Hilary Hendershott Wealth Management, LLC
Financial Advisor in San Jose, CA - CEO
After nearly 15 years 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, Hilary 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 her special version of the top tier wealth management services evolved investors expect, delivered in ways that feel more like a relaxing day at the spa than a tedious meeting with the accountant.
Hilary's clients and students 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
The annual contribution limits on 401(k)s are significantly higher than those on IRAs (traditional or Roth). For 2018, it’s $18,500 (24,500 if you’re over 50) for your 401(k) and only $5,500 ($6,500 if you’re over 50) for the IRA (total contributions to Traditional and Roth). So if you want to maximize your contributions for retirement, adding them to the 401(k) is the way to do that. If you meet the income limits then you can contribute to your Roth IRA too. Many people have multiple account types – 401(k), traditional IRA and Roth IRA.
Contributions to your 401(k) through your employer are made through salary deferrals. You have until 12/31 to make contributions for that year.
You will actually lower your taxable income by deferring more of your income to your 401(k) account. You can contribute up to $18,500 in 2018 or $24,500 if you’re over age 50. You don’t pay taxes on your 401(k) dollars until you withdraw them from your account.
There are no tax implications to move your 401(k) directly into an IRA. When you withdraw funds out of the IRA, those dollars would be included in your taxable income and if you are under 59 ½, you’d pay an additional 10% penalty on the withdrawal at tax time.
You’ll pay income taxes on the $4,000 and if you’re under 59 ½, you’ll pay a 10% tax penalty on top of the income taxes. Your 401(k) provider may charge you a small fee to send the checks. The portion you are rolling over should be sent directly to the new retirement account if possible so that it’s considered a rollover and not a distribution.