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Larry McClanahan, CFP®, ChFC, CLU, CASL

Fee-Only Retirement Planner Helping You Successfully Navigate Your Retirement Transition and Beyond

Secondhalf Planning & Investment, LLC

Clackamas

OR

Contact Me

Overview

Services

Advisor Services

  • Financial Planning
    • -Estate Planning
    • -Comprehensive Financial Planning
    • -Retirement Planning
    • -Other Financial Planning
    • -Tax Planning
  • Portfolio Management
    • -Individuals and/or Small Businesses

Funds

Funds Used With Clients

There are no funds listed for this advisor at this time.

Firm Client types

Qualifications

Experience

No timeline events available.
Employer Years Dates
Secondhalf Planning & Investment, LLC 6 years Apr 2013 - Present
Secondhalf Planning & Investment, LLC 6 years Apr 2013 - Present
Kms Financial Services, Inc 7 years, 5 months Jan 2006 - Jun 2013

Designations & Memberships

  • Certified Financial Planner
    Designation
    Certified Financial Planner
    A standard certification for advisors, designees are exposed to nearly 100 topics on integrated financial planning. Major topics include, but not limited to: insurance, employee benefits, securities, state and federal tax, estate tax and planning, asset protection, etc.
  • Chartered Advisor for Senior Living
    Designation
    Chartered Advisor for Senior Living
    Designees are knowledgeable of the unique needs of older clients including the financial, psychological, and sociological issues surrounding the senior community.
  • Chartered Financial Consultant
    Designation
    Chartered Financial Consultant
    Invididuals holding this designation understand the fundamentals of financial planning, including income tax, insurance, investment and estate planning.
  • Chartered Life Underwriter
    Designation
    Chartered Life Underwriter
    A prestigious certification for advisors, designees are exposed to nearly 100 topics on integrated financial planning. Major topics include, but not limited to: insurance, employee benefits, securities, state and federal tax, estate tax and planning, asset protection, etc.
  • Enrolled Agent
    Designation
    Enrolled Agent
    An Enrolled Agent is a federally-authorized tax practitioner who has technical expertise in the field of taxation and is empowered by the Department of the Treasury to represent taxpayers.

Articles and Answers

Insights by Larry Mcclanahan

    *Articles are published by advisors without compensation.

    Answers

    Ask a financial questionAsk a question
    I have a ROTH IRA and now my employer offers a 401k. I can't afford to put money in both. Which should I choose?
    Hi Cece,Typically, when an employer offers a matching contribution to their retirement plan, you'll want to take advantage of that first. It's "free money" after all.But once you've contributed enough to the 401(k) to leverage the maximum match from your employer, then if you still have resources ...  (more)
    Answered Feb 2014
    I am a Canadian citizen living in California & I own Canadian retirement accounts.
    Hello Anne,The short answer is "yes." While the principles of financial planning and investing are universal, there are some major differences between Canada and the US in the areas of taxation, retirement plans, and estate matters (too numerous to list here).People at the cross-border planning fi...  (more)
    Answered Mar 2014
    My husband turned 55 in Feb. Pension balance $44,000. Is there Penalty and Taxes?
    Hello Sadie,Very sorry about your husband's health. Having come from a logging family myself, I understand and can empathize.If your husband quits his current job and you folks absolutely need the pension money, then your husband will want to take the lump sum (called a "distribution") directly fr...  (more)
    Answered Mar 2014
    Where do I start with Retirement Investing?
    Hi Jess,Looks like Rich beat me to the punch while I was composing this...hopefully there won't be too much repetition with these thoughts.Kudos to you in taking steps now to save for retirement! You’ve posed a lot of great questions and I'll take them in the order you asked:• We are considering ...  (more)
    Answered Dec 2013
    How do we transfer ownership of our property from us if we still have mortgage on it?
    Hi Nelly,Happy Holidays to you!Typically when title to a property is transferred before the mortgage is paid off, the Lender then has the right to demand the entire outstanding mortgage balance be paid in full. Check for a "Due on Sale" clause or similar language in your mortgage documents.It may...  (more)
    Answered Dec 2013
    Im a 30 year old actor who doesn't always make steady money. How much should I plan to save for retirement?
    Hi Tommy,Thanks for your question. And great job with your finances so far! While nobody knows the future, I encourage you to put together your best estimate of how long you may be between jobs and what your likely expense needs might be during that time. Let that number drive your decision as to ...  (more)
    Answered Jan 2014
    Can an RIA open a direct sold 529 plan for me with my permission?
    Hello Joseph,Having your adviser sign for you is not a good way to handle this.Context: Unless your adviser has been authorized by you under a Power of Attorney document, s/he cannot sign for you. And if you did appoint your adviser to act on your behalf under a Power of Attorney arrangement, the...  (more)
    Answered Mar 2014
    How do I invest short-term and protect my principal without resorting to using my bank's low yield certificates?
    Hi Marty,My colleagues have given you good ideas on short-term savings vehicles and risk concerns. Here's approaching it from a somewhat different angle...that of your time and effort to earn a miniscule additional return. You didn't mention how much the "chunk" of money is but indicated you'd nee...  (more)
    Answered Mar 2014
    Need to find out info about death claim. Social security sent me info and don't want to have to contact them?
    Hi Lisa,It's not completely clear what you're asking. If you're just wanting to do some online research and avoid getting caught on "hold" phoning the social security administration, then here are some links that may be of help:Information for Applying for the $255 Lump Sum Death Benefit:http://w...  (more)
    Answered Mar 2014
    Buying a first home: Best method for positioning $10,000 401k money for down payment?
    Funds withdrawn from a 401(k) are treated as ordinary income, just as if he'd earned it in salary. Unfortunately, there's no way to obtain long term capital gains tax treatment in your son's situation....  (more)
    Answered Jan 2014
    I have a DB plan that pays me approx 2800 per mth. If I dont need, could I rollover the mthly benefits into a Roth IRA?
    Hello Joe,If you're already receiving $2,800 per month in pension benefits, then you would've made a pension payout election (i.e. pay for your life, pay for joint life with spouse, etc). The election is typically intended to be a permanent, unchangeable choice. You could check with the pension adm...  (more)
    Answered Apr 2014
    If you have investment properties, can you transfer them to a trust and save on your taxes.
    Hello Kris,I think you received incorrect advice. 1) If you transfer ownership of the investment properties to a Revocable Living Trust (RLT), that can help reduce future probate fees when you die and make for smoother administration of your estate, but it will do nothing for income taxes now. Tha...  (more)
    Answered Jun 2014
    Can you start SSN for a year, then stop it and earn more credits for waiting.
    The answer depends on a few factors:Your Full Retirement Age (FRA)When you plan to begin (or when you began) drawing social security benefits, andWhether you are talking about "withdrawing" or just "voluntarily suspending" benefitsPeople born 1943-1954 have a Full Retirement Age (FRA) of 66. ...  (more)
    Answered Mar 2014
    I'm paying a financial advisor 1.5% plus a $750 annual fee to manage my 450K portfolio. Is this too much?
    Hello David,At first glance it looks high to me. But the answer depends on the total package of services you're actually receiving from the advisor and whether it's valuable to you.A few questions you'll want to consider:1) Does the advisor only provide portfolio management and nothing else? Some...  (more)
    Answered Jun 2014
    I received a letter from Soc Sec. I am receiving SS disability and would like to cash in my stock.
    Hi James,Agreed with Andy that more information is needed. Here's a bit of additional context that may be helpful to you:Entitlement-basedSocial Security Disability Income (SSDI), Social Security (SS), and Medicare are all entitlement-based programs. That means, if you meet the requirements and...  (more)
    Answered Dec 2013
    Could I save my commission income from being taxed by contributing to my company 401k plan?
    Hello Marshall,It's likely that you can, but you'll want to check your 401(k)'s Summary Plan Description (SPD), which spells out the rules and parameters for your plan. If you don't have a copy, contact HR or the plan administrator.Many plans will allow participants to make contributions from any ...  (more)
    Answered May 2014
    My husband is covered by a DB plan but I am not-can I contribute to an IRA in my name? Our combined income is 150000.
    Hi Danette,You can contribute to an IRA in your name. The contribution limit for 2013 is $5,500 of earned income ($6,500 if you are age 50+) and is slated to remain the same for 2014.The tax deductibility of the contribution will depend on a few parameters. You mentioned that your husband is activ...  (more)
    Answered Dec 2013
    Gifting money towards a new Car?
    Hello Brandon,Your father-in-law can gift $14,000 to both your wife and to you. Unless you and your wife keep your finances separate, there'd be no second-step need for you to then gift your $14,000 to your wife. The $14,000 gift tax exclusion doesn't apply between spouses who are US citizens.If y...  (more)
    Answered May 2014
    Son has $18000 401k. He no longer works there. Can he roll the money over to an ira and take out $ for home down payment?
    Your son can distribute up to $10,000 from his IRA and use it toward first time home purchase. He will have to include that in his reported income for tax purposes, but will not be subject to the additional 10% federal penalty tax for distributions before age 59 1/2. Hope that helps. Best wishes to...  (more)
    Answered Dec 2013
    My wife currently has two retirements plans with the same fund family: 401k & 403b. Can she roll the 403b into the 401k?
    She can indeed roll her 403(b) into her 401(k) provided the 401(k) plan will accept inbound rollovers. To check that, she should speak with HR or review the Summary Plan Description (SPD) for the 401(k) plan to make sure it's permitted.Hope that helps. All the best!...  (more)
    Answered Feb 2015
    How do you define/differentiate a high net worth individual versus an individual client?
    Hello Dennis,You'll find a variety of definitions and uses of the term "High Net Worth" in the financial industry. And frankly, there are a lot of advisors who misuse the term...which is why there are so many firms with "wealth management" in their name that don't actually provide genuine wealth ma...  (more)
    Answered Mar 2014
    What is the definition of high net worth individuals?
    Hello William,You'll find a variety of definitions and uses of the term "High Net Worth" in the financial industry. And frankly, there are advisors who misuse the term...sort of like how so many firms have "wealth management" in their name but don't actually provide genuine wealth management.I hat...  (more)
    Answered May 2014
    I have a roth ira and received 1099-div, int and b forms. do i need to include in my tax return?
    Hello Cindy,You are correct that earnings within a Roth IRA are not taxable. And if you take a distribution from your Roth IRA, you would receive Form 1099-R (for retirement plans).Forms 1099-DIV, 1099-INT, and 1099-B all report transactions from taxable accounts rather than retirement accounts an...  (more)
    Answered Apr 2014
    Question about my esop plan.
    Hello Jimmie,If you withdraw (called "distribute") your ESOP vested balance, you'll have to claim that as income in the year distributed and will pay income tax on it. If you're under age 59 1/2, you'll also pay a 10% federal penalty tax on it. The plan administer will be required to withhold 20% f...  (more)
    Answered Apr 2014
    Cost Basis for Shares/Funds with a Front Load?
    Hi Colin,It looks like Helen beat me to the punch while I was composing this answer. Sorry if there's a little repetition in what I say here.Thanks for your question. And kudos to you with your sizable investment portfolio at your age!The cost basis of a mutual fund with a sales charge includes t...  (more)
    Answered Jan 2014
    My wife's employer has two retirement plan choices; 401k & Roth 401k. Which is better & more tax efficient? Thanks!!
    Hi Brian,All good information from my colleagues here. But I think the best answer comes from reframing the question: "Which is better and more tax-efficient for YOU (and your wife)?" • Your tax situation -- now and in retirementBoth 401(k) and Roth 401(k) can be good and tax-efficient options. T...  (more)
    Answered Dec 2013
    My inherited IRA only did a 8% gain this year. What would be a smart option to increase its growth?
    Hello and Happy Holidays to you!In addition to some of the suggestions Michael made, I'd encourage you to consider the following....How was your portfolio invested before you told your advisor in July that you wanted to be more aggressive? The S&P500 is up ~ 8.7% (excluding dividends) from th...  (more)
    Answered Dec 2013
    Can my sister sale my deceased mother house without getting approve with her other 3siblings?
    Hello Joseph,Sorry about the loss of your mother.Generally speaking, if your mother was the sole owner of the home when she died and either (1) she left a Will appointing your sister as executor of her estate or (2) your sister has been court-appointed to serve as executor, then your sister would ...  (more)
    Answered Jun 2014
    I need a contact number for whatever company handles Granite Construction 401k?
    Hi Carrie,If you've lost the info for the company that handles Granite Construction's 401(k), your best bet will be to call your former employer's Plan Administrator and ask them for the name/number to call.There's a 2012 401(k) filing for a Granite Construction in Watsonville, CA. The Plan Admini...  (more)
    Answered Mar 2014
    Trust earns income, files income tax return,pays taxes out of trust. Would beneficiaries be liable for income taxes too?
    Hi Sharon,Good information from Augustus. I'd just add a thought, maybe more from a "planning" standpoint....Trusts that exist as a separate taxable entity pay tax on income they retain but not on income that's distributed to the beneficiaries. The beneficiaries pay income tax on that.Federal inc...  (more)
    Answered Mar 2014
    What is best way to invest my TRS retirement?
    Hi Mike,Kyle has already addressed the question of conversion to Roth IRA or rollover to IRA. Here are some further thoughts on investment returns and asset allocation....You mentioned that your TRS return will be dropping from 5% annually to 2%. What you’re describing sounds like what’s commonly ...  (more)
    Answered Dec 2013
    Are there RIAs doing cross-border business advising International clients in Europe and China?
    Hi Larry,Keats Connelly (http://www.keatsconnelly.com) is a US-based wealth management firm with a focus on cross-border planning for the US-Canada crowd, but I'm betting they receive inquiries like yours and may be able to refer you to a US firm or two that serves clients in Europe and China. Migh...  (more)
    Answered Feb 2014
    Trying to confirm basis for multiple mutual funds purchased over time in a college savings trust?
    Hi Mark,Sorry that you’re having to deal with this. Unfortunately, I don’t think any of us here on BrightScope’s Q&A will have happy news for you….If you still have trade confirmations or statements, you may be able to reconstruct the basis. If you had set-up the funds so they’d reinvest distr...  (more)
    Answered Jan 2014
    Withdrawing from my 401K to purchase real estate.
    Hello Edwin,Distributing $35,000 distribution from your 401(k) will be taxable income for both federal and New York purposes, plus you'll be subject to the 10% federal penalty tax for premature distributions. You indicated that you were 53 when you lost your job...you would have had to terminate e...  (more)
    Answered Feb 2015
    2014 Trust exemption for my deceased father's trust - What is allowable exemption (line 20)?
    Hello Thomas,Generally speaking, for 2014 the personal exemption amount is a "whopping" $300 for simple trusts, $100 for complex trusts, and $600 for estates.You're correct that you can deduct the personal exemption amount (and other deductible expenses) in calculating the distributable net income...  (more)
    Answered Jul 2014
    I receive a retirement direct deposit monthly. Is there a survivor benefit for my wife, and if so what percentage?
    Hi Joseph,More information is needed as to the type of financial benefit or account in order to best answer your question. But here are some examples:If your direct deposit is coming from an IRA or employer-sponsored retirement plan (i.e. 401(k), 403(b), etc.), then your wife would need to be de...  (more)
    Answered Jan 2014
    Cantex anuities payout, is it possible? I worked for cantex several years ago. I am retired and age 63 at present time.
    Hello James,If the Cantex retirement plan requires that you wait until age 65 to begin receiving an annuity payout but you need the money now, you have a couple of options.First, you could have the plan administrator cash you out (called a full "distribution"). The account balance at the time of c...  (more)
    Answered Mar 2014
    Is it recommended to leave one's 401(k) with employer upon retirement or roll over to an IRA account?
    Hi Ivory,I echo Rich's comments and would just add a tax consideration. If you roll your 401(k) balance to an IRA this year, you will have until April 1, 2015 to take your first Required Minimum Distribution (RMD). However, that would be 2014's RMD...you'd still have to take an RMD for 2015 itself ...  (more)
    Answered Jan 2014
    How can i get form for tax purposes if i receive retirement benefits?
    In most such situations, the custodian of the retirement plan must send you a Form 1099-R by January 31. You may need to contact the custodian if you don't receive it by February 10 or so. ...  (more)
    Answered Jan 2015
    Is it a good idea to put my earnings from sold stock into my IRA then take that money out as a loan from the IRA?
    Hi Jonathan,There are lots of "moving parts" to your question so let me tackle the components and then offer some thoughts on what it sounds like you're trying to achieve.If you sold the individual stock at a gain (outside of an IRA or Roth IRA), the capital gains will be taxable regardless of wha...  (more)
    Answered Jan 2014
    Can I roll over a Roth IRA to a Roth CD without penalties?
    Hello Deborah,We often use financial industry jargon like "rollover" and "transfer" interchangeably. But what you're describing is technically a transfer from your current Roth IRA (and whatever it's invested in) to a new Roth IRA that will invest in CDs. Think of it as a transfer between two "box...  (more)
    Answered Apr 2014
    Safe Harbor 401k and Highly Compensated Employees?
    Hi Jim,Sounds like you may have been given incorrect information....A Highly Compensated Employee (HCE) is one who either (a) owned 5% or more of the company during the year or preceding year, or (b) received $115,000+ in compensation from the business for the preceding year (becomes $120,000 when...  (more)
    Answered Jan 2015
    Is it worth combining my 401k's when they both seem to be doing about the same? Additional investments on top of 401k?
    Hello Brett,If your current 401(k) with Fidelity offers a good range of investment options, then consolidating into it makes good sense. While investment expenses do matter, the difference in performance you experience between Fidelity and T. Rowe Price will have very little to do with the company...  (more)
    Answered May 2014
    170K annuity for MIL, 77. Take 1650/10 yr, or 1150/10 yr + lifetime? Can lock @ 3%. Take 10/yrs, or 10 plus lifetime?
    Hello Eric,More information is needed to provide a good answer. For example:1) Your mother-in-law is in good health, but is their longevity in her family background? Does she have reason to believe she'll live well beyond life expectancy such that the lifetime payout would be most attractive?2) H...  (more)
    Answered May 2014
    Deceased Brother. I am the only remaining family member. How to go about getting his 401k info.
    Brad,I'm very sorry about your brother...wishing you comfort and peace in your loss.You may have to do a fair bit of "detective work" regarding your brother's financial affairs because unfortunately there's no centralized repository for orphaned 401(k) accounts.Probably the first step--IF you are...  (more)
    Answered Mar 2014
    I have a UIL policy that earns cash value. The policy cash value is barely 3000, only have had it for 2 years.
    Hello Jessica,Unfortunately, you can only borrow from cash values, not from death benefit. And if you did, you'd need to make sure that any such borrowing didn't put the policy in danger of lapsing.I'm curious what your actual life insurance needs are. Do you have debts that would need to be paid ...  (more)
    Answered Jun 2014
    I receive survivor direct deposit monthly will they stop if I remarry I am 63?
    Hello Terri,Social Security survivor benefits continue to the widow or widower if they remarry after reaching age 60. If you're receiving a survivor benefit from an annuity, then remarriage has no affect on the benefit....  (more)
    Answered Jun 2014
    I have 3 IRAs with 3 different firms, invested in 30+ stock funds. Would consolidation be a good move or will fees hurt?
    Hello Reed,I agree with the consolidation focus of my colleagues and won't duplicate what they've already covered.But I'd like to respond to the question that you DIDN'T ask...and that's regarding your asset allocation in the current market environment, especially since you're only seven years fro...  (more)
    Answered Mar 2014
      *Answers are submitted by advisors without compensation.

      Licenses & Conducts

      SEC
      U.S. Securities and Exchange Commission
      • license status
        Registered
      • disclosures
        None
      • as of date
        Jan 17, 2019
      FINRA
      FINRA
      • license status
        Not registered
      • disclosures
        None
      • as of date
        Jan 17, 2019
      Review the status and details of the disclosures noted above using the SEC's Investment Advisor Public Disclosure website:

      Assets

      Advisor

      Last updated on Jan. 18, 2019
        • $12.6M
          Total Assets Under Management
        • $0
          Total Assets Under Advisement
        • 35
          number of clients
        • $360.1K
          Estimated Average Account Balance Per Client

      Secondhalf Planning & Investment, LLC

      Last updated on Sept. 18, 2017
        • $10.2M
          Total Assets Under Management
        • $0
          Total Assets Under Advisement
        • 35
          number of clients
        • $291.6K
          Estimated Average Account Balance Per Client

      Fees

      Fee Only Advisor
      $
      This advisor has certified that they are compensated soley by their clients, and do not accept commisions or compensation of any kind based on the products they recommend.

      Types of Compensation Arrangements