Archive for the ‘Uncategorized’ Category

Creating 5 Yr Action Plan For Retirement

Tuesday, May 21st, 2019

Start with your current financial situation, specifically pay attention to how you can start to maximize your income and begin to reduce your expenses. For a lot of people, planning for retirement normally starts about five years ahead of schedule.

Below is a helpful guide on areas that you should focus on. [It is important to note that this is to give you an idea only and should not be the only checklist used].

Five Years to Retirement Date (more…)

How to include funds that consider ESG in your portfolio?

Thursday, May 16th, 2019

The companies you choose to invest in can matter to you just as much as the financial results. Many 401(k) plans offer funds that incorporate environmental, social and governance (ESG) criteria as well as financial fundamentals in their investment process. Studies show that a growing number of investment managers consider ESG factors when selecting companies for investment.

To learn how to incorporate more ESG exposure into your portfolio, talk to your plan administrator or HR department.

Providing Financial Education To Employees

Tuesday, May 14th, 2019

A 2019 goal for some Plan Sponsors is to provide financial education to their employees. There are many companies and individuals providing financial education to their employees. How do they know the right one to pick for their company?

When employees have a better grasp on budgeting and other financial basics, they may be better equipped to save for retirement and the other big financial demands we all face.


Good Window of Opportunity for Roth IRA Conversions

Thursday, May 9th, 2019

The Roth IRA is a powerful tax-favored retirement option since it can offer a hedge against future tax-rate increases. But beyond tax planning considerations, Roth IRAs have several important advantages over traditional IRAs:


Getting the Holdouts into the Plan on 2019 Agendas

Monday, May 6th, 2019

Wondering where plan sponsors will be focusing their interest and efforts in 2019? We turned over a few stones on the Web and found some ideas. Here are two of them: (more…)

First-time Home Buyers Rely More on Family for Mortgage Help

Sunday, May 5th, 2019

The way that people are financing their first home purchase is changing. More than 26% of mortgage borrowers who used FHA-insured loans received help from a relative to make the down payment, according to 2018 FHA data reported by the Wall Street Journal. That number is up from 22% in 2011.

Rising home prices and interest rates made it difficult for buyers to save enough for down payments — not to mention generally higher debt loads from college loans.7 Further adding to borrower stress is the fact that the gap between owning and renting continues to widen, according to Freddie Mac.8

Balancing Act: Income, Expenses and Withdrawals

Sunday, May 5th, 2019

In projecting what you’ll need to save in order to generate enough retirement income, it helps to (1) prepare a realistic household budget and (2) understand what types of expenses you’ll have once you stop earning a regular paycheck.


Depending on Social Security?

Sunday, May 5th, 2019

If you’ve ever read the fine print on your annual Social Security statement, you’ll see it written in black and white: “Social Security benefits are not intended to be your only source of income when you retire.” But here’s the real clincher: “The law governing benefit amounts may change because, by 2034, the payroll taxes collected will only be enough to pay about 79% of scheduled benefits.”


Helping Employees Choose Funds

Sunday, May 5th, 2019

Employees sometimes get so stressed trying to understand the funds that they give up and “just pick one.” Here are suggestions on how you can simplify the offerings and help your employees understand those that are available.

The first suggestion is to work with your plan’s advisor to develop an IPS, or Investment Policy Statement. It will (more…)

What 401 (K) Records Do You Need to Keep?

Sunday, May 5th, 2019

Just as you do with your personal income tax documents, you need to maintain records related to the plan. This is for a couple of reasons, one of which is being ready to defend actions and decisions if the plan is ever audited. We suggest you review the IRS and the DOL websites for complete information about what you need to keep and for how long.