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The Future of Business is Changing
Read more from our writers on how we think our future business world and what you can do to prepare for the change.
Best Ways to Produce Passive Income for Retirement
Instead of working for your money, make your money work for you – passive income should be everyone’s goal. For most of us, we spend several decades working to earn a living and spending most of what we bring home. But if we are able to put some of that income aside, we can start making that money work for us by growing and eventually producing its own income stream that we can enjoy without having to put in the hours at work.
What Is the Difference Between Legacy Planning and Estate Planning?
Estate planning and legacy planning. Maybe you’ve heard these terms used in financial settings, often interchangeably. Many people think of “legacy planning” as a softer name for “estate planning.” But the two actually mean different things.
Alternatives to a 401k
One of the most important things to think about when it comes to retirement is whether or not retirement is a financially viable option for you. This means that over the course of your working life, you should be investing in some kind of retirement plan. Traditionally, this would be a 401(k), but the options are endless! Here are just a few:
The Pros and Cons of 401(k)s
If you’ve worked for a medium or large company, chances are good you’ve heard of or have a 401(k) plan. It’s the most popular retirement savings plan in the U.S. A 401(k) plan is a retirement savings plan sponsored by one’s employer. It allows employees to set aside a percentage of their income to save for retirement, usually through direct deposit.
Real Estate Investments as Alternative Retirement Income
No matter how well you think you’ve prepared for retirement, you’ll likely always wonder if there’s more you could do. As it turns out, there is-- investing in real estate can be a great way to continue to make money in retirement and keep yourself busy! However, investing in real estate can also be risky business with a lot of pros and cons.
What Could President Biden’s Proposed Changes to 401(k) Plans Mean for You?
The 401(k) plan was introduced in 1978, and since then has become one of, if not the, most popular retirement plan in the US. 401(k) retirement plans are offered by employers, and give employees the opportunity to save for retirement while they earn. 401(k)s also offer a tax break on employee income—income set aside in a 401(k) is not taxed until it is withdrawn years later. Some employers will match a percentage of an employee’s contribution incentivizing the use of these plans.
Why You Should Consult with a Financial Planner for Retirement Planning
401(k) Plans Explained
401(k) plans have been around since the late 1970s and have become an integral part of almost every single career known to man. However, there are many people that get bogged down in all of the details of what these plans actually are. If you are one of those people, you’re in luck! We’re going to break it down for you.
Retirement Planning Under the CARES Act
RETIREMENT planning is a complicated affair at the best of times, but new measures introduced during the Covid pandemic have created even more things to think about. The CARES Act, rushed through Congress earlier this year to bring a relief package to Americans, covered many different aspects of our lives.
Pilfering Your Pension During the Pandemic
TIMES are unusual for certain, and many of us are concerned about our monthly cash flow – incomes may have dried up, but outgoings have not. But if we do not want to run up credit card debt to pay for our utilities, where else may we get our hands on some accessible cash? Many of us have savings in our retirement accounts – 401k or IRA accounts – and there are ways to access this money.
How COVID-19 Has Affected Retirement Planning
The Coronavirus pandemic has adjusted the trajectory of nearly every facet of our individual and collective lives, and planning for retirement is certainly no exception. Mass layoffs and a near-total lockdown on business activity in the United States have market shareholders on edge, and you're probably already anticipating that the pandemic will affect your retirement planning, too.
The What, Who, and How Much of ERISA Bonds
Designing a retirement plan for your company that maximizes the benefits to both you and your employees is a complex and multi-layered task. You have options ranging from a Defined Benefits Pension Plan to an employee-directed 401(k). But, whichever retirement package or packages you decide to offer, the most important thing is that you protect both your business and your employees from losses due to theft or fraud, because it won’t matter which retirement products you can offer to your employees if their money is not protected.
Post-Pandemic: Maintaining and Growing 401(k)s in the New Economy
The number of companies offering pensions has decreased dramatically in recent years, and the prevalence of employers opting for a 401(k) in their place is projected to continue to flourish in a world on the other side of the Coronavirus. If you have a 401(k) retirement savings plan, the effort to predict how a post-pandemic economy will affect your nest egg has probably been top of mind.
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