Latest Blog Posts
16 Budget-Friendly Fall Activities for Families
5 Financial Risks to Plan for Now before Year-End
Your Retirement: Don’t Be Another Statistic
National Public Data Breach: What You Need to Know
What to Do If You’re Behind on 401(k) Savings
Why Early 401(k) Withdrawals May Derail Your Retirement
With the holidays right around the corner and the end of the year fast approaching, the last thing you want to do is blow your budget on fall activities.Between fall sports, Halloween, and fall travel, the costs add up…and it’s too easy to overspend.If …
As we approach the final quarter, it’s time to talk about financial risks that could significantly cost you.Let’s say you’ve made a financial goal for 2024. If you aren’t paying attention, you may miss that goal because you have to pay more in taxes th …
Americans are not saving enough for retirement.In a report entitled Americans Face Alarming Retirement Savings Shortfall, the National Institute for Retirement Security shares, “Most Americans will not have enough money for a financially secure retirem …
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 reti …
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 reti …
Early 401(k) withdrawals are soaring.According to the Vanguard Group, “A record-breaking number of Americans are making emergency withdrawals from their 401(k) retirement plans in order to cover a financial hardship amid the ongoing inflation crisis.”¹ …
It is natural for a parent to want to help their children financially, but helping kids financially isn’t always the best decision.You may end up hurting them more than helping them – especially if you dip into your retirement savings.While it is under …
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 che …
Despite a brief 6% correction in the latter part of the first quarter, the stock market has shown resilience and growth in the first half of 2024.Keep reading for factors contributing to this and what you need to know. Federal Reserve’s Stance on Inter …
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 …
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 aw …
While we are all about celebrating the birth of our great nation, we don’t believe you should spend a lot of money (or go into debt) celebrating it.But that wasn’t the case in 2023. Americans spent more than ever.“Total consumer spending [for 2023’s] F …
In mid-2024, Americans are still facing high inflation and high interest rates. And they are saving less and spending less. According to data from the Commerce Department, “The personal saving rate, the share of income that Americans are squirreling aw …
Fidelity Investments recently released a report on 2024 trends, and Q1 shows record high 401(k) savings in 2024.Read on to discover more about the current 401(k) savings rate, why rates have increased, and how you can save even more. Record High 401(k) …
You’ve worked hard to build up your savings to ensure you have a comfortable retirement.What if cybercriminals stole from your 401(k)?Sadly, it’s happening, and experts are fearful it may happen more frequently with retirement accounts – with some even …
Now that we’re halfway through the year, are you looking for ways to boost your 401(k) savings? Many Americans are struggling to save like they used to, and their retirement accounts are taking a hit.According to recent data from the Commerce Departmen …
It’s important to your retirement savings and to your future retirement lifestyle to understand what you’re invested in. If you have a 401(k), this begins with asking questions – the right questions about your 401(k). Read on to see the top five 401(k …
It’s easy to see why people are searching for free or inexpensive things for families to do this summer – summer isn’t cheap!Mass Mutual reports, “Nearly half of Americans plan to travel this summer – a ten-point increase over last year – but an astoun …
If you’ve taken a new job, chances are you were automatically enrolled into a new 401(k), handed a welcome packet, and then left wondering what to do.The problem is that 63% of Americans don’t understand how a 401(k) plan works.¹Here’s the deal: If you …
Whether you’ve lost your job or plan on changing jobs in the near future, there are common 401(k) rollover mistakes you need to be aware of.Ignore these, and a rollover could take a chunk out of your retirement savings, trigger a big tax bill, and impa …
Graduation season is upon us. If you don’t have a gift for your grad yet, may we suggest something better than a gift card or cash? It doesn’t matter if they are graduating high school or college – young adults need financial help.A recent report from …
Saving for retirement is essential, and a 401(k) plan can be an effective way to have a comfortable retirement.Yet, according to a 2023 survey, 4 in 10 workers with a 401(k) don’t contribute.¹If you are hesitant to set aside a bit or more of your paych …
No two people spend or save the same way. What works for you may not work for someone else. But there are tried-and-true ways to save more and build wealth for retirement. Use the following 3 personal money moves to guide your financial decisions in Q2 …
Americans are taking early withdrawals from their 401(k)s at record rates “across different ages and income levels.”¹ According to Capitalize, “Half of Americans have made early withdrawals from retirement savings. […] These withdrawals will cost Ameri …
The Roth 401(k) is gaining in popularity due to employers offering it inside their plans and also thanks to provisions in the Secure Act 2.0 that only pertain to the Roth option. The question is, is it right for everyone? Read on to see if the Roth 401 …
The number of 401(k) millionaires has soared in recent months.According to a Fidelity Q4 2023 Retirement Analysis report, “This quarter saw a 20% increase in 401(k) millionaires following Q3 2023. […] The number of millionaires in Q4 is also11.5% highe …
There is a looming retirement crisis.It’s not a possibility. It’s about to be a reality for many Americans.According to a survey by Clever, “Two-thirds of retired Americans say the U.S. is in a retirement crisis (66%). The average retiree owes $15,393 …
Choosing between paying off student loans and saving for retirement is a reality for many Americans.But that’s about to change.A provision in the Secure Act 2.0 permits employers to consider student loan payments as qualifying contributions toward reti …
We’ve been through a lot over the last couple of years, but 2024 is showing signs that things may be turning around.In 2024, we have had a really good market thus far. We hit new highs on the Nasdaq, the Dow Jones, and the S&P 500 – marking the end …
Decades in the 401(k) space have made it easy for us to identify common 401(k) mistakes investors make.Obviously, the biggest 401(k) mistake is not contributing enough (or not even having a 401(k) plan).But even those who set up a 401(k) plan and contr …
