The need for solid business strategy planning becomes painfully clear in a crisis. The Covid-19 pandemic has posed a threat – not only to the physical health of individuals but also to the economic survival of many closely-held businesses. The nation has been put into a medically induced economic coma,…
Blog
Category: Retirement Planning
We don’t plan to retirement, we plan through retirement.
The Coronavirus pandemic and corresponding level of market volatility have caused everyone to review and re-evaluate their capacity for risk. This reminds me of a key tenant of retirement planning and a core concept of determining an appropriate Investment Policy: “We don’t plan to retirement, we plan through retirement.” Click…
Should you work past your retirement age?
It’s common for investors to hear that they should delay retirement and work for an additional few years. Although the benefits and implications that come along with working past retirement age may seem obvious, it doesn’t always register how age can impact retirement savings. The amount of money they’ll need…
New SECURE Act Retirement Changes: What do these changes mean for me?
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…
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.…
