Dollars and Sense: Creating Your Fulfilled Life

Navigating the complexities of estate planning can feel overwhelming, and many of us are uncertain about how to initiate this crucial conversation with our families But don’t let your fears of the unknown stop you from planning this important piece of your legacy. Join guest Lindsey Markus, Asset Protection Attorney and Shareholder Principal at Chuhak & Tecson, P.C. as she shares tips for navigating hard conversations around estate planning. Through personal anecdotes and professional guidance, learn how to guide your loved ones to be well-prepared and honor your wishes. Nicole and Lindsey discuss:  The complexities of estate planning in blended families and first marriagesEquitable distribution vs equal distributionStrategies to prevent family conflicts when estate planningThe importance of ongoing review and updates in estate plansAnd more Resources: A Gift For The Future by Lindsey Paige MarkusHow Can Donor Advised Funds Be Used For Estate Planning With Sean Julian (Ep. 27) Action Steps After Loss With Delaney Orozco (Ep. 45)How to Prepare for the Death of a Loved One With Carrie Shoener (Ep. 46) Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370 Connect with Lindsey Markus: LinkedIn: Lindsey MarkusChuhak & Tecson  About our Guest:  Lindsey Paige Markus is a licensed attorney in the state of Illinois, Florida, and New York. Lindsey concentrates in the areas of estate planning, asset protection, wealth transfers, and taxation. Lindsey works with business owners and families to formulate succession plans, advise in wealth preservation and various aspects of gift and estate taxation.  Lindsey is also a collaborative law fellow and consults on the estate planning and estate tax implications associated with marriage and divorce.  Passionate about educating clients and advisors, Lindsey has published more than 30 articles. In addition, Lindsey speaks regularly on estate planning, wealth protection, corporate and non-profit issues to groups and through a variety of media appearances.

Have you heard of the 529 plan? It could be your new key to unlocking a brighter future for your kids while being financially efficient.  Join Nicole Romito as she and her colleague, Colleen Dwyer share the essentials of 529 plans, the tax advantages they offer, and how they can be an integral part of securing the educational futures of your children or grandchildren. Follow along to learn who can contribute, what expenses qualify, and the benefits of starting early.  Nicole and Colleen discuss:  What a 529 plan is and how the money invested in it can be used Differences between state-specific plans and strategic decisionsWho and what qualifies for a 529 planThe tax and financial benefits of a 529 plan and how to set them up properlyAnd more Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.comCall: 312-831-4370 Connect with Colleen Dwyer: LinkedIn: Colleen DwyerMyPrivateVista.comCall: 312-831-4370 About Our Guest:  Colleen Dwyer’s financial services career began in 2018. As a financial advisor at Private Vista, she develops trusted relationships with clients and collaborates to build a plan that creates financial confidence and independence. She enjoys working with a dedicated and experienced team to deliver personal and critical advice and service, so her clients can be successful both financially and personally. Colleen loves to spend quality time with her friends and family, and actively participate in her community. She lives with her husband in Lincoln Park and enjoys all the city has to offer – frequent bike rides and trying new restaurants. When not in Chicago, she spends time in Michigan and the western suburbs visiting family. Colleen also loves to travel and looks forward to checking places off her bucket list when she can.

Are you going through a divorce and need some financial wisdom? Recently Nicole Romito was a guest on The Divorce and Beyond Podcast with Susan Guthrie. Today’s episode features a replay of an insightful conversation that delves into complex financial issues during and after divorce. Gain insights on matters that arise during divorce – including whether or not to keep the house, how to find hidden assets, and the importance of having an advisor as part of your divorce team.   Learn essential tips to avoid costly mistakes and gain a deeper understanding of financial planning in the context of divorce. Topics include but are not limited to: The role of a financial advisor in the early stages of a divorceTax implications and true walkaway values from investmentsComplexities of dividing retirement plans, pensions, 401(k)s, and other assetsNavigating executive compensation and ensuring a fair divisionAnd more Resources: Expensive Mistakes Made in Complex Property Division Cases with Divorce Financial Professional Nicole Romito on The Divorce and Beyond Podcast #308  Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370 Connect with Susan Guthrie: SusaneGuthrie.comThe Divorce & Beyond PodcastLinkedIn: Susan GuthrieFacebook: Susan GuthrieInstagram: Susan GuthrieYoutube: Susan Guthrie About Susan Guthrie:  Susan Guthrie, a renowned figure in Family Law and Mediation, has guided individuals and families through separation and divorce for 32 years. She recently co-founded the Mosten Guthrie Academy with mediation expert Forrest “Woody” Mosten, offering cutting-edge training for legal and mediation professionals. As Chair-Elect of the ABA Section of Dispute Resolution, Susan is poised to lead the Section in the upcoming bar year. Internationally recognized for her expertise in online mediation and AI in law, she has trained over 25,000 professionals worldwide, including programs for ABA, ADRIC, and NADN. Recipient of the 2020 L. Randolph Lowry Award from the Southern California Mediation Association, Susan also serves on the Executive Committee of the Online Mediation Training Task Force. Additionally, she hosts two acclaimed podcasts, The Divorce & Beyond® Podcast and “The Make Money Mediating Podcast”.

Jumping into managing your finances can be overwhelming, especially straight out of college. But don’t worry, this week on Dollar$ and $ense we are replaying a popular episode that includes an insightful conversation about how young adults can build healthy financial habits. Join Nicole Romito as she chats with Carrie Shoener (nee Mangan) about the importance of saving and investing, tips for maximizing employer contributions to a 401(k), and diversifying retirement savings across different accounts. Gain insight into: 401(k)s,  including contribution levels, employer matching, and pre-tax deductionsThe top 3 tips for getting started with investing Rules of thumb for housing costsTarget Date Funds and how they may help you diversify your portfolio with less riskThe importance of having an emergency fundAnd more! Resource: How to Prepare for the Death of a Loved One With Carrie Shoener (Ep. 46) Connect with Nicole Romito:  LinkedIn: Nicole Romitonromito@myprivatevista.com MyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370 Connect with Carrie Shoener: LinkedIn: Carrie ShoenerMyPrivateVista.cominfo@myprivatevista.com About Our Guest:  Carrie Shoener is an advisor at Private Vista LLC. Her previous work as a high school teacher emphasized how important it is to build strong relationships as the cornerstone of one’s career. That same principle guides her work as an advisor, where she is able to continue helping people solve problems and make empowered decisions about their futures. Carrie sees her role as a trusted and empathetic source of financial education, and she enjoys working with clients to build up their knowledge and understanding of their options.

Reflecting on the loss of a loved one is an agonizing journey nobody willingly embarks on. Yet, those who take proactive steps to brace themselves for such an inevitable occurrence are often spared the crippling weight of financial burden and the relentless onslaught of emotional upheaval in the aftermath. Join Nicole Romito as she welcomes her esteemed colleague, Carrie Shoener, to discuss the critical but often overlooked topic of preparing for the death of a loved one. Despite the difficulty, it is essential to have these conversations to ensure that everything is in order and wishes are understood.  Learn key steps and best practices as Nicole and Carrie discuss: How to approach the end-of-life conversation with your loved onesStrategies for ensuring family members have access to essential documents and passwordsThe importance of having updated financial and estate planning documents Tips for sharing sensitive topics with family members to avoid future conflictsAnd more Resources: How to add a Legacy Contact for your Apple IDHonoring Your Loved One’s Memory With Alexandra Koys (Ep. 19)Mastering Your Finances: Tips for Young Adults with Carrie Shoener (Ep. 21)Action Steps After Loss With Delaney Orozco (Ep. 45) Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370 Connect with Carrie Shoener: LinkedIn: Carrie ShoenerMyPrivateVista.cominfo@myprivatevista.com About Our Guest:  Carrie Shoener is an advisor at Private Vista LLC. Her previous work as a high school teacher emphasized how important it is to build strong relationships as the cornerstone of one’s career. That same principle guides her work as an advisor, where she is able to continue helping people solve problems and make empowered decisions about their futures. Carrie sees her role as a trusted and empathetic source of financial education, and she enjoys working with clients to build up their knowledge and understanding of their options.

Despite the certainty of life’s endpoint, many individuals find themselves unprepared for the emotional and financial implications when a loved one suddenly passes away. Do you have the right people and processes in place? Join Nicole Romito and guest Delaney Orozco for an insightful dive into the complexities surrounding the sudden death of a loved one, providing knowledge and compassion for those faced with this challenging situation. From establishing a “key person” to assist with the immediate steps to engaging in self-care practices and managing financial protocols, this episode offers support, guidance, and actionable tips for navigating through one of life’s most difficult times. Nicole and Delaney discuss:  The importance of identifying a “key person” for immediate and supportive actionDeveloping practical checklists for financial and personal affairsThe significance of self-care and seeking emotional support during the grieving processThe different roles of importance such as trustees, executors, and powers of attorneyAnd moreResources: Why Women Belong in the Wealth Management Industry With Delaney Orozco and Stephanie Nanney (Ep. 15)Consumer Financial Protection Bureau: Power of attorneyConsumer Financial Protection Bureau: TrusteeWhen a loved one dies and debt collectors come calling Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370Connect with Delaney Orozco: LinkedIn: Delaney OrozcoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370About Our Guest:  Delaney Orozco, CFP®, began in the financial services industry in 2015 as a service advisor. Throughout her career, she has focused on finding the intersection between the day-to-day processes of the financial world and bigger-picture planning, with the goal of assisting her clients in achieving their private vista. Delaney also has a deep passion for developing guides for her clients, helping them navigate the psychology behind finance and the numbers they see on the page. Her experience as a collegiate athlete has equipped her with the work ethic and dedication necessary to perform at a high level, which she hopes to offer her clients.

Ever wondered how your credit score affects your life beyond loans and credit cards?  Join Nicole Romito alongside relationship banker at Wintrust Bank, Kenneth Ashford for a deep dive into the far-reaching effects of credit. From the basics of starting your credit journey to advanced strategies for maximizing your score, Kenneth sheds light on the critical role credit plays in financial health and decision-making. Follow along for a comprehensive overview, essential for anyone looking to enhance their financial literacy and navigate the credit landscape effectively. Nicole and Kenneth discuss:  The importance of establishing a healthy credit foundation early onKey components that impact your credit score and tips on how to improve itCommon myths about credit and how to avoid misuse Real-life implications of credit scores on renting apartments, securing loans, and moreResources: Annual Credit Report Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370Connect with Kenneth Ashford: Wintrust BankLinkedIn: Kenneth Ashford Email: kashford@wintrust.comAbout Our Guest:  Kenneth Ashford is currently a relationship banker and officer at Wintrust Bank. However, his professional journey spans over four decades, predominantly in customer service roles, showcasing his extensive background in the field.

In this final installment of this two-part series, host Nicole Romito and guest Matt Parenti delve into executive compensation, providing valuable insights for navigating this complex realm. They discuss essential strategies for maximizing compensation plans, minimizing risk, addressing tax implications, and integrating these elements into long-term financial planning to achieve personal goals. Nicole and Matt discuss:  Strategies to maximize different executive compensation plansTechniques for reducing exposure in equity and share investmentsTax implications related to various compensation componentsAligning executive compensation with long-term financial planning and charitable givingAnd more Resources: Strategies for Maximizing Executive Compensation with Matt Parenti – Part One (Ep. 42) Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370 Connect with Matt Parenti: Private Vista – Matt ParentiLinkedIn: Matt Parenti About Matt Parenti:  Matt Parenti is a seasoned financial planner specializing in assisting corporate executives, startup entrepreneurs, and business owners. With a focus on legacy planning, Matt ensures his clients’ financial security and longevity. He is deeply committed to building meaningful relationships, both professionally and personally. As Chair of the Growth & Marketing Committee at his firm, he emphasizes the importance of the “Private Vista Experience” for clients and colleagues alike. He holds a Bachelor’s Degree in Consumer Economics and a Minor in International Studies from the University of Illinois Urbana-Champaign, along with a Master’s Degree in Finance from the University of Notre Dame. Outside of work, Matt treasures time with family and friends, enjoys outdoor activities, and seeks to share his knowledge through mentorship and teaching.

Are you a corporate executive navigating the complexities of executive compensation?  Follow along in this installment as Nicole Romito is joined by Matt Parenti a fellow partner at Private Vista. Learn the ABCs of executive compensation and how to maximize your compensation plans for financial success and security in today’s ever-evolving market landscape. Nicole & Matt discuss:  Different ways corporate executives are compensatedChallenges and considerations faced by executives Managing company stock and deferred compensation plans as part of a financial strategyAnd more!Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370Connect with Matt Parenti: Private Vista – Matt ParentiLinkedIn: Matt ParentiAbout Matt Parenti:  Matt Parenti is a seasoned financial planner specializing in assisting corporate executives, startup entrepreneurs, and business owners. With a focus on legacy planning, Matt ensures his clients’ financial security and longevity. He is deeply committed to building meaningful relationships, both professionally and personally. As Chair of the Growth & Marketing Committee at his firm, he emphasizes the importance of the “Private Vista Experience” for clients and colleagues alike. He holds a Bachelor’s Degree in Consumer Economics and a Minor in International Studies from the University of Illinois Urbana-Champaign, along with a Master’s Degree in Finance from the University of Notre Dame. Outside of work, Matt treasures time with family and friends, enjoys outdoor activities, and seeks to share his knowledge through mentorship and teaching.

When thinking about your financial plan, are you focusing on the serious aspects and how adult the conversation is? Or are you adding in some humor to create a more fulfilling retirement  plan? In this episode, Nicole Romito speaks with Julie Liss, Chief Strategy Officer and Managing Director at Hal Riney, on the importance of incorporating humor into financial strategies and focusing on present joy and fulfillment rather than solely retirement and financial numbers. They explore the importance of creativity, managing a busy schedule, remote work, community, and the freedom that wealth can bring. Nicole and Julie discuss:  The importance of humor and not taking financial life too seriouslyWhy advisors and their clients should have discussions about the client’s life beyond careers and financesRedefining what retirement means beyond leaving the jobHow to balance a busy schedule with personal time for creativityAnd moreConnect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370Connect with Julie Liss: LinkedIn: Julie Liss

Are you grappling with the complexities of selling your business, unsure of where to start or how to navigate the process? In this enlightening episode, Nicole is joined by seasoned professionals, Matthew Hammer and Dawn Mase from Wintrust Commercial Banking, to shed light on the intricacies of selling a business. Through their experiences and insights, they demystify the process and provide valuable advice to help business owners overcome different hurdles to successfully exit their business and leave it in the right hands. Nicole, Matthew Hammer & Dawn Mase discuss:  Different ways to exit your businessSelling to strategic investors, financial investors, or through private salesStructuring the sale transactionOvercoming common pitfallsKey components of the sale transaction, ie earnouts, rollover equity, and working capital adjustmentsContinuing involvement post-saleAnd moreResources: Preparing For The Sale of Your Business: Part 1 with George Karavattuveetil (Ep. 38)Preparing For The Sale of Your Business: Part 2 with Deanna Salo and Eric VanderPloeg  (Ep. 39)Wintrust Commercial Banking Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.com312-831-4370Connect with Matthew Hammer: 847-590-7042mhammer​@wintrust​.comLinkedIn: Matthew HammerAbout Matthew:  Matthew Hammer is a Group Senior Vice President & Division Manager in Wintrust’s Commercial Bank managing Chicago-based middle market privately held businesses.  Matt has 21 years of commercial banking experience, including helping lead Wintrust’s growth since 2013 with diverse experience with manufacturing, distribution, and service companies. Matt has a Bachelor’s Degree from Purdue University, Krannert School of Management with a focus in Finance and Marketing.  Matt is an Evans Scholar alum and active in various leadership positions within the Western Golf Association and Purdue University Chapter. Before joining Wintrust in 2013, Matt worked for LaSalle Bank and its successor Bank of America for 10 years. Connect with Dawn Mase: 847-590-7046dmase​@wintrust​.comLinkedIn: Dawn MaseAbout Dawn Mase:  Dawn Mase is a Senior Vice President in Wintrust’s Commercial Bank where she serves as relationship manager identifying and developing new client relationships and providing comprehensive solutions to existing client relationships. Dawn has over 25 years of commercial banking experience in cash flow and collateralized lending, primarily to privately held companies covering a broad spectrum of industries. She has experience in many areas including financing, domestic and international treasury management, investment management, trade and FX, asset-based lending, equipment finance, derivatives as well as syndicated finance. Dawn earned a bachelor’s degree in business from Illinois State University with a focus in finance. She has been actively involved in mentoring young bankers throughout her career. Prior to Wintrust, she worked for JPMorgan Chase within their capital markets group. She specialized in syndicated finance and private placements and was Series 7 licensed.

Whether you’re at the onset of selling your business or simply exploring your options, knowing what to look out for can help you make informed decisions. In this episode, Nicole is joined by Deanna Salo Managing Principal with Cray Kaiser, and Eric Vanderploeg of Burke, Warren, MacKay & Serritella’s Litigation to share their wealth of knowledge and practical tips to guide you through the process. Join us for an insightful discussion on the legal, tax, and financial considerations when preparing to sell your business. Nicole, Eric & Deanna discuss:  The importance of involving professionals early in the sale process.The critical role of corporate agreements.The importance of accurately valuing the business.Involving key employees to protect the value of the business.And moreResources: Preparing For The Sale of Your Business: Part 1 with George Karavattuveetil (Ep. 38)Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370Connect with Eric VanderPloeg: LinkedIn: Eric VanderPloegBurke Law Connect with Deanna Salo: LinkedIn: Deanna SaloCray KaiserAbout Deanna: Deanna Salo has been with Cray Kaiser for over 35 years, where she specializes in mergers, acquisitions, shareholder disputes, and ensuring strong agreements for companies. However, she emphasizes the personal impact of each engagement, viewing them as connections with individuals or families.  Starting at Cray Kaiser in 1986 after graduating from the University of Arizona, Deanna has grown alongside the firm, which values a people-centric approach. As a Principal since 2001 and Managing Principal since 2021, she provides assurance, strategic, and tax planning services, particularly focusing on closely held and family-owned businesses and nonprofits.  Deanna also leads Cray Kaiser’s relationship with DePaul University’s Entrepreneur and Family Business Council and is highly accessible to its members due to her dedication to their success. About Eric: Eric P. VanderPloeg is a partner at Burke, Warren, MacKay & Serritella, P.C. Mr. VanderPloeg is a member of the firm’s Automotive Franchise, Litigation, and Consumer Financial Services Litigation practice groups. Eric started his career as a litigator, and he has handled an array of commercial matters in both state and federal court in several states and jurisdictions.  In addition to handling disputes, Eric now also acts as general counsel to businesses in several industries, providing advice on legal matters, including contractual, employment, regulatory, and corporate governance matters. In 2016, 2017, 2018, 2019, and 2020, Mr. VanderPloeg was named as a Rising Star by Super Lawyers®, an attorney rating service from Thompson Reuters.

So you’re ready to sell your business or have been thinking about selling for a while, now what? In this two-part episode, Nicole speaks with George Karavattuveetil, President of Psyched, LLC, about how to prepare yourself to sell your business. George shares his 3-step process to help business owners get ready to sell. Nicole and George draw attention to the lack of understanding and preparation among business owners for the emotional impact of selling their business, and the shift in private equity firms’ interest in long-term views when purchasing businesses. They go on to emphasize the importance of managing emotions during the sale of a business, and the value of teamwork and professional advice during the transition. Nicole and George discuss:  Emotional and psychological aspects of preparing to sell a businessPrioritizing goals and values when seeking a buyerPrivate equity firms’ interest in long-term views when purchasing businessesAnd moreResources: Love’s Detour: Navigating Divorce With Beth McCormack and Jason Sposeep (EP. 28)Co-Parenting Strategies Amidst Divorce With Beth McCormack and Jason Sposeep – Part 2 (EP. 29)Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370Connect with George Karavattuveetil: LivePsyched.comLinkedIn: George KaravattuveetilGeorge@psychedllc.comAbout George Karavattuveetil:  George Karavattuveetil is the President of Psyched, LLC. His unique experience has provided him with opportunities to gain critical perspectives of employees and management, entry-level and executive, within union and non-union environments, and across nearly every industry and functional classification. His success has always been with people. George’s goal is to maximize individual and team performance. Not in comparison to others, but relative to what one is capable of.

There is a big part of the investing world that doesn’t get as much news as equity markets. But it should. In this installment of Dollar$ and $ense, Nicole is joined by Matt Bernardi from Bernardi Securities. Together, they demystify the municipal bond market, a key component in funding local infrastructure projects that are vital to our communities. Matt and Nicole expand on how today’s market has weathered the storm of the COVID-19 crisis and the role of stimulus funds in ensuring municipal stability. The discussion extends to the broader economic context, including consumer spending patterns and the Federal Reserve’s monetary policy, to illustrate their impact on the bond market. With this episode, you will gain insight into:  The significance of the municipal bond marketResilience and adaptability of municipal credit during and after COVID-19How the Federal Reserve’s actions impact the municipal bond marketPension liabilities and the potential effects of quantitative tightening on bond portfoliosAnd moreResources: The History of the Decline and Fall of the Roman Empire by Edward GibbonNapoleon: A Biography by Frank McLynnLinkedIn: Steve Anastasiou Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.com312-831-4370Connect with Matt Bernardi:  Bernardi SecuritiesLinkedIn: Matt Bernardi312-281-2015About Our Guest:  Matt Bernardi joined Bernardi Securities in August of 2013 after trading for 3 years at Chesapeake Partners, a hedge fund located in Baltimore, Maryland. Matt currently assists individuals, pension funds, banks, and other institutions regarding their municipal bond portfolios. He graduated from Johns Hopkins University in 2010 with a B.A. in history and economics minor. Matt currently holds the Series 7, 24, 27, 52, 53, 63, and 65 licenses, serves on the Union League Boys & Girls Club investment committee, and is past President of the Associate Board.

Divorce is an emotional time for both spouses, but it’s important not to let emotions control the process. How can you build the best team for your divorce? In this episode, Nicole Romito speaks with Susan Guthrie, a family law attorney, about the intricacies of divorce. They emphasize the value of a collaborative approach over litigation and the importance of assembling a professional team, including attorneys, financial advisors, and mental health professionals. Susan advises listeners on how to select the right attorney, stressing the need for one who genuinely practices collaborative law. They discuss the significance of experience and mindset in professionals guiding the divorce process and debunk the misconception that collaborative divorce requires a friendly relationship between spouses. Their conversation highlights the benefits of collaborative and mediated divorces for all parties involved, especially children. Nicole and Susan discuss:  The need for emotional support before hiring an attorneyThe role of a divorce coach and a financial professional in managing emotions and making rational decisionsThe benefits associated with a well-rounded professional teamThe holistic approach to divorce which involves legal, emotional, and financial aspectsMisconceptions about collaborative divorce, the importance of commitment to the process, and how to find an attorney committed to the collaborative processThe importance of vetting professionals and asking the right questionsAnd moreResources: Divorce and BeyondMake Money MediatingConnect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370Connect with Susan Guthrie: SusanGuthrie.comLinkedIn: Susan GuthrieInstagram: @susanguthrieesqAbout Our Guest:  Susan Guthrie is a nationally recognized family law attorney. She had a successful practice in Connecticut for 32 years and now is a well-known, collaborative and mediation trainer. She aims to help other attorneys learn how to effectively help their clients choose a more productive and amicable way to divorce. She’s also the host of two podcasts, Divorce and Beyond, and Make Money Mediating.

The Secure Act 2.0 is ever-evolving and has brought up some important questions recently, so let’s go over them! Laurie Kaplan, CPA, partner at Michael Silver, joins Nicole for her second time on the show to continue their discussion about the Secure Act 2.0. Laurie goes over what has been finalized in the act for 2023 and looks ahead to 2024 and 2025. She clears up confusion around various topics including the Required Minimum Distributions when inheriting an IRA, changes in retirement plans, the rules and implications of annuities and IRAs, and the importance of tax planning. Laurie also discusses the new Roth IRA rollover option, the penalty reduction for missed RMDs, and the benefits of having both Roth and traditional IRAs. Laurie discusses:  The Secure Act 2.0 provisions and potential impact on retirement plansWhat has been finalized in the act for 2023 and what we can anticipate for 2024 and 2025Changes to required minimum distributions, Roth IRA rollover option for 529 plans, and penalty reduction for missed RMDsExplanation of annuities and IRAs, including single life expectancy and joint annuity optionsDesignation of beneficiaries for retirement plans and consequences of not having one or if the designated beneficiary is deceased or not updatedPremiums and surcharges associated with Medicare based on adjusted gross income (AGI)And moreResources: Highlighting The Key Changes In Secure Act 2.0 With Laurie Kaplan (Ep. 16)Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370Connect with Laurie Kaplan: MichaelSilver.comCall: 847-982-0333LKaplan@MichaelSilver.comLinkedIn: Laurie KaplanAbout Our Guest:  Laurie Kaplan, CPA, has been serving as a trusted advisor to clients for over 25 years, expertly managing and addressing tax and accounting issues within various industries, including manufacturing and distribution, retail, restaurants, real estate, automobile dealerships, and professional service providers. Her background in both accounting and tax, as well as her consultative approach, allows her to partner with clients and develop innovative solutions to address their personal and business needs. She specializes in employee benefit plans, estate and gift tax, like-kind exchanges, and small business start-ups.

Estate planning is important for everyone, but why is it especially important for the sandwich generation? In this episode, Nicole introduces fellow Private Vista colleague, Jeff Toner, CHFC®, RICP®, Partner at Private Vista, to talk about estate planning. While it’s important to get your documents in order before you need them, Nicole and Jeff point out that there are many layers to estate planning and discuss the impact it can have on multiple parts of our lives. They delve into the complexities of managing aging parents’ affairs, the importance of open communication within families, and the need for estate planning documents. Jeff emphasizes the benefits of proactive estate planning, including providing clarity for families, reducing tax burdens, and ensuring wealth preservation for future generations. Nicole and Jeff go over:  The importance of estate planning, especially for the sandwich generationThe challenges that come with managing aging parents’ affairs and the reversal of rolesWhy estate planning isn’t just a checklist, it’s a lifelong processWhat key documents are needed for estate planning, in addition to a willThe challenges faced by the sandwich generation in estate planning for aging parents and themselvesAn explanation of power of attorney, wills, trusts, and their importance in estate planningThe various benefits of proactive estate planning, including control over decisions, educating and providing clarity for families, and tax reductionAnd moreConnect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370Connect with Jeff Toner: LinkedIn: Jeff TonerMyPrivateVista.comCall: 312-831-4370About our Guest:  Jeff Toner, Partner at Private Vista, now almost 40 years into his career, has the luxury of looking backward and reflecting on the journey he has been on. Back in 1984, he didn’t know what a fiduciary was or what a financial planner did. What he did know was he wanted to help people with their finances and achieve their goals in life. He wanted to do it in a way that he wasn’t selling them a product but rather walking side by side with them as they moved toward their dreams. Jeff has been with them in moments of great joy and cried with them during their times of sadness. He has taught and educated them, but more importantly, he has been taught and learned from them as well.

The year-end holidays can be the most stressful time of the year, from family gatherings and tensions to tight deadlines at work. But what if we told you they don’t have to be? In this episode, Nicole speaks with professional development coach Brendan Cournane about stress management. They focus on managing the stress that comes with the holiday season and the pressures of closing business deals by year-end. Coach Brendan shares strategies for managing stress, such as practicing mindfulness, meditation, and curiosity. He also emphasizes the importance of open communication and taking pauses in conversations for reflection. Brendan discusses:  How to manage stress revolving around family and during year-end at work, in preparation for the holidaysThe benefits of practicing calming exercises like meditation and mindfulnessHow to approach challenging situations with curiosityHow to communicate about pressures at work with family membersTechniques for finding calmness and acceptance during the holidaysWhy silence is okay and the role it plays in healthy open communicationHow the ribbon method helps him through tough moments why harnessing happy memoriesAnd more  Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370Connect with Brendan Cournane: LinkedIn: Brendan CournaneCoachBrendan.comcoach@coachbrendan.comAbout our Guest:  Brendan Cournane has served as a partner in a national law firm and various roles in the public sector, including general counsel of the Illinois finance authority. He has seen the malaise and burnout effects of what happens when one’s core values do not align with one’s profession. As a recovering lawyer, he is now a professional development coach helping his clients understand why they do what they do in life, and he helps them align their core values with how they work and live a happier life. Brendan is a certified professional coach and leadership dynamic specialist, as well as a long-time practitioner of mindfulness and meditation, and is a firm believer that happiness is a present attitude, not a future condition.

Are you passionate about changing lives, uplifting those around you, and creating a better world? Join us in celebrating Giving Tuesday, a global movement to unleash the power of radical generosity. In this episode, Nicole Romito invites colleagues Lorena Lopez and Matt Currier. Taking a break from the usual financial topics, they shed light on the beauty of Giving Tuesday and the joy of giving. You’ll hear about their personal stories of giving back to the community, both individually and as part of the Private Vista team — a conversation aimed at inspiring positive change. Nicole, Lorena, and Matt discuss: Private Vista’s fundraising events that are both fun and impactfulTheir personal involvement in various organizations and causesWhy the act of giving isn’t limited to financial donationsHow companies can amplify their charitable impact with firm-wide initiativesReasons to integrate charitable giving into your financial planAnd more  Resources: Big Brothers Big Sisters of Metropolitan ChicagoBoys and Girls Club of ChicagoBUILD ChicagoCity Year ChicagoGirls in the GameGreater Chicago Food DepositoryHabitat for Humanity ChicagoLatina Association for Breast Cancer (ALAS-WINGS)Connect with Nicole Romito:  LinkedIn: Nicole Romitonromito@myprivatevista.comMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370Connect with Lorena Lopez: LinkedIn: Lorena LopezConnect with Matt Currier: LinkedIn: Matt CurrierAbout our Guests:  Lorena Lopez has been in the financial services industry for some time now, and in her position, she handles tasks that vary from ordering supplies to completing paperwork and billing via spreadsheets to help the office run more efficiently. Lorena also provides customer service to the clients and prioritizes tasks to improve efficiencies. Her greatest satisfaction comes from the role she plays in helping clients realize their dreams. Matt Currier’s career in the financial services industry began in 2015, as he kick-started his career in commercial banking. He transitioned from a loan production team, where he facilitated financing for businesses, to the bank’s private wealth management division, enabling him to work closely with clients and offer personalized financial solutions that unlock wealth within their companies. Matt joined the Private Vista team in 2019 after earning his CFP® designation. What truly resonates with Matt is the opportunity to contribute to the success of individuals in both their business ventures and their pursuit of financial independence.

How can you optimize your year-end financial planning?  With the end of the year nearing, it’s a good idea to review our financial plans and look at what we have set up for the long-term. In this episode of Dollar$ and $ense, Jim Weil CFP®, CIMA®, managing partner at Private Vista, joins Nicole Romito to talk about year-end planning strategies. They discuss managing income and taxes, including accelerating or deferring income based on tax brackets, bunching deductions, and timing bonuses for business owners. Nicole and Jim also touch on funding retirement plans and leveraging tax brackets through family member payroll additions while exploring the importance of proactive planning and consulting with financial advisors and CPAs to navigate changing tax laws. Nicole and Jim discuss:  Year-end planning strategies for managing income and taxesFlexibility in income and compensation plans for business owners and executivesTax loss harvesting and timing considerationsThe benefits and drawbacks of interest rate increasesReviewing estimated tax payments and maximizing deductionsAnd more  Resources: How Can Donor Advised Funds Be Used for Estate Planning? with Sean Julian (Ep. 27)Connect with Nicole Romito:  LinkedIn: Nicole RomitoMyPrivateVista.cominfo@myprivatevista.comCall: 312-831-4370Connect with Jim Weil: LinkedIn: Jim WeilMyPrivateVista.comAbout our Guest:  Jim Weil is a seasoned financial planning professional with over 18 years of dedicated expertise in the field. His career began in the late eighties after graduating with a financial planning degree from Purdue University. Jim’s commitment to excellence is demonstrated through his possession of the prestigious CFP (Certified Financial Planner) and CIMA (Certified Investment Management Analyst) designations. Jim’s professional journey has been marked by his passion for client success, and he has undertaken the role of managing partner for Private Vista for the past five years. Beyond his client-focused responsibilities, Jim’s influence extends to the board of directors of Hightower Advisors, Private Vista’s parent company. His exceptional leadership and financial acumen have made him an invaluable asset to the industry and a respected colleague for nearly two decades.