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Monday 8am - 4:30pm Tuesday 8am - 4:30pm Wednesday 8am - 4:30pm Thursday 8am - 4:30pm Friday 8am - 4:30pm

Piershale Financial Group, Inc

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United States
Barrington, IL
Piershale Financial Group, Inc

Elevating Wealth Management to a Higher Personal Standard

As a fee-based advisory service, our sole focus is assisting our clients, affluent
individuals, families, and business owners, to achieve their financial goals

05/10/2023

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.

Figuring out first which kind of beneficiary you are will make it easier to grasp the rules and timing on required distributions.

03/10/2023

IRAs are tax deferred retirement plans that should come with a warning label: “Caution, handle with extreme care” – because certain missteps can cause the whole thing to go through probate and trigger unnecessary taxes and fees.

02/15/2023

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.

As the Federal Reserve continues to raise interest rates, more consumers have incentive to switch banks to earn more interest on their checking and savings accounts.

01/09/2023

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 crunch.

Advisors should help clients balance pretax savings with funds that can be accessed in an emergency.

12/09/2022

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.

Roth conversions are a great opportunity, given current market dynamics and the threat of future taxes hikes.

11/14/2022

Among the reasons for taking a hardship withdrawal, using funds to help purchase a home where you will live may have the least negative impact. "A home does appreciate over time much like an investment," says Ben Barzideh, a wealth advisor at Piershale Financial Group in Barrington, Illinois. "There are also emotional and psychological benefits to owning a home."

Consider your eligibility and the impact of removing retirement dollars before dipping into your 401(k) plan.

11/11/2022

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.

Immediate vesting and contributions by the employer regardless of the employee’s participation pump up workers. Employers get lower costs and tax benefits.

10/25/2022

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.

It may be time to reconsider how much market risk is appropriate for older clients, Mike Piershale tells ThinkAdvisor.

08/29/2022

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.

Take stock of what your advisor tells you and whether they may be overpromising just to get your business.

Address

1531 S. Grove Avenue, Suite 206
Barrington, IL
60010

Opening Hours

Monday	8am - 4:30pm
Tuesday	8am - 4:30pm
Wednesday	8am - 4:30pm
Thursday	8am - 4:30pm
Friday	8am - 4:30pm

Website

http://www.PiershaleFinancial.com/

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