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 Tax planning

Tax Efficient Retirement Withdrawal Strategies

As you approach retirement, it’s important to have a strategy to minimize the taxes on your withdrawals. Keeping in mind a few key points can help prepare you to manage your savings in retirement. Since everyone’s circumstances are different, work with your financial advisor to determine the best approach for…

Kristin McKennaMay 22, 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

Current events Forbes Investing During a Crisis

5 Explanations for the Disconnect Between the Stock Market and the Economy

After the recent low point for the S&P 500 on March 23rd, 2020, the index is up over 28% on a total return basis as of May 12th. A 28% gain in less than two months, during a pandemic? It’s understandable investors are wondering why there’s such a disconnect between…

Kristin McKennaMay 19, 2020

Budgeting Early Retirement Financial Planning Forbes Investing Retirement Planning

Are You Overestimating Your Expenses in Retirement?

How much money do you need saved to retire comfortably? It depends entirely on how much you plan to spend. In this piece for Forbes, Darrow Wealth Advisor Kristin McKenna discusses ways investors can estimate their expenses in retirement. (more…)

Kristin McKennaMay 18, 2020

401(k) Plans Infographics IRA Rollover Job Transition

Should I Roll My 401(k) Into An IRA? Rollover Options When You Change Jobs

401(k) rollover options when you change jobs If you've switched jobs and haven't taken your old 401(k) with you, consider your rollover options. There are 4 options for your old 401(k): 401(k) rollover into an IRA Convert your 401(k) into a Roth IRA Leave your 401(k) in the old plan…

Kristin McKennaMay 12, 2020

Retirement Planning

The Best Way to Avoid Running Out of Money in Retirement? Don’t Overspend in the Beginning

Figuring out what you can spend in retirement is challenging. So is calculating what you might want to spend. Spending in retirement isn’t level, and what you end up spending money on will also change as you get older. If investors are concerned about running out of money in retirement,…

Kristin McKennaMay 11, 2020