Insurance Services

Advisory Services

Category: Retirement Savings

Published
Categorized as Retirement Savings, Retirement Tips

IRS Announces 2-Year Delay to 401(k) Catch-Up Contribution Changes

The IRS recently announced a 2-year delay to the planned changes in catch-up contributions in 401(k)s and Thrift Savings Plans.  The new rule requiring high-income investors to make catch-up contributions only to Roth 401(k) accounts will not take effect until 2026. This update comes as a relief to many who were concerned they might not… Continue reading IRS Announces 2-Year Delay to 401(k) Catch-Up Contribution Changes

Published
Categorized as Retirement Savings, Retirement Tips

Balancing Debt and Retirement Savings in 2023

With today’s economic landscape characterized by persistent inflation and rising interest rates, it’s no surprise that American households are feeling financial pressure.  This has many Americans grappling with crucial financial questions:  Should I pull back on my retirement savings contributions?  Should I focus on paying off debt instead of saving for retirement?  How do I… Continue reading Balancing Debt and Retirement Savings in 2023

Published
Categorized as Retirement Savings, Retirement Tips

Big Catch-Up Contribution Changes Coming in 2024

Starting in 2024, new rule changes to 401(k) catch-up contributions go into effect for investors ages 50 and over.  These changes impact not only where you can save more, but also if you’re even able to.  Some might argue this new law is essentially a tax increase. And that hurts investors who are closer to… Continue reading Big Catch-Up Contribution Changes Coming in 2024

Published
Categorized as Retirement Savings, Retirement Tips

Are Target Date Funds the Best for Your Retirement Goals?

Everyone seems to have an opinion about target date funds.  On one side, they make 401(k) investing easy.  On the other, there can be a significant difference in performance over time from target date funds versus other plan options.   In this article, we’re breaking down everything you need to know about target date funds so… Continue reading Are Target Date Funds the Best for Your Retirement Goals?

Published
Categorized as Financial Health, Retirement Savings, Retirement Tips

IRS Delays Certain RMD Rules: What You Need to Know

The Secure Act 2.0 brought about numerous changes to how we save for retirement, including when investors need to start taking required minimum distributions (RMDs). However, the IRS is making RMD changes yet again – this time delaying certain rules in order to provide a smoother transition not only for plan administrators, but also for… Continue reading IRS Delays Certain RMD Rules: What You Need to Know

Published
Categorized as Financial Health, Retirement Savings

Navigating the Market Right Now [Video Interview]

Let’s face it. There’s a lot going on with the economy, the Fed, and the markets.  It doesn’t help that in this 24/7 newscycle world we live in that the media sensationalizes headlines that cause panic and fear in investors.  If you’re feeling doom and gloom or uneasy about your investments, it’s helpful to zoom… Continue reading Navigating the Market Right Now [Video Interview]

Published
Categorized as Retirement Savings, Retirement Tips

Reclaiming Your Retirement: Catch Up on Retirement Savings after 40

June 26, 2023 In Retirement Savings, Retirement Tips If you’re over 40 and worried about your retirement savings, take a deep breath. You’re not alone, and it’s never too late to turn things around. In this article, we’re exploring 10 actionable strategies to help you catch up on retirement savings after 40. #1 Assess Your… Continue reading Reclaiming Your Retirement: Catch Up on Retirement Savings after 40

Published
Categorized as Retirement Savings

Pros and Cons of a Roth 401(k): Key Differences and Tax Implications

June 5, 2023 In Retirement Savings When it comes to planning for retirement, choosing the right savings vehicle can make a significant impact on your financial future. Traditionally, 401(k) plans have offered tax-deferred contributions, but in recent years, the Roth 401(k) has emerged as an appealing alternative. With its unique tax advantages and considerations, understanding… Continue reading Pros and Cons of a Roth 401(k): Key Differences and Tax Implications

Published
Categorized as Financial Health, Retirement Savings, Retirement Tips

How RMD Changes Protect Your Retirement Savings

May 15, 2023 The original SECURE Act of 2019 extended the Required Minimum Distribution (RMDs) age from 70½ to 72 for retirement accounts. Now with the passing of the Omnibus Bill, SECURE Act 2.0 extends the RMD beginning date to age 73, starting in 2023. Not only does the new legislation push back the required… Continue reading How RMD Changes Protect Your Retirement Savings

Published
Categorized as Retirement Savings, Retirement Tips, Uncategorized

When It May Not Make Sense to Roll Over Your 401(k)

May 8, 2023 Contrary to what most experts advise, there are times when it may not make sense to roll over your 401(k). We even advise most investors against leaving behind an old 401(k). However, there is an IRS rule that – if you qualify – may help you have more money and avoid penalties… Continue reading When It May Not Make Sense to Roll Over Your 401(k)