Financial Planning, Wealth Management & Tax Services

That broader perspective becomes especially important as retirement gets closer. The focus gradually shifts from accumulating as much as possible to making accumulated assets provide reliable income while managing taxes, market risk and the possibility of a retirement that lasts several decades.

MLN works with individuals and families in Grayslake, Kenosha and surrounding communities who want coordinated financial advice rather than having each financial decision handled in isolation.

• How much retirement income will I need?
• When can I realistically retire?
• Which accounts should I draw from first?
• When should I claim Social Security?
• How will required distributions affect my taxes?
• Should Roth conversions be considered before or during retirement?
• How much investment risk should I continue taking?
• How can I prepare for health care or long-term care expenses?
• What happens to my plan if I live longer than expected?

Tax preparation tells you what happened last year.

Tax planning asks what you may be able to do differently before this year’s tax return is filed.

That distinction becomes increasingly important as your finances become more complex. Investment income, retirement distributions, Social Security, capital gains, business income and estate decisions can all affect your tax picture.

MLN combines tax preparation resources with forward-looking tax planning so tax consequences can be considered while financial decisions are being made, rather than discovered afterward.

Depending on your circumstances, planning may include evaluating the tax consequences of retirement withdrawals, investment transactions, charitable giving, Roth conversions and other financial decisions.

The objective is not simply to minimize this year’s tax bill. It is to make tax decisions in the context of your larger financial plan.

Rather than looking at Social Security in isolation, we consider how different claiming strategies fit into your overall retirement-income plan.

A financial advisor should do more than tell you what to buy.

The relationship should give you a clearer understanding of where you stand financially, what decisions need to be made and how those decisions affect one another.

For clients approaching or already in retirement, that means your advisor should be able to discuss more than portfolio performance. Retirement income, taxes, Social Security, estate considerations, insurance and changing family circumstances all deserve a place in the conversation.

It should also be clear why a recommendation is being made.

You should understand what your financial strategy is designed to accomplish, what assumptions it depends on and when it should be reconsidered.

MLN works with legal professionals when estate-planning expertise is required so that financial and investment decisions can be considered alongside the legal structure of your estate.

For many families, the goal is straightforward: make things easier for the people you care about while preserving as much control and flexibility as possible during your lifetime.

Planning does not necessarily mean purchasing a particular insurance product. It begins with understanding the risk, determining what resources could be used to pay for care and deciding how much of that risk you are comfortable retaining.

Where appropriate, MLN can also help clients evaluate long-term care and insurance solutions as part of their broader retirement strategy.

Fee-Only Financial Planning

Some investors want financial advice without commission-based product recommendations.

MLN offers fee-only planning for clients seeking financial guidance structured around a planning relationship rather than commissions from investment products.

Understanding how your financial advisor is compensated should be part of choosing whom you trust with your finances. We encourage prospective clients to ask what services are included, how fees work, how investment recommendations are developed and what ongoing planning support they can expect.