Women and Financial Strategies
Women who share money management duties with their partner tend to take on a lion’s share of the responsibility for the household finances. Yet only 18% of women feel very confident in their ability to fully retire with a comfortable lifestyle.1,2 Although more women are providing for their families, when it comes to preparing for […]
A Brief History of Estate Taxes
Federal estate taxes have been a source of funding for the federal government almost since the U.S. was founded. In 1797, Congress instituted a system of federal stamps that were required on all wills offered for probate when property (land, homes) was transferred from one generation to the next. The revenue from these stamps was […]
Risk Perspective
Risk is a factor in any investment decision that you make. Your tolerance for risk is something that you will want to consider when you make decisions alongside your trusted financial professional. Your risk tolerance is balanced against your time horizon, meaning the time between now and when you anticipate needing your money. But is […]
New Retirement Contribution Limits for 2023
The Internal Revenue Service (IRS) has released new limits for certain retirement accounts for the coming year. After months of high inflation and financial uncertainty, some of these cost-of-living-based adjustments have reached near-record levels. Keep in mind that this update is for informational purposes only, so please consult with an accounting or tax professional before […]
Healthcare Costs in Retirement
In a 2021 survey, 32% of all workers reported they were either “not too” or “not at all” confident that they would have enough money to pay for their medical expenses in retirement. Regardless of your confidence, however, being aware of potential health care costs during retirement may allow you to understand what you can […]
Your Emergency Fund: How Much Is Enough?
Have you ever had one of those months? The water heater stops heating, the dishwasher stops washing, and your family ends up on a first-name basis with the nurse at urgent care. Then, as you’re driving to work, you see smoke coming from under your hood. Bad things happen to the best of us, and […]
Choosing a Retirement Plan that Fits Your Business
If you have yet to develop a retirement plan for your business, or if you’re not sure the plan you’ve chosen is the right one, here are some things to consider. How much can my business afford to contribute? The cost of contributions may be managed by the plan type. A simplified employee pension plan […]
What Can You Buy With 529 Distributions?
Some of the biggest challenges many face when it comes to education are financial. Luckily, a 529 college saving plan can help. And they’re not just for college anymore – added to the tuition eligibility are K-12, private and religious schools. These funds can also be used for four and two-year colleges, trade schools, graduate […]
Building a Better Retirement Benefit: Consider Adopting Auto Features
The use of auto features in 401(k) plans has continued to climb in popularity over the past decade. In fact, auto features such as automatic enrollment and auto escalation are considered best practices in 401(k) plan design as ways to help boost participation and employee savings rates.1 Many large 401(k) retirement plans offer auto features. […]
Items Your Annual Retirement Plan Review May Be Missing
As a plan sponsor, you are no stranger to the annual retirement plan review. And believe it or not, it is that time of year again! Although you may meet quarterly or semi-annually with your advisor, a yearly plan assessment is an opportunity to evaluate the health of your plan. Many times, the focus of […]
