Kyle McClain

Retirement, Investing, Taxes
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“Kyle McClain serves as the Financial Planning Manager for Rhame & Gorrell Wealth Management and is a member of the Investment Committee.”
Firm:

Rhame & Gorrell Wealth Management

Job Title:

Financial Planning Manager

Biography:

At Rhame & Gorrell Wealth Management, Kyle McClain oversees Financial Planning operations, interfaces with clients, and serves on the Investment Committee. In his role as Financial Planning Manager, Kyle works closely with clients as part of an interdisciplinary team of investment and financial planning professionals. He coordinates ongoing financial planning initiatives and facilitates communication between clients and the advisory and investment teams.

Prior to joining RG Wealth, Kyle spent time with Fidelity Institutional Asset Management as an Investment Consultant and with Merrill Lynch as a Wealth Advisor. He graduated Magna Cum Laude with a dual degree in Finance and Economics from the University of Alabama. He also completed his Certified Financial Planner, CFP® program at Texas A&M University in the Spring of 2018.

Education:

BS, Finance, Economics, The University of Alabama
Certified Financial Planner Program, Texas A&M University

CRD Number:

6528254

Insurance License:

#2142223

All Answers
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    Retirement, Real Estate
I have $850,000 in retirement savings and a remaining mortgage of $380,000; should I stop contributing to my four retirement accounts and pay down my mortgage?
20% of people found this answer helpful

On the whole, I agree with the above assessments that you should continue to fund your retirement accounts and pay down debt as cash flow permits. Another factor that this question brings to mind is the asset structure of the rental properties. Do you own them outright or inside of a liability protection vehicle such as an LLC? The inherent liability that goes along with rental property management can be largely mitigated through the use of business entities for asset protection. No one likes to imagine the worst occurring, but should a liability event become reality, a judgement could be reached in excess of what a umbrella insurance policy may protect against. In that event, without the liability protection of entity structure, claimants could pursue other personal assets. While ERISA protection should cover the retirement accounts and homestead laws protect a personal residence, anything else of value could be at risk.

If you have not done so already, partnering with an estate-planning attorney versed in business entity structure can make all the difference. Feel free to reach out to us for a no-obligation consultation if you should have other questions regarding this matter.

February 2018
    Estate Planning, Stocks, Taxes
Given the probability of a market correction, is it a good strategy to convert the securities in a revocable trust valued at $518,000 to cash, considering the tax liability? 
0% of people found this answer helpful
last month
    Investing
How should I invest $300,000 in cash to supplement my current income of $200,000?
0% of people found this answer helpful
February 2018
    Retirement, 401(k), IRAs, Disability Insurance
Can my wife rollover her 401(k) to an IRA before she is 59.5 years old, even though has a disability retirement account?
0% of people found this answer helpful
January 2018
    Pensions, Social Security, Real Estate
Given the sum I am inheriting, and the pension and Social Security I am eligible for, can I afford to buy a house for $950,000?
0% of people found this answer helpful
January 2018