Brokerage Account Cash Management Debt Management Financial Planning Infographics Investing Updated for 2020

What To Do With Excess Cash: 7 Ways to Use Extra Savings

What should you do with excess cash? If you are holding too much cash, consider how to use the extra money to your benefit. If you have extra cash in the bank, you may be wondering if you should invest the money or pay down debt. Assuming you already have…

Kristin McKennaMay 27, 2020

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 Job Transition 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 Tax & Estate Planning Trusts Updated for 2020

Do I Need a Trust If I Have a Will?

A will and a trust are two different estate planning tools. Consider a will like a high-level set of instructions to be used after you pass away. You generally use a will to name the executor of your estate and guardianship for your children. Although you can leave assets to…

Kristin McKennaMarch 31, 2020

Asset Management Brokerage Account Diversification Investing Tax planning Updated for 2020

Tax-loss Harvesting After a Downturn in the Stock Market

Tax-loss harvesting is the process of selling an investment at a loss to offset other gains or carry the loss forward to future years. It's the ultimate silver lining: using the recent losses in your investment account to your advantage. During widespread selloffs like in March 2020, most equity positions…

Kristin McKennaMarch 30, 2020

Debt Management Forbes Interest rates Mortgages Real Estate Updated for 2020

With Mortgage Rates So Low, Is Now a Good Time to Refinance?

With 30-year fixed mortgage rates currently averaging around 3.50%, it might make sense for homeowners to consider refinancing. Depending on several factors, such as your current interest rate and age of your existing mortgage, refinancing could mean a lower monthly payment and big savings over the life of the loan.…

Kristin McKennaMarch 26, 2020

Forbes Real Estate Updated for 2020

2 Big Myths About Being a Landlord

Real estate is perhaps the most emotionally charged investment there is. Particularly when buying a home, investors are far more inclined to let emotions drive the decision, opposed to the fundamentals of the deal. Putting owner-occupants aside, many individual real estate investors are so bullish about their strategy of using…

Kristin McKennaMarch 17, 2020

Cash Management Current events Debt Management Home buying Interest rates Investing Mortgages Real Estate Updated for 2020

Is Refinancing Your Mortgage Worth It? Here’s How Much You Could Save

Mortgage rates are currently very low - the average 30-year mortgage is now 3.50%. It might make sense for homeowners to consider refinancing. How much could you save from refinancing your mortgage? Here's how to tell if refinancing your mortgage is worth it. This article will explore much can refinancing…

Kristin McKennaMarch 2, 2020

Early Retirement Forbes Home buying Real Estate Retirement Planning Updated for 2020

Should You Buy Your Retirement Home Before You Retire?

This article was written by Darrow advisor Kristin McKenna, CFP® and originally appeared on Forbes. When should you buy your retirement home? Buying a retirement home too early could be short-sighted, despite long-term intentions. Whether you're in your 30s or 60s, it's important to objectively weigh the pros and cons…

Kristin McKennaFebruary 27, 2020