Changes are coming that will affect your IRAs, 401(k)s, 529s, and more. Congress passed the SECURE Act (Setting Every Community Up for Retirement Enhancement Act) of 2019 and the President signed it into law in late December. This is a hefty bill with a lot of information, so we’ve outlined…
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Category: Retirement Planning
Critical questions for plan participants: Where are all my funds?
If you’ve moved jobs over the course of your career, you want to make sure that you can keep track of all your retirement savings accounts. Not only do you want to make sure that you have all your hard-earned savings, you also want to make sure that you have…
Critical questions for plan participants: Are my beneficiaries up to date?
Having your beneficiaries up to date is essential because what you’ve saved in your 401(k) is part of your estate plan and should match your wishes for your other assets. To make sure your beneficiaries are up to date, you first need to know who tracks that information at your…
Critical questions for plan participants: Am I invested properly?
If you’re investing in your 401(k) or another retirement savings vehicle, you’re already off to a good start. There is no “right” or “wrong” when it comes to investing, but it does come down to what you feel comfortable with from a risk perspective and when you’re going to need…
Critical questions for plan participants: Should I be looking at Roth contributions?
Roth contributions to your 401(k) are something to consider based on your time-horizon until retirement as well as your current and expected tax bracket in retirement. A Roth 401(k) is an option at some employer-sponsored plans, but unlike a traditional 401(k) it’s funded with after-tax dollars. This means you pay…
Critical questions for plan participants: How much should I be saving?
When it comes to making an investment in your retirement plan, you should aim to save at least enough to get a full employer match, if that is available for you. From there, consider how much you’re able to save from each paycheck. As a rule of thumb, 10 to…
Critical questions for plan participants
A few years ago, we did a Q&A series on critical questions for plan sponsors. We’d now like to revisit this territory and address critical questions for plan participants. Investing and saving for retirement can be daunting; but investing in your employer sponsored plan is a great place to start.…
Do you know where your retirement funds are?
It’s increasingly common that workers move jobs throughout their career, and with pensions largely a thing of the past, the incentive to stay employed at one company has dwindled. A survey from the Bureau of Labor Statistics found that people hold an average of 12 jobs between the ages of 18 and…
Having a higher salary doesn’t make you ready for retirement
You may think of high earners as people who can afford nice homes, expensive clothes and shiny cars. You may think they don’t have to worry about money, but that’s not the case. A recent study reveals that many high earners may be worrying about money come retirement. According to…
Small business owners: Plan for employees retirement and your own
There are 30.2 million small businesses in the U.S. comprising 99.9 percent of businesses in the country according to the SBA. However, data shows that small businesses don’t have retirement plans for their employees, and owners don’t have a retirement plan for themselves outside of selling the business. Of note,…