The Difference Between 529 College Savings Plans and UGMA/UTMA Custodial Accounts

EducationJanuary 27, 2017

As parents we want to give our kids the best possible head start financially. For many of us that means turning to investment vehicles designed specifically with minors in mind; two of the most popular are the 529 Education Savings plan, most commonly referred to simply as the 529 plan, and the saving account provided by the Uniform Gifts to Minors Act (UGMA)/Uniform Transfers to Minors Act (UTMA). Both of these options offer ways for parents to begin saving for their children and for the accounts to eventually transfer ownership to the designee. In today’s post we explore the pros, cons, and specific functions of these two popular accounts to help you choose the right one for your child.

9 Considerations for 401(k) Plan Sponsors in 2017

BlogJanuary 19, 2017

With changing markets, the current political landscape, and new industry regulation, it’s important for 401(k) plan sponsors to actively manage sponsor plans. Today’s employee faces more challenges than ever before; in fact, retirement, once considered the pinnacle of financial goal-setting, is now one of a myriad of issues the modern employee faces. Additional monetary concerns…

4 Things to Know About ‘Robo-Advisers’

Financial ServicesJanuary 10, 2017

In recent years, the rise of ‘Robo-Advisers’ or automated investment services has become increasingly popular. Services from firm’s like Betterment and Wealthfront offer low-cost options to automate financial investing. In reality, these processes may be too simplified; many involve easy sign-up processes, quick user surveys, and blanketed financial plans for the masses. While these services undoubtedly provide valuable insights, we caution using a one-plan-fits-all approach to personal financing decisions. In today’s post, we share four considerations for using robo-advisers.

How to Save Your First Million on an Average U.S. Income

RetirementJanuary 3, 2017

According to recent statistics by the U.S. Census Bureau, in 2014 the average American household brought in on average nearly $73,300 per year. This number is sharply contrasted by the median household income of $53,719 reported in the same year. These numbers tell us that while the average income level of all Americans is increasing, the median is not; which means there are a small percentage of high-income households who are skewing the average to be above the median.

Should I Own a Certificate of Deposit (CD)?

Financial ServicesDecember 30, 2016

There are several vehicles available for investors to use to save money. One of the most straight-forward options is the certificate of deposit. These low-risk options are ideal for investors who want to utilize the benefits of compound interest while keeping assets fairly liquid. They’re also a great tool to introduce new or young investors to the benefits of saving.

5 Things to Consider During Employee Annual Performance Reviews

BlogDecember 21, 2016

This time of year can be particularly stressful for businesses. From hitting year-end sales targets to preparing yearly financial reports, the last quarter of the year often presents unique challenges. One of those challenges is executing and utilizing year-end reviews for employees. This important yearly task is used to access performance levels, set goals, and…

What You Should Know About Building Up Your Credit Score

Financial ServicesDecember 14, 2016

The key to rebuilding your credit or increasing your rating is understanding how credit scores are determined and using strategic techniques to boost scores. In today’s post, we examine what you should know about building up your credit score.

4 Things to Know About Defined Benefit Plans

BlogDecember 4, 2016

1. Defined Benefit Plans Reward You for Years of Service. Defined benefit plans are pension plans that reward employees based on years of service and associated salary earned. These retirement schemes pay out a set dividend amount upon retirement for the remaining life of an employee. Alternately, defined contribution plans are retirement plans that establish…

What is a Cash Balance Pension Plan?

BlogNovember 30, 2016

A cash balance pension plan is a type of pension plan provided by employers to employees of a company. This type of plan credits an employee’s account with a set percentage of his or her yearly compensation plus interest charges. A cash balance plan is often referred to as a ‘hybrid’ pension plan because the…

What is the Difference Between a Stock and a Bond?

Financial ServicesNovember 30, 2016

In today’s post, we’re examining the difference between stocks and bonds and how they relate to risk level and your end goals.