Asset Management Financial Planning Retirement Planning Roth IRA Secure Act Traditional IRA Updated for 2020

Converting a Traditional IRA to a Roth Before or During Retirement

It doesn't always make sense to convert a traditional IRA to a Roth IRA. Your current and projected tax rate is often a main component of the decision, but there are other issues at play. Converting a traditional IRA to a Roth doesn't make sense unless you have cash to…

Kristin McKennaMay 27, 2020

401(k) Plans Financial Planning IRA Rollover Retirement Planning Roth IRA Secure Act Updated for 2020

Rolling Over a 401(k) to a Roth IRA: Should You Convert to a Roth?

What are your 401(k) rollover options? You may consider converting your 401(k) to a Roth IRA. No matter what you call it (transfer, roll over, convert, or just moving it), converting your old retirement plan to a Roth IRA is worth considering. A Roth IRA offers unique benefits unavailable in other…

Kristin McKennaMay 26, 2020

Retirement Planning Secure Act Tax planning Updated for 2020

3 Strategies to Minimize Taxes on Required Minimum Distributions (RMDs)

Updated following the passing of the Secure Act. Looking for ways to minimize taxes on RMDs? For wealthy retirees, mandatory distributions from retirement accounts can cause taxes to increase sharply. As with all financial planning, to get the best results you'll want to start early. For workers with $1M+ in…

Kristin McKennaMay 20, 2020

Forbes Retirement Planning Secure Act Tax & Estate Planning

You Can Now Take Required Minimum Distributions At 72. But Should You?

This article was written by Darrow advisor Kristin McKenna, CFP® and originally published by Forbes. (more…)

Kristin McKennaFebruary 18, 2020

Forbes Secure Act Tax & Estate Planning Updated for 2020

The End of the Stretch IRA and What it Means for Your Estate Plan

The Secure Act became law on December 20th, 2019, bringing the most significant changes to the retirement system in over a decade. Among the changes is the end of the so-called 'Stretch IRA' which allowed non-spouse beneficiaries of an IRA (or other type of retirement account) to 'stretch' withdrawals over…

Kristin McKennaJanuary 15, 2020

401(k) Plans Business owners Employee benefits Retirement Planning Secure Act SEP IRA Solo 401(k)Updated for 2020

3 Retirement Plans for Small Businesses: How They Compare

What's the best retirement plan for small businesses? Business owners with employees have several options: traditional 401(k) plan, SIMPLE 401(k), SIMPLE IRA, and SEP IRA are the most popular. The best option will depend on factors unique to your business such as budget, employee makeup and funding goals (for yourself,…

Kristin McKennaJanuary 7, 2020

Secure Act

Kristin McKenna On the SECURE Act – Sirius Business Radio Interview

Darrow Wealth advisor Kristin McKenna, CFP® talks to Your Money host Kent Smetters about the SECURE Act on Sirius Business Radio. (more…)

Kristin McKennaJanuary 6, 2020

Current events Inheritance Secure Act Updated for 2020

The Secure Act Means Major Changes to the Retirement System

The Secure Act was signed into law on December 20th, 2019, solidifying the most significant changes to the retirement system in over a decade. Though clarification on some of the finer points of the legislation will be needed from the IRS, there is plenty we already know about the Secure…

Kristin McKennaDecember 21, 2019

Employee benefits Financial Planning Financial Planning for Couples Pension Retirement Planning Secure Act Updated for 2020

Should You Take a Pension or a Lump Sum?

Should You Take a Pension or a Lump Sum? Deciding between a lump sum or receiving pension benefits monthly requires careful planning and consideration. Though your personal situation and circumstance will always be the most important factor in any major financial decision, there are several key considerations to keep in…

Kristin McKennaDecember 15, 2019

Estate Planning Secure Act Trusts Updated for 2020

Should Married Couples Use Joint or Separate Trusts?

Revocable or living trusts play an important role in many estate plans. Married couples utilizing trusts in their estate plan need to consider whether it's best to set up joint or separate living trusts. There are different tradeoffs involved which may make either a joint or separate trust a better…

Kristin McKennaNovember 6, 2019