Posted by Richard on May 21, 2014
Target-date funds continue to gain ground in the employer-based retirement plan arena. It is estimated that by 2018, they will garner more than 63% of total defined contribution plan participant contributions and account for 35% of total 401(k) plan assets. A new study by Cerulli Associates reported these findings and revealed other key trends influencing […]
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In January of this year the U.S. Tax Court ruled that the “once a year” IRA rollover rule applies to all of an individual’s IRAs, not to each separately. The court’s decision conflicts with a longstanding IRS position (as outlined in IRS Publication 590) that states the rule applies separately to each IRA owned, […]
Read More →Posted by Richard on April 15, 2014
Parents looking to take advantage of the many benefits of saving for college with a 529 plan will want to know the full details on which educational expenses qualify for tax-free distribution status — and which do not.1 In Publication 970, the IRS gives detailed guidance on qualified expenses. Here are a few important […]
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The Employee Benefit Research Institute’s (EBRI) annual Retirement Confidence Survey found a marked increase in retirement confidence among workers with higher household incomes who also participate in one or more retirement plans — including defined contribution plans, defined benefit plans, and/or IRAs. Specifically, more than half (55%) of survey respondents are now very or […]
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Employers are enhancing their retirement plans and increasing access to professional investment advice in an attempt to bolster employee retirement readiness. A new study by Aon Hewitt, which polled more than 400 plan sponsors serving 10 million plan participants, revealed a number of initiatives being taken to strengthen employee ability to achieve greater financial […]
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As health care costs continue to rise, consumers must find ways to ensure that they have the funds to pay for medical expenses not covered through their insurance. One way to save specifically for health care costs is to fund a health savings account, or HSA. HSAs are tax-advantaged savings accounts set up in […]
Read More →Posted by Richard on March 13, 2014
If charity is important to you and you want to build a philanthropic legacy, then starting a family foundation may prove beneficial. A family foundation can form a legacy of community involvement and responsible citizenship for generations to come. What exactly is a family foundation? The Council on Foundations defines it as one whose […]
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As a result of lengthening life expectancies and dwindling pensions, a growing number of retirees are looking to retirement as an opportunity to start a new business. It can be beneficial to be an older entrepreneur in a number of ways: • Start-up funding may be easier to come by for seniors, who can […]
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The potential benefit of global investment has tantalized investors for decades.1 A portfolio whose holdings are diversified across national borders may have lower overall volatility and higher average returns than a collection of investments in any single economy. While the bottom-line benefits of foreign investment may be attractive, the purchase of stock through a […]
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Many financial experts recommend setting aside enough money to cover three to six months’ worth of expenses in the event of a major financial surprise. That’s because a well-funded emergency account has the potential to get you through tough times without the need to spend other savings, such as assets earmarked for retirement and […]
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