use to save for college. The money grows tax-free, and there is no tax on distributions as long as it is used for qualifying education expenses.
Read moreSaving for college: with a 529 Plan
Active early planning and some creativity can help position your family to be financially well-prepared to send the next generation off to college.
Read moreYour guide to 529 Plan withdrawals
Each fall, many of our clients’ children and grandchildren begin their college experience. Now is a good time to review how to spend those 529 College Savings Plan assets.
Read moreCollege checklist: Five tips for parents
Sending your young adult off to college or university can be both scary and exciting. These tips may help you help your child navigate some important financial planning and life issues.
Read more529 Plans not just for college anymore
Section 529 College Savings Plans have traditionally been used to save and invest for college education. However, legislative reform has expanded how 529 Plans can be used as an educational funding vehicle.
Read moreLegacy and estate planning begins...
with understanding your overall balance sheet, the importance of titling your assets properly, establishing appropriate beneficiary designations, and the naming of the professionals who will act on your behalf when needed. Getting organized is the first step. Then, it is very important to have a meaningful conversation with family about your legacy.
Start creating an estate plan
The most common misconception is that not everyone needs an estate plan, but estate planning is for everyone. Here are a few tips on how you can get started today.
Read moreHidden pitfalls of Crypto
As cryptocurrency continues to evolve as an emerging asset class, it is important to determine how this uniquely positioned investment interacts with other financial planning considerations.
Read moreHaving “The talk” with family
Having a family conversation about your estate and your legacy can be challenging. But, during times of uncertainly, it becomes more important than ever.
Read moreChanges in estate tax and planning
Even though the current federal estate tax exemption is $12.92 million per individual, planning for potential changes to that exemption is always an important financial planning tip.
Read moreThe importance of a trusted advocate
You often see the terms Agent, Trustee & Executor in legal documents. But, why does it matter who you appoint to each role?
Read moreThe value of a corporate trustee
There are opportunities to create a continuity of wealth advice and guidance from generation to generation while still providing the expertise of a corporate trustee.
Read moreStop, take inventory, check-in
Taking time to reassess your estate plan on a regular basis is an important habit. Now may be a good time to revisit your will, trust, POA, asset titling and beneficiaries.
Read moreLegacy checklist
This checklist is designed to help guide you through a variety of tasks when you lose a loved one
Read moreDocument locator
This form will help you provide you and your heirs with easy access to all of your financial information — all in one place.
Read moreAre you prepared for 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.
Read moreFinancial terminology can sometimes seem like a different language
Mesirow has written a number of articles to help you understand key terms, index information and how economic indicators such as inflation and interest rates impact markets.
Are I Bonds a solid investment choice?
While inflation remains relatively high, it is prudent to challenge if I-Bonds are still an appropriate savings vehicle going forward.
Read moreInvest it all today or average in?
One way to mitigate short-term volatility is to dollar cost average into the market. Learn how in this article.
Read moreInflation, interest rates and you
Inflation and interest rates are key economic indicators that can impact your pocketbook and financial markets.
Read moreHow to gauge performance using benchmarks
Using the most appropriate index as a benchmark is key to evaluating how your investment portfolio is performing.
Read moreThe power of compound interest
The power of “compound interest” is a concept that has been around for a long time, and its benefits can be applied to a number of strategies designed to help accumulate wealth over time.
Read moreHow stock splits impact your holdings
Stock splits can often be a confusing concept for investors. What does it mean when a company announces a stock split?
Read moreSeries I Savings Bonds
Higher interest rates have triggered an increase in investor interest in savings vehicles such as Series I Savings Bonds ("I Bonds").
Read moreFive essential financial terms
Financial terminology can sometimes seem like a different language. Learn about five essential finance terms that we believe everyone should know.
Read moreWhy interest rates matter
If you have recently applied for a loan, you may have noticed that sometimes the interest rate being charged can be relatively high, and sometimes it is much lower. Why?
Read moreKey life events often trigger the need for advice
Your financial plan and investments may be going along just fine, and then something important happens in your life and the plan needs to change in order to stay on track.
Divorce
As with any significant life change, a divorce can be an emotional and stressful period with financial ramifications. Learn how to be prepared.
Read moreBirth of a child
Having a baby is one of the most exhilarating and awe-inspiring moments in most people’s lives, but comes with financial complexities that can be dealt with by planning ahead.
Read moreWedding planning
When planning a wedding, often both partners have begun to save, invest, and accumulate assets. Premarital financial planning has therefore become extremely important.
Read moreNew job
On the first day of your new job, you are handed a very large packet of paperwork and asked to choose your employee benefits. Where do you start?
Read morePlanning for special needs
When families have dependents who may be considered to have special needs, planning for a secure financial future for this dependent can become extremely complex and often daunting.
Read moreHealth care planning
As we get older, it becomes increasingly important to ensure that our health care needs and desires are well documented and understood by our family, friends, medical providers, and professional advisors.
Read moreCaregiving for a loved one
While becoming a caregiver may be unexpected, there are some advance steps you can take so you won’t be caught completely off guard.
Read moreThe need for long term care
Seventy percent of people turning age 65 will need some type of severe long-term services and support in their lifetime. The goal is to be prepared so, if you turn out to be one of them, it doesn’t derail your overall financial plan.
Read moreTaking care of a parent
They call it the “sandwich generation,” when we balance caring for our parents, or grandparents, at the same time as we care for our children.
Read moreCaring for others and your finances
They call it the “sandwich generation,” when we balance caring for our parents, or grandparents, at the same time as we care for our children.
Read moreMeeting your financial goals
Staying on track with your goals to attain your financial objectives is critical. Planning and preparation are key to creating a well-thought-out financial plan that can address your concerns and help set you and your family on a trajectory to meet short-term and long-term goals.
2023 planning guide
This guide highlights 2023 retirement plan contribution rates, tax rates, Medicare and more.
Access the guideFinding the right advisor
Individuals and families have different wealth planning and investment needs. Finding a financial advisor that is the “right fit” for your unique situation can require a degree of patience and due diligence.
Read moreA lifetime of planning advice
Although the history books have not yet been written, the past few years have impacted financial priorities. It may be the time to take a moment to review where you are, where you are going and what it will take to get there.
Read morePlanning tips for young professionals
Whether a young professional have been in the workforce for the last three years or a recent graduate, here are some quick financial planning tips to jumpstart his or her wealth accumulation journey.
Read moreThe role of insurance in financial plans
Your financial plan and investment portfolio is likely made up of a variety of different types of assets, which you probably review with your wealth advisor at least annually, if not more often. Insurance policies can play a critical role in your financial plan, but they are often overlooked.
Read morePreparing for a financial windfall
Do you ever dream of receiving a financial windfall? It may seem like a fantasy, but it happens more often than you might think. And, not unlike other financial issues, having a plan will ensure you make the most of your windfall and have no future regrets.
Read moreGetting organized is the first step
Do I have enough to retire? Can I afford to support a family member? These are a few questions that play into your life and financial decisions. Being organized is critical to an advisor’s ability to answer your unique questions appropriately.
Read moreProtect yourself from theft and fraud
We believe that an essential part of your financial wellbeing is the confidence that your financial identity is secure.
Read morePlanning for the LGBTQ community
Everyone has unique circumstances that must be considered when creating a financial plan. Depending on goals, members of the LGBTQ community may have additional factors to consider when it comes to financial planning.
Read moreThe rise of intrafamily loans
An intrafamily loan is a wealth planning strategy that has become increasingly more utilized in the current interest rate environment.
Read moreA few financial resolutions
The beginning of each year brings hope as we consider starting something new or making improvements to our financial wellness.
Read moreExcess liability insurance
Sometimes homeowner insurance isn't enough to cover potential liability claims.
Read moreSeven year-end planning tips
It is important to review your financial plan every year, but based on the events of the past few years, it may be more important than ever. Depending on your situation, we have some tips that might make sense for you and your family.
Read moreLife insurance is an important asset
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 moreAre 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?
Read moreRunning a business isn’t for the faint of heart
It takes time, money and commitment to high quality product and client services. While you are focused on running your business, Mesirow can help provide insights into how financial planning components such as ownership, retirement savings and succession planning play a role to the long-term success of your business.
Managing your 401(k) plan
A 401(k) plan is often a key benefit for attracting and retaining employees, but managing a plan can be challenging for small business owners. Mesirow and a Third Party Administrator (TPA) can help shoulder some of that administrative burden.
Read moreOptimize tax planning
At Mesirow, we work with business owners like you to help maximize retirement savings, minimize taxes, and maintain the flexibility required to productively run your business by implementing custom retirement plan strategies.
Read more3 tips for business owners
Most small business owners’ planning strategies are centered around the success and growth of the business. The three most commonly overlooked planning concepts involve ownership, retirement savings, and succession planning.
Read moreBest practices for selling your business
“Setting a new course: Best practices for selling your business” presents three phases for selling a business which any owner considering selling – now or in the future – will find to be valuable.
Download nowReducing your tax liabilities
A savvy investor and their wealth advisory team can strategically reduce federal tax liabilities without impacting long-term investment plans.
Five key tax changes in 2023
While consumers are feeling this pain in their everyday purchases, the IRS is offering some relief by making adjustments during the 2023 tax year that will lower the tax burden for most Americans.
Read moreWhy invest your HSA assets
If you can afford to cover your family’s health care costs out-of-pocket (without spending your Health Savings Account (“HSA”), consider investing those HSA assets instead.
Read moreIRA Tax Smarts
You might want to consider whether a Traditional IRA or a Roth IRA makes the most sense, whether required minimum distributions can be given to charity, or whether you should accelerate your IRA distributions.
Read moreMarket volatility creates opportunities
Although periods of market volatility can create anxiety, the gains and losses incurred during up and down markets can be leveraged to work together to minimize the taxes investors pay on capital gains.
Read moreAre you eligible for a Roth IRA?
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.
Read moreVolatility creates Roth IRA opportunities
As stocks dip this year, some investors are taking advantage of the market volatility by converting their traditional pre-tax IRAs to a Roth IRA.
Read moreDelay taxes on certain assets
Many of our clients own business assets or personal property that have appreciated in value and struggle with ways to sell these assets without triggering immediate capital gains taxes.
Read moreWealth advisory services offered by Mesirow Financial Investment Management, Inc., an SEC-Registered Investment Advisor. Securities offered through Mesirow Financial, Inc., member FINRA, SIPC. Advisory Fees are described in Mesirow Financial Investment Management Inc.’s Part 2A of the Form ADV. 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.