General Questions

What Does A Financial Planner Do?

A financial planner listens to and understands the client’s financial picture and then comes up with recommendations on how best to manage the clients’ money. They take the headaches of how to invest and what to do off your plate. Some other areas advisors look at are your goals, taxes, retirement planning, insurance analysis and many other areas and work on educating you, the client on these topics. We believe in understanding the client’s whole picture before providing guidance and recommendations.

Am I qualified to be a client?

At McDonough Capital Management, we strive to create personal relationships with all clients and want to make sure every new client onboarded is the right fit for both of us. Our clients come from a broad range of backgrounds and we would love to meet with you to see if you’re a good fit. Your personal asset size and the complexity of your estate will help determine which advisor will be your main point of contact. Schedule an introductory call with us today.

What is the minimum investment to work with the McDonough Capital Team?

We are here to strive to provide the best possible service available in the industry. To that end, we operate as a team to service all your financial needs. When you call you will speak to a live person and we will work to resolve your questions as soon as possible. We are here to answer any of your questions that pertain to anything financial. If we don’t have the immediate answer, we will find the answer and return to you ASAP.

How do I transfer my accounts from a different advisor to your firm?

Transferring an existing account to our team is very easy. Once you provide our team with a statement from your old account, we will set up a phone consultation with you. This consult will serve as a time for us to gather all of your information and fill our transfer paperwork on your behalf. All you have to do is review and sign. There is no need for you to work directly with your previous advisor, we take all of the work out of your hands.

I am retiring. Should I be investing differently now?

Most likely, yes. When you’re working, your focus is usually on growing your money. But once you’re retired, the goal shifts to protecting what you’ve built and making it last. That doesn’t mean pulling everything out of the market; it means adjusting the balance between growth and safety. We’ll help you fine-tune your investments so you can sleep better at night and still grow your wealth over time.

I am retiring - what should I do with my 401k?

When you retire or leave a company it is typically in one’s best interest to roll the 401k into an IRA. Once the rollover has been complete and you have all of your funds available in an IRA, your investment selection dramatically increases. 401ks are limited to the funds selected by the company offering the 401k plan making a Traditional IRA more advantageous. Please reach out to mcm@mcdonoughcapital.com if you are interested in opening up an IRA through McDonough Capital Management.

We understand that tax concerns are different after you retire. How can we plan to pay the least taxes when we retire?

You’re right. Taxes don’t go away in retirement, but with smart planning, you can often keep more of your money. We look at your entire financial picture and help you plan when and how to take money out of your accounts. Things like Roth conversions, drawing from different buckets, or managing your income to stay in lower tax brackets can make a big difference. It’s about being proactive, not reactive.

How do you determine which investment strategies are appropriate for me?

We begin with a full review of your financial goals, risk tolerance, and timeline. This helps guide the managed investment options we recommend.

How often is my portfolio reviewed?

We offer quarterly account reviews to help you stay on track with your financial plan, with at least one formal review each year. If your goals change or market conditions shift significantly, we’ll proactively revisit your portfolio together

Estate Planning

What is estate planning, and why is it important for me?

Estate planning involves organizing your financial affairs to ensure your assets are transferred according to your wishes. It can also reduce confusion, minimize taxes, and provide guidance for your loved ones.

Can a financial advisor help with estate planning?

Yes, while we don’t provide legal advice, we coordinate with your estate planner or attorney to align your estate plan with your financial goals and investment strategies

What happens if I don’t have an estate plan?

Without a formal estate plan, state law may dictate how your assets are distributed—possibly in ways that don’t reflect your intentions. It can also delay the process and add unnecessary stress for your loved ones.