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…
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Category: Retirement Planning
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,…
Saving for retirement isn’t your emergency fund
Saving for retirement early on in your career is something we stress to clients, friends, family and anyone who will listen. Getting on track for your financial future is really key and using the power of compounding can greatly improve your financial status in your post-working years. But, it’s important…
It’s National Retirement Security Week: Are you on track?
When planning for retirement, most people just want to know: Am I going to be OK? Feeling financially secure in retirement is of the utmost importance for those nearing their golden years. This week is National Retirement Security Week, which allows us to focus on retirement preparedness, how pre-retirees can…
Making moves: Financial considerations for retirement relocation
Retirement is a time full of new choices and exciting change. One of the biggest changes we often see individuals and couples make is opting to move across state lines, or even abroad, where they can start fresh and enjoy their golden years in a new location. However, as with…
Tackling debt before and during retirement
When anticipating retirement, advanced planning is the common thread that binds your financial future together. Therefore, managing debt during retirement is easier when you have a plan. Approximately 10 years before retirement, reassess your financial position and create a feasible plan to pay down consumer debt -- that includes credit…