401(k) Retirement Plans
This tax-advantaged retirement-savings plan offered by employers is the main way that many people save for retirement. Your contributions to a traditional 401(k) are pre-tax, and the money grows tax-deferred until retirement. Many employers also offer Roth 401(k)s, which do not provide a tax break for contributions, but the money grows tax-free for retirement. Your employer may match some or all of your contributions.
How and Why to Check on Your 401(k)
Just like your car, your retirement plan needs regular maintenance to make sure it will get you where you’re going.
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Traditional accounts – such as a 401(k) or IRA – allow you to contribute pretax dollars or receive a tax deduction, offering a tax break upfront.
Beyond the professional impact, a job change can create ripple effects in your financial life, altering everything from your paycheck and benefits to your tax situation and long-term financial goals.
Your business has grown and now it’s time to establish a 401(k) retirement plan. A 401(k) provides an efficient and easy way for you and your employees to save for retirement. Not to mention there are some great tax incentives too! You can choose from a variety of retirement plans, and each carries its own benefits. Read on for some advice as you dive into setting up your first 401(k) and becoming a fiduciary.
The SECURE Act 2.0 was designed to make saving for retirement easier. This new law is intended to make saving for retirement even easier than before. While not all the changes take effect immediately, the law is designed to encourage workers retirement savings and facilitate access to withdrawals from retirement savings plans.
As you get closer to retirement, there are several ways you can boost your retirement nest egg. Here are some options to consider helping maximize your savings as retirement nears.
It is a little past the first anniversary of the SECURE Act. It was signed into law on December 19, 2019, and what a year it has been. There were many impactful changes, which we will cover so you can better understand your employer’s retirement plan and how best to use it as part of your financial plan.
It’s a New Year and a new you, and nothing would be better than to have health and wealth for many years to come. With that in mind, here are the top three personal finance goals I recommend adding to your New Year's resolutions.
Use these seven principles of psychology to help improve your financial health. These concepts will help identify why you treat money as you do.
Having a defined retirement goal helps shape your overall plan—and offers some wellness benefits.
It’s important to have a plan in place before you retire. But if you’re close to retirement, you can still take advantage of the benefits of tax planning.