Tag: 401(k) plan

2022 Quarterly Financial Review for Millennials

January 26, 2022
Finance

In uncertain times, having a review plan for your finances in place is vital. Needless to say, 2022 has gotten off to a rocky start. Political entrenchment in Washington continues to prevail as stock market volatility has shaken investors. Despite all the noise, following a plan has been and always...

The Backdoor (Roth) Might Be Closing

October 13, 2021
Finance

The Roth IRA can be a great way to hedge against rising taxes in retirement. One of the best aspects of a Roth IRA (or Roth money set aside in a 401(k) or other employer sponsored retirement plan) is that the distributions are completely tax-free in retirement as long as certain requirements are met. You...

5 Retirement Savings Tips for Millennials

July 29, 2021
Finance

Younger generations are dealing with challenging economic realities when it comes to saving for retirement. A good percentage of those in the gen z and millennial generation are graduating with student loan debt and dealing with a hot housing market all while trying to manage a budget on stagnant...

Traditional vs. Roth 401(k) Contributions

July 6, 2021
Finance

The different ways you can save for retirement is staggering. On top of that you need to decide what type of contribution to elect into your account (traditional, Roth, post-tax, pre-tax, etc.) Many people in the corporate or private sector have access to a 401(k) plan. This provides employees a tax-advantaged...

The ABCs of Employer Sponsored Retirement Plans

June 24, 2021
Finance

Retirement plans offered through your job come in all shapes and sizes. Understanding the details can almost feel like learning a foreign language. With all the IRS codes and lingo, the world of employer sponsored retirement plans resembles alphabet soup, especially if you’re unfamiliar with...