A Guide to Benefits When Changing Jobs

If you’re changing jobs, you probably have a lot on your mind. As you wrap up work with your previous employer and prepare for your new role, it can be easy to let important benefits-related decisions fall by the wayside. If that happens, you could miss a limited opportunity to sign up for new benefits or miss out on making wise changes to your plans. To stay on track financially during a career transition, be sure to review the status of your retirement accounts and other valuable employee benefits.

Financial Planning Considerations for Single Women

For various reasons, the state of a woman’s financial security often depends on her marital status. A study from the U.S. Government Accountability Office says that women’s household income dropped by 41 percent after divorce, nearly double the size of the decline men experienced. In 2020, women earned just 82.3 cents on the dollar compared with men, according to the Department of Labor’s Bureau of Labor Statistics, a gap that was more pronounced for women of color. And women earn less than their male counterparts in nearly every occupation. Whether you are newly divorced, widowed, or single by choice, the following tips could help you shore up your financial security.

Debt Management in a Healthy Financial Plan

Wise debt management is a key component of healthy and effective financial planning. Today, most people carry some amount of debt to finance a degree or buy a home or car. Other debts may be incurred out of necessity or as part of an investment plan. Whatever your reasons for taking on debt, you should understand the different types of debt and their risks. This knowledge will help you manage debt wisely as part of your overall financial plan.

The Powerful Effects of Compound Interest

Getting an early start on your retirement savings may be the best financial move you can make for yourself. Thanks to the power of compound interest, you can make your money work for you and grow exponentially on a tax-deferred basis. 

5 Positive Financial Habits to Adopt Today

Like most people, you probably have a vivid, exciting picture of what your ideal retirement will look like. Maybe it’s spending time with family at a beach house, crossing off the books that have accumulated on your to-read list, or finally being able to volunteer enough of your time to make a difference for your favorite charity. But there’s no doubt that the journey to retirement is long and winding—and, as with any journey, you’ll encounter challenges along the way before arriving at your desired destination. Adopting good financial habits is a must for plotting a successful retirement journey. Let’s explore five positive ways to get—and stay—on the right track.

Is a Roth 401(k) Right for Me?

The Economic Growth and Tax Relief Reconciliation Act of 2001 introduced the Roth 401(k) as a retirement plan that employers may offer to their employees as of January 1, 2006. Of course, there are questions that need to be considered, the most important being, should you contribute to a Roth 401(k)?

5 IRA Misconceptions and How You Can Make the More Informed Choice

Some IRA planning and investment strategies may appear easy to execute, but errors can lead to unexpected taxes or penalties, loss of the IRA’s tax-exempt status, and even disinherited beneficiaries. Where can things go wrong? Here are five common IRA misconceptions, as well as tips for making a more informed choice.

401(k) Loans: Borrowing from Your Future

If you need funds to cover an unexpected expense, taking a loan from your 401(k) account may sound appealing. Although many retirement plans offer these loans, borrowing from your 401(k) comes with unique risks and costs that can seriously compromise your long-term retirement savings. If you’re considering a 401(k) loan, it’s critical to weigh the pros and cons.

10 Reasons to Save for Retirement

We all know we should be saving for retirement. But, according to EBRI’s 2018 Retirement Confidence Survey, many Americans aren’t prepared. In fact, 79% of respondents said they plan to work in retirement! Of course, life gets in the way of taking action, and retirement seems so far off. But whether or not you’re prepared, it will be time to retire before you know it. Read on for 10 reasons to make saving for retirement a priority today.

Financial Planning FAQ: Roth 401(k) Contributions

As a financial planner, I am often asked by clients about which retirement savings tools are right for them. Many clients have questions about how Roth 401(k) plans in particular compare to other retirement saving strategies. To help clarify, I have put together the following list of frequently asked questions and answers to help you decide if Roth 401(k) contributions are right for you.