In The News
Mike Piershale, President of Piershale Financial Group, joins the hosts of Yahoo! Finance "On the Move" to talk about how the rate cut and tariffs on China are affecting the markets. "We use the phrase shock and awe, if they had done a 50 basis rate cut I think it would have been much more positive for the markets," says Piershale.
Mike Piershale, president at Piershale Financial Group, appears on Cheddar TV at the New York Stock Exchange to weigh in on recent market performance and three top performing stocks. "We're very bullish right now for the year. As far as today's market performance, I think it's the beginning of good volume and upward movement in the market," Piershale says.
Mike Piershale, president of Piershale Financial Group, appears on a WealthManagement.com segment to discuss steps to ensure financial success for clients who have come into a great deal of wealth. “With this newfound wealth, I ask clients if any of their goals will change. It may be a little surprising how often some say that nothing has really changed, they just consider this additional resource to provide more peace of mind,” Piershale says.
On Monday, March 3, Mike Piershale returned to WGN-TV "Your Money Matters" discussing investment strategies to consider in today's environment. During the appearance, Mike weighed in on protecting portfolio assets, especially as the market continues its volatile trajectory. "It's important to figure out a stock and bond allocation that will reduce investment risk," he explained.
On Monday, September 16, Mike Piershale appeared on CNBC to offer insight on the latest financial news. During his appearance, Mike weighed in on market direction over the short-term and what investors should expect ahead of potential Fed tapering policies.
On Monday, August 19, Mike Piershale returned to WGN-TV to offer tax planning strategies to viewers. During an appearance on WGN-TV “Your Money Matters,” Mike suggested tax tips for viewers to consider making now to maximize refunds for next year. “The sooner you can begin planning, the better,” he says. “It can create an opportunity to save money in taxes.”
Reuters TV reporter Bobbi Rebell interviews Mike Piershale, president of Piershale Financial Group, in a video segment detailing the latest stock market direction. “The markets are very close to the magic number of Dow 20,000,” Piershale explains. “Even though the markets are bouncing around, we believe that we will break through that barrier sometime very soon.”.
Mike Piershale, president of Piershale Financial Group, returns to WGN-TV to discuss tips that viewers should consider if they wish to reduce income taxes next year. “We encourage our clients to start saving more money on a monthly basis in retirement plans instead of putting the funds into a taxable account,” he says. “In addition, we suggest investors buy tax-favored investments.”
Mike Piershale, president of Piershale Financial Group, appears on WGN-TV “Your Money Matters” to discuss inherited IRA accounts. Piershale outlines tax strategies that heirs and spouses should consider when inheriting an IRA, especially for non-spousal beneficiaries to avoid being subjected to a tax bomb. In addition, he reviews designation and distribution plans that non-spousal beneficiaries should keep top of mind.
Veronica Dagher of The Wall Street Journal features Mike Piershale, president of Piershale Financial Group, in a video outlining why dividend paying stocks may not be attractive to investors in 2013. “If the Bush tax cuts expire, the maximum tax bracket on dividends is going to rise from 15 percent to 43.4 percent,” Piershale says. “We’re advising people in certain situations to put more of their dividend paying stocks into their IRAs if they don’t need the income.”
Mike Piershale, president of Piershale Financial Group, appears on FoxNews.com LIVE with host Lauren Simonetti to discuss how investors can prepare their finances amid looming year-end tax changes. While the future of many tax cuts is not certain at this point, Piershale explains that investors understand how possible changes could ultimately impact their financial position. “We believe it’s important to prepare for the worst, regardless if the worst actually does happen or not,” he says.
During an appearance on WealthManagement.com, Mike Piershale, president of Piershale Financial Group, discusses inherited IRA issues with Editor Susan Lipp. Piershale highlights the rules for IRA beneficiaries that advisors need to keep top of mind. “The first thing we coach to our own advisors is to understand that there are five primary groups of beneficiaries and the IRS rules for each group are different,” he says. “It’s vital to understand the proper titling of a beneficiary, given these groups.”
In The News
'When a person retires with a company retirement plan, it’s important to know the pros and cons of rolling over to an IRA vs. leaving your money in the plan," said Mike Piershale, ChFC, RFC, President of Piershale Financial Group. Mike writes an article for Kiplinger sharing a list of the pros and cons people should consider, emphasizing that the decision won't be the same for everyone.
With the passing of the SECURE Act, many changes in required payouts for beneficiaries on retirement plans and IRAs have people confused. Mike Piershale, ChFC, RFC, President of Piershale Financial Group, writes an article for Kiplinger about how to easily understand payout rules. "A simple way to understand the different required retirement plan payouts is to start by dividing retirement plan beneficiaries into three groups: Non-designated beneficiaries, non-eligible designated beneficiaries, and eligible designated beneficiaries," says Piershale
Kiplinger, February 15, 2023
In the current economic environment, some people may be faced with the decision to withdraw from their pre-tax retirement plan to access needed cash. Mike Piershale, ChFC, RFC, President of Piershale Financial Group, writes an article for Kiplinger about ways to avoid being penalized for these withdrawals. "The most important thing to do to avoid paying an unnecessary penalty is to become familiar with what exception applies to what retirement plan," says Piershale.
ThinkAdvisor, January 5, 2023
John Manganaro of ThinkAdvisor features Ben Barzideh, ChFC, wealth advisor at Piershale Financial Group, insights on how to avoid a cash crunch in retirement. Ben explains the importance of tax diversified retirement savings and emergency savings, the nuances of early retirement account distributions and the value of “series of substantially equal periodic payments” or SOSEPP for near retirees facing a liquidity
ThinkAdvisor, November 18, 2022
Mike Piershale, ChFC, RFC, President of Piershale Financial Group, speaks with ThinkAdvisor's John Manganaro about how newly and nearly retired clients should seize the opportunity in late 2022 to make conversions between traditional IRAs to Roth IRAs. "The advantage presented by down markets is a matter of straightforward arithmetic," says Piershale.
Kiplinger, November 8, 2022
Mike Piershale, ChFC, RFC, President of Piershale Financial Group, penned an article for Kiplinger about how small businesses can use a safe harbor 401(k) to amp up employee participation and morale while saving on costs and taxes. "A safe harbor 401(k) is a great way for small-business owners to reward employees and keep them happy by making generous retirement contributions on their behalf that are immediately vested," says Piershale.
Mike Piershale, ChFC, RFC, President of Piershale Financial Group, speaks with ThinkAdvisor's John Manganaro about protecting client assets through the tumultuous market by moving 100% into cash and cash equivalents. Piershale points out that the strategy may be unorthodox, but it is continuing to attract and retain clients. “Our strategy does miss out on some of the upside, don’t get me wrong, but that’s what our clients know to expect. The average client we have is 66 and they have substantial assets, so the goal of protection means a lot to them," says Piershale.
GOBankingRates, September 28, 2022
Ben Barzideh, ChFC, wealth advisor at Piershale Financial Group, is included in Heather Taylor's GOBankingRates article on how retirement looks in 2022 as well as the evolving vision of retirement. Barzideh explains that the concept of retirement is not relatively new, but it has changed significantly over the past few generations. “People worked for as long as their bodies would allow, then moved in with their kids who took care of them for the remainder of their life,” says Barzideh.
U.S. News & World Report, August 24, 2022
Coryanne Hicks of U.S. News & World Report includes Matt Nadeau, CFA, wealth advisor at Piershale Financial Group, in her recent article about advice financial advisors should not give to their clients, according to financial experts. For example, your financial advisor shouldn't say to you "it's only money," and instead acknowledge that loss is hard. "Hearing a phrase like 'it's only money' or 'easy come, easy go' can indicate an advisor doesn't respect your money or how hard you worked to earn it," says Nadeau.
U.S. News & World Report, July 7, 2022
Matt Nadeau, CFA, wealth advisor at Piershale Financial Group, is featured in Coryanne Hicks's U.S. News & World Report article about the top seven high-return, low-risk investments for retirees. One way to keep a bond portfolio potentially safer and more flexible is to use a bond ladder. "For retirees, we advise being mindful of what portions of your savings you need to keep liquid to meet living expenses and what portions you can tie up into less-liquid investments," says Nadeau.
Mike Piershale, ChFC, RFC, president of Piershale Financial Group, contributes a byline to Kiplinger about ways children can save money while receiving tax benefits and a higher rate of return. "As long as a child has earned income, they can contribute up to $6,000 per year in a Roth IRA at any age. Someone else can also fund the Roth IRA for the child for up to $6,000 a year as long as the child has earned income equal to the amount contributed on their behalf," says Piershale.
InsuranceNewsNet, June 15, 2022
Matt Nadeau, CFA, wealth advisor at Piershale Financial Group, is included in Doug Bailey's InsuranceNewsNet article about The Federal Reserve announcing the largest rate jump since 1994. Nadeau explains how inflation is starting to destroy corporate earnings and depress consumer spending. "Put simply, inflation now is becoming a bigger problem than the rate hikes themselves, and the Fed had to at least show that they were going to take a strong stand in the fight against inflation. We believe the Fed is playing catch-up and the actions they are taking now may not be enough in the short-term to help avoid a recession," says Nadeau.
Mike Piershale, ChFC, RFC, president of Piershale Financial Group, pens a byline for Kiplinger about the golden rules of investing to safeguard your savings when the markets are on edge. "It’s very unlikely that if you’re spread out over a number of different investment asset classes that they’ll all fall the same amount, and you might even see some go up. The idea in being diversified is to increase the odds that your overall return will do better in a market drop than if you overweighted in a small handful of investments that happened to fall hard," says Piershale.
Mike Piershale, ChFC, RFC, president of Piershale Financial Group, is included in Jon Markus' AARP article on how to get a higher Social Security payout. The strategy of using a 401(k) as a bridge to Social Security is getting increasingly popular. Although, there are a few drawbacks to this strategy. People who have reason to believe they might not live long, who could need long-term care, who worry about other kinds of financial emergencies, or who don’t have much saved up could have reservations about depleting their 401(k)s too soon. "The 'sweet spot' for using the bridge strategy is having between $100,000 and $250,000 in investments and savings, including 401(k)s," says Piershale.
Financial Planning, April 7, 2022
Matt Nadeau, CFA, wealth advisor at Piershale Financial Group, is featured in Diana Li's Financial Planning article about how some financial advisors are protecting their clients by rotating into cash during market downturns. Nadeau says uncertainties around upcoming rate hikes, the energy crisis brought on by the war in Ukraine, and concerns over the supply chain make it a bad time to stay in the stock market.
Financial Advisor Magazine, April 1, 2022
Ben Barzideh, ChFC, wealth advisor and Piershale Financial Group are featured in Jacqueline Sergeant's Financial Advisor Magazine article about how the firm protects its clients during times of market volatility. Barzideh explains that the firm runs a tactical investment strategy that suits the firm's client base of retirees and pre-retirees. "It really is a good solution for a retiree because they want to benefit from the market, they want to be in it when it's doing well. But when there is an above-average amount of risk, they want to sleep better knowing that they are not completely exposed to what can happen in the market," says Barzideh.
GOBankingRates, March 17, 2022
Cynthia Meason of GOBankingRates includes Matt Nadeau, CFA, wealth advisor at Piershale Financial Group, in her recent article about some of the ugly truths Americans should be aware of when it comes to taxes and how these truths may explain why their returns may not yield the results they anticipated. “If the mutual fund’s managers sell securities in the mutual fund for a profit, the IRS typically considers your share of that profit a capital gain, even if you have not sold the mutual fund. The mutual funds will usually distribute these capital gains to once a year and these capital gains are taxable income, even if you reinvested the money," says Nadeau.
Ben Barzideh, ChFC, wealth advisor at Piershale Financial Group, is included in Beth Braverman's CNN Business article on setting up your retirement account and how to take full advantage of your 401(k), or any other employer-sponsored retirement account your job might offer. Getting started can be the most difficult part of saving for retirement. "Once you set it up, very quickly after a few paychecks, you just get used to living on the new net amount, just as you do with taxes," says Barzideh.
Mike Piershale, ChFC®, and president of Piershale Financial Group, writes a piece for Kiplinger about the January barometer that indicates January's stock market performance may predict its performance for the rest of the year. "Since 1950 the direction of the S&P 500 in January has accurately predicted the direction of the stock market for the year 72.2% of the time. And when the return on the S&P 500 during the first five days of January has been positive, the stock market has had a positive return for the year roughly 83% of the time," says Piershale.
Ben Barzideh, ChFC, wealth advisor at Piershale Financial Group, is quoted in Alisa Wolfson's MarketWatch piece on how to communicate with your financial advisor and potential questions to ask. "It’s not too much to ask for quarterly reviews. It’s not too much to ask for the advisor to reach out in case of an attractive investment or just check in from time to time,” says Barzideh.
U.S. News & World Report, January 26, 2022
Ben Barzideh, ChFC, wealth advisors at Piershale Financial Group, is included in Rachel Hartman's U.S. News & World Report article about how individuals can maximize Social Security with spousal benefits. There are a variety of things to keep in mind if you plan to maximize spousal benefits after divorce. "Both you and your ex-spouse must be at least 62. If your second marriage didn’t last 10 years, you’ll still be eligible to collect benefits on your first spouse’s record," says Barzideh.
GOBankingRates, December 17, 2021
Mike Piershale, ChFC, president of Piershale Financial Group, is included in Andrew Lisa's GOBankingRates article about areas of the economy that have been impacted the most by inflation in 2021. Although everyone has felt the impacts of inflation this year, Piershale provides insight into which group of Americans have been the hardest hit. "Rising prices are mainly hurting people who can least afford it. For example, for everyday Americans, food inflation is now running very close to 30%-40% of their expenses. Many of our clients are driving less to save on gas, eating more inexpensive cuts of meat, and even lowering their thermostats to reduce their gas bills. Some are also putting off the purchase of automobiles since even used cars are up 32% over the last year and putting off home improvements with the skyrocketing cost of lumber,” says Piershale.
Ben Barzideh, ChFC, wealth advisor at Piershale Financial Group, is included in James Royal's Bankrate article about what individuals should do if they're planning to retire in 2022. One of the most important things individuals should do prior to heading into retirement is prepare for how inflation will impact their savings. “We can run retirement cash flow reports that will analyze the current income needs of the client and their available assets, and it projects forward 20-30 years with some reasonable growth assumptions for the investments. We can add a cost of living increase each year to their income and see how that would affect the long-term projections,” says Barzideh.
U.S. News & World Report, December 1, 2021
Matt Nadeau, CFA and wealth advisor at Piershale Financial Group, is included in Rachel Hartman's U.S. News & World Report article on how many retirement accounts one should have. In the case you max out on one type of retirement account, it may be worth it to open more than one account. “It can be beneficial to have multiple retirement accounts, as they all provide different benefits that a person may need to take advantage of,” says Nadeau.
Matt Nadeau, CFA and wealth advisor at Piershale Financial Group, is included in Nick Fortuna's Barron's article about ways consumers can protect their finances from inflation. Regardless of if inflation is a momentary phase or here to stay, Nadeau shares that treasury inflation-protected securities and commodities may help consumers hedge against inflation.
Mike Piershale, ChFC®, and president of Piershale Financial Group writes a piece for Kiplinger about why taking out more than your required minimum distribution from a retirement account could cost you thousands of dollars in taxes. "To avoid getting hit with unnecessary taxes, you need to have a firm understanding of what your required minimum distribution should be. The easy way to verify whether you're taking more than your required minimum distribution is to simply call the institution where you have your IRA and ask them," says Piershale.
U.S. News & World Report, November 10, 2021
Rachel Hartman includes Ben Barzideh, ChFC® and wealth advisor at Piershale Financial Group, in her updated U.S. News & World Report article about how to take 401(k) hardship withdrawals. Barzideh shares why using a hardship withdrawal for a house may have the least negative impact. “A home does appreciate over time much like an investment. There are also emotional and psychological benefits to owning a home,” says Barzideh
You could accidentally disinherit your children because of an ERISA rule. Mike Piershale, ChFC® and president of Piershale Financial Group, pens a piece for Kiplinger explaining the little known rule that may prevent your children from being the true beneficiaries of your company retirement plan if you've remarried and how to avoid the problem. "A critical thing to remember is that the spouse giving up the benefits must have signed the waiver while the couple was married. So, if he or she signed a prenuptial agreement before the marriage, giving up their rights to the company plan, it won't serve as a valid waiver," says Piershale.
Ben Barzideh, ChFC® and wealth advisor at Piershale Financial Group, is included in a Barron's article by Nick Fortuna detailing how younger workers are impacted differently during market dips than older workers. "Certainly, we would never recommend that older people reduce their bond holdings due to this. They may want to reduce some of their longer-term bonds and add a little bit more to medium-term or even short-term bonds if bonds are getting hit pretty bad," says Barzideh.
U.S. News & World Report, July 28, 2021
Ben Barzideh, ChFC® and wealth advisor at Piershale Financial Group, is included in a U.S. News & World Report article by Tim Smart commenting on how inflation and the delta variant has not cut into consumers' desire to spend. "There's so much extra money that even with the higher prices it hasn't discouraged anybody from spending. And, for the roughly half of the population that is fully vaccinated, the delta variant is more likely to be a nuisance than a major health concern," says Barzideh
Financial Advisor, July 21, 2021
Ben Barzideh, ChFC® and wealth advisor at Piershale Financial Group, is included in a Financial Advisor Magazine article by reporter Ben Mattlin detailing the key advantages to annuities and how the government taxes them. "If they don’t take anything out for the 10 years … then at that 10th year they have to take a full distribution of the amount and what it has grown to. That could be a tax disaster," says Barzideh
Mike Piershale, ChFC® and president of Piershale Financial Group, shares how taking a quick look at your tax return can reveal easy ways to reduce your taxes in a new piece for Kiplinger. "If you look at line 2b located on the first page of your return, this shows interest taxed as ordinary income, usually from money in the bank or taxable bonds. If you’re in the 24% tax bracket or higher, you may want to consider getting rid of some, or all of this taxable interest by moving to fixed income alternatives that generate tax-free interest, with comparable safety," explains Piershale.
Financial Advisor, June 1, 2021
Ben Barzideh, ChFC® and wealth advisor at Piershale Financial Group, is included in a Financial Advisor magazine article by reporter Ben Mattlin detailing the income gap created by entering retirement early and what investment vehicles may help retirees fill in gaps of their income. "The annuity can provide a safe and predictable income stream. It feels like a paycheck, just like when you were working. It’s not going to go down or go away,” says Barzideh.
U.S. News & World Report, May 21, 2021
Mike Piershale, ChFC® and president of Piershale Financial Group, is quoted in Rodney Brooks' U.S. News & World Report article explaining what a Mega Backdoor Roth is and why it’s beneficial. “This is a way to get a lot of extra money in that Roth and of course the Roth is the goose that lays the golden eggs, because for the rest of your life when you pull that money out, it all comes out tax free. That's why they call them mega backdoor Roth, because you put this huge amount in,” says Piershale.
Ben Barzideh, ChFC® and wealth advisor at Piershale Financial Group, is included in Tom Bemis' TheStreet article about Biden's address to Congress urging them to pass trillions of dollars in spending on education, childcare and infrastructure programs over the next 10 years. To pay for these programs, Biden proposed doubling capital gains taxes for wealthy Americans. "I think very few people would be impacted by this tax hike at all," says Barzideh.
Mike Piershale, ChFC, president of Piershale Financial Group, pens a piece for Kiplinger about exchange-traded funds and the cost savings they offer to consumers. "Between the expense ratio and the invisible trading costs of a managed mutual fund, the total average expense is easily over 2% for mutual funds, which is over 20 times more than the typical expense of an ETF," explains Piershale.
U.S. News & World Report, March 31, 2021
Mike Piershale, ChFC® and president at Piershale Financial Group, is included in Rachel Hartman's U.S. News & World Report article about the differences between IRAs and 401(k)s. Piershale explains how employees can contribute to a 401(k) and the income limits of an IRA. "Once your modified adjusted gross income gets over $140,000 for a single person or $208,000 for a married couple filing jointly, you cannot buy a Roth IRA," says Piershale.
Financial Advisor magazine, March 1, 2021
Ben Barzideh, ChFC®, wealth advisor at Piershale Financial Group, is quoted in a Financial Advisor magazine article by reporter Ben Mattlin focusing on the topic of generating retirement income with annuities. Barzideh provides a contrarian view to retirees utilizing annuities as a strategy, and says they can be a rather expensive tactic. "If I told you to give me a big chunk of your money right now, and I’ll give it back to you in small installments over the rest of your life, and I’ll hardly add any interest to that pool of money—that doesn’t sound like something any reasonable person would do, does it? But that’s the concept of annuitization," he offers.
U.S. News & World Report, February 10, 2021
Rachel Hartman includes Ben Barzideh, wealth advisor at Piershale Financial Group, in a U.S. News & World Report article about how individuals can maximize Social Security with spousal benefits. Barzideh explains how benefits may change in the event of a second divorce. "If your second marriage didn’t last 10 years, you’ll still be eligible to collect benefits on your first spouse’s record," says Barzideh.
Mike Piershale, president at Piershale Financial Group, contributes a byline to Kiplinger explaining how people can sell stocks or mutual funds to convert their taxable gains into tax-free money. Piershale shares insight on the income sweet spot years when this will work for investors. "The gain won't be taxed when it occurs in a year when the investor is in the 0% long-term capital gain tax bracket, which for 2021 occurs when they have taxable incomes of $40,400 or less for singles or $80,800 or less for married couples," says Piershale. This may happen when someone is temporarily unemployed, a self-employed person whose income varies from year to year, or when retired between the ages of 60 and 72 before a person starts taking required minimum distributions.
James Royal includes Ben Barzideh, wealth advisor at Piershale Financial Group, in a Bankrate article about why it’s vital for seniors to be fully prepared before they retire, and to make room in their plans for the unexpected. Barzideh explains unexpected costs seniors may encounter. “What might surprise someone retiring this year is how much health insurance costs these days,” says Barzideh.
FoxBusiness.com, January 22, 2021
Matt Nadeau, wealth advisor at Piershale Financial Group, is quoted extensively throughout an article on savings goals by FoxBusiness.com reporter Rebecca Lake. The article offers strategies for increasing savings over the course of 2021. "One thing the pandemic has revealed is a real need for emergency savings," Nadeau says. "The unexpected can and will happen and having a stash of emergency savings can give you peace of mind when facing difficult situations."
Adam Shell includes Matt Nadeau, wealth advisor at Piershale Financial Group, in a USA Today article about money tips for the new year. Nadeau recommends not waiting to save until a person is debt-free. He explains that putting off saving means investors miss out on a key component of saving, which is time that allows for compound interest. "That's free money," says Nadeau.
Mike Piershale, president at Piershale Financial Group, shares his insight on trusts in a byline for Kiplinger. Mike says for married couples, separate trusts can cause some headaches so joint trusts are usually a better option. "A joint trust is easier to fund and maintain during the couple's lifetime. They don't need to think about the hassle of equalizing the value of each of their separate trusts or trying to decide what assets to title in one trust or the other, since everything goes into one trust," explains Piershale.
U.S. News & World Report, November 18, 2020
Mike Piershale, president of Piershale Financial Group, is included in Rachel Hartman's U.S. News & World Report article discussing some of the top financial fears investors have and how they can overcome them. One of the top fears many investors have is running out of money during their golden years. "Use a good retirement calculator or work with a financial advisor with good retirement planning software. The projection should include all sources of retirement income, like Social Security, pensions, rental income, portfolio income and even a part-time job if necessary," says Piershale.
U.S. News & World Report, November 4, 2020
Ben Barzideh, wealth advisor at Piershale Financial Group, is included in Rachel Hartman's U.S. News & World Report piece about 401(k) hardship withdrawals. The CARES Act created provisions that allow for COVID related hardship withdrawals. "Qualifying individuals are those whose health or finances have been impacted by COVID," says Barzideh.
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U.S. News & World Report, October 19, 2020
Maryalene LaPonsie includes Mike Piershale, president of Piershale Financial Group, in a U.S. News & World Report article on what investors need to know about a traditional IRA. Piershale explains that the first years of retirement can be the perfect time for investors to convert money from a traditional IRA to a Roth IRA because a Roth IRA will allow the fund to continue growing tax-free.
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Mike Piershale, president at Piershale Financial Group, writes a byline for Kiplinger explaining how you can still contribute to a Roth IRA even if you make too much money to qualify for one. He details how this can be done by making "after-tax contributions" to your 401(k) if your company plan allows it. "Why? Although there are several reasons, the most important is it may put you in a position to convert these after-tax funds to a Roth IRA, even if you earn too much money to qualify," says Piershale.
U.S News & World Report, September 11, 2020
Rebecca Lake includes Matt Nadeau, wealth advisor at Piershale Financial Group, in a U.S. News & World Report article on how to invest if you're starting your retirement savings at 40. Nadeau explains that starting to save for your retirement at 40 means you have your work cut out for you, but there is still time to catch up with careful planning and dedication.
Rocky Mengle includes Matt Nadeau, wealth advisor at Piershale Finance Group, in a Kiplinger article about taxes on Social Security benefits and how retirees can lower their tax rate on this benefit. Nadeau explains that the tax strategy investors use should be put in place long before their first Social Security check arrives and that Roth conversions are excellent options because of the tax-free withdrawals that won't raise an investor's AGI.
Matt Nadeau, wealth advisor at Piershale Financial Group, is quoted in a CNBC Grow article by reporter Nancy Mann Jackson discussing market drivers over the course of September. "Jobless claims remain the most important economic report for investors to watch on a weekly basis," he says. "As long as claims don't start drifting higher, the market will view the data as supportive of an ongoing economic recovery."
Yahoo! Finance, August 26, 2020
Ben Barzideh, wealth advisor at Piershale Financial Group, returns to Yahoo! Finance to discuss the disconnect in the market and the impact a selloff would have on the economy. "I think the Fed still has more bullets and it's not completely out of ammo. So I think what you'll see is there will be a downturn, it will be quick, I think it would be concerning. And I think you'd see the Fed step up to the plate and do more to help recover. I think there will be confidence in the Fed and what they can do," says Barzideh.
Nancy Mann Jackson includes Ben Barzideh, wealth advisor at Piershale Financial Group, in a Grow article about how the market has performed in the midst of COVID-19 and why the next stimulus package will have such an impact on the economy. "The economic data we’re seeing is worse by a mile than anything we’ve seen in many years, but people aren’t feeling it as much because we have so many safety nets in place," Barizdeh says.
Mike Piershale, president at Piershale Financial Group, pens an article for Kiplinger detailing the disadvantages of pretax retirement accounts. "While the disadvantages of 401(k)s, traditional IRAs and other pretax retirement accounts don't invalidate the wisdom of putting money in them, they do suggest that there might be a need to strike a better balance between funding a retirement account and a taxable account to diversify your tax strategies," Piershale explains.
Sarah Foster includes Matt Nadeau, wealth advisor at Piershale Financial Group, in a Bankrate article about a new survey that shows 61% of experts believe the stock market will underperform over the next five years. “It is going to take a number of years to get back to low unemployment and the same levels of GDP growth we saw over the past few years,” explains Nadeau.
Michael Foster from Kiplinger quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about the role municipal bonds can play in a portfolio and the tax protections they provide investors. "Muni bonds are a good way to provide consistent income, and the tax angle can also provide additional value. Also, bonds tend to fluctuate much less than stocks, so it brings a level of diversification and safety for the overall portfolio," says Barzideh.
Financial Advisor, July 1, 2020
Ben Barzideh, wealth advisor at Piershale Financial Group, is included in Ben Mattlin's article from Financial Advisor about RMD suspensions as a result of the CARES Act. Barzideh explains that if a person already took the RMD and they're outside the 60-day rollover window, they can still get an extension if they can show they were negatively impacted by COVID-19.
Ben Barzideh, wealth advisor at Piershale Financial Group, is included in an article from Kiplinger that answers common questions about how the CARES Act has impacted required minimum distributions. Many investors wonder if their qualified charitable distributions can be rolled back and how it will be taxed. Regardless of changes that may occur, Barzideh explains that qualified charitable distributions are the most tax efficient way to give to charity.
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Financial Planning, June 2, 2020
Mike Piershale, president of Piershale Financial Group, is included in Andrew Shilling's article from Financial Planning about financial advisors who have gone independent. Piershale explains that one benefit of going independent was his ability to vamp up his marketing skills. He participates in a weekly radio show, The Money Hour Radio on AM 560, and speaks to journalists frequently.
Financial Advisor Magazine, May 26, 2020
Ben Barzideh, wealth advisor at Piershale Financial Group, is included in Ben Mattlin's article about how the temporary suspension of required minimum distributions may impact investors. One factor for investors to keep in mind is the tax implications that may result from suspending or continuing to withdraw. "It’s our understanding the client will have some taxable income for the portion of the decline in value that couldn’t get back into the IRA," says Barzideh.
Mallika Mitra from Money quotes Mike Piershale, president of Piershale Financial Group, in an article about the state of municipal bonds in the coronavirus environment. Piershale explains that compared to buying individual bonds, municipal bonds as a part of a mutual fund or ETF provide relative safety because it lowers the impact of a default.
Mike Piershale, president at Piershale Financial Group, contributes a byline to Kiplinger that details why investors should consider a Roth IRA conversion. Many investors may find themselves in a lower tax bracket because of income loss or because the CARES Act allows them to skip their taxable required minimum distributions for retirement accounts this year. "The time to make these extra-cheap conversions is limited, however. Longer-term tax rates are likely to be higher than where they are now, making future Roth conversions more expensive if you wait too long," says Piershale.
Nick Fortuna from Barron’s quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about what to consider if your company is offering you an early retirement package. Barzideh recommends workers that are near the retirement age to take the buyout because the offer usually is a sign of financial distress. “If you don’t take it, a lot of times you’re still going to get laid off a little farther down the road, and you might not get anywhere near the benefits that you thought you were going to get,” says Barzideh.
Reporter Sarah Foster includes Ben Barzideh, wealth advisor at Piershale Financial Group, in a Bankrate article about research that shows 63 percent of investing professionals believe the economic pullback will last for two quarters. Barzideh discussed how investors can craft their portfolios to see the biggest returns, “there is pent-up demand caused by the closings from the coronavirus. The economy can re-inflate fast, and growth [stocks] usually leads the way in such an environment,” says Barzideh. “U.S. stocks are more discounted, with higher potential for quick recovery from the current bear market. Structure and demographics are better in the U.S., with higher potential of earnings growth.”
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Bozeman Daily Chronicle, April 13, 2020
Mike Piershale, president at Piershale Financial group, pens an article for Kiplinger.com detailing some of the benefits that may come along with getting married during retirement. He explains that inheriting IRAs is significantly different for married couples. "If you are married, you can roll your deceased spouse's IRA over to your own IRA and delay taking required taxable distributions until you are age 72. If you are not married and you are the beneficiary, your best option will be to transfer your deceased partner's IRA to the less tax favorable inherited IRA, where under the new Secure Act, this will trigger a lot more in taxes in most cases," says Piershale.
Ben Barzideh, wealth advisor at Piershale Financial Group, joins Yahoo! Finance "On the Move" to discuss the Fed's emergency rate cut. "I think a lot of people expected that it was going to be coming, but today and that fashion that it was, was certainly a surprise. I think it's good and concerning at the same time. Because it's good that the Fed is standing behind the market... But we're definitely going to be in some potential slowdowns and we don't know what's going to happen so far," says Barzideh.
Kiplinger.com, February 28, 2020
Mike Piershale, president at Piershale Financial Group, is included in a roundup of financial professionals commenting on the coronavirus' impact of the stock market, and what investors need to know in the short- and long-term. "I would tell a retiree to stay with our preset plan, which in most cases would be a conservative, well-diversified portfolio," Piershale explains. "I would also advise them not to jump out of the ship in the middle of the storm...don't sell out of the stock portion of a portfolio after they have already dropped."
Matt Nadeau, wealth advisor at Piershale Financial Group, is included in Jessica Menton's article about the extended loss U.S. stocks have recently experienced. Nadeau explains why yield changes may concern investors. "The drop in yields was a big red flag. It reinforced fears among investors that there's extra pressure on the global economy.”
Considerable.com, February 24, 2020
Considerable.com reporter Rodney Brooks quotes Mike Piershale, president at Piershale Financial Group, in an article about calculating health care needs in retirement. Piershale recommends a consistent savings effort, as to not upend retirement plans. "Your best bet is to continue socking away money in your tax-free accounts," Piershale explains. "Max out your 401(k), max out your IRA and open a Roth IRA if possible."
U.S. News & World Report, February 14, 2020
Reporter Rebecca Lake includes Matt Nadeau, wealth advisor at Piershale Financial Group, about common tax mistakes investors make. "Good tax management should be a critical part of investors' plans because this is one area they can often control. Any time you find tax-saving opportunities, investors can look at this as risk-free returns because they're able to identify ways to save money on their investments outside the market," he says.
Kiplinger.com, January 9, 2020
Mike Piershale, president at Piershale Financial Group, contributes an article to Kiplinger.com discussing how municipal bonds can be a conservative way to increase yield. "Munis provide a way that states or municipalities can borrow the funds they need to finance a public works project, and the interest they pay to investors who buy into them is exempt from federal taxes. The big plus of a muni is that it's an alternative to a retiree looking for higher income than a bank CD, but with less risk than being in something as risky as stocks," he explains.
Reporter Sarah Foster from Bankrate compiled research that reveals about 85 percent of market professionals expect the S&P 500 to close higher than it is now, with the average forecast calling for a year-end target of 3,364. In her article, she quotes Matt Nadeau, wealth advisor at Piershale Financial Group, about what issues may arise in 2020. "The biggest issue for most of the year is just the unknown. Companies and investors may be taking a ‘wait-and-see’ approach before making investment decisions. With a wide range of potential policy outcomes, it is hard to know the long-term impact,” says Nadeau.
Reporter Martha White of Money magazine quotes Matt Nadeau, wealth advisor at Piershale Financial Group, in an article about Americans opting to stay in the workforce longer, and how working past 65 can affect Social Security benefits. For those who plan to work well into traditional retirement years, Nadeau urges readers to understand how it could alter taxes and medical insurance bills, in addition to Social Security. "People don't look at how it impacts their other sources of income," he says.
U.S. News & World Report, December 11, 2019
Mike Piershale, president of Piershale Financial Group, is included in Rachel Hartman's article about IRA rules. Piershale explains that you can take out the original contribution put into a Roth IRA at any time without facing taxes and penalties. "This can be very helpful to a young family putting money in Roth IRAs, knowing they can always pull their original contribution out if they have an unexpected emergency," says Piershale.
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Yahoo! Finance, December 11, 2019
Mike Piershale, president of Piershale Financial Group, is one of the financial experts included in Sarah Foster's article about the future of borrowing costs ahead of the next Federal Reserve meeting. The majority of experts surveyed indicated that they believe the Fed would pencil in no additional rate moves for 2020 on its quarterly "dot plot" chart.
Kiplinger.com, November 21, 2019
Mike Piershale, president at Piershale Financial Group, pens an article for Kiplinger on the complications of tax planning for small business owners, according to a QBI deduction. "The problem is that the small business owner who qualifies for this deduction, and makes a contribution to their employer-sponsored retirement plan, will end up with a partial deduction of only 80% of the contribution," Piershale explains. "But they will pay income tax on 100% of this contribution, plus all future earnings, when it's later withdrawn."
Mike Piershale, president of Piershale Financial Group, is included in Jessica Menton's USA Today article about how stocks perform during a presidential election year. Piershale says he recommends clients stay in their current allocations. "We're in the longest bull market in history and we're overdue for a recession, but good economies don't die of old age. At some point, this bull market is going to be over, but there are positive signs that this could last through 2020 at least," explains Piershale.
U.S. News & World Report, October 18, 2019
Reporter Rebecca Lake includes Ben Barzideh, wealth advisor at Piershale Financial Group, in a recent U.S. News & World Report article about reasons investors may use their Roth IRA to achieve an early retirement. One reason investors may favor a Roth IRA is because the growth accumulates tax free. "The best strategy to make the most of a Roth IRA is to build it up while working, then actually leave it alone for the early retirement phase of life," says Barzideh.
US News & World Report, October 18, 2019
Reporter Rodney Brooks of US News & World Report quotes Matt Nadeau, wealth advisor at Piershale Financial Group, in an article about the importance of an estate plan. While an often difficult plan to create, an estate plan is critical to set up, especially since your estate will go through probate if a Will is not in place before one's passing. "The probate process can be expensive, and legal costs will reduce the amount your loved ones inherit. You want an easy transition of your assets," he explains.
GoBankingRates, October 14, 2019
Matt Nadeau, wealth advisor at Piershale Financial Group, is included in Jaime Catmull's GoBankingRates article on investing rules you should break. Matt explains the rule about buying high and selling low is very subjective. "This can lead to investors assuming an investment has value after it has experienced a large sell-off. However, often it has been sold for a good reason and can lead to buying a bad investment. In reality, investors should be looking to buy high and sell when investments move higher," says Nadeau
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Yahoo! Finance October 14, 2019
Reverse Mortgage Daily, October 7, 2019
Reporter Chris Clow of Reverse Mortgage Daily includes insight from Mike Piershale, president at Piershale Financial Group, which stemmed from his Kiplinger byline on avoiding a pre-retirement financial crisis. Clow’s article focuses on consideration of a reverse mortgage for an individual or couples. “You essentially get a loan from a lender, often in the form of a monthly payment during retirement years, with your home as collateral,” Piershale explains.
Financial Advisor magazine, October 7, 2019
Jeff Stimpson includes Ben Barzideh, wealth advisor at Piershale Financial Group, in a Financial Advisor magazine article about taxes on investment income. Barzideh shares that while investment interest expense is deductible, it's not impactful for most people. "A very small percentage of people purchase investments using margin, so the deductibility of interest expense is not that relevant. Second, you have to itemize to show that expense, and with the new tax law and the standard deduction doubling, around 90% of Americans will now be taking the standard deduction," says Barzideh.
Kiplinger.com, September 27, 2019
Mike Piershale, president at Piershale Financial Group, contributes a byline to Kiplinger that details how investors who have experienced a financial setback close to retirement can recover. He says the first step to financial recovery is to face the reality of the situation, "this may be easier said than done, especially when you'd rather avoid the anxiety and guilt from facing up to the reality that you are not financially prepared. However, this is necessary to give you the motivation and discipline to follow through."
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LifeHacker, September 30, 2019
The Wall Street Journal, September 19, 2019
Ben Barzideh, wealth advisor at Piershale Financial Group, is included in Jessica Menton's The Wall Street Journal article about stocks losing gains but still being close to their records. Barzideh provides insight on the technology sector during the trade war. "Semiconductor stocks have more risk because they're exposed to China, but if we're going to forecast a positive trade outcome in the next few months, I think that's an area that will surge," explains Barzideh.
ETF Trends, September 19, 2019
Max Chen quotes a Wall Street Journal article featuring Ben Barzieh, wealth advisor at Piershale Financial Group, in an ETF Trends article about investors waiting on trade talks. "Semiconductor stocks have more risk because they're exposed to China, but if we're going to forecast a positive trade outcome in the next few months, I think that's an area that will surge," says Barzideh
The Wall Street Journal, August 22, 2019
Matt Nadeau, wealth advisor at Piershale Financial Group, is included in Jessica Menton and Caitlin Ostroff's article from The Wall Street Journal about global stocks wavering. Nadeau explains why all eyes are on the minutes that were recently released from the Federal Reserve's last policy meeting. "The market is looking for reassurance from the Fed that more rate cuts could be coming," says Nadeau.
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ETF Trends, August 22, 2019
Morningstar, August 22, 2019
Yahoo! Finance, August 5, 2019
Brian Sozzi includes Mike Piershale, president of Piershale Financial Group, in an article about the stock selloff after China devalued its yuan. Piershale says despite the selloff there are reasons to remain optimistic, "we won't re-test the December lows," says Piershale.
Acorns Grow magazine, July 31, 2019
Ben Barzideh, wealth advisor at Piershale Financial Group, is quoted in an article by reporter Nancy Mann Jackson from Acorns Grow magazine. The piece looks at active vs. passive investing techniques, and the recent trend over the last decade of investors moving billions of dollars out of active funds and into passive. “Individual active investors who pick their own stocks and try to predict where the market will go often end up buying and selling at the wrong times and losing money,” he explains.
Financial Advisor magazine, July 22, 2019
Reporter Ben Mattlin of Financial Advisor magazine features Matt Nadeau, CFA, wealth advisor at Piershale Financial Group, in an article about helping a client with new tax law complexities. The article looks at the anecdote of a business owner client and how the 2017 Tax Cuts and Jobs Act was impacting some of his planning strategies. Nadeau weighs in on his solution, which incorporated moving a portion of the retirement savings into a 401(k) Roth account.
Financial Planning, July 18, 2019
For Financial Planning’s daily “Retirement Scan” roundup, editors include Mike Piershale’s recent Kiplinger article as one of four industry thought leadership pieces that are highlighted. The article weighs in on how certain tax law increases could impact heirs of inherited IRAs.
Mike Piershale, president at Piershale Financial Group, pens a byline for Kiplinger that details how the Tax Cuts and Jobs Act could impact children and grandchildren inheriting traditional IRAs. Piershale weighs in on the tax rates of required distributions, which now could be higher for heirs. "A kiddie tax, as it is better known, is imposed on a child's investment income above an exemption amount, which was $2,100 in 2018, and is $2,200 in 2019," he says.
Chicago Tribune retirement newsletter, July 1, 2019
Reporter Ed Avis of the Chicago Tribune retirement newsletter, Retire Ahead, includes Mike Piershale, president at Piershale Financial Group, in an article about municipal bonds. Piershale says it's better to buy bonds as a fund as opposed to individual bonds. "An advantage of buying a bond mutual or bond ETF is that it will have 300 to 400 bonds in it so the risk is reduced a lot. And the bond ETF trades on the stock exchange so I can sell it at any time of the day and I know I'll get the market value," says Piershale.
Ben Barzideh, wealth advisor at Piershale Financial Group, joins the hosts of Yahoo! Finance to discuss how low interest rates impact investors and look ahead at what the Federal Reserve will do. "All the major central banks around the world have recently gone back into stimulus mode. I think that the Fed at their meeting next week pretty much teed up interest rates to come sooner than later. They were about as dovish as you can get. For right now, the two major points of conflict for the stock market are the trade war with China and the Fed. Right now with a lot of leading economic indicators going back down again, I think a lot is being put on the Fed to come and save the day and I think we're going to get that," says Barzideh.
TD Ameritrade Network, June 25, 2019
Matt Nadeau, CFA, wealth advisor at Piershale Financial Group, appears on TD Ameritrade Network to talk with host Oliver Renick about market direction and short-term sector outlook. Matt touches on the healthcare sector and whether that is a solid portfolio position for investors. "Healthcare has been behind the curve and the lowest performing sector, and while there could be some volatility, it might provide investors with an undervalued opportunity," he explains.
Chicago Tribune retirement newsletter, June 1, 2019
Reporter Ed Avis of the Chicago Tribune retirement newsletter, Retire Ahead, includes Mike Piershale, president at Piershale Financial Group, in an article about government bonds being a part of one's portfolio. Piershale says ETFs are his favorite vehicle for holding bonds. "The biggest advantage is the diversity, and the ETFs are put together by professionals. Plus, we can sell an ETF at any time of day and I know I'll get the market value," says Piershale.
Mike Piershale, president at Piershale Financial Group, contributes a column to Money Inc. that details how pre-tax retirement accounts are significantly different from other assets. “Understanding these differences is the first step to protecting yourself from triggering unnecessary taxes and penalties,” says Piershale.
US News & World Report, May 24, 2019
Reporter Rodney Brooks of US News & World Report quotes Mike Piershale, president of Piershale Financial Group, in an article about parents financially supporting their boomerang children, and how it can impact their own retirement. Piershale suggests that parents run a cost analysis before the child moves back home. "Write down costs you expect to incur as a result of having an extra person in the house, and share it with your child. If a kid moves in, see if you can afford it without becoming destitute," Piershale explains.
Mike Piershale, president at Piershale Financial Group, contributes a byline to Kiplinger focusing on the taxes that many people have to pay unnecessarily if they inherit an IRA. “Tracking IRA basis is necessary to determine accurate taxation of eventual IRA withdrawals,” he says. “If basis is not kept track of, then withdrawals that should have been tax free can end up being taxed, meaning these funds will be taxed twice.”
U.S. News & World Report, April 23, 2019
Rebecca Lake from U.S. News & World Report quotes Matt Nadeau, wealth advisor at Piershale Financial Group, in an article about the impact a 60/40 asset allocation may have on an investor. "This model doesn’t perform well during the up years in the market due to the drag on performance by the 40% bond allocation,” says Nadeau.
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Considerable.com, April 9, 2019
Reporter Rodney Brooks at Considerable.com quotes Mike Piershale, president at Piershale Financial Group, in an article about healthcare costs in retirement. "While planning for future healthcare costs may seem like a near-impossible goal, there's no need to upend your retirement plans. Your best bet is to continue to sock away money in your tax-free accounts," Piershale explains.
Financial Advisor magazine, April 2019 Issue
Reporter Ben Mattlin of Financial Advisor magazine quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about the increasing number of retirees who are opting to launch a business during their golden years. "Sometimes it's best for people to stay within their niche, or at least a related field," Barzideh explains. "We don't recommend people start a business that requires a lot of capital investment or one you have little knowledge about."
Financial Planning, April 3, 2019
Reporter Donald Korn of Financial Planning magazine quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about variable and fixed index annuities with guaranteed lifetime withdrawal benefits, which have gained sales traction over the last year. Barzideh explains his preference and says, "Some GLWB riders guarantee lifetime income for the duration of one spouse's life while others have a joint and survivor payout option. We like GLWB riders that allow for spousal continuation of the rider values if one spouse passes away."
Ben Barzideh, wealth advisor at Piershale Financial Group, weighs in on the dovish Fed and concerns about economic growth. “There’s definitely a world-wide slowdown. So I think where the Fed may have gotten it wrong was overestimating the growth we would have from the tax cuts and underestimating the consequences of the trade war,” he explains.
Kiplinger.com, February 6, 2019
Mike Piershale, ChFC, president of Piershale Financial Group, pens a byline for Kiplinger.com that tackles the issue of organizing old 401(k)s and IRA accounts. Piershale explains that while tedious, rounding up all accounts into just one or two can really simplify someone’s financial life. “By combining these accounts, you can save time and money, and make your life more stress-free,” he says.
Wall Street Journal, February 4, 2019
Jessica Menton of The Wall Street Journal includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article discussing how changes in the energy sector impact investors. "I've been advising clients to add exposure to energy and emerging-market stocks — two areas that would benefit from a drop in the U.S. dollar," he explains.
US News & World Report, February 1, 2019
Reporter Rodney Brooks of US News & World Report quotes Mike Piershale, ChFC, president of Piershale Financial Group, in an article about how retirees can maximize steady income streams during their golden years. Piershale explains how he works with clients to create plans to gradually spend retirement savings. "We use mutual funds or ETFs that are well diversified. Instead of paying 3 or 4 percent in fees like an annuity, the client pays 9/100ths of a percent," he explains.
U.S. News & World Report, January 18, 2019
Rodney Brooks of U.S. News & World Report includes Mike Piershale, ChFC, president of Piershale Financial Group, in an article discussing how retirees should be cautious when withdrawing from retirement accounts. "When you're dealing with a pre-tax accounts, especially accounts like a 401(k), 403(b) or IRA, we tell clients, 'Don't touch it until you call us.' If you handle it wrong, you can trigger unnecessary tax losses," he explains.
Wall Street Journal, December 28, 2018
Jessica Menton of the Wall Street Journal includes Ben Barzideh, wealth adviser at Piershale Financial Group, in an article about the recent volatility in the stock market. Although the market has been rebounding, the rise in interest rates from the Federal Reserve may still have an impact on the markets. "If we can get some strong data that the economy is doing well, than the Fed raising rates won't be as much of a concern. But if some of the data disappoints, that could add to concerns that the economy is peaking," he says.
Yahoo! Finance Midday Movers, December 20, 2018
Ben Barzideh, wealth advisor at Piershale Financial Group, joins Yahoo! Finance "Midday Movers" and chats with host Julie Hyman on the Fed's recent decision to raise rates. Barzideh questions the Fed's move, and offers that they should have been more dovish. "The market was looking for more solace, and maybe expected no rate hike. If the Fed overshoots, and they get it wrong, they can send the economy into a recession. We'll be looking at a lot of indicators and data over the next quarter to see that the Fed did the right thing," Barzideh says.
Consumer Reports, December 20, 2018
Ben Barzideh, wealth advisor at Piershale Financial Group, is quoted in an article by Beth Braverman of Consumer Reports. The piece touches on how to properly gift large sums of money this holiday season. Barzideh reminds readers to, "Plan for yourself first, and then, within that structure, if you can help family members, that's great."
U.S. News & World Report, December 11, 2018
Susannah Snider of U.S. News & World Report includes Mike Piershale, president at Piershale Financial Group, in an article discussing illegal tax mistakes people make. Not reporting all income is a common mistake people make, especially if they are receiving a cash payment for a service. "You could run into big problems later if you try to deposit large amounts of cash into a bank," he says.
Kiplinger.com, November 28, 2018
Mike Piershale, president at Piershale Financial Group, pens an article for Kiplinger that weighs in on Medicare Part D costs and deductibles for 2019. For seniors who are reviewing their drug coverage plans during annual enrollment, Piershale explains the importance of understanding all elements of these plans. "As daunting as making decisions on Medicare Part D may seem, if you are armed with basic information, you can find the plan that's right for you," he offers.
TD Ameritrade Network, November 2, 2018
Ben Barzideh, wealth advisor at Piershale Financial Group, appears on TD Ameritrade Network to provide his market outlook and what sectors may be poised for growth. "Right now in our portfolios we're avoiding internationals because they've had continuing weakness. One sector we really like is health care. It took a couple years off between 2015 and 2016, but prior to that it was the number one sector for a long time and I think that's going to return," he says.
The Daily Herald, October 28, 2018
The Daily Herald highlights the newly built Piershale Financial Group office in Barrington. The wealth management firm recently hosted an open house to provide clients with the opportunity to speak with members of the Piershale Financial team and tour the new office space.
U.S. News & World Report, October 19, 2018
Ben Barzideh, wealth advisor at Piershale Financial Group, is included in an article by reporter Rebecca Lake about how investors can remain confident during times of market volatility and what those market changes mean for their investments. "It's just a sign that there are some short-term scenarios or events that the stock market is trying to price in," he says.
Kiplinger.com, October 2, 2018
Mike Piershale, president at Piershale Financial Group, is included in a slideshow from Kiplinger that debates whether parents should treat children equally in their will. Piershale advises his clients to love their children equally, and as such treat them uniquely, which means that in estate planning, it might not mean dividing assets equally. "Consider each child's unique situation and come to an intentional decision about what and how much to give them," he says.
U.S. News & World Report, September 28, 2018
Debbie Carlson of U.S. News & World Report includes Mike Piershale, president at Piershale Financial Group, in an article discussing active vs. passive investing trends in the current market environment. "We use passive index ETFs; we just love them and our clients love them," he says.
Kiplinger.com, September 21, 2018
Mike Piershale, president at Piershale Financial Group, contributes a byline to Kiplinger on the topic of caring for aging parents and how to have important - albeit difficult - conversations. Seniors and adult children should have frequent conversations about future plans, but how does someone know when the time is right? "Look for indicators like failure to take medication, new health concerns, diminished social interaction, general confusion or even fluctuations in weight gain," explains Piershale.
Mike Piershale, president at Piershale Financial Group, pens an article for Kiplinger weighing in on the benefits of downsizing in retirement. If an investor decides to sell their home prior for retirement, it's crucial for them to take any commissions, fees and other costs into consideration. "One benefit of downsizing early in retirement is that mortgage payments and other related expenses, such as utilities and real estate taxes, could decrease, presuming that you're downsizing to save money," Piershale says.
Financial Advisor Magazine, July 13, 2018
Ben Matt of Financial Advisor Magazine includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about the impact health problems can have on a client's portfolio or retirement plan. "Taking a practical and proactive approach to potential health care costs can give someone peace of mind and flexibility. Just showing family members that there are funds in place to help alleviate the financial costs can be a breath of fresh air," Barzideh explains.
US News & World Report, July 10, 2018
Reporter Rodney Brooks of US News & World Report quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about buying a retirement "dream home," and the financial considerations that individuals and couples must think about. "While it may seem great to live out retirement in a sunny state, it may not be as glamorous as you think," Barzideh explains. "We've seen people move, and they become bored and miserable and want to come back. They sell the home, sometimes at a loss."
U.S. News & World Report, July 5, 2018
Debbie Carlson of U.S. News & World Report includes Mike Piershale, president at Piershale Financial Group, in an article discussing rules about investing in retirement. "Sometimes you'll see an investment that has a high dividend, but if you look at the total return in the last 12 months, it's underwater. That ultimately hurts retirees," he says.
U.S. News & World Report, June 21, 2018
Maryalene LaPonsie of U.S. News & World Report includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article discussing if an early retirement helps individuals live longer. "I think it's a little more complicated than just retiring early. The circumstances under which someone retires, their health and how they spend their time after leaving the workforce could all contribute to a person's longevity," Barzideh explains.
U.S. News & World Report, June 2, 2018
Rodney Brooks at U.S. News & World Report includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article discussing topics pre-retirees should discuss with their children prior to entering their golden years. "It's beneficial to talk about which child will be executor. The child who will do the most of caretaking, it's not uncommon for parents to leave more to that child," Barzideh says.
U.S. News & World Report, May 24, 2018
Mike Piershale, president of Piershale Financial Group, is included in reporter Debbie Carlson's piece providing places investors can put money in the short-term while still earning interest. One option is to place their funds in floating-rate funds. "You do get a higher level of income when rates start going up because it's a short-term variable rate," Piershale says.
Mike Piershale, president at Piershale Financial Group, contributes an article to Kiplinger that weighs in on individuals overlooking their required minimum distribution. Piershale explains that for those in retirement who forget to take, or miscalculate, their RMD, there could be costly penalties. "If you catch your mistake sooner rather than later and promptly take the proper action, this is one penalty that you can usually avoid. The IRS has the authority to waive the 50 percent RMD penalty when the shortfall is due to a reasonable error," Piershale says.
Mike Piershale, president at Piershale Financial Group, is included in Anna Jackson's NerdWallet.com article discussing steps individuals can take to ensure a successful retirement. "The biggest single thing people can do today is to start saving more money," he says.
Mike Piershale, president at Piershale Financial Group, joins Bloomberg Radio host Carol Massar to discuss growth-oriented companies that investors might look to over the long-term. He weighs in on the technology sector and says, “The sector has been volatile, but we’re bullish there. Between companies like Google, Apple, Intel and others, there is a great sense of entrepreneurial competition between them.”
Investopedia.com, April 23, 2018
Reporter Mark Kolakowski contributes an article to Investopedia.com about the banking sector, and the signs pointing toward slowing growth in that part of the industry. Kolakowski pulls quotes from Ben Barizdeh, wealth advisor at Piershale Financial Group, who discussed a similar theme regarding bank stocks in a recent Barron’s article.
Evie Liu, a reporter at Barron’s, includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about bank stocks amid the recent earnings season. While the reports have been positive, many of the bank stocks posted declines in the wake of earnings results. “The market has not been impressed because the reasons for the earnings beat are of low quality, such as tax benefits or one-off boosts,” Barzideh explains.
Mike Piershale, president at Piershale Financial Group, is quoted by Bankrate reporter Amanda Dixon, in an article about the bond and debt market changes that occur in a higher interest rate environment. “Whether you’re partial to CDs or bond funds, you’re likely better off staying short and avoiding long-term investments in a rising interest rate environment,” Piershale says.
GoBankingRates.com, March 22, 2018
Ben Barzideh, wealth advisor at Piershale Financial Group, is included in reporter Cameron Huddleston's piece on ways not to spend your tax refund. "I've seen people not only blow all of their tax refund in Vegas, but also play on credit and lose, which means they return from Vegas with a debt to pay off in addition to blowing their tax refund," Barzideh says.
Ben Barzideh, wealth advisor at Piershale Financial Group, is quoted by Barron's reporter Jon Swartz in an article about Sheryl Sandberg's apology in regards to the Facebook data breach. "Given their business model of vast reach, some 2.13 billion monthly active users, they need to do a much better job of policing their platform," Barzideh explains.
Financial Planning, March 19, 2018
Reporter Andrew Welsch at Financial Planning includes Mike Piershale, president at Piershale Financial Group, in an article about the recent federal court decision to vacate the fiduciary rule, and what it means for the future of the industry. "There were so many people that were convinced it was going to pass that people were making changes already, just like we made changes," Piershale says.
Mike Piershale, president at Piershale Financial Group, pens a byline for Kiplinger.com that provides insight on how remarriage can impact Social Security benefits. Piershale explains that if someone decides to get married for the first time as they near retirement, their nuptials won't impact Social Security. However, individuals who are divorced and enter into a new marriage will no longer be eligible for ex-spousal benefits. "The lesson to be learned is that seniors considering marriage need to plot out their strategy carefully when it comes to claiming Social Security, even if it means in some cases delaying your wedding day, or your divorce," he says.
Northwest Herald, February 11, 2018
Mike Piershale, president of Piershale Financial Group shares this article, Miss RMD from IRA and face a 50 percent penalty. “If you fail to remove this mandatory distribution by the Dec. 31 deadline, you will owe a 50 percent penalty. Thankfully, if the mistake is caught and proper action is taken, this is one penalty that you can usually avoid” he says.
TD Ameritrade Network "Markets on Close," February 7, 2018
During a segment for TD Ameritrade Network's "Market on Close," host Oliver Renick chats with Ben Barzideh, wealth advisor at Piershale Financial Group, about value-oriented stocks. Given the volatility of the recent market, Barzideh offers his take on whether these investment moves should be considered for short or long-term portfolio plays.
Mike Piershale, president at Piershale Financial Group, is quoted by CNBC.com reporter Lorie Konish in an article that discusses how marriage can impact Social Security benefits. Piershale provides insight on the importance of survivor benefits. If a couple gets married in their late 50s and one of them had a previous spouse that passed away, they're no longer eligible for survivor benefits. "If they had just waiting until 60 to get married, they could have gotten a survivor benefit," he says.
TD Ameritrade Network, “Markets On Close,” January 12, 2018
Ben Barzideh, wealth advisor at Piershale Financial Group, returns to TD Ameritrade Network to discuss his outlook on the market. During his conversation with host Oliver Renick, Barzideh explains his thoughts on stocks within the services sector, and what investors should keep in mind over the short- and long-term with investments in this space.
TD Ameritrade Network, “Morning Trade Live,” January 4, 2018
Ben Barzideh, wealth advisor at Piershale Financial Group, appears on TD Ameritrade Network’s “Morning Trade Live” with host Oliver Renick to discuss the latest market movements. During the segment, Barzideh weighs in on small caps and why the sector may rally in 2018. “Over the next few months, small caps could lead the way. They are discounted compared to their true value, and could benefit from corporate tax reform.”
Kiplinger.com, December 18, 2017
Mike Piershale, president at Piershale Financial Group, pens a byline for Kiplinger.com that reviews how employees can best invest in company stock. Piershale details the ins and outs of lesser-known strategies, and the tax benefits that come with these plans. “Keep in mind, that it can be a temptation to invest too heavily in your own company’s stock, because of either tax advantages or discounts,” he cautions. “This always has to be weighed against the risk of having too much concentration in one stock, subjecting you to losses if your company goes bankrupt.”
Investor's Business Daily, December 18, 2017
Reporter Paul Katzeff at Investor's Business Daily includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about steps that individuals can take to save money on their taxes before year-end. "Charitable clients that are age 70 1/2 or older are allowed to give up to $100,000 a year from traditional IRA to a qualified charity," Barzideh says.
Northwest Herald, December 15, 2017
Mike Piershale, president of Piershale Financial Group shares this article, The Santa Claus Rally. “According to the 2018 Stock Trader’s Almanac, from 1969 to 2016, the Santa Claus Rally has yielded positive returns in the stock market in 36 of the past 48 holiday seasons. The average cumulative return over these seven days is 1.3 percent” he says.
Northwest Herald, December 1, 2017
Mike Piershale, president of Piershale Financial Group shares this article, Marriage may be better for retirement. “If you're married, federal law requires that your partner’s monthly pension benefit must be set up where at least 50% or more of it continues to you for the rest of your life if they pass away first. If you're not married, you get nothing” he says.
US News & World Report, December 1, 2017
Reporter Maryalene LaPonsie at US News & World Report includes Mike Piershale, president at Piershale Financial Group, in an article outlining top year-end tax tips. "They're talking about almost doubling the standard deduction next year," he says. "Because of that, we've been talking with our clients about maximizing itemized deductions this year."
Northwest Herald, November 3, 2017
Mike Piershale, president of Piershale Financial Group shares this article, 3 Golden Opportunities for Investing in Company Stock. “Unless your company stock has poor fundamentals, it's pretty hard to beat a 15 percent return on your money before you even get started. This is because in most cases, Employee Stock Purchase Plans allow employees to buy their own company stock at a 15 percent discount from its current price” he says
CBS MoneyWatch, October 23, 2017
Reporter Jillian Harding of CBS MoneyWatch quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article outlining what individuals can do with a 401(k) when they change jobs. "When you get a new job, some employers may want you to work there for a year before you are eligible for a 401(k) plan. And you often have to work there for three years to get that 6 percent or 4 percent employer match. They try to restrict some of the company plan benefits [to create an incentive for loyalty]," Barzideh offers.
Northwest Herald, October 22, 2017
Mike Piershale, president of Piershale Financial Group shares this article, Coordinating spousal Social Security benefits. “Thanks to spousal and survivor benefits, a spouse who has little or no work history can receive Social Security benefits based on their current spouse, ex-spouse, or deceased spouse's work record” he says.
Kiplinger.com, October 17, 2017
Mike Piershale, president at Piershale Financial Group, pens an article for Kiplinger.com that details the ins and outs of health savings accounts. Piershale explains how opening an HSA can have a triple tax advantage. For those who qualify, HSA contributions can be tax-deductible, interest and earnings grow tax-deferred, and distributions are tax-free when used for qualified medical expenses.
Northwest Herald, September 24, 2017
Mike Piershale, president of Piershale Financial Group shares this article, Avoiding penalties on company retirement plans. “If you’ve reached age 55, you can take penalty free withdrawals from your 401(k) plan after leaving your job if your employment ends during or after the year you reach age 55. For example, if someone retires at age 55 and wants to pay off their mortgage with part of their 401k plan they can do it without triggering a 10 percent penalty” he says.
DailyWorth.com, September 14, 2017
Reporter Nancy Mann Jackson of DailyWorth.com quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about eliminating financial-related stress. Barzideh explains that creating a budget can go a long way to help. "Look at your current situation and analyze the cash flow that comes in and the cash flow leaving," Barzideh says. "Then build goals for the future and fill in assets and growth assumptions. The plan will be a blueprint for how much you will need to live comfortably now and in retirement."
US News & World Report, September 5, 2017
Ben Barzideh, wealth advisor at Piershale Financial Group, offers his insight in a US News & World Report article by reporter Rebecca Lake. The piece outlines three factors that can threaten the size of an individual's Social Security check. "Taking benefits while still working means in most cases, you may have to pay some of those benefits back to Social Security," he says.
Reporter Tanya Agrawal at Reuters includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about the unexpectedly strong US economic growth data, which has outweighed North Korea concerns. "Tax reform has been one of the biggest reasons for the rally and I think it is going to go through," he says.
Student Loan Hero, August 28, 2017
Reporter Andrew Pentis at Student Loan Hero quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about saving for a down payment on a house. "Since a Federal Housing Administration loan only requires you put down 3.5 percent of the value of the home for down payment, the $20,000 maximum withdrawal of a traditional IRA should more than cover it," Barzideh offers.
US News & World Report, August 9, 2017
Reporter Debbie Carlson from US News & World Report includes Mike Piershale, president at Piershale Financial Group, in an article discussing investor mistakes and how to correct them. "Study after study shows that rebalancing keeps your money safer," he says.
Northwest Herald, August 6, 2017
Mike Piershale, president of Piershale Financial Group shares this article, Here’s a way to increase your retirement savings. “Even if you stay healthy well into retirement, at age 65, the money in an HSA can be used to help pay Medicare premiums tax-free or be withdrawn as a taxable distribution for any non-medical purpose similar to an IRA distribution” he says.
Mike Piershale, president at Piershale Financial Group, pens a byline for Kiplinger.com detailing the benefits of small business owners offering a Simple IRA plan to employees. "There is a reason why it's called 'simple,'" Piershale says. "It's as easy to open as an IRA, with larger contribution limits, and opening this plan will not prohibit you from investing in a personal IRA."
Reporter Keris Lahiff from TheStreet quotes Mike Piershale, president at Piershale Financial Group, in an article about the current state of the market and the monetary policy announcement by the Federal Reserve. "There's getting close to zero chance of the Fed raising rates before December. We do have some concern about that causing volatility, and it's such unprecedented territory," explains Piershale.
Northwest Herald, June 23, 2017
Mike Piershale, president of Piershale Financial Group shares this article, What comes next? Bull, bear, correction? “Some believe this bull market will plod ahead, while others believe a bear may be prowling. Often, these beliefs reflect specific aspects of the market” he says.
Reporter Juliette Fairley from InsuranceNewsNet’s Advisor News quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about advisors’ optimism over Emmanuel Macron’s election as the President of France, and the impact it will have on the Euro. “Some industries will be vulnerable as the weak Euro has helped European exports, and a rising Euro could cause a shift for investors to invest in more defensive segments of the Eurozone,” says Barzideh.
Northwest Herald, June 9, 2017
Mike Piershale, president of Piershale Financial Group shares this article, Don’t make these retirement mistakes. “Focusing on your nest egg to the exclusion of all else: The lesson here is while the need to grow your nest egg is critical, you cannot focus only on finances and neglect the most important part of later life” he says.
US News & World Report, June 5, 2017
Ben Barzideh, wealth advisor at Piershale Financial Group, is included in Emily Brandon’s US News & World Report article discussing sources of retirement income. Barzideh provides his insight on inheritances. “Plan on getting less than the expected amount by 25 to 33 percent, or factor in getting the inheritance three to five years after the life expectancy of your parents in case they end up living longer than anticipated and pushing out the date for when you would receive the inheritance,” he says.
Mike Piershale, president at Piershale Financial Group, contributes an article to Kiplinger.com that touches on proactive strategies that individuals can consider to lower Social Security taxes. “The key to reducing this tax is to eliminate or shelter the interest and dividends on your tax return from investments that are making your provisional income number higher,” Piershale explains.
Mike Piershale, president of Piershale Financial Group shares this article, A Simple Idea to Save Taxes. “If you are a small business owner, you may want to consider a very popular small business company retirement plan called a “SIMPLE IRA.” There is a reason why it is called “simple.” It’s about as easy to open as an IRA, with larger contribution limits, and opening this plan will not prohibit you from buying a personal IRA” he says.
Northwest Herald, April 2, 2017
Mike Piershale, president of Piershale Financial Group shares this article, Stay At Home Parents Can Qualify for Social Security Benefits. “If you are a married person with little to no earnings history you can receive a benefit equal to half of your spouse’s Social Security” he says.
Mike Piershale, president at Piershale Financial Group, pens an article for Kiplinger.com about the ins and outs of stay-at-home parents qualifying for Social Security benefits. Piershale provides a few rules and restrictions around who can qualify and also dives into different scenarios, such as how the rules apply for those who may be widowed, divorced, etc.
Ben Barzideh, wealth advisor at Piershale Financial Group, is quoted in an article by Maya Kachroo-Levine at Forbes.com highlighting the financial talks that individuals should have at each stage of a relationship. “One of the most critical components of a successful relationship is communication, which absolutely pertains to finances. It’s very important to create an accurate snapshot of your current financial situation,” Barzideh says.
US News & World Report, March 24, 2017
Reporter Maryalene LaPonsie at US News & World Report quotes Mike Piershale, president at Piershale Financial Group, in an article about how to put your tax refund to good use. “If you’re continually getting a tax refund, it may seem fun or psychologically rewarding, but you’re really just giving the IRS an interest-free loan. The best course of action may be to change your tax withholding so you can receive bigger paychecks all year long instead of getting a windfall in the spring,” he says.
Northwest Herald, March 19, 2017
Mike Piershale, president of Piershale Financial Group shares this article, A Look at Proposed Tax Changes. “With Donald Trump now the 45th President and the Republicans controlling the House and Senate, many tax professionals feel we are likely to see a number of tax changes in the year ahead if his campaign plans and promises hold” he says.
Reporter Fred Imbert includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article outlining the Dow’s 12-day winning streak prior to Trump’s speech to Congress. “A lot of this has been built on expectations about Trump’s policies, but nothing has happened yet. We do expect him to elaborate a bit,” Barzideh says.
Investor’s Business Daily, February 17, 2017
Morey Stettner of Investor’s Business Daily quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about how advisors can properly and effectively manage a spendthrift client who might be struggling to pay down debt. “Most people already know the things they should do, so you have to present it to them in a sensitive manner,” says Barzideh. “You don’t
Mike Piershale, president at Piershale Financial Group, contributes a byline to Kiplinger about the Goldilocks Zone, where from 65 to 70 years old, retirees can take advantage of being in a lower tax bracket to cut their taxes through the use of tax bracket Roth conversions. “The idea is to pull money out of your pre-tax IRA while you’re in a lower tax bracket and convert it to a Roth IRA,” he says.
Northwest Herald, February 5, 2017
Mike Piershale, president of Piershale Financial Group shares this article, Welcome to the Goldilocks Zone. “The idea is to pull money out of your pre-tax IRA while you're in a lower tax bracket like the 15% bracket, and convert it to a Roth IRA. You'll lose 15 cents on the dollar in taxes when you do the conversion, but it may save you taxes in the long run” he says.
Grow magazine, January 10, 2017
Ben Barzideh, wealth advisor at Piershale Financial Group, is featured in an article by Grow magazine reporter Nancy Mann Jackson discussing the ins and outs of market timing. Barzideh explains that market timing is a technique that often does not work for investors effectively. “Without a crystal ball, it’s hard to do it successfully,” he says. “A better strategy is buy-and-hold and to use a diversified portfolio. This shelters investors from mis-timing the market because you are always invested and always have exposure to various asset classes.”
Northwest Herald, January 2, 2017
Mike Piershale, president of Piershale Financial Group shares this article, The stock market’s early warning system. “There have been 40 up Januaries out of 66 since 1950. Thirty-six of them ended the year with a positive return. This means that over this time period, 90 percent of the time when the S&P 500 is up in January, it ended the year with a positive return” he says.
Grow magazine, December 30, 2016
Ben Barzideh, wealth advisor at Piershale Financial Group, is quoted in an article by Grow magazine reporter Nancy Mann Jackson about active vs. passive investing trends. The article primes readers on the ins and outs of each style, and Barzideh explains why a passive technique usually outperforms an active one. “Investors who try to predict where the market will go often end up buying and selling at the wrong times and losing money,” he says.
Mike Piershale, president at Piershale Financial Group, contributes a byline to Kiplinger that details the ins and outs of gifting stock to a charity. For investors with highly-appreciated stock in a non-retirement account, the strategy can have solid tax advantages if completed before year-end. As an added benefit, Piershale explains that the organization accepting these donations will not be penalized from a tax standpoint. “Qualified tax-exempt organizations don’t have to pay tax when they sell an appreciated asset,” he says.
Consumer Reports, December 8, 2016
Ben Barzideh, wealth advisor at Piershale Financial Group, is quoted in reporter Beth Braverman’s recent Consumer Reports article about the tax and financial implications of giving money gifts for the holidays. “We advise that you make sure to plan for yourself first, and then if you’re able to help family members, that’s great,” he says.
Financial Planning, December 2, 2016
Donald Korn of Financial Planning quotes Mike Piershale, president of Piershale Financial Group, in an article highlighting smart tactics that charitably inclined clients should consider when making donations. “Assets left to beneficiaries in a pre-tax retirement account such as an IRA will be taxed as ordinary income when they take distributions,” he says. “Advisors should help clients minimize assets left in such accounts, as long as that doesn’t reduce the amount that the heirs would otherwise receive.”
Northwest Herald, November 11, 2016
Mike Piershale, president of Piershale Financial Group shares this article, What Makes Retirement Accounts Different? “Retirement accounts like an IRA or a 401k plan are significantly different from your other assets and understanding these differences is the first step to protecting yourself from triggering unnecessary taxes and penalties” he says.
Money magazine, November 3, 2016
Elizabeth O’Brien of Money magazine quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about spouses working together to align their retirement goals. Barzideh explains that couples should request their advisor perform a retirement cash flow analysis so they understand their future projections. “It helps couples understand what they can afford to spend in retirement, based on their current situation and assumptions about future market returns, the client’s lifespan, Social Security, and other factors,” he says.
Money magazine, October 20, 2016
Money magazine reporter Elizabeth O’Brien features Mike Piershale, president at Piershale Financial Group, in an “Ask the Expert” column focusing on 401(k) and 403(b) withdrawal rules. Piershale explains the ins and outs of penalties associated with each retirement account if someone were to withdraw the funds early.
Mike Piershale, president at Piershale Financial Group, contributes an article to Kiplinger that details how the upcoming presidential election could impact the stock market this year. Piershale explains that between high PEs, the recent bearish outlook, and the track record for stocks in the eighth year of a presidential term, investors may see added volatility around the election.
US News & World Report, September 16, 2016
Mike Piershale, president at Piershale Financial Group, appears in reporter Maryalene LaPonsie’s US News & World Report article, weighing in on how Social Security plays a role in retirement. Piershale offers that he isn’t concerned that Social Security will dry up for current seniors, but worries for younger generations.
TheStreet.com, September 14, 2016
Reporter Ellen Chang of TheStreet.com quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about IRA funding rules. The article highlights the ins and outs of funding an account when one spouse is unemployed. “You can fund an IRA if you don’t work, as long as the other spouse has enough earned income to cover your contribution,” says Barzideh.
Financial Planning, September 9, 2016
Donald Korn of Financial Planning quotes Mike Piershale, president at Piershale Financial Group, in an article about succession plans, and the importance of having a transition strategy in place. Piershale offers his succession plan and explains some of the long-term steps that his office is already taking into consideration, such as having key executives take leadership courses.
Kiplinger.com, September 2016 Issue
Reporter Rachel Sheedy quotes Mike Piershale, president at Piershale Financial Group, in an article about the upcoming mid-October deadline for reversing a 2015 Roth IRA conversion. The article offers why an investor might take advantage of this conversion – perhaps to keep taxable income down, or if an account’s overall value has declined. “It’s an amazing tool that people often overlook,” says Piershale.
Money Life Radio, August 16, 2016
Ben Barzideh, wealth advisor at Piershale Financial Group, joins Money Life Radio show host Chuck Jaffe to discuss how the Fed’s quantitative easing program may have set the market up for volatility. “If you look at the date that QE stopped and what the market has been doing since that time, it’s been going sideways,” Barzideh explains. “Once the Fed stopped QE, that’s when we could see cracks in the armor. Investors became aware that there were less steroids in the market and have become more apprehensive to invest in it.”
Northwest Herald, August 7, 2016
Mike Piershale, president of Piershale Financial Group shares this article, Avoiding Costly Retirement Planning Mistakes. “Mistakes can be expensive when it comes to retirement planning. To prevent them it's important to familiarize yourself with the rules or work with a financial planner who is a retirement specialist” he says.
Mike Piershale, president at Piershale Financial Group, contributes an article to Kiplinger about the costliest retirement planning mistakes that individuals often make. He provides insight on missing out on net unrealized appreciation, the error in not having proper beneficiaries on a retirement plan or IRA, and more. “Retirement planning can be a tricky area to navigate because it involves hundreds of rules, and violating them can result in unnecessary taxes and penalties,” he says.
Financial Planning, July 8, 2016
Reporter Donald Korn of Financial Planning quotes Mike Piershale, president at Piershale Financial Group, in an article about the importance of adding a designation for advisors and how it amplifies their work with clients. Piershale weighs in on why he encourages his employees to add such credentials, and the value they have in expanding the firm’s expertise.
This article also appeared at:
http://blogs.wsj.com/moneybeat/2016/07/11/wealth-adviser-daily-briefing-when-the-sp-500-breaks-out-reits-investors-may-get-a-tax-bill/
Northwest Herald, July 3, 2016
Mike Piershale, president of Piershale Financial Group shares this article, Stock Markets and Election Years. “Presidential election years are traditionally good years for the stock market according to the Stock Trader’s Almanac” he says.
Mike Piershale, president at Piershale Financial Group, contributes an article to Kiplinger.com talking about money conversations that newlyweds should have in order to streamline their financial efforts. "One of the biggest contributors to a successful marriage is communication and agreement over finances. Couples should openly discuss their core values and priorities with money," he explains.
Mike Piershale, president of Piershale Financial Group shares this article, How to Contribute to a Roth IRA if You're Retired. "If you are retired and no longer working and your spouse has earned income for 2016, you very likely can put money in a Roth IRA using the working spouses' income." Mike adds, "You might also consider opening a Roth with a small amount of money like $10 just to start the five-year countdown even if you are just thinking about contributing to a Roth" he says.
Sarah Max of Money features Mike Piershale, president at Piershale Financial Group, in an "Ask the Expert" series for the website. Piershale addresses a question from a retired reader who files taxes jointly with his wife, but would like to contribute to a Roth IRA with her income from working. "I recommend this to many of my clients," says Piershale, who notes that Roth IRAs do not have age limits for contributions. "You can take almost any investment that triggers taxable income and hold it in a Roth to avoid paying taxes on that income for the rest of your life."
Mike Piershale, president at Piershale Financial Group, authors an article for Kiplinger.com offering recommendations for spring cleaning finances this season. Piershale explains that now is a great time for investors to get their financial house in order and find ways to save on taxes. Some of the tips he outlines include reviewing and updating estate plans, consolidating accounts where feasible to reduce statements, and determining if investments are tax-efficient.
Ben Barzideh, wealth advisor at Piershale Financial Group, has been included in Tina Orem's USA Today piece about cases where filing taxes separately may be beneficial for couples. "If the spouse that has the health issues is not making a lot of money, but the other spouse is making significantly more... for the one that's not making as much, it might be more advantageous," he states.
Northwest Herald, March 15, 2016
Mike Piershale, president of Piershale Financial Group shares this article, Contributing to Charity? Consider these tips. "First, for it to be deductible, the donation must be made in cash or property. The donation also must be given to a qualified charity as defined by the Internal Revenue Service. And the property or cash contribution must be made before the close of your tax year for it to be deductible" he says.
DailyWorth.com, February 29, 2016
DailyWorth.com includes Ben Barzideh, wealth advisor at Piershale Financial Group, in a retirement-focused article by contributor Nancy Mann Jackson. Offering readers insight on items to consider when withdrawing funds from retirement accounts early, the slideshow includes Barzideh’s commentary on two major items. First, Barzideh explains that when you’re unemployed, you may take penalty-free distributions from an IRA to pay for your medical insurance if you meet eligibility requirements.
Ben Barzideh, wealth advisor at Piershale Financial Group, is included in a piece by Nancy Mann Jackson for the consumer website Grow. The article offers readers advice on building wealth by implementing simple monthly habits. "Getting in the habit of keeping up with your cash flow is an important step to reaching any financial goal, and it's easy with online tools or even old-fashioned spreadsheets," says Barzideh.
Financial Advisor Magazine, February 3, 2016
Financial Advisor magazine contributor Karen DeMasters turns to Mike Piershale, president at Piershale Financial Group, for important insight on required minimum distributions from qualified retirement accounts. If an annual withdrawal is missed a penalty will apply. "We make sure we remind our clients of the required withdrawals before they turn 70," says Piershale.
GoBankingRates.com, January 31, 2016
Mike Piershale, president at Piershale Financial Group, has been included in Lou Carlozo's recent piece, outlining popular tax deductions that individuals may overlook. Piershale offers a real-life example of tax loss harvesting in action.
This article also appeared at:
FoxBusiness, February 23, 2016
Northwest Herald, December 20, 2015
Mike Piershale, president of Piershale Financial Group shares this article, Plan Income Before You Retire. "You might be tempted to wait until after you retire to set up your income, but this might cause your income to be delayed while you're designing it" he says.
US News & World Report, December 4, 2015
Mike Piershale, president of Piershale Financial Group, outlines changes to the file-and-suspend Social Security strategy in reporter Maryalene LaPonsie's recent piece. "The biggest thing we're telling people is the core benefits are not changing. There is no change in any of the math used to calculate benefits," he says.
US News & World Report, November 25, 2015
Mike Piershale, president at Piershale Financial Group, has been included in reporter Jeff Brown's recent piece, outlining the risks of year-end mutual fund purchases. "Many mutual funds are expected to make sizable capital gains distributions this year. Some funds are paying out gains for the simple reason that the securities hit the manager's price targets," he says.
Northwest Herald, November 15, 2015
Mike Piershale, president of Piershale Financial shares this article, Navigating a Retirement Planning Maze. "When saving for retirement, the two primary places where people save their money either is with an employer sponsored retirement plan, such as a 401k, or an individual retirement account (IRA). Did you know there are differences between the plans," Piershale says.
GoBankingRates.com, November 8, 2015
Mike Piershale, president of Piershale Financial Group, is included in reporter Cameron Huddleston's piece for GoBankingRates.com. Detailing seven common financial failures, the article offers tips for overcoming these monetary blunders. When it comes to failing to create an estate plan, Mike offers, "For starters, make sure that you have beneficiaries listed on your financial accounts and that you update those beneficiaries if you get married, divorced, have children or experience any other life event."
Financial Advisor, November 2, 2015
Ben Mattlin of Financial Advisor magazine quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about how advisors can work with clients in distress. During unforeseen disasters or traumatic events, it's critical for advisors to steer a client in the right financial direction. "Move as fast as possible to react to the unexpected situation," Barzideh says. "The window of opportunity to fix a problem or effect change can close."
US News & World Report, October 6, 2015
Kira Brecht of US News & World Report quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article offering readers tips for investing in their 30s and 40s. Barzideh weighed-in on the importance of having an emergency fund, considerations for buying a first home and how to invest in a 529 savings plan. "The nice thing about 529 plans is that the money grows tax-free and comes out tax-free if it's used for qualified college expenses," Barzideh says.
DepositAccounts.com, October 4, 2015
Sheryl Nance-Nash of DepositAccounts.com includes Mike Piershale, president at Piershale Financial Group, in an article about how top earners can contribute to a Roth IRA. Piershale offers an example regarding the Backdoor Roth conversion strategy, explaining that it is only tax-free if the owner does not have any other IRAs.
Northwest Herald, October 4th, 2015
Mike Piershale, president of Piershale Financial shares this article, Consider a retirement planning do-over. “Money rolled to a Roth IRA from an employer plan can also be recharacterized by transferring the money to a Traditional IRA. You generally have until Oct. 15 of the following year to recharacterize,” Piershale says.
USAToday.com, September 30, 2015
Hadley Malcom of USA Today includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about millennials merging finances before marriage. “Disclose how much student loan debt, credit card debt and any other debt you have, because it will affect how you work toward financial goals together. It's also important to discuss your philosophies on debt and the use of credit cards,” he says.
FiscalTime.com, September 5, 2015
DepositAccounts.com, August 23, 2015
Sheryl Nance Nash of DepositAccounts.com quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about auto-IRAs as a strategy to boost American’s retirement savings efforts. With the Obama Administration backing legislation of the effort, Barzideh explains that these strategies are a step in the right direction. “Maybe the government could offer a federal match toward the auto-IRA account on top of the employee’s contribution to motivate people below a certain income threshold,” he says.
Northwest Herald, August 23, 2015
Mike Piershale, president of Piershale Financial Group share this article, Ways to Trim Your Taxes on Social Security. “If you have moderate-to-low income showing on your tax return, and you are generating a lot of taxable interest and dividends from investments where you don’t need that investment income, you might be a good candidate to lower this tax,” Piershale says.
Financial Planning, August 5, 2015
Donald Korn of Financial Planning magazine includes Mike Piershale, president of Piershale Financial Group, in an article about managing estate taxes. In order to protect a married couple from triggering unnecessary state estate or inheritance tax, Piershale recommends that some form of the traditional A/B trust arrangement may be necessary.
US News & World Report, July 16, 2015
Maryalene LaPonsie of US News & World Report includes Mike Piershale, president at Piershale Financial Group, in an article highlighting five things to know before pulling money from a traditional IRA. “When you retire, often people have what I call this ‘window of opportunity’ where they have low income years,” says Piershale. “Those first years of retirement can be the perfect time to convert money from a traditional IRA to a Roth IRA.”
Jeff Reeves of USA Today quotes Mike Piershale, president at Piershale Financial Group, in an article about the importance of individuals creating a will. Piershale weighs in on updating the document amid notable life changes. “Changing circumstances may cause a need to update beneficiaries. This includes if you marry, remarry, have a child or new grandchild, have a divorce, or if a spouse or child dies,” Piershale says.
Northwest Herald, July 5, 2015
Mike Piershale, president of Piershale Financial Group shares this article, Strategizing Taxes in Retirement. “If you’re in a retirement plan (like a 401k) that lets you invest in your company’s stock, you should be aware of something called net unrealized appreciation or NUA, a simple tax reduction strategy with a complicated name.”
Financial Advisor IQ, June 15, 2015
Piershale Financial Group wealth advisor, Ben Barzideh, is featured is Peter McDougall’s piece for Financial Advisor IQ about preventing clients from making bad decisions. Barzideh offers a situation where he had to help a client understand his tactical investment approach. “It’s really emotion that is driving them, and it’s our job as advisors to process that emotion and reply with clear communication and simple facts,” he explains.
Northwest Herald, May 24, 2015
Mike Piershale, president of Piershale Financial Group shares this article, Protecting Money From Sequence of Return Risk. “As an investor, you face another lesser-known risk where not even diversification has provided a consistent track record of protecting your money. This is a risk of investing your money at the wrong time, resulting in the depletion of your assets. We call this the sequence of return risk.”
The Wall Street Journal, May 15, 2015
Veronica Dagher of The Wall Street Journal includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article highlighting the financial risks associated with a divorce. “Lenders don’t let you off the hook just because your divorce settlement states that your ex-spouse will pay them off,” he says. “The best thing to do is pay off all shared debts before the divorce becomes final.”
US News & World Report, May 12, 2015
Mike Piershale, president of Piershale Financial Group, is featured in a US News & World Report article that examines the importance of creating and maintaining a family financial record. “We had a client come in with piles of statements, confirms and canceled checks going back to the 1980s. It makes it really hard for the kids or heirs to find and locate what's important if they leave piles of stuff they don't need,” Piershale says. Creating an organized compilation of important documents for heirs is essential.
ThinkAdvisor.com, May 11, 2015
David LaMartina of ThinkAdvisor.com quotes Mike Piershale, president of Piershale Financial Group, in an article highlighting the importance of estate planning for retirees. “It’s definitely important for everyone, including the middle class,” he says.
Ben Barzideh, wealth advisor at Piershale Financial Group, is featured in an article offering financial advice to new college grads. “An emergency fund of about $1,000 is enough for you,” says Barzideh. “Set a little money aside from any graduation checks you might receive, and add $50 or so a month into a bank account—one that’s separate from your day-to-day account, so you won’t be tempted to raid it for everyday needs.”
Northwest Herald, April 10, 2015
Mike Piershale, president of Piershale Financial Group shares this article, Easy Way to Lower Taxable Income. “We’re going to walk through a simple but effective way to help lower your taxable income” Mike says. “When people come into our office, we examine their tax returns, looking carefully for ways to reduce their taxes. We don’t look at your tax return only once, but every year. 401(k) participation is an example of things we look for.”
DepositAccounts.com, April 13, 2015
Sheryl Nance Nash of DepositAccounts.com quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about couples joining their finances into one account. Barzideh explains the advantages to a joint account, including the lower fees that can be assessed by the bank with one, larger balance.
Jennie Phipps of Bankrate.com includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article that highlights rules for taking money from your IRA or 401(k). “Students can borrow to pay tuition, but you can’t borrow to pay for your retirement,” he says.
Ellen Chang of MainStreet.com quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about boosting your savings with a tax refund. “This is not an investment, but more like insurance. A rainy day fund should come before paying down debt or investing money, because if you lacked emergency money, it would mean that you will most likely go into debt to take care of emergencies that come up,” Barzideh says.
Northwest Herald, March 1, 2015
Mike Piershale, president of Piershale Financial Group shares this article, Protecting Your Money in Divorce. “If mistakes are made during this process and taxes and penalties are involved, things get even more complicated” Mike says. Another common mistake after a divorce is the failure to properly update beneficiary forms.
Nancy Mann Jackson of CNBC.com includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about new IRS provisions for withdrawing savings from an IRA or 401(k) early without incurring a penalty. “Generally, it’s considered not a good idea to pull money out of 401(k)s or retirement accounts early,” says Barzideh. “With any money you pull out, you are also giving up the opportunity cost of what that money would have grown to if you had just left it alone.”
Northwest Herald, February 1, 2015
Northwest Herald announces “The Money Hour” radio show hosted by Mike Piershale, president of Piershale Financial Group. The show will discuss financial planning issues and other topics that Piershale and his team assist with the advisory firm. “There is a genuine need for clear advice on financial planning issues and we are proud to deliver our knowledge and perspective to the audience in Chicago,” Piershale says. “We look forward to offering listeners advice on innovative retirement, investment and estate planning strategies.”
Northwest Herald, January 18, 2015
Mike Piershale, president of Piershale Financial Group shares this article Prepare for retirement plan changes. “A number of changes will affect the way you enter the new year” Mike says. Here is a quick look at the good news and the not-so-good news for those saving for retirement.
The Wall Street Journal, January 2, 2015
Anna Prior of The Wall Street Journal includes Mike Piershale, president of Piershale Financial Group, in an article about the 15 numbers that are critical for investing, taxes, and financial planning. Piershale weighs in on fixed living expenses in retirement. “Don’t forget bills that crop up only a few times a year, such as some insurance premiums or property tax,” he says. “And while tallying expenses, look for items that you might be able to trim.”
Financial Advisor, December 18, 2014
Karen DeMasters of Financial Advisor quotes Mike Piershale, president of Piershale Financial Group, in an article about dealing with clients who hang onto losing stocks longer than they should. “Some investors go to their graves owning stocks they love, but should have sold to harvest the losses or to diversify,” Piershale says.
RIA Central, December 18, 2014
Nicole Coulter of RIA Central quotes Mike Piershale, president of Piershale Financial Group, in an article about ways advisors can help clients save on taxes. By incorporating tax code knowledge into investment advice, advisors can help clients realize big dividends. “CPAs are focused on deductions and exemptions, and credits,” he says. “Tax planning is more proactive and looks at tax strategies that aren’t automatically going to be implemented.”
Northwest Herald, December 15, 2014
Chelsea McDougall of the Northwest Herald quotes Mike Piershale, president of Piershale Financial Group, in an article about charitable giving and tax incentives. Piershale says his most important piece of advice is this: don’t forget. “The biggest problem people have, sometimes, is they just flat forget. And they get to January 1, and they can’t get that deduction. They meant to donate but, now they can’t get it.”
US News & World Report, Nov. 27, 2014
Mike Piershale, president of Piershale Financial Group, is featured in a second US News & World Report article by Joanne Cleaver. The piece offers tips for transferring 401(k) funds to a new employer. Piershale discusses the complications of owning company stock in your plan. “This typically applies to people who’ve been at the same company for at least five years and typically much longer,” he says.
US News &World Report, November 20, 2014
Joanne Cleaver of US News & World Report quotes Mike Piershale, president of Piershale Financial Group, in an article outlining 401(k) rollover strategies. Piershale explains the forms associated with the transfer can be more difficult than most people expect. “I’m always telling new clients that we like to help them fill out the paperwork for the rollover. The forms can be confusing,” he says.
Kiplinger's Retirement Report, November 2014 Issue
Rachel Sheedy of Kiplinger’s Retirement Report quotes Mike Piershale, president of Piershale Financial Group, in article about how after-tax money can be split from a traditional 401(k) and sent directly to a Roth IRA. The article explains how this will benefit retirees and help them boost tax-free savings. Piershale agrees that this new ruling makes retirement easier. "It's a sweet deal," he says
MainStreet.com, October 23, 2014
Juliette Fairley of MainStreet.com quotes Mike Piershale, president of Piershale Financial Group, in an article about alternative long term care insurance options. Piershale weighs in on annuities and hybrid life insurance plans, and outlines that depending on the individual’s situation, there are different benefits to each alternative..
Bankrate.com, October 15, 2014
Crissinda Ponder of Bankrate.com includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about insurance for newlyweds. “Insurance for newlyweds ought to include disability coverage. You’re trying to replace that income that would be lost if you were ever disabled,” he says.
Consumer Reports, September 19, 2014
Mike Piershale, president of Piershale Financial Group, shares his insight in a Consumer Reports article to discuss the seven questions every client should ask their financial advisor. When discussing how frequently advisors look over their clients tax returns, Piershale says, “If the answer is ‘never,’ that’s a red flag that he could be doing more.”
Donna Fuscaldo of Bankrate.com quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article that discusses how age affects investment style. “It’s very important as you go through the life phases that you update your beneficiaries in your retirement accounts and life insurance policies. Your beneficiaries override your estate plan and your will,” Barzideh says.
US News & World Report, August 22, 2014
Teresa Mears of US News & World Report includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about the consequences of tapping into your retirement accounts before your golden years. “In a perfect world, we would recommend that you don’t tap any retirement accounts early,” he says. “Your retirement account is intended to be for retirement.”
MarketWatch Radio, August 18, 2014
Adrienne Mitchell, host of MarketWatch Radio, features Ben Barzideh, wealth advisor at Piershale Financial Group, in a podcast about careful financial planning for adults if their parents are moving in with them. “It’s important to sit down and plan for as much of the cost that you can think of ahead of time,” he says. “What we see often is the parent moving in with you does have some level of money, and a lot of time they can help out.”
MarketWatch.com, August 13, 2014
Quentin Fottrell of MarketWatch.com quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about six smart ways to pay off debt. “Paying off debt is like getting in shape and losing weight. Both require discipline and little treats along the way, and both should target the one area that bothers you the most. Make a to-do list, track your monthly inflows and outflows just like calories,” Barzideh says.
Maddy Perkins of On Wall Street includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about the importance of retirement planning and why some individuals do not plan properly. “Unfortunately, I think there’s a little denial that happens,” says Barzideh. “It makes [late-comers] nervous and they don’t like that feeling. So they put their head in the sand, act like it doesn’t matter and just go about their day.”
Financial Advisor, July 2014 Issue
Piershale Financial Group was included on Financial Advisor’s 2014 RIA listing, being recognized as 408th out of 529 national firms. The ranking highlights the top US firms based on year end 2013 assets, assets per client, and other weighted elements.
The Wall Street Journal, June 2, 2014
Andrea Coombes of The Wall Street Journal includes Mike Piershale, president of Piershale Financial Group, in an article that discusses the most valuable assets to be left for one’s heirs. Piershale states the importance of allowing a Roth to reach its full potential before taking out income. “If you aren’t able to leave that money alone for at least 10 years after you convert it to a Roth, most of the time it’s just not going to work,” he says. “If you do a conversion to a Roth and start immediately taking income with typical withdrawal rates like 5-6 percent, you will dramatically slow down the potential growth of the Roth IRA.”
Kiplinger’s Retirement Report, June 2014 Issue
Rachel Sheedy of Kiplinger’s Retirement Report quotes Mike Piershale, president of Piershale Financial Group, in an article outlining key rules to be aware of when calculating RMDs. Piershale explains the importance of taking distributions once the original owner of a traditional IRA turns 70 ½. “If you fail to take the RMD on time, the IRS will sock you with a 50 percent penalty of the missed amount – if the RMD is $10,000, that’s a $5,000 penalty,” he says.
Juliette Fairley of MainStreet.com includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article discussing that more than half of millennials are planning to self-fund their retirement through plans such as IRAs and 401(k)s. “When you are younger, a Roth IRA is better because you have many more years to watch it grow and when you withdraw from it at retirement, it’s tax free,” says Barzideh.
Elizabeth O’Brien of MarketWatch.com includes Mike Piershale, president of Piershale Financial Group, in an article describing the importance of maintaining a strong social network after retirement, in order to prevent feelings of isolation. For clients without a strong network, Piershale explains that he acts as a social director, finding out client interests and hobbies to try and guide them to different social networks. “For the religious, church can provide a supportive community, and for the adventurous, we recommend trips abroad,” he says. “There’s nothing like going into a foreign culture to make people get closer to another.”
FoxBusiness.com, April 11, 2014
Kathryn Vasel of FoxBusiness.com includes Mike Piershale, president of Piershale Financial Group, in an article outlining tips that financial advisors wished their clients knew. One money lesson that Piershale offers is to have an estate plan, no matter your age. “You want to make sure your assets are passed to the people you want, and more importantly, you want to name a guardian for your children in case the unthinkable happens,” he says.
The Fiscal Times, March 24, 2014
Sheryl Nance Nash of The Fiscal Times includes Ben Bazideh, wealth advisor at Piershale Financial Group, in an article highlighting some creative, impractical, and unforgettable ways that individuals ‘blow’ their tax refunds. “Some 84 percent of filers have received a refund – and there are plenty of sensible things to do with a few ‘extra’ thousand dollars,” says Bazideh. “If your savings accounts are fully funded, pamper yourself in another way, like investing in a gym membership or taking classes to advance yourself professionally.”
Advisor Today (January/February 2014 Issue)
Nick Fortuna of Advisor Today quotes Mike Piershale, president of Piershale Financial Group, in an article about implementing safe growth plans into Boomer client’s portfolios. Piershale explains that variable annuities can be an attractive option to consider. “Even if you deplete your principal, they have to keep paying you a very decent income until you die,” he says. “When clients come into our office and say they can’t afford another huge market crash, but they still want to be in stocks and bonds, we point them toward the variable annuity product.”
Rodney Brooks of USA Today quotes Mike Piershale, president of Piershale Financial Group, in an article highlighting a recent study finding a startling lack of retirement savings for the self-employed. “I think it’s a huge problem,” Piershale explains. “For the first few years, it’s nip and tuck. Business owners focus on their business at the expense of everything else. They are human resources, the accounting department, marketing department, and the IT department.
Wall Street Journal (November 30, 2013)
Lindsay Gellman of The Wall Street Journal includes Mike Piershale, president of Piershale Financial Group, in an article detailing the critical financial considerations that an individual should make before ringing in the new year. “If you're carrying investments at a loss—say, mutual funds that have dipped several thousand dollars in value since you purchased them—you might consider selling them by Dec. 31 to realize capital losses,” he offers. “Then use these to offset gains from other sources.”
Kiplinger's Retirement Report (December 2013 Issue)
Rachel Sheedy of Kiplinger’s Retirement Report quotes Mike Piershale, president of Piershale Financial Group, in an article detailing the benefits of adding a Roth IRA account for tax-free income. Piershale weighs in on converting a traditional Roth into a Roth IRA, especially if you no longer have earned income. He explains the tax benefits to converting part of the IRA and says, “Try to use up lower tax brackets. It’s a lot cheaper to do a conversion at the 15 percent bracket.”
FoxBusiness.com (November 22, 2013)
Kathryn Vasel of FoxBusiness.com quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article discussing important tips to begin the estate planning process. Barzideh weighs in on why estate planning is a crucial step in securing ones financial future. “You can either plan accordingly in an efficient and organized manner or just let things happen,” he says. “When you don’t plan for the transfer of your estate from one generation to the next, you can end up losing more money to taxes than you had to.”
Financial Planning (November 2013 Issue)
Martha White of Financial Planning magazine includes Mike Piershale, president of Piershale Financial Group, in an article highlighting a recent AARP study that examines the financial impact of retirees going back to work. Piershale weighs in on tax consequences and how to keep clients from spending more in taxes than they have to. "Make sure to take full advantage of all qualified types of plans - certainly putting in the max into a 401(k) plan and seeing if the client can qualify to get a tax deduction on an IRA," he says.
Maggie McGrath of Forbes quotes Mike Piershale, president of Piershale Financial Group, in an article discussing the advantages and drawbacks of owning “too much” employer equity. Piershale weighs in on how much equity in one’s employer is considered to be disproportionate, and furthermore, potentially dangerous. “We advise them to cut it back so it’s not more than 10 percent of their total portfolio,” he says.
Bankrate.com (October 01, 2013)
Nancy Mann Jackson of Bankrate.com quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about creating a successful retirement. He offers insight on how to stay happy in retirement, including developing new hobbies, exercising, planning to leave a positive legacy behind, and follow-up retirement planning for the years to come. "Often, people only plan for that first decade of retirement and don't do the necessary planning for the second or third decade,” Barzideh says. “A financial planner can help you develop a plan, and also manage your investments in accordance to the plan.”
US News & World Report (September 30, 2013)
Mike Piershale, president of Piershale Financial Group, appears in an article by Susan Johnston of US News & World Report about the major tax implications of supporting adult children, and whether this financial support incurs gift tax. “The IRS doesn’t worry about the kid moving back to their old room and eating meals at their home,” Piershale says. “But if you had a parent that was giving really serious money to their kids for whatever reason, they’re going to be interested in that.
Interest.com (August 14, 2013)
Craig Guillot of Interest.com includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article discussing savings tips for adults in their 30s. "With credit card debt, your money is leaving you to pay interest," Barzideh says. “The sooner you pay it off, the sooner you can make money that is paying you back."
Kiplinger's Retirement Report (August 2013 Issue)
Rachel Sheedy of Kiplinger’s Retirement Report quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about social security planning.
Accounting Today (August 6, 2013)
Mike Piershale, president of Piershale Financial Group, discusses the tax benefits of net unrealized appreciation in a podcast for Accounting Today. “It’s surprising how little known this tax strategy is, especially since it has to do with company stock in company retirement plans,” Piershale says. “It gives you a huge tax savings if you are able to get the net unrealized appreciation.”
FoxBusiness.com (July 22, 2013)
Donna Fuscaldo of FoxBusiness.com includes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about savings strategies for newlyweds. Barzideh suggests that couples should communicate their spending habits to one another. “It’s very important that both spouses have an idea of what’s going on with their finances, that way you hold each other accountable,” he says.
CreditCards.com (July 19, 2013)
Margarette Burnette of CreditCards.com quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about how young adults can be financially disciplined after college. “A budget allows you to cut frivolous expenses for items you wouldn't miss, and move those funds into savings instead,” he explains. “You always want to have money for emergencies built in.”
Financial Advisor (July 2013 Issue)
Piershale Financial Group is included to Financial Advisor’s 2013 RIA Ranking, which highlights the firm’s total assets and growth in assets over the last few years.
The Wall Street Journal (July 8, 2013)
The Wall Street Journal includes information on a seminar series hosted by Michael (Mike) Piershale, president of Piershale Financial Group. The educational workshop will highlight IRA and other retirement planning strategies.
The Wall Street Journal (July 5, 2013)
Veronica Dagher of The Wall Street Journal quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about investing strategies for newlyweds. Barzideh recommends that newly married couples begin saving as soon as possible and establish an emergency fund that covers up to six months of expenses. “From there, couples should put 10-15 percent of their combined income into an investment account or savings account,” he says.
Mike Piershale, president of Piershale Financial Group, outlines alternative strategies and tax-savings plans in a piece that appears at CNBC.com. Piershale recommends utilizing NUA as a tactic to avoid steep income tax during retirement withdrawals.
FoxBusiness.com (June 14, 2013)
Emily Driscoll of FoxBusiness.com features Michael (Mike) Piershale, president of Piershale Financial Group, in an article about the importance of getting organized before tax season. Piershale recommends that consumers should be aware of new tax code regulations to avoid mistakes. “Recognize that if you're not experienced at preparing a tax return, get professional help from either a CPA or a qualified tax preparer,” he says.
Michael (Mike) Piershale, president of Piershale Financial Group, returns as a guest on WBBM-AM “Noon Business Hour” radio to offer his outlook on market direction. Piershale touches on current Fed policies and explains that the bond buy-back programs are holding down interest rates artificially, which could be detrimental to the market. “We believe in the long-term, the printing of this money is going to cause some problems. We do not think we’re headed for deflation, but rather for inflation,” he says.
Craig Guillot of Mint.com quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about personal finance moves that consumers should live by. Barzideh discusses saving tips and highlights the power of compounding. “Your money can double later down the line and it really starts growing” he says. “This is why it’s more important to save a little now rather than try to catch up later.”
Rodney Brooks of USA Today quotes Michael (Mike) Piershale, president of Piershale Financial Group, in an article highlighting the top mistakes that advisors see their clients make as they near retirement. Piershale explains the importance of creating solid estate plans and the impact it can have if couples do not have one in place. “If there is not an estate plan, it can lead to a lot of costs and expenses that can set a retirement back for a surviving spouse,” he says.
Jennie Phipps of Bankrate.com quotes Michael (Mike) Piershale, president of Piershale Financial Group, in an article about investors rolling money out of their 401(k) and opting to use an IRA instead. “We have a lot of clients who are stuck in 401(k) plans that offer very limited choices or have mutual funds with hefty fees,” he says. Piershale weighs in on in-service rollovers and offers how the tool may be beneficial for certain employers.
Work Reimagined (May 02, 2013)
Stephanie Pfeffer of Work Reimagined, a channel of AARP, quotes Mike Piershale, president of PiershaleFinancial Group, in an article about the financial impact of changing careers. Piershale shares his story of re-evaluating his career path, returning to the financial industry after working as a minister for a period oftime. The article outlines tips, such as calculating retirement numbers and working with your spouse to ensure support, as items people should consider when changing careers later in life.
Mike Piershale, president of Piershale Financial Group, returns as a guest on WBBM-AM “Noon Business Hour.” During the radio program, Piershale offers insight on investment plays that he recommends to clients and where he expects the market to head in coming months. “We’ve had a nice run up in the market recently and it’s our belief that we will continue to see a rally in the US stock market for the remainder of the year,” he says.
Michele Lerner of HSH.com includes Michael (Mike) Piershale, president of Piershale Financial Group, in an article outlining how to implement estate plans for aging parents before they pass away. The piece highlights estate strategies for families to consider, such as putting the property in a trust. “If your only asset is your house, then a simple land trust will be enough,” Piershale says. “You establish beneficiaries and then when you pass away the property goes directly to your beneficiaries without going through probate.”
Craig Guillot of Mint.com includes Michael (Mike) Piershale, president of Piershale Financial Group, in an article debating whether the wealthy really pay more in taxes than the average American. Piershale explains that rates often “can be all over the place depending on factors related to deductions and credits.” In addition, Piershale weighs in on self-employed Americans and the methods behind how they are taxed annually.
Business Insider (March 26, 2013)
Mandi Woodruff of Business Insider features Mike Piershale, president of Piershale Financial Group, in an article about investors who should steer clear of Roth IRAs, as the investment option is not always a good fit for all. For pre-retirees who expect to use IRA funds in retirement, Piershale urges them to reconsider the Roth, and says, “Converting to a Roth costs money and it takes a certain number of years before the money you pay upfront is justified by the tax savings. This timeline is greatly increased if you’re taking income.”
Financial Planning (March 22, 2013)
Samantha Allen of Financial Planning magazine includes Michael (Mike) Piershale, president of Piershale Financial Group, in an article and accompanying slideshow that reviews tax mistakes that advisors believe accountants make with clients. “Accountants sometimes put their tax preparation fee as a miscellaneous itemized deduction on Schedule A, but often the tax payer is not able to deduct it because it has to be above 2 percent of adjusted gross income,” Piershale explains.
Mike Piershale, president of Piershale Financial Group, appears as a guest on WBBM-AM “Noon Business Hour.” During the radio segment, Piershale offers his thoughts on market expectation and economic outlook. “It’s our belief that as part of the continued stimulus, it could lead to an ongoing rally in the market, which may run for the majority of the year. It could fizzle in the last quarter in 2013,” Piershale says.
The Wall Street Journal (March 01, 2013)
Veronica Dagher of The Wall Street Journal features Mike Piershale, president of Piershale Financial Group, in a profile piece highlighting the Christian-based inspirational speaking events that he holds for clients throughout the year. Piershale explains that sharing his faith is important to him as an advisor, but that he treads carefully. “Our job is to help clients with their finances, not preach. However, advisors can still share faith in smaller ways that clients will appreciate,” he says.
US News & World Report (February 22, 2013)
Daniel Bortz of US News & World Report quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about the pre-retirement concerns baby boomers face. Barzideh offers insight on ways that married couples can make retirement adjustments work properly, given spouses often stop working at different times.
Accounting Today (February 22, 2013)
Michael Cohn of Accounting Today features Mike Piershale, president of Piershale Financial Group, in a podcast reviewing why the firm finds it imperative to include clients’ tax returns in their overall financial plan. “When we begin working with a new client, we require them to bring their tax return statements and their spouse. We need to review these documents and work with the spouse to analyze data and set up proper plans,” he says.
Kiplinger's Retirement Report (February 2013 Issue)
Rachel Sheedy of Kiplinger’s Retirement Report quotes Michael (Mike) Piershale, president of Piershale Financial Group, in an article about how non-spousal beneficiaries can properly inherit an IRA. Often tricky for beneficiaries, the article outlines when to take RMDs if the IRA is split among a number of heirs. “The distribution depends on age—the younger the beneficiaries are, the less they have to take out,” Piershale explains.
Financial Advisor (February 06, 2013)
Karen DeMasters of Financial Advisor magazine quotes Ben Barzideh, wealth advisor at Piershale Financial Group, in an article about people taking funds from a 401(k) plan to pay current expenses. While advisors almost always suggest against taking a 401(k) loan, investors sometimes have to in extreme cases and when other financial options have been exhausted. Offering a solution to avoid tapping into a 401(k), Barzideh suggests setting up an emergency fund before putting money aside for retirement. That way, the emergency fund can be used before a withdrawal from a 401(k) plan has to be made.
Business Insider (January 07, 2013)
Mandi Woodruff of Business Insider quotes Mike Piershale, president of Piershale Financial Group, in an article about fiscal cliff negotiations allowing more workers to convert their 401(k) savings into a Roth 401(k). The fund allows people to pay today’s tax rate on contributions and to withdrawal the money taxfree down the line. Piershale offers insight on whether someone may want to convert and explains that calculating the risk associated with the switch is vital.
Financial Planning Magazine (December 2012 Issue)
Donald Korn of Financial Planning magazine quotes Michael (Mike) Piershale, president of Piershale Financial Group, in an article about funding grandparent-owned 529 plans. Piershale discusses challenges that are often faced between the grandchild’s college financial aid package and 529 plans. “There’s a workaround for those situations,” Piershale offers. “The advisor can tell the grandparent to delay distributions from the plan until no earlier than January of the student’s junior year, if it’s possible to wait that long. By then, the student will be done filling out FAFSA, so the income won’t matter,” he says.
Kiplinger's Retirement Report (December 2012 Issue)
Rachel Sheedy of Kiplinger’s Retirement Report quote