Susan (70), is a retired successful entrepreneur who sold her business a few years ago with the assistance of the Baird Business Owner's Solutions Group.  She and her husband Tom (73) want to leave a legacy for their two adult children and three grandchildren through gifts to their heirs and through philanthropic efforts. Our team has many years of collective experience in helping clients like Susan and Tom to:

• Develop a portfolio strategy to invest the business sales proceeds in alignment with Susan and Tom's risk profile, time horizon and goals.
  
• Assist in executing charitable giving strategies such as Qualified Charitable Distributions through IRAs and the creation of a Donor Advised Fund.
  
• Review Susan and Tom's tax situation annually to look for efficiencies and opportunities to manage taxes against their long-term goals
• Educate successive generations to increase their financial literacy and prudent management of inherited assets. 
  
• Periodic reviews of Susan and Tom's estate plan to ensure they're optimizing wealth transfer opportunities and have clear plans in place to support them in the event of an emergency

Scott, (58) manages a non-profit organization. He is thinking of retiring in a couple of years and wants to make sure he has positive answers to questions such as “Can I afford to retire?,” “Will I run out of money?,” “How do I fund health care before I am eligible for Medicare?,” and  “How much can I spend on travel in retirement?.” He also holds life insurance policies, but does not have a good understanding of their purpose. We help clients like Scott prepare for their big transition through:

• Analyzing Scott’s current situation and his retirement goals beyond Medicare and Social Security
• Helping Scott to think through decisions on benefits maximization, medical insurance options, and Social Security timing through our comprehensive financial planning process
  
• Providing an insurance and annuity policy review to determine whether his current coverage is still appropriate
• Developing an investment plan that will support Scott during the retirement transition and his changing financial situation
• Helping Scott with cash flow management as his income sources change and he relies on portfolio income to support his goals
• Working with Scott to maximize his tax opportunities in the years leading up to the start of Required Minimum IRA distributions
  

Ruby and Aaron are busy professionals in their late 30s, married with 2 young kids. They are very diligent in accumulating wealth for housing and education funds. Between work, family, friends, and hobbies, they have very little time to educate themselves on investment, tax, insurance and estate matters. Time is their most limited resource. They both have accumulated several different 401k accounts, with multiple investment firms, which have been left on autopilot. They would like some professional advice on how to focus their savings efforts, what their next steps should be, and what they might be missing. We start by clarifying Ruby and Aaron’s immediate and long-term goals, challenges and concerns, then offer our help to:

• Consolidate their assets as appropriate and create a coordinated financial plan, starting with a consolidated net worth statement and confirming their budget and savings goals to help manage cash flow and liquidity
• Develop and manage an investment strategy based on Ruby and Aaron’s goals, risk profile and time horizon
• Review and advise on Ruby's stock options and Aaron's restricted stock plan to make sure they understand the nature of their equity compensation and the tax implications of their decisions
• Help Ruby and Aaron to develop a strategy for balancing savings goals, such as college savings through 529 plans and maximizing retirement plan contributions for employer matching