Financial, Investment and Estate Planning Blog

If you died, what would happen to your email archives, social profiles and online accounts?  Do your loved ones have any idea on how to access and retieve your digital data? You need to ensure that your digital data is as accessible as bank accounts, life insurance documents, retirement investments and other assets. The unfortunate thing, is t...

The Internal Revenue Service (IRS) recently increased contribution limits for several types of retirement plans. That's good news if you are trying to help keep your long-term wealth strategy on track.If you are 55 years of age or older, you have the opportunity to make catch-up contributions.For 401(k) plans, the 2024 contribution limit for those ...

When changing jobs, one of the options you may have with your 401(k) is to roll it over into an IRA. Talk with your financial professional because a rollover can offer benefits like:More investment choices – Employer plans tend to offer limited options.Communications – When you leave your 401(k) with your former employer, you may miss communication...

That's right, you can have your own 401(k) plan – even if your business consists of just you, or you and your spouse. An Individual 401(k) plan, sometimes referred to SBO 401(k), offers you opportunities you may not find in other retirement plans. Individual 401(k)s are designed for the solopreneur. They can have only one or two participants: a bus...

You probably only have retirement in mind when you're deciding if you should to roll over a 401(k) from a previous employer. One other consideration you have to think about is your estate.401(k) plan beneficiaries usually receive a lump sum, which may have income and inheritance tax consequences for heirs.While inheriting an IRA has tax implication...

When changing jobs, one of the options you may have with your 401(k) is to roll it over into an IRA. Talk with your financial professional because a rollover can offer benefits like:More investment choices – Employer plans tend to offer limited options.Communications – When you leave your 401(k) with your former employer, you may miss communication...

Not only will you be able to contribute more to your 401(k) and IRA retirement plans in 2024, the Internal Revenue Service (IRS) is also boosting the contributions for 2024 Health Savings Accounts (HSAs).For single people, the limit will be $4,150 and families can put away up to $8,300. For those over 55 years of age, the catch-up contribution rema...

You probably only have retirement in mind when you're deciding if you should to roll over a 401(k) from a previous employer. One other consideration you have to think about is your estate.401(k) plan beneficiaries usually receive a lump sum, which may have income and inheritance tax consequences for heirs.While inheriting an IRA has tax implication...

How do you put money aside for retirement when you're self-employed?One approach to consider is a Solo 401(k).If you work for yourself, a Solo 401(k) may help you focus on your retirement savings. These are not garden-variety 401(k) plans: their annual contribution limits are higher than traditional 401(k)s, and both you and your business have the ...

If you've lost your job, or are changing jobs, what about your 401(k)?You have options.1. Do nothing: do you want your old employer investing for you2. Should you cash it in?3. Should you roll it over?Meet with a financial professional.When changing jobs, you have choices. It's important to meet with a financial professional to review all your opti...