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When people think of “myths,” they often think of such stories as Pandora’s Box (the woman who took the lid off of a jar releasing all of the world’s ills upon the world, were taxes one of them?), or the Tale of...

On October 21st, the Internal Revenue Service (IRS) announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. The IRS today also issued technical guidance...

For all employers, offering retirement benefits can play a fundamental role in recruiting and retaining qualified employees. Yet, despite the obvious advantages that come with helping workers save for retirement, many not-for-profit...

Lifetime income (LTI) strategies, such as target income payout funds or annuities within company-sponsored retirement plans, are designed to help investors plan for and manage their accumulated wealth after retirement. However, these...

Retirement plan sponsors have incredibly important responsibilities to their plan participants—and even sponsors who rely on third-party administrators (TPAs) to administer their plans maintain this fiduciary duty. What should...

Bank of America's Workplace Benefits Report recently revealed that a whopping 19 in 20 surveyed employers felt responsible for their employees' financial wellness.1 But because financial wellness is such a holistic concept,...

State-mandated retirement plans result from legislation requiring employers to provide their employees with retirement savings opportunities. Businesses can comply with these laws by enrolling their employees into a state-sponsored...

At one time, the only way you could join your company's 401(k) plan, 403(b) plan, or 457(b) plan was to put pen to paper and sign yourself up by filling out the appropriate forms. Now, though, in an effort to help participants increase...

Have you ever considered bankrolling your adult child’s business? Many young entrepreneurs seek parental assistance in launching their companies, especially if they encounter difficulty securing bank loans due to a lack of credit...

As a small business owner, you know that a qualified plan can make a big difference in your ability to attract and retain desirable workers. At the same time, you may or may not be aware that sponsoring a qualified plan requires the...

You have probably heard about financial planning and its potential benefits, but you are unsure how to apply the principles to your life. A financial plan is a collection of steps that help you to evaluate your financial condition and...

As we approach the end of the year, you may want to review areas that may impact your wealth and estate planning next year. In this year-end planning guide, we examine four critical areas to consider that may affect your finances:1....

Market downturns could be a good time to adjust your fund portfolio to minimize the tax bite. Here’s how to calculate the best ways to do that – now and in the future.Taxable accounts you hold longer than a year incur...

Pension plans are still offered at many types of employers today. A pension plan is an employer-sponsored retirement savings plan the employer contributes toward to fund their employees' future retirement.There are two types of pension...

What are charitable remainder and charitable lead trusts?Charitable remainder and charitable lead trusts are special types of trusts into which you transfer assets, retain either a present or future economic benefit for yourself or...

Are you a spender, a saver, or somewhere in between? Do you view your money with an "easy come, easy go" attitude or focus on saving all you can, "making hay while the sun shines"? Your overall financial philosophy doesn't just affect...

You have worked hard to build up your assets and you’re probably wondering: what happens to my savings if I’m affected by a long-term care event? It’s a topic that is worth examining in detail. First, let’s define long-term care.

National Veteran and Military Families Month is one of the most recently created celebratory months, put in action by former President Trump starting in November 2020. While various service members are honored throughout the year, this...

A trust is a legal vehicle that protects your assets that contains instructions for your assets when you die or become incapacitated. When you set up a trust, you transfer assets from your name into your trust's name while you still...

If you have a child, you may want to read the recent analysis from the Brookings Institute which details just how expensive raising kids can be. It’s downright frightening.According to the Brookings Institute analysis, the...

What is cash flow analysis? Analyzing cash flow is a simple process that helps you avoid the problems of a cash shortage. A cash crunch doesn't necessarily mean you are broke, but it is a situation you should avoid if possible. Cash...

The S&P 500 does best when one party controls Congress and the WH tooThe 2022 Midterm Elections will feature hundreds of hotly contested races at the state and local level and will decide whether the Democrats maintain...

A lot of 401(k) investors end up making the same mistakes when choosing their investments. The results are low returns and unbalanced portfolios. Avoiding these four mistakes is a good start for getting more out of your 401(k).There is...

You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? The truth is, saving for your retirement and your child's education at the same time can be a challenge....

Retirement is an exciting time. You have worked hard all of your life and now get to take advantage of the fruits of that hard labor. While retirement is the perfect time to tackle to-do lists and all of the things you have always...

Life insurance has come a long way since the days when it was known as burial insurance and used mainly to pay for funeral expenses. Today, life insurance is a crucial part of many estate plans. You can use it to leave much-needed...

A successful investor maximizes gain and minimizes loss. Though there can be no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal, here are six basic...

We’ve all heard this advice before: if you want to save money, you need to cut back on spending. However, it’s not always so easy. Identifying senseless spending in the following areas can help you save more each month. But don’t fret...

Poor money management can lead to debt, stress, and dependency on others. Fortunately, good money management skills can make it easier for you to accomplish your personal goals. Become familiar with the basics of planning now, and your...

Setting investment goals means defining your dreams for the future. When you're setting goals, it's best to be as specific as possible. For instance, you know you want to retire, but when? You know you want to send your child to college...

There may be financial benefits available to those whose disabilities leave them unable to hold down a job. However, these benefits may come with strict rules and regulations, such as limits on the assets a disabled person may own.

Being caught between two generations of loved ones who require care can be both financially and emotionally draining, but there are ways to reduce the pressure. Here are three financial planning challenges the sandwich generation can face.

July is Independent Retailer Month, which is the perfect time to show your support for locally owned businesses that rely primarily on community support. Independent retailers are essential to communities as they are more likely to put mone

The key for many people in the sandwich generation is to provide guidance and support to their parents without derailing their own life and long-term goals. Here are some tips that may help.

Thinking of a future without ourselves in it, is not the most pleasant of thoughts…however, it is necessary to do so for the financial future of your family. Keep reading to learn the basic facts of life insurance.

College is expensive for many people. The average tuition and fees at a college or university for the 2019 to 2020 academic year at a four-year institution was $9,4001. This may include the cost of tuition, books, and housing. For some...

Alzheimer’s disease, the most common form of dementia, is generally diagnosed in people over 65 years old, causing memory loss, changes in mood and behavior, and the gradual inability to maintain independence in daily living activities.

Going on vacation doesn’t mean you have to throw your workout routine and money out the window. See the world, workout, save money, and start hiking! Never Hiked? Follow these simple steps to get started.

If you're getting ready to buy a home, there are a few key steps you can take to prepare your finances for this major lifestyle shift. Here we discuss three things you can do to make the transition to homeownership as smooth as possible.

The first challenge when facing a bear market is recognizing it Every investor knows that his or her portfolio is at least partially at the mercy of the market itself, with overall market conditions playing a huge role in general gains...

Smart investors can cushion market corrections with proper diversification About halfway through January of 2022, NASDAQ closed in correction territory (on January 19th, NASDAQ closed down 10% from its recent high on November 29th), as...

Regardless of size, companies can benefit when the community in which they do business thrives. For entrepreneurs, giving back to the community may be more than just a charitable act; it can also make good business sense. If you have...

Retirement is not what you retire from, but what you retire to When you plan for retirement, an exciting new phase of life, double-check your expectations. They may not match the reality. Baby boomers, currently in their 50s and 60s,...

KEY POINTS The 4% rule, a popular strategy to gauge withdrawals from one’s retirement portfolio, won’t work as well in coming decades due to lower projected stock and bond returns, according to a Morningstar paper published...

We all read and hear about various special deals, “doorbusters,” price cuts, and early opening hours on Black Friday. We also read and hear about the Cyber Monday deals. These sales days offer retailers a big chance to...

Reviewing your benefit choices will maximize your employment benefits Open enrollment for employee benefits kicks off this month. While you plan your Thanksgiving menu, review your benefit choices. Even if little changed in your life...

Social Security Gets Massive 5.9% Raise in 2022 The largest cost-of-living-adjustment since 1982 impacts 90% of seniors On October 13th, the Social Security Administration announced that Social Security and Supplemental Security Income...

What Veterans Should Know About Retirement Planning Veterans' retirement benefits are among some of the most generous out there, in large part due to the risks and sacrifices that come from military service. But navigating this array...

Your 2021 Year-End Planning Checklist It may be easy to forget we're nearing the end of the year. Even during the busy end of year rush, it's a good time to reevaluate your 2021 finances and turn an eye toward 2022. What can you do now...

“Field of Dreams” is a 1989 baseball movie inspired by W.P. Kinsella’s 1982 novel “Shoeless Joe.” Starring Kevin Costner, James Earl Jones, Ray Liotta, Amy Madigan and Burt Lancaster, it is about a famer...

“Field of Dreams” is a 1989 baseball movie inspired by W.P. Kinsella’s 1982 novel “Shoeless Joe.” Starring Kevin Costner, James Earl Jones, Ray Liotta, Amy Madigan and Burt Lancaster, it is about a famer...