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Category: General Blog

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5 Must-Know Details about Your 401(k) Plan

If you’re confused by your 401(k) plan, you aren’t alone.   According to a J.P. Morgan 2021 Defined Contribution Plan Participant Survey, 401(k) investors are “overwhelmed and unsure about the various aspects of retirement planning.”¹ In fact, 52% feel they are presented with more plan information than they can absorb.² Perhaps this is why 51% of… Continue reading 5 Must-Know Details about Your 401(k) Plan

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16 Tips for Encouraging Kids’ Good Financial Habits

Parents should be intentional about teaching their kids good financial habits because, if they don’t, no one else will. According to Next Gen Personal Finance, a high school personal finance curriculum company, only 16.4% of U.S. high school students are required to take a personal finance course.¹ And Nitro, a student loan educational website, recently… Continue reading 16 Tips for Encouraging Kids’ Good Financial Habits

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Is It a Bad Idea to Borrow from My 401(k) to Get a House?

“Should I borrow from my 401(k) to get a house?” is a question that comes up quite a bit, especially with first-time homebuyers. It’s understandable because it can be difficult for many first-time homebuyers to accumulate enough savings to make a down payment.  It’s standard for banks to require as much as 20% down, and… Continue reading Is It a Bad Idea to Borrow from My 401(k) to Get a House?

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Are You Saving Enough to Cover These Retirement Expenses?

When it comes to retirement planning, there is often a big discrepancy between how much money people think they need and how much they actually need. And so, year after year, investors fund their retirement accounts based on how much they can afford to save now, rather than really understanding how much they may need… Continue reading Are You Saving Enough to Cover These Retirement Expenses?

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Traditional 401(k)s Vs Roth 401(k)s: Which One Is Right for Me?

Planning for retirement may include choosing between traditional and Roth 401(k) plans. Unless you are a financial advisor or have spent a significant amount of time reading up on both, it may be difficult to understand the difference between a traditional 401(k) and a Roth 401(k). Not to worry. We’ve got you covered. Read on… Continue reading Traditional 401(k)s Vs Roth 401(k)s: Which One Is Right for Me?

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Reality Check: Why You Need to Talk to Your Child about Paying for College

School is starting around the country, which means millions of young adults will be paying for college. And college isn’t cheap. According to Fidelity Investment’s 2021 College Savings and Student Debt Study: For the 2020-2021 academic year, the average cost at a private, nonprofit 4-year college was $54,880. The average cost per year for a… Continue reading Reality Check: Why You Need to Talk to Your Child about Paying for College

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Will Personalized Professional Help Really Make a Difference in My 401(k) Performance?

Not taking full advantage of your 401(k) – whether it’s because you don’t understand it or you’re taking a set-it-and-forget-it approach – may have serious consequences at retirement.  If you’re concerned your 401(k) is not going in the direction you’d like or you want the potential for greater returns on your hard-earned money, personalized professional… Continue reading Will Personalized Professional Help Really Make a Difference in My 401(k) Performance?

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Should I Prioritize Retirement Savings over My Kids’ College Tuition?

As parents, we make it our goal to take care of our children, protect them from harm, and help them succeed. So, it is no surprise many parents are unsure if they should put their retirement savings over kids’ college tuition or vice versa. Especially when you consider the rising rates of college tuition. Consider… Continue reading Should I Prioritize Retirement Savings over My Kids’ College Tuition?