The Do’s and Don’ts of IRA Investing

RetirementApril 3, 2017

An Individual Retirement Account, more commonly known as an IRA, is a standard savings account approved by the IRS that grants significant tax advantages for users. While retirement is the most common way people use IRAs, it’s not the only way IRAs can be used. In this post, we explore the other ways IRAs can be used like for the down payment of a house, to cover college education costs, for medical expenses, as a tax-free gift to beneficiaries, as disability income, or even to purchase investment properties.

Getting Ready to Retire? Consider these 3 Tips to Successfully Transition into Retirement

RetirementMarch 27, 2017

Today, the average American retires between age 62 and 65, with most people leaving the workforce at 63. If you’re nearing your mid-to-late 50’s, you may be starting to seriously consider when to retire and what steps you’ll need to take now to ensure you’re financially prepared when you do retire. Consider these 3 Tips to Successfully Transition into Retirement.

How to Successfully Manage Your Finances During Career Transitions

UncategorizedMarch 20, 2017

Switching careers can be an extremely stressful time for you and your family. With career transitions come change and uncertainty. Here are some tips on how successfully manage your finances during career transitions.

How Much Does Your 401(k) Plan Cost Participants?

BlogMarch 17, 2017

As important as retirement planning is, it’s surprising that more people do not know how much their 401(k) savings plan costs them. In fact, according to a survey by the National Association of Retirement Plan Participants (NARPP), nearly 58% of plan participants do not know how much they’re paying in plan fees. Additionally, of the…

Successful Strategies for 401(k) Plan ‘Roll-ins’

BlogMarch 13, 2017

Ensuring lifelong participation in 401(k) plans is beneficial to both plan sponsors and participants. The idea of plan ‘roll-ins’ allow previously existing 401(k) and other IRA retirement plans to easily roll into a new plan once a beneficiary is eligible in a new employer-sponsored plan. The idea of creating a smooth process for these roll-ins…

Understanding Your Life Insurance Policy: Term vs Permanent Life Insurance

Financial ServicesFebruary 28, 2017

Life insurance is an important component in a diversified financial portfolio. While it may be a difficult conversation to have with your loved ones, it’s an important and necessary one. We may not like discussing our own death but ensuring our families are taken care of and supported is paramount, especially for families with children. The first step is to understand which type of life insurance policy fits best with your situation. In this post, we explore the various types of life insurance policies including term and permanent options including whole, universal, and variable options.

Keeping Up with the Fiduciary Ruling

Financial ServicesFebruary 24, 2017

On February 3rd, President Trump issued an executive memorandum requiring review of the previously instated Department of Labor fiduciary ruling. In the memorandum, President Trump tasked the Department of Labor to fully review the ruling to assess if it would ‘negatively affect’ investors ability to access retirement information, offerings, product structures, or related financial advice.

4 Financial Planning Considerations Before Getting Married

Financial Services, MarriageFebruary 21, 2017

Congratulations, on your upcoming marriage! Along with making wedding plans, there are many considerations to discuss with your soon-to-be spouse; one of the most important is financial planning. In fact, a 2016 study found that 31% of married participants reported arguing over finances at least once a month. The most common points of disagreement: major purchases, decisions about finance and children, a partner’s spending habits, and important investment decisions. Before you walk down the aisle, have an open and honest conversation with your spouse about your joint finances.

Automatic Enrollment Increases 401(k) Participation in Small Plans

BlogFebruary 15, 2017

When Congress passed the Pension Protection Act (PPA) in 2006 the primary focus was on defined benefit plans designed to protect pension plans funded by employers. Defined contribution plans like 401(k) plans, however, were also largely affected by the legislation. In fact, the act created plan incentives to help employers and employees reap more benefits…

Tips for Talking with Your Kids About Finances

Financial ServicesFebruary 10, 2017

Understanding finances and having a healthy relationship with money is vital to being a successful adult. And, yet, often children are not being taught important financial information about money from their parents. In fact, a 2016 T. Rowe Price survey found 71% of parents are reluctant to talk about money with their children. And only 22% of kids say they talk with their parents “frequently” about money. Having an open dialogue with your children about finances is important to prepare them for success in the future. As uncomfortable as it may be to discuss finances with your children, you need to do it. In today’s post we share specific tips for talking with your kids about the importance of saving for their future and utilizing smart investment tools and strategies.