Firm:
9M Investments, LLC
Job Title:
Managing Member
Biography:
Jacob Millican created 9M Investments after spending 15 years in the financial services industry in various roles focused on retirement. As a fee-only Registered Investment Adviser (RIA), 9M Investments is legally obligated to place its client's best interests before any other party when managing investments or providing advice.
Jacob has a clean regulatory record and no history of client complaints. He works with individual and business clients all over the United States and unlike many other advisors, he does not charge a fee for introductory client meetings. His fees are clearly stated here.
When he's not thinking about his clients, Jacob spends a lot of his time in health and fitness activities. He loves running and have participated in a multitude of races from 5K's to half-marathons. He enjoys gardening, but especially love cooking with fresh fruits and vegetables! He's also a voracious reader, this mainly tends to be economics and market related topics.
Jacob has been featured in Advisor Magazine
Education:
Texas Tech University
Assets Under Management:
$10 million
Fee Structure:
Fixed
CRD Number:
4607734
Disclaimer:
9M Investments, LLC is an Investment Adviser registered with the State of Texas. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. We may, from time to time, have a position in the securities mentioned and may execute transactions that may not be consistent with this communication's conclusions. Please contact us at 817-680-7942 if there is any change in your financial situation, needs, goals or objectives, or if you wish to initiate any restrictions on the management of the account or modify existing restrictions. Additionally, we recommend you compare any account reports from 9M Investments with the account statements from your Custodian. Please notify us if you do not receive statements from your Custodian on at least a quarterly basis. Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website, www.9minvestmentsllc.com. This disclosure brochure, or a summary of material changes made, is also provided to our clients on an annual basis.
Your concerns are valid. But a withdrawal strategy built around your needs can help alleviate your concerns in up and down markets. I like to use the 3 buckets strategy. You mentioned that you need $30K per year from your 401K. In bucket number 1 is the next 2 years of your needs. In your case that means $60K in cash or CD’s. Bucket 2 would be roughly 5 years of expenses. Again, in your case that means about $150K in a bond portfolio. It could be a mix of investments, but the goal is to slightly beat inflation. In bucket 3 is an investment strategy for the long term. An investment mix up to your risk tolerance, but a 60/40 mix or above in this bucket makes the most sense. Remember we have planned for 7 years of expenses. So we have time to make it up any downturns in the market.
This is the super simplified version. Managing RMD’s and cash flow needs throughout your retirement is just as hard building your nest egg. This strategy can be done in one account or separate accounts. But making sure we do it in the most tax efficient way is the key.
Yes, you can take distributions from your pension from your old employer, while also making contributions to your current employer. But do keep an eye out for how that pension will affect your tax situation. It could possibly move you into a new tax bracket. If you have options of how that pension is paid out, be mindful of this when choosing an payout option. Typically that is a one-time decision, no do overs.
This sounds like the company is just doing away with whatever "fringe benefits" they were offering and just using the 401(a) as a way to offset any loss of benefits for their employees. Companies change policies on their benefits all the time. Unfortunately most times it's to the betterment of the company and not their employees. But I would need a lot more information than provided to give a better answer.
Yes. If you have 401Ks from old employers you have a couple of options. You spouse could do what is called a "rollover" into their current 401K plan or they could also rollover into an IRA or Roth IRA (if there are roth contributions). You may want to look at investment expense ratios and investment options inside the current 401K to see if it's the best place to rollover funds. Depending on the plan, some 401Ks can have expensive options vs. what you could do in an IRA. You will have more investment options in an IRA and may be able to find much less expensive investment options. Again, it all depends on your particular 401K.
When you reach full retirement age(depends on when you were born), your earnings no longer reduce your benefits, no matter how much you earn. For most people, full retirement age is 65, 66, or 67. At age 70, feel free to collect and to keep working as long as you like.