Do I “lose” money by waiting to take Social Security?

By | Retirement, Social Security

Executive Summary

Many retirees choose to take their social security benefit as soon as possible at age 62. But is this the right decision? We all know that the longer you wait to get started, the larger your monthly payment will be. In fact, for every year you wait, you earn an 8% increase in the monthly benefit payment. But for those who DO choose to wait, the missed monthly payments can begin to add up (in their mind), which can cause some uncertainty and have retirees asking the question: “Am I losing money by not taking my Social Security benefit payment?” Read More

Is Your Wealth Advisor a Fiduciary?

By | Family Office, Retirement


In the universe of financial professionals you will come across many types of individuals all with differing educational and experience backgrounds. Due to the overwhelming number of financial professionals it can be extremely difficult to distinguish one advisor from another. However, one simple distinction can help sort through a vast number of advisors within seconds. Ask them one question: are you a fiduciary advisor? Yes or No!

A fiduciary advisor is one that is required by law to act in your best interests whereas the non-fiduciary advisor (ie: stock broker) may face a strong conflict of interest when recommending “suitable” investment solutions to you which often lead you, the investor, down a path that is not in your best interest. Read More

Should I Take A Loan From My 401(k)?

By | 401k, Retirement


401k loans are a feature that some 401k’s offer and may be an option you have in your financial toolbox. But is it the right choice?

The answer: It depends.

Your 401k is designed and works best as a tax efficient way of investing for your future retirement. Using the 401k loan feature as your own personal piggy bank is ill-advised.

But in some cases, considering a 401k loan may actually make financial sense and safeguard your retirement portfolio.

Keep reading as we discuss 401k loans.

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Things To Know About Kimberly-Clark’s 401(k) Plan and Voluntary Severance Package

By | Retirement | No Comments

Founded in Neenah, WI in 1872, Kimberly-Clark is a multi-national personal care corporation that employs approximately 43,000 people worldwide. While the company is now headquartered in Texas, Kimberly-Clark still has a major presence in Wisconsin. 

Last week, K-C announced they are laying off approximately 5,000 employees, many through a voluntary severance program.  

John Weninger, CFP® of Endowment Wealth Management researched the Company’s Plan and the severance package.  He compiled a list of important things to know about the company’s 401(k) plan, and also issues that K-C employees who are considering accepting the severance package should evaluate when making their decision. 

In his blog post, 10 Things to Know About the K-C 401(k) Plan, John comments on the Plan’s wide ranging benefits and features, including annual contribution limits, Roth conversion features, profit sharing, vesting benefits, investment options, loan provisions, asset reallocation, rebalance notifications, and withdrawal provisions for both existing and former employees.

In K-C Voluntary Severance Package 2018, John covers the basic items employees should consider when reviewing a severance offer.  Since 401(k) contributions cannot be made from severance pay, anyone thinking about accepting a severance should consider increasing their 401(k) contribution for their remaining employment.

John’s extensive reviews on this issue are posted to his blog at  If you work for a major employer and would like to request that John review your company’s retirement plan on a future blog post, send him an email.  

Educational purposes only.  Not legal or tax advice.  You should talk to an investment professional before making investment decisions.


November is National Family Caregivers Month- Time to Plan for Long-Term Care

By | Retirement | No Comments

November is National Family Caregivers Month. Caregiving often involves providing for the needs of our older family members, friends, and neighbors. As the number of older Americans rises, so will the number of caregivers. While we take this time to recognize our caregivers, it’s also a good time to consider planning for long-term care. According to the U.S. Department of Health and Human Services, almost 70% of people over age 65 will need some type of long-term care during their lifetimes. Between the ages of 40 and 50, on average, 8% of people have a disability that could require long-term care services. The average yearly cost for long-term care in a nursing home is about $74,820 for a semiprivate room, while the average annual cost for care in an assisted-living facility is $39,516.

Now is a great time to get educated on the significance of long-term caregiving in general and the importance of planning for long-term care within your overall financial plan.
5 Questions about Long Term Care

Retirement Plan Excessive Fee Lawsuit Reaches Supreme Court

By | Retirement | No Comments

The ongoing litigation in Tibble vs. Edison reached the Supreme Court recently in a dispute over the high cost of retail mutual fund share classes in 401(k) plan when lower cost institutional share classes were available.  The defendants argue that the statute of limitations alleging the fiduciary breach had expired.

The case serves as a reminder that Plan fiduciaries should review plan investments each year to see if there are changes and if they are appropriate for the plan.


National Retirement Deficit is currently estimated at $4.13 trillion

By | Retirement | No Comments

As per EBRI’s recent report, the aggregate national retirement deficit number is currently estimated to be $4.13 trillion for all U.S. households where the head of the household is between 25 and 64, inclusive. When the scenario in which prorata reductions to Social Security retirement benefits are assumed to begin in 2033 is analyzed, the aggregate deficit increases by 6 per-cent to $4.38 trillion. If Social Security retirement benefits are assumed to be eliminated in 2015, the aggregate deficit increases by 88 percent to $7.87 trillion.


The Largest Wealth Transfer In History Is About To Begin

By | General, Retirement | No Comments

In the next thirty years, it is estimated that over $16 trillion will be transferred to a younger generation as the ultra-high net worth individuals (those with wealth in excess of $30 million in assets) pass their wealth on to their children.  Of this wealth, at least $6 trillion is expected to occur in the U.S. Most of those passing on their wealth will be first generation, or self-made individuals, or those that have little or no experience with wealth succession planning.  Without adequate planning, up to half of these fortunes may be captured by inheritance taxes, as estate taxes can be as high as 50% in some developed nations.  Source:  Wealth-X and NFP Family Wealth Transfers Report.

A Better Option Than Target-Date Funds

By | Retirement | No Comments

An article titled “A Better Option Than Target-Date Funds” written by Prateek Mehrotra, CIO of ETF Model Solutions and Endowment Wealth Management was recently published in the Industry Voices column on

In the article, Prateek discusses the following drawbacks of TDFs:

  • TDFs assume a “one-size fits all” and fail to take into account unique risk profiles and investment objectives of participants
  • TDFs mechanical shift to conservative assets in later years sacrifices growth opportunities
  • There is no industry standard for the optimal portfolio allocation
  • TDFs with higher allocations to long-term bonds are more sensitive to interest rate risk

He also suggests that because equity prices are extended, investors in retirement plans might want to consider reducing their interest rate risk and equity risk by diversifying into alternative asset classes with lower correlation to stocks and bonds, such as commodities, real estate, hedge funds and private equity- asset classes to which TDFs do not typically allocate.

The entire article can be read here.