Insurance Services

Advisory Services

Category: Retirement Tips

Published
Categorized as Retirement Mistakes, Retirement Tips

2025 Retirement Savings Rules You Need to Know

The 2025 retirement savings rules may provide new opportunities for individuals to save more in their 401(k) plans.  This is due to the passing of SECURE Act 2.0 which passed in 2022, which many provisions set to take effect in 2025. Some of the new provisions may require employer implementation – and employers have discretion… Continue reading 2025 Retirement Savings Rules You Need to Know

Published
Categorized as Retirement Savings, Retirement Tips

2025’s Super Catch-Up 401(k) Contribution: What You Need to Know

If you’re between the ages of 60 and 63, 2025 marks a golden opportunity to supercharge your retirement savings.  Thanks to the SECURE 2.0 Act, the IRS is rolling out a special “super catch-up” 401(k) contribution limit, allowing eligible individuals to save significantly more than ever before. This new contribution limit is designed to give… Continue reading 2025’s Super Catch-Up 401(k) Contribution: What You Need to Know

Published
Categorized as 401(k) Mistakes, Retirement Savings, Retirement Tips

Americans Lack Plans for Retirement Income [New Study]

Allianz Life’s 2024 Annual Retirement Study is out, and it shows a whole lot of Americans lack plans for retirement income. In fact, more than half of Americans do not have a plan in place for retirement.¹ If that isn’t troubling enough, in a report entitled Americans Face Alarming Retirement Savings Shortfall, the National Institute… Continue reading Americans Lack Plans for Retirement Income [New Study]

Published
Categorized as Retirement Savings, Retirement Tips

Retirement 401(k) and IRA Contribution Limits for 2025

The IRS announced changes to retirement contribution limits to help workers boost their retirement savings with cost-of-living adjustments.  Whether you’re saving through a 401(k), IRA, or another retirement plan, these updates can help you plan to maximize your contributions and ensure your retirement fund grows over time. 401(k) Retirement Plan Contribution Limits for 2025 401(k)s:… Continue reading Retirement 401(k) and IRA Contribution Limits for 2025

Published
Categorized as Retirement Savings, Retirement Tips

Social Security COLA Increase Is Not Designed to Cover Retirement

On October 10, the new Social Security COLA increase was announced, and many retirees were disappointed. Each year, there is a cost-of-living adjustment (COLA), which is determined by a measurement of the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers. The 2025 Social Security COLA increase is merely 2.5%.¹ This… Continue reading Social Security COLA Increase Is Not Designed to Cover Retirement

Published
Categorized as Retirement Savings, Retirement Tips, Uncategorized

Is Professional 401(k) Account Management Really Worth It?

401(k) account management is an option for anyone with a 401(k) – no matter how close or far you are from retirement. Even if you have some basic investment knowledge, you might want to consider seeking expert advice. Think of it this way – financial advisors manage 401(k) accounts for a living. It’s their job. … Continue reading Is Professional 401(k) Account Management Really Worth It?

Published
Categorized as Retirement Savings, Retirement Tips

What to Do If You’re Behind on 401(k) Savings

Given the increase in the cost of retirement, it’s no wonder many are worried they are behind on 401(k) savings. According to the Northwestern Mutual 2024 Planning & Progress Study, “American adults say on average they now need $1.46 million to retire. That’s 15% higher than a year earlier and a 50% increase since 2020.”¹… Continue reading What to Do If You’re Behind on 401(k) Savings

Published
Categorized as Retirement Savings, Retirement Tips

Strategies to Maximize Your 401(k) Contributions

Saving for your financial future requires more than the bare minimum. Given the cost of today’s retirement, it’s worth doing what you can now to maximize your 401(k) contributions. Why 401(k) Contributions Are Essential for Retirement Retiring isn’t cheap. Once you stop working, you are still expected to pay the bills. And they can add… Continue reading Strategies to Maximize Your 401(k) Contributions

Published
Categorized as Retirement Savings, Retirement Tips

Women Are Saving Less for Retirement but Living Longer

Women are saving less for retirement than men – and not just by a little. Prudential’s 2024 Pulse of the American Retiree survey found, “Across all age groups, women are particularly vulnerable, with less than a third the median savings of men. They are nearly three times as likely to delay retirement due to caregiving… Continue reading Women Are Saving Less for Retirement but Living Longer

Published
Categorized as Retirement Savings, Retirement Tips

Tax-Savvy Retirement: Mastering Your 401(k) Tax Implications

When it comes to investing for your financial future, understanding the tax consequences is important to growing wealth.  Because it’s not just what you make, it’s what you keep, that counts.  How tax savvy are you with regards to your 401(k)?  Are you aware of the 401(k) tax implications on withdrawals? Or the real benefit… Continue reading Tax-Savvy Retirement: Mastering Your 401(k) Tax Implications