As a financial advisor, I experience highs and lows…and I’m not talking about the stock market. One of the areas I cherish most about what I get to do with my life is seeing people succeed financially and make progress towards their goals. That never gets old, it still fires me up! But I also [...]
New Contribution Limits for 401(k) Plans, Traditional and Roth IRA, and Pension Plans The IRS has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2020. For company retirement plans, the most recognized highlight is the 401(k) contribution limit increase to $19,500 for the new year. [...]
With longer life spans come extended healthcare needs — and significantly more dollars required to pay for them It’s more likely today that you’ll live longer than your grandparents did. The flip side is that you may spend far more on doctors’ bills and treatment for chronic illnesses than previous generations. With healthcare costs continuing [...]
“At LPL Research, as we look forward to the year 2020 and a new decade, some key trends and market signals will be important to watch, including progress on U.S.-China trade discussions, an encouraging outlook from corporate America, and continued strength in consumer spending. Trade risk, slower global growth, and the impeachment inquiry have garnered [...]
Behavioral finance strategies improve the odds Generally speaking, we don’t encourage being shifty. But applying a few innovative moves in your 401(k) plan could result in increased retirement savings for your employees. That’s because, when it comes to money, subconscious perceptions can torpedo a plan participant’s success. Applying behavioral finance principles may help employees overcome [...]
Q: We keep hearing about participant lawsuits against 401(k) plans, and strive to do our best to avoid situations that could lead to one. Part of that is using prudent processes in the plan. We have asked our advisor and done some searching on our own, but haven’t been able to define what processes are [...]
Retirement Planning Tips and resources that everyone can use Money Conversations When you are in a close relationship, it can be easy to put off talking about money with your partner. Even if you’re anxious about your financial situation, it’s important to be open to discussing it. It is possible to work toward multiple goals [...]
Near-retirees and midcareer workers feeling similar stress as recent college grads. There’s no doubt that the rising cost of college is putting lots of financial stress on American workers. Frequently, the cost of a 4-year private university is more than the average cost of a home in most areas of the country. Here is a snapshot [...]
There are lots of advantages to an HSA. But you should keep these three potential pitfalls in mind before you decide to open an account: Contributing when you are no longer eligible – In 2020, you can participate in an HSA if you have a high-deductible health insurance policy with an annual deductible of $1,400 [...]
In the sports world, a mental error can cost your team the big game. When you are investing, a mental error can put your retirement portfolio at risk. Mistakes often result from letting misconceptions and emotions affect your decisions. Successful investing generally requires logic and reasoning. To avoid a fumble, you may want to guard [...]
