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This IRA Move Looks Smarter After the Stock Market Correction
One of the biggest problems with the way that most people save for retirement is that they fail to take taxes fully into consideration. With traditional IRAs and 401(k) plans, you typically set aside pre-tax money into a tax-deferred account that shelters your money from tax as long as it stays in the account. But once
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Three Replacements for Stretch IRAs
The elimination of the Stretch IRA is a game changer, especially for parents who were considering bequeathing savings in IRAs to their kids. "For a lot of people, the bulk of their wealth has been established in their IRAs," said Michael Repak, vice president and senior estate planner with Janney Montgomery Scott. "Thi
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Upskilling Your Employees: Top 10 Benefits
Let’s have a quiz: if you had just one skill to equip your employees with, what would that be? If your response was something like: “I want my employees to master X software,” you might want to reconsider. Because a new, more shiny app could replace that software tool in less than six months from now, and your wish wou
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Want to Buy a Home in 2024? Here Are 4 Ways to Help Make It Happen
If you've spent the last few years itching to get on the property ladder, you might be feeling pretty discouraged by persistently higher mortgage rates and a stubbornly low number of houses for sale.
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Want to Retain Your Employees? Be Flexible During the Holidays.
The holidays are right around the corner, which means that in the coming weeks, you're likely to find yourself short-staffed at work, and perhaps under pressure. Now, imagine what life at the office would be like if you were to have no choice but to operate on a skeleton staff year-round as a result of having lost key
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Watch Out for Fraud While Holiday Shopping
Nov. 24—(StatePoint) While gifts are being wrapped and lights are being hung, fraudsters are devising ways to leverage the holidays to scam you out of
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What Employers Need to Know about 401(k) Plans
In a tight labor market, businesses need a retirement savings plan to recruit and retain good workers. In fact, about 80% of Americans work for an employer with a 401(k)-style retirement plan. In the following conversation, Robert Diedrich, president-wealth management division, First Midwest Bank, discusses recent rule
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What information does an employer have to give regarding a 401(k) plan?
Any employer who offers a 401(k) retirement plan is required to provide each plan participant, free of charge, copies of the summary plan description, the summary annual report, and an annual statement of the participant's account. In addition, every participant has the legal right to request, in writing, a host of oth
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What The Self-Employed Need To Learn From The PPP Loan Process
2020 has been a year of many lessons. From social distancing to coloring our own hair, we have all had to learn to adapt in a pandemic-driven world. It has been a time of change, reflection and fear. For many self-employed individuals, the Covid-19 pandemic has provided an additional lesson: education in the finances
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What to Know About Mortgage Escrow Accounts
When you finance your home with a mortgage, your lender will likely require you to maintain an escrow account. With this setup, a portion of your monthly mortgage payment is set aside to cover your annual property taxes and home insurance premiums.