What problem can we help you solve? Retirement savings, income, investment advice, financial planning, insurance, estate planning, or business benefit plans.

Search and pick Illinois wealth managers, financial planners, investment advisors, and insurance reps in the following cities:

Chicago, Aurora, Rockford, Naperville, Joliet, Springfield, Peoria. If you are looking for a different location, search here.

November 6, 2008: Illinois looks ahead to Economic and Investment Changes

Some Illinois and Chicago residents celebrated Barack Obama's election this week and are now looking forward to change in both government and personal finances. How will Obama's promised tax increases affect Illinois residents? What about the recent stock market crisis? How have the reduced values in 401ks and IRAs affected your retirement plans? How high will Obama raise the estate tax?

These questions have caused many Illinios residents to turn to a professional financial advisor for the first time. Both do-it-yourself investors and those not entirely happy with their current financial advisor are searching for financial planners and advisors on the internet. The important thing to remember is to look for advisors who are a good match for your goals and who have experience helping others in your situation.

May 7, 2008: Illinois Wealth Managers and Investment Advisors helping new millionaires.

A recent survey shows that Cook County, Illinois was in the top 10 counties in the country, ranked by number of millionaire households. It was actually number 2, right behind Los Angeles County. Clearly, there are a lot of high-net worth investors in Chicago and the surrounding areas. Fortunately, there are a lot of wealth managers and trust advisors to help them.

How do wealthy investors find an investment advisor they can trust? Until now, there hasn't been a good process. Individuals sometimes get a referral, look up an advisor at random, or passively get contacted by an advisor's sales pitch. Wealthy individuals often think the referral from a friend is the best way. However, no one's financial needs and goals are the same! You might have a second home in a different state, a child with special needs or restrictive trusts, or unique assets. Unless your friend has the identical situation, you might need a different advisor.

This is why you should determine what your needs are and what you are looking for in an advisor. As you interview wealth managers, get a feeling for a match in the investment philosophy, communication style and personality of the advisor. This is important because good communication and a similar style are necessary for a good working relationship. And if you are one of those many millionaires in Cook County, Illinois, then a good working relationship with your financial advisor is important for you to reach your goals.

January 24, 2008: Planning for retirement income in Illinois

We are seeing the beginning of a major shift in financial planning in Illinois. The past 10 years have been a period of major accumulation of investment assets for capital gains and growth by baby boomers in Illinois, while the next 20-30 years will see a shift of investment assets toward income. In other words, Illinois baby boomers have been saving up for retirement. Once they retire, they will need to invest for income.

How do you do that? Well, some people retiring today have pensions which will support them. However, most people who are soon to be entering retirement in Illinois will have to work with a financial planner to create their own "retirement paycheck". This often means a combination of Social Security, having a plan to sell and spend a portion of their investment accounts, and the purchase of annuities which can provide a guaranteed lifetime income.

Your current age, your spending, and your planned retirement age have major impacts on how much you will need to support your retirement. An Illinois financial planner or investment advisor can work with you to analyze your financial plan. After meeting with their advisor, many people realize they should change part of their plan, like working a little longer or spending less. Others will be able to work with their Illinois financial advisor to plan for leaving an inheritence to their family or charities. Younger savers can also benefit, by looking at the various savings "buckets" (401k, IRA, Roth IRA, taxable accounts, etc) you are using for retirement income.

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