Americans are known for being some of the most generous people on Earth. In fact, according to the CAF World Giving Index, the US was the most charitable nation over the past decade. Since the stock market is near record highs, unemployment is low, and the US economy continues to grow; it would be expected for the giving trend to continue. However, at first blush this may not be the case
As financial advisors we are always encouraging our clients to save more for retirement. We find that it's often best to set up the savings to come directly out of your paycheck so it's out of sight, out of mind. That's why we're so excited that contribution limits are increasing for many retirement savings plans in 2020.
We recently presented a webinar on Elder Fraud. In this post we explore some of the highlights from the webinar.
Your company offers a 401(k) to save for retirement. Great! But what if you need those funds sooner? Accessing 401(k) money before retirement can be a challenge. For better or worse, the IRS has issued new rules that make it easier to tap those funds for other reasons. Here's what you need to know about the changes coming to 401(k) withdrawals starting in 2020.
If you do any amount of research online, you'll find financial advisors everywhere touting the benefits of the Roth retirement account. However, what is often less discussed are the differences between the Roth IRA and the Roth 401(k). What exactly are the differences, and how does this impact your retirement savings? There are pros and cons to each and they're not as similar as you might think.
Who does your advisor work for - you or their company? This question used to be muddled by brokers offering to be your ‘trusted advisor’, when in fact they were paid on commission by their company for selling you financial products (insurance, annuities, mutual funds). Well, the landscape just got even more muddled with new rulings by the Securities and Exchange Commission (SEC) and the Certified Financial Planner Board of Standards, Inc.