Hendershott Wealth Management, LLC
Financial Advisor for Women
After only her first few years working in the financial services industry, Hilary Hendershott knew there was a gap in the marketplace- hundreds of thousands of women eager to be making wise investment decisions and a male-dominated financial industry that simply wasn’t meeting their needs.
Hilary believes that women need a female financial planner who speaks their language to empower them to make smart, safe, and proactive financial moves. Thus, Hendershott Wealth Management, one of the first and only female focused Registered Investment Advisory firms in the country, was born.
Hilary is a female financial advisor who serves women who have $500,000 or more in investable assets. Hilary provides top tier wealth management services, delivered in ways that feel more like a relaxing day at the spa than a tedious meeting with the accountant.
Hilary's clients are her top priority. She works with her clients in ways that work for them. For each course offering, Hilary present the material in multiple formats, so her clients have the tools she offers in the ways they can best use them. She makes use of technology, so her and her clients can work together across time zones and geographies.
Hilary uses plain language, true stories, and the best of everything she has access to through her training, her relationships, and her “got your back” know how to help her clients transform their financial reality into the life of their dreams—the life that matches who they are…the life they most want.
Hilary is also the host of Profit Boss Radio, THE podcast for women and money.
Profit Boss Radio highlights powerful, wealthy women who have created success on their own terms. During these frank conversations, we pull back the curtain and reveal how some of the wealthiest women really think and feel about their money.
Hilary Hendershott is a financial advisor serving the San Francisco Bay Area including San Jose, San Francisco, Mountain View, Sunnyvale, Santa Clara, Morgan Hill, Los Gatos, Monte Sereno, Saratoga, Santa Clara, Palo Alto, Redwood City, Oakland, Berkeley, San Rafael and Marin
BS, Economics, Santa Clara University
MBA, Finance, Santa Clara University
Assets Under Management:
Since risk is related to return, the only place for a truly "no-risk" investment is in either a high yield savings account or a CD with a guaranteed rate of return. You'll get slightly higher rates on CDs because they are timed investments; you'll pay a slight penalty if you withdraw earlier than the period on the contract. Since the investment amount is below the FDIC insurance amount of $250,000 per depositor, the first two options are literally risk free.
Having both traditional IRA/401(k) dollars and Roth IRA/Roth 401(k) dollars is a great idea for retirement if you're able.
Since your 2018 income will be higher than the $199k income limit to contribute to a Roth IRA, you wouldn’t be able to this year unless you can lower your taxable income below the threshold. Some ways to do that include, contributing more to your traditional 401(k) or contributing to a Health Savings account or Flexible Spending Account.
If you increase the contributions to your wife’s 401(k), maybe you could get your taxable income below the thresholds to then also be able to contribute to a Roth.
You could also check with each of your employers to see if your plans offer the Roth 401(k) option.
Since you are 50, you can contribute $24,500 to your 401(k) this year and your wife can contribute $18,500. Best of luck!
If you have any investment positions (that you’ve owned for more than 1 year so that they are considered Long Term) that you could sell at a loss, you could sell them to offset some or all of this gain. If you have wages, you can contribute to an IRA in 2018 and lower your taxable income. Also, if you’re still working and your employer offers a Health Savings Account or Flexible Spending Account, you can contribute to one of those. You could contact the social security office to find out if you qualify to suspend your SS payment for the rest of the year. You may consider contacting a tax planner who can give guidance on calculating the cost basis. Best of luck!
Sometimes it is as easy as contacting the 403(b) company to tell them where to send the check, but not usually. What the 403(b) company is telling you is pretty standard procedure for withdrawing funds from your previous employer's plan. Since the previous employer is so far away, this process will likely take a while since you'll be mailing forms back and forth. But your previous employer is probably used to the procedures for signing off on the forms. You should follow the instructions of the 403(b) company since they are the ones holding your funds and you'll have to follow their procedures to get it out and roll it into the IRA. Best of luck!
To minimize your taxes, you need to lower the income that is taxable. You can contribute to up $18,500 to your 401(k) this year ($24,500 if you’re age 50 or over). Putting that into the pre-tax portion or traditional portion would lower taxable income. If your employer offers a Health Savings Account or Flexible Spending Account, you can contribute to one of those. These are great ways to invest in yourself for your future and lower your taxable income. As well, and this may be a more extreme action, but if your state has high taxes, you could consider moving to a state with lower taxes.