Objective information about financial planning, investments, and retirement plans
After many years of historically low inflation rates, it now appears that inflation is back. While inflation hits everyone, it can be especially hard on retirees. As we begin to emerge from the economic impact of COVID-19, we have begun to see … [Continue reading]
Deciding to hire a financial advisor can be a tough decision for many investors. Once you've made this decision, how do you go about finding the right advisor for you? Here are six questions to ask when choosing a financial advisor: How do you … [Continue reading]
Companies will use buyout packages for groups of employees from time-to-time to provide those employees an incentive to leave the company. The company may have a variety of reasons behind their desire to reduce their workforce, such as reducing … [Continue reading]
The first wave of Baby Boomers hitting age 70 ½ began in 2017. This was the age when required minimum distributions had to begin for those turning 70 ½ on or before December 31, 2019. The SECURE Act, passed at the end of 2019 has raised the age to … [Continue reading]
With the release and subsequent repeal of the Department of Labor’s fiduciary rules for financial advisors dealing with client retirement accounts, much of the focus in recent years has been on the impact on advisors who provide advice to clients for … [Continue reading]
With the new year upon us, it’s a good time to be sure you understand the contribution limits for various retirement plan options so you can contribute as much as possible. As you look at your financial planning for 2021, you will want to maximize … [Continue reading]
One of the best tax deductions for a small business owner is funding a retirement plan. Beyond any tax deduction you are saving for your own retirement. As a fellow small businessperson, I know how hard you work. You deserve a comfortable … [Continue reading]
For many of us, our 401(k) plan is our main retirement savings vehicle. The days of a defined benefit pension plan are a thing of the past for most workers and we are responsible for the amount we save for retirement and how we invest that … [Continue reading]
The past couple of years have been a roller coaster ride in the stock market. The S&P 500 lost 4.38% in 2018 mostly from a poor fourth quarter performance. The market recovered nicely in 2019 with the index posting a 31.49% total return for the … [Continue reading]
According to Fidelity in an update released in February of this year, the average balance of 401(k) plan participants stood at $112,300, up 7 percent from the balance at the end of the prior quarter. This data is from plans using the Fidelity … [Continue reading]
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