• Retirement and Investment Advice

  • What's new in finance and business!

    Latest Rules, Laws, Regulation

    RMD (Required Mininum Distribution) Changes for 2020

    ***click here for forbes article***

    1) If you were supposed to start your RMD this year, you can wait until the year you turn 72.

    2) RMD requirements have been suspended for all in 2020 per the CARES Act

    3) Individuals taking early distributions will have the 10% penalty waived** (still taxable at income levels).

     

    **please seek guidance on taking money early from a retirement plan and how it affects your future income and retirement timeline

    Hero Pay for Front Line Workers

    Thank you to our front line heroes during this time!

    1) Hazard Pay has been an ongoing discussion during COVID 19

    2) Proposals for hazard or hero pay have been discussed (but not passed).

    3) Employers would have to apply on behalf of their employees. Up to $25,000 with income limitations.

    4) Front line are nurses, doctors, janitorial staff, grocery store workers, and various types of transportation workers. (essential)

    *still in early stages

     

    Business Owners Resources

    Business Owners can apply for various loans through SBA and local banks.

    ***click here for SBA website and direct info***

    1) SBA loan with no/low fees and interest rates between 2.5 - 3.5 (direct with government on SBA website)

    2) Payroll Protection to cover payroll costs, partially forgivable if used primarily for payroll. (available through banks.)

    3) Look to your state agencies for available loans. Various states have rolled out loan packages.

    4) Prepare to wait!

    Offered Severance or Buyout?

    Company's are known for offering severance, buyouts, or early retirement packages in times of financial uncertainty.

     

    1) Evaluate severance package terms and conditions.

    2) Ask questions regarding unemployment and verbiage of severance to your HR department.

    3) Lump sum payout vs paid as payroll - lump sum may allow for unemployment benefits.

    4) Know that the HR department serves the the company and has the company's interest at heart, get outside advice!

    5) You are now eligible to take your 401K, TSP, 403B and retirement savings and produce income and/or invest those monies in a way you and your financial adviser design.

  • Our Team

    William Brennan is the owner of Brennan Financial Group. He is a Certified Financial Planner™, Investment Advisor Representative, and Registered Principal. A graduate of the University of Delaware, William has over 25 years of experience in the financial services industry.

     

    Leigh Joseph joined Brennan Financial Group in 2007 after graduating from The University of Delaware. Leigh is both Series 7 and 66 licensed. She has 12 years experience in the financial industry.

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    Meet Our Team

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  • How It Works

    Meet with Brennan Financial

    We work with all age groups. Our mission is to provide insight into a very complex world. Financial planning can be very complicated, but it is necessary for most individuals and families. Financial planning should be accessible, individualized, and understood. Our mission is to provide the individualized service that puts folks at ease and confident in their financial future.

    1

    Schedule a meeting

    You are ready to create a plan. It is time to gather any information relevant to your financial situation in preparation for your initial meeting. This includes savings statements, 401k statements , defined benefit plans, non qualified assets, and insurance policies.

    2

    Meet with an advisor.

    Go over financial goals and expectations of working with a professional. Make sure your advisor understands those goals and you feel comfortable in developing a working relationship. Share what you are comfortable, if it takes more than an initial meeting to build trust that is okay. Never feel pressure to decide quickly, this decision effects the next phase of your life.

    3

    Follow up

    Go over a tailored plan with timeline of goals, cash flow analysis, and projection of impending retirement. This plan is a work in progress and just as life changes so must a financial plan. Be clear what you expect from your advisor. This should be a long lasting relationship built on trust.

  • Common Questions

    Reassurance. Making sure you are on track and have a plan.

    Employer Sponsored Plans

    Am I saving enough?

    Contributing to a 401k, 403b, or an IRA increases your chances of a successful retirement, but how much is enough? We work with our clients to answer this complicated question.

    Investment Choices

    Where should I be putting my money?

    Investment choices are as complicated as the reasons behind them. We address some common investing mistakes and build a tailored portfolio around risk tolerance, income needs, and retirement timelines.

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    Resources for Retirement

    When you are in the beginning stages of planning, financial calculators are great tools that give a rough idea of retirement goals and income needs for your future. Calculators have their limitations, specifically all the outside factors and conditions of lifestyle goals. When financial calculators fall short consult a financial advisor.

  • Investment Choices

  • Individual Stocks and Exchange Trade Funds

    Portfolios constructed with individual company stock and/or low cost funds that mirror S&P, sectors, or a basket of funds. Evaluated quarterly or annually. Risk tolerance and investment horizon major factor in how portfolio funds are chosen.

     

    Management fees of 1%-1.25% No surrender periods

    Actively Traded

    Portfolios traded every day with a focus on risk management and market condition changes. Evaluated daily and traded daily. Ability to use inverse and leverage funds. Strategically traded therefore higher cost.

     

    Management fees 1.0%-1.5% No surrender periods.

    Variable Annuities

    Product that offers income riders and death benefits with sub accounts that are tied to the stock market. Income riders and death benefits have a cost and internal fees of subaccounts.

     

    Cost varies from 1%-3%* depending on the adding of riders to contract. Surrender periods can range from 4-10 years.

    Equity Index Annuities

    Low cost annuities that offer safety of principal and income guarantees. Can offer death benefits and nursing home riders as well. Performance tied to fixed account and equity index using crediting. Income riders and death benefits have a cost, but no internal fees.

     

    Cost vary from 0%-1.3%* depending on add ons of riders. Surrender periods can range from 4-10 years.

    Life Insurance

    20 year term - Income replacement for lowest cost. Young families should investigate.

    *after 20 years premiums are gone*plus side you're alive!

     

    Universal / Whole Life Insurance - Create cash value and death benefit. This insurance does not expire like 20 year, but the cost to insure is also higher. Protects you if later in life you become uninsurable.

     

     

     

    Long Term Care

    Long term care - Do you need it, and when should you get it? It varies from person to person. Is the premium cost worth the benefit? Long term care offers a daily benefit to offset cost of stay in skilled nursing home or assisted living. (Cannot perform 2 out of the 5 adult daily living). LONG TERM stays in skilled nursing home and assisted living are NOT covered under Medicare.

  • Next Steps

    We love financial calculators, they are great starting points. The sites that provide them are wonderful resources. When the hypothetical retirement becomes real we would like to be the expert you call.

    IRA Rollovers

    Investing in your future

    You've retired or switched jobs and need to evaluate what you should do with the money you've contributed. An IRA rollover lets you control that savings, derive income, and chose what type of investor you want to be. IRA's can be less restrictive than employee contribution plans which gives limitless options for different types of investors.

    Insurance

    Using a third party to insure your retirement

    Insurance isn't the right choice for everyone, but when used strategically it is a very effective tool in financial planning. From 20 year term to long term care, insurance can provide peace of mind.

  • Contact Us

    Ready for your future? Start a plan today!

    3521 Silverside Rd Suite 2G-2 Wilmington De 19810
    Monday - Friday
    9:00 am - 5:00 pm
    *After Hours Appointment upon request
    *In home appointments upon request
    3026558361
    3026558361
    wbrennan@brennanfinancialgroup.com

  • Connect With Us

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  • The Blog

    Market Outlook and Financial Commentary

  • This site is published for residents of the United States and is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security or product that may be referenced herein. Persons mentioned on this website may only offer services and transact business and/or respond to inquiries in states or jurisdictions in which they have been properly registered or are exempt from registration. Not all products and services referenced on this site are available in every state, jurisdiction or from every person listed.

    Securities offered through Securities America, Inc., member FINRA/SIPC. Advisory services offered through Securities America Advisors, Inc. Brennan Financial Group and Securities America are separate companies.

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