You probably do not think about your financial wellness in the same way you think about your healthcare. Most people do not, but there are plenty of good reasons why you should. The holistic approach you employ to achieve a higher standard of physical and mental well-being are similar to that you might apply to your financial wellness.
For certain small business owners, a Safe Harbor 401(k) can represent a uniquely attractive option. By adding a Safe Harbor provision to a 401(k) plan, an employer can avoid top-heavy rules and non-discrimination tests and still offer the company’s highly compensated employees a chance to max out their retirement contributions.
You may have heard somewhere, probably on an online ad, that it takes more than a million dollars to retire. Whether or not that is true (it is not), many people feel they are not putting enough money away to last throughout retirement.
When it comes to planning for retirement, both 401(k)s and Individual Retirement Accounts, commonly known as IRAs, offer terrific benefits. And, guess what? You can contribute to both at the same time.
If you find yourself worried about falling stock prices – but you do not want to miss out the market’s inevitable turnaround — here is a tried-and-true investing strategy to consider.
If you are fortunate enough to have access to a 401(k) plan, then you have a real opportunity to sock away some meaningful dollars for retirement. These employer-sponsored plans allow you to contribute up to $19,500 in 2020. Some employers will also match some of your contributions, which means free money for you.
It is probably fair to say that most folks know that a company-sponsored retirement plan is one of the most powerful weapons they can have in their investment arsenal. Yet we know that many are stressed out about their 401(k) plan. Why? Because while a company might provide a way for you to save for retirement, its job is not to help you manage the investment risk in your account.
When you are planning your own retirement, you will want to build a portfolio that earns the highest return for the least risk. Diversification is the best way we know to help you capture returns from a mix of investments while protecting your balance against the risk of a substantial downturn in any one asset class.
Chances are that you have heard about various 401(k) benefits by now, but you might not understand exactly how a company-sponsored retirement plan can help build your financial future. We might suggest that the more you know about 401(k)s, the more you will be able to take advantage of those 401(k) benefits.
In today’s competitive marketplace, most employers offer 401(k) plans to help their employees plan for retirement. In fact, many offer two different options: the Traditional 401(k) plan, and its close cousin the Roth 401(k).
