As the end of 2023 draws near, those responsible for their company 401(k) plan have much to consider. With a combination of standard annual tasks and new SECURE Act provisions on your plate, we are here to help you. This article is a helpful guide for wrapping up 2023 smoothly! We will dive into those …
A Comprehensive Guide to End-of-Year 401(k) Tasks Read More »
For business owners, striking a balance between operating costs and profit is the cornerstone of success. Operating costs include everyday expenses like salaries, rent and supplies. Profit, on the other hand, is what remains after all these operating costs have been paid. It’s the reward for the risks taken and the value created by your …
Boosting Profits and Savings: 5 Tax Strategies for Business Owners Read More »
Managing a 401(k) plan can leave even the most seasoned administrators feeling overwhelmed. With proper support, you can simplify the complex task of retirement plan management. Top 401(k) Plan Headaches The first step is to understand the potential problems. Here are some common issues that can cause headaches for plan sponsors: Uploading Payroll Determining …
6 Common Administrative Tasks That Can Morph Into 401(k) Plan Headaches Read More »
In my last blog, I discussed the benefits of Health Savings Accounts (HSAs). If you missed it, you can check it out here. In this blog, I wanted to address some of the common objections that I hear about HSAs because many of them are based on misinformation and misunderstandings. When I first started working …
I love the Karate Kid. So my wife and I sat down to share the original film with our teenage daughters a few years ago. It didn’t go well. I had forgotten that Daniel gets beaten up for most of the movie and that the scenes are much longer and slower than the younger generation …
In the first two parts of this 3-part blog, we discussed how much money you could get from Social Security based on your work history and family situation. But what if the Social Security trust fund isn’t there to pay your full benefits? In this blog, we discuss what happens when Social Security goes insolvent …
In part 1 of this 3-part blog, I outlined how to understand the Social Security benefits you could be eligible for based on your own earnings record. But it is possible that you could be eligible for more benefits based on your current or former spouse’s earnings record instead. So, let’s look more closely at …
Americans love the royal family. And I’m English (my mom was born and raised there) so let me try to spice up the topic of Social Security with a royal family metaphor. Social Security is like Prince Harry – widely known but never fully understood. I cannot figure out what Harry is doing right now, …
Social Security Part 1 – How to Read Your Statement Read More »
My wife Debbie and I still watch the evening news. I know, we should just get instantaneous news from our Twitter feed like everyone else under 80 years old. But I like Lester Holt. Does your Twitter feed remind you to “take care of yourself, and each other” like Lester does? I think not. But …
In the financial industry, the term “Investment Policy Statement” is used a lot – but what is an Investment Policy Statement (or IPS) and do you really need one? Definition of Investment Policy Statement (IPS) An investment policy statement is a document written to provide the strategy for selecting and monitoring plan investments. This document …
What is an Investment Policy Statement (and Should You Have One)? Read More »
