Traditional vs Roth 401K

March 8th, 2018

Did you know that both a traditional and Roth 401(k) allow you to contribute regularly for retirement?

With a traditional 401(k), you don’t pay taxes in the year you put it into the account. You will have to pay income tax on your contributions and earnings when you take the money out. With the Roth option, you pay taxes on the money before it goes into your account, but you generally won’t be taxed on your contributions or gains if you take a withdrawal after five years.

Think Before You Give

February 12th, 2018

Think before you give: Four situations where you may not want to split everything evenly among children.

During my childhood, the holiday season was the main time my relatives gathered together, both immediate and extended family. Most times it was at my nanna’s house with all my cousins – sixteen of us squeezed around two tables [the adults’ table and the kids’ table], enjoying a meal, having a laugh and perpetuating a great family tradition. Read the rest of this entry »

Getting the Message: Younger 
Workers “Crushing It” 

January 30th, 2018

When it comes to saving, workers under the age of 52 seem to get it. Millennials and Gen Xers seem to be acting on the message that saving for retirement should be a priority.

Among this group, those who are saving 90% or more of the maximum allowed by the Internal Revenue Code in their 401(k) account say retirement is one of their main savings goals. In fact, more than twice as many pointed to retirement as their savings goals than said the same about raising a family, which came in at 40%.
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What To Know About Medicare Eligibility

January 30th, 2018

Many have said they look forward to the day Medicare takes over all of their health care expenses in retirement. Others are concerned because they understand they will still have health care costs once they retire. Read the rest of this entry »

Eight Habits Of A Wealthy Person

January 15th, 2018

Lots of articles are being written that clearly show the rich are getting richer. They also describe how the middle class [meaning the majority of us] are working harder and longer than we did a decade ago but, ironically, have less disposable monthly income. There is an ever-expanding gap between the wealthy and the middle class, and the increasing number of “have nots” is never a good sign for the economy. Read the rest of this entry »

Mixing It Up: Income Planning

January 9th, 2018

Here’s a primer on how to tap various sources of income in retirement.

To enjoy a long and comfortable retirement, you may need to balance multiple types of income streams in your retirement portfolio. This could help you achieve the most advantageous mix of investment growth, income and tax control that’s appropriate to your risk tolerance, income horizon and goals. These streams can come from the following types of investments:

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Choosing Investments in Your 401(k)

January 2nd, 2018

Five guidelines to use when selecting funds for your plan.

When you participate in a 401(k) plan at work, or a 457 or 403(b) plan if you work at a non-profit or government agency, you are responsible for choosing investments in your plan from a range of stocks, bonds and mutual funds selected by your employer. Here are five helpful tips to do that: Read the rest of this entry »

Financial Wellness Reaching Majority Status

January 2nd, 2018

Your company is likely among the majority that not only want to help employees with their non-retirement financial matters but also are offering tools to make it happen. That statement can be made with some degree of confidence, because according to the Aon Hewitt 2017 Hot Topics in Retirement and Financial Wellbeing report, 59% of employers recently asked said they are very likely, with another 33% moderately likely, to focus on overall financial wellbeing among employees. That’s a very strong showing of more than 90%. Helping employees take charge of their financial lives isn’t a new idea, of course. But it seems to be gaining more popularity each year; 60% of organizations say they believe financial wellness has increased in importance within their organizations in the last two years. Read the rest of this entry »

How to Save $3,000 This Year

December 19th, 2017

Making thrifty decisions can become a regular habit that adds up. We all know how difficult it is to put aside money for the future when there are so many competing claims on your income. Small wonder that half of American households currently have no savings for when they stop working.

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Enthusiasm and Trust High for 401(k) Plans

December 19th, 2017

When it comes to saving for retirement, Americans love their 401(k) and other defined contribution (DC) plans. They demonstrate it with money and participation: As of late 2016, about 54 million Americans were active participants in DC plans, which collectively held more than $5 trillion in assets.

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