financial planning

THREE LITTLE WORDS YOU MAY NEED TO KNOW: Required. Minimum. Distribution.  

If you are of a certain age and have certain retirement accounts, you probably need to know about the annually required withdrawals from those accounts. The IRS calls them “Required Minimum Distributions”—RMDs.

One special note: Clients, many of you are already treating your retirement account like an orchard, taking out the fruit crop each year to live on. The RMD is not an “extra” amount on top of the crop: it is just a minimum. If you are already taking out 5% in monthly payments to fund your retirement, you don’t need to worry about what happens at age 73.

We’ll talk about the details here, then how it works out in practice.

People born in or before 1950 with any form of retirement account (other than Roth IRA) have already begun doing this RMD process each year (or should have). People born in 1951 or later will have to begin by the year they turn 73.

Basically, the RMD needs to be calculated for each retirement account you have (except Roth IRAs). You must take out the total amount required by December 31, and you will receive a 1099-R showing taxable income.

Clients, you know we pay attention to this and strive to keep you informed about what needs to be done. But there’s one thing to be careful of: take this as an opportunity to check whether there is some account somewhere that we don’t know about, like a 401(k) from a former employer, an odd IRA balance somewhere, 457 or 403(b) plans, and so on. It happens, but it would be a pain to get yourself into some trouble over an account that’s been out of sight, out of mind.

Some people may choose to use the onset of RMDs as a time to consolidate all of their retirement funds into a single rollover IRA, to make this process simpler going forward.

One of the advantages of Roth IRAs is that they have no RMD requirement. As a matter of good planning, it may make sense to convert partial IRA balances to Roth, pay tax when you choose, and whittle down that balance that is subject to RMDs in traditional retirement accounts.

There are lots of ways to handle things! If you’d like to talk about it, we’re here for it. Email us or call.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.

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Spend Well, for Impact 

The object of our work can be distilled into four words: Invest wisely, spend well.

You’ll notice that half those words have nothing to do with saving more, investing more, or putting off pleasure today in order to have more wealth tomorrow. They are a call to action for the present moment: spend well.

But who gets to do the spending? And for whose benefit?

(To put it more bluntly, as one of you has told us before, “I’m not living my life to make my kids rich.”)

We each have to decide what it means to spend well. Our spending habits have a chance to make an impression on the next generation. In fact, what we give away today might inspire even more generous habits in our offspring, or our neighbors, or our students.

It can be downright fun to spend today rather than waiting to leave our mark. Bequeathments, retirement gifts, and other forms of legacy planning can be fitting vehicles for our generosity, but for some people, it might also be prudent to consider what it is we’re waiting for.

If “enough is as good as a feast”—another gem one of you taught us!—then the excess might be spent in a specific direction, today.

A Donor Advised Fund (DAF) is one vehicle for committing to a charitable intent, whether or not the exact destination of the gift is known right now. Spending well might actually mean investing for someone else’s long haul: an organization or cause near and dear to us, a community effort that’s bigger than what any one of us could achieve alone.

This is what we do at 228 Main: help connect the resources we manage to their sources of meaning. We’re not accumulating wealth for the sake of having it. It’s what those resources might mean, what they might do.

But if you can “invest wisely,” you may end up with even more to “spend well”—both now and in the future. No guarantees, but this is what we strive toward: Invest wisely, spend well.

Clients, if you would like to talk about this or anything else, email us or call.

Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss. Past performance is not a guarantee of future results.

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.

To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

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Spend Well, for Impact – 228Main.com Presents: The Best of Leibman Financial Services

This text is available at https://www.228Main.com/.

What If Your Legacy Started Today?

Clients, the wealth you bring to the shop is meant for the long haul.

We often say that the grocery money doesn’t live in here. The car breaks down or the washing machine gives out? You don’t call us for that. Long-term money lives in long-term investments, aimed at long-term goals—the next stage of life, retirement, perhaps the needs of descendants, and so on.

But once all those different goals are on track, we’ve still got some choices to make. (It’s a nice problem to have, surely.)

As habits or hobbies or whole stages of life come and go, we might take a fresh look at our discretionary spending.

What if you started thinking about your legacy and impact as a regular part of your budget, now?

  • What are you not doing that you wish you were doing? Maybe you’d love to become a major contributor to a cause you’ve been volunteering for.
  • What do you wish your community had that it doesn’t have now? Maybe you could lead the driving force behind a park improvement, a new service for a preschool or senior care facility.
  • Where might your money save time for someone you care about? Maybe someday it would be your turn to be the benefactor of the local library foundation or to help the school go digital with its historical records.

Starting a project like this is just like budgeting for any other financial goal. Just ask the big question today: what would you have to change in order to afford this new choice?

We don’t mean to make any of this prescriptive. After all, you are the one who must live your life—not us! But there might be a chance to unlock some exciting opportunities, if only we get a little more intentional or organized now. Who knows?

Clients, if you would like to talk about this or anything else, please email us or call.

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Play the audio version of this post below:

What If Your Legacy Started Today? – 228Main.com Presents: The Best of Leibman Financial Services

This text is available at https://www.228Main.com/.

A New CEO: What Changes and What Doesn’t?

It’s an exciting development! You may have heard our announcement already, but effective January 1, 2026, Caitie Leibman here will be serving as CEO of Leibman Financial Services. Mark Leibman isn’t going anywhere, so what changes and what doesn’t with a new person in the front-facing role? This is a must-watch to get the latest from 228Main.com—online or on Main!

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Change on the Horizon: It’s Official!  

Friends, we’ve reached another milestone in the life of Leibman Financial Services. Since I founded the company back in 1996, I’ve been fortunate enough to see LFS through many chapters and changes already. 

I wrote recently about how I spend my working hours, and my teammates are helping me get more time for my favorite work activities: talking with you and researching the opportunities and challenges that might impact your portfolios. To do more of what I want, I need to be doing less of everything else.  

To that end, we are pleased to announce that Caitie Leibman will succeed me as the next CEO of Leibman Financial Services, effective January 1, 2026. 

I’ve long believed that we are all better off working from our passions and values, and we’ve got a chance to reshuffle what goes on each of our plates.  

We believe Caitie’s strengths are well-suited to this role. There are tasks that stayed on my plate for years only because once upon a time, mine was the only plate! Many of these tasks require the type of logistical thinking and eye for detail that Caitie has brought to all her work. 

Since 2020, Caitie has served LFS full-time as the Director of Communications. She added client work and investment research to her plate after becoming licensed in 2023. 

 It was that year we split ownership of the business: many of you are already aware, but I co-own this business with Caitie, Greg, and Billy. We work as a four-person management team. Decisions will still be made in this collaborative way moving forward, no matter who has what title. 

Instead, the hope is that I get to spend more time doing the parts of the work that are most gratifying to me, and Caitie has a chance to shine in a new way. 

We’ll talk more about what this news means in the coming weeks. For now, know that I’m excited. I’m still aimed at working until age 92, and this change may be part of what gets me there. 

Thank you all, for everything, always. 

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Don’t Be DAFfy: Planning Your Impact 

“I have enough, and enough is as good as a feast.” — Granny, as told to us by one of you

For many folks, giving and community are important pillars of their financial plans and planning. After all, once we discover that we have enough to get by on, we’ve got some important decisions to make about our resources.

What will our excesses and gains mean for the community around us? Or the next generation? Or causes and organizations we care about?

In 2025, Leibman Financial Services added a new type of account, a tool that may be an option for those with charitable intentions and a desire for a little organization.

Here is what we are talking about: a Donor Advised Fund, or DAF. A DAF is an account that we can open and manage for you here in-house. Money or securities that you send to the DAF are considered tax-deductible charitable contributions, even if they came from existing accounts here. (Consult your tax advisor about what this means for you in particular.)

The funds can be invested for long-term growth or disbursed more quickly; you may donate as much or as little as you choose, on your schedule. You request distributions, or “grants,” from your DAF to be sent to the nonprofits of your choosing.

A DAF would become part of our regular conversations about your portfolio, your goals, and your financial plans and planning.

Why consider a DAF? A DAF could be used…

  • As an alternative to creating a family foundation or other organizational structure on your own
  • As a way to simplify philanthropic activities, having a single destination for gift dollars and a single vehicle for sending out donations
  • As a way to organize tax deductions and tax planning
  • As a way to direct high-flying holdings toward charitable intentions (by gifting appreciated assets to a DAF, you pay no tax on the gains, and the DAF pays no tax on the gains)

We work with iGift, a registered 501(c)(3), to administer these accounts. iGift requires a minimum of $25,000 to open a DAF, though only a $1,000 minimum balance needs to maintained thereafter. You may send out gifts as small as $100 to approved nonprofits year-round.

Fees and rationales can be found in our disclosure documents where we discuss more about the terms of our services.

If the DAF still has funds at your passing, your designated successor—an heir or heirs—may direct future donations until the fund is exhausted, or you can elect to provide instructions for how to distribute the remainder among nonprofits.

Our money has a chance not only to outlast us—but to continue making ripples in the world.

The Donor Advised Fund concept has been used by people here at Leibman Financial as part of their tax planning and to organize charitable intentions. Not all account types are appropriate for everyone, though there’s a lot to like here.

Could it be a good time to learn more?

Reach out, anytime.

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.

To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

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Play the audio version of this post below:

Don’t Be DAFfy: Planning Your Impact – 228Main.com Presents: The Best of Leibman Financial Services

This text is available at https://www.228Main.com/.

The Difference between a Superhero and Superhero Movie

Each of us may be the star of our own show, but think about how long the credits would be! You don’t have to be Wonder Woman. Be in a Wonder Woman movie: rally your crew, pick your favorite director, and gather your favorite cast members around you. That’s how things get done. Together.

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What’s on the Horizon for 228 Main? 

We live our lives minute by minute, day by day, and only in hindsight do the broad patterns emerge. 

And sometimes, it helps to think through those patterns out loud. 

As it has been for decades now, working to age 92 is a cherished goal of mine. With a goal like that, sustainability is key. To that end, I work four days a week, and I spend some weeks at a time working from afar, enjoying other scenery while I stay connected with you and with my teammates via the wonders of the internet and mobile telephones. 

My partners and I have been putting some energy into thinking about how I spend those working hours. 

A few months ago, Billy, Greg, and Caitie asked me what I wanted more of, so I told them about what I enjoy most. I love our business objective: striving to grow your buckets. My favorite activities are talking to you as well as researching the opportunities and challenges that might impact your portfolios.  

So then, we realized: to do more of what I want at work, don’t I need to be doing less of everything else? 

Clients, that was a moment when I realized how blessed I am to have the partners I do. They asked me that question, and I could almost feel a load lifting from my shoulders as I shouted, “Heck yes!” 

You see, there are tasks that have long been on my plate because once upon a time, mine was the only plate. Parts of my role have included a lot of logistical overhead, the type of detail work that I don’t always enjoy having to do—especially if I could be talking with our clients or researching investments instead! 

All this is to say, there are some exciting organizational changes on the horizon. I’ve long believed that we are all better off working from our strengths and passions, and we’ve got a chance to reshuffle what goes on each of our plates. 

What will not change is the four-person collaborative ownership and management team that shapes the enterprise that works to take care of your business. I simply will get to spend more time doing the parts of the work that are most gratifying to me. 

We’re looking forward to less stress, and more joy, all around. And I’m excited. Stay tuned in the coming weeks: details are on the way! 

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Play the audio version of this post below:

What’s on the Horizon for 228 Main? – 228Main.com Presents: The Best of Leibman Financial Services

This text is available at https://228Main.com/.

What It Means to Be “Client-Centered”

What does it mean for our business to be “client-centered”? (Wait, shouldn’t all business be “client-centered”?…) In this week’s video, Mark and Caitie talk about the role the firm plays in our relationships with you, what the client’s job is, and more.

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Up a Creek? Grab Your Paddle!

Our daily struggles might have more going for them than we first think. Imagine tripping on the coffee table and thinking, “Gee, it sure is nice to have toes to stub!” A little perspective goes a long way. So “rock bottom” may sound like a terrible place to find oneself, but it also could make a solid place to push off from. This week’s video: a serious lesson from a funny show.

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