- 403(b) Contribution Limits in 2025
If you are an employee of a public school or a nonprofit, you are likely familiar with 403(b) retirement plans. Like a 401(k), these plans allow participants to contribute pre-tax dollars throughout their careers in order to save up enough… read more…
- What Is a Deferred Annuity?
As people live longer, retirement savings need to last more years. A deferred annuity can help by letting you invest now and receiving income later. This usually begins in retirement when other income declines, allowing your money to grow tax-deferred and potentially provide larger payments over time. According to LIMRA’s U.S. Individual Annuity Sales Survey… read more…
- 403(b) vs. 457(b): What’s the Difference?
It’s never too early to begin saving for retirement. Whether you’re new to the workforce or have years of experience, taking advantage of employer-sponsored, tax-advantaged retirement plans can set you up for long-term financial success. Two common options are the 403(b) and 457(b) plans. Both allow you to contribute a portion of your salary toward… read more…
- Pension vs. Annuity: What’s the Difference?
Pensions and annuities are two common sources of retirement income. However, they are quite different with their own advantages and disadvantages. Which one is better for you will depend on your individual circumstances. For example, some people may choose a… read more…
- What Is a Testamentary Trust?
As you sit down with your financial advisor to create an estate plan, one option that may arise is a testamentary trust. A testamentary trust is a type of trust that’s created in a last will and testament. Also known as… read more…
- The Top 10 Cities for a Worktirement – 2018 Edition
The average American can expect to live nearly 79 years. That is a full 14 years after the typical retirement age of 65. While many Americans perhaps imagine themselves filling those 14 years of retirement in blissful leisure, many others decide to spend part of it working. If you are the type of retiree who… read more…
- How Much Does It Cost to Raise a Child?
There’s a lot you have to plan and save for when thinking about your future. Saving for retirement should be at the top of your list. But if you’re planning on buying a home or having a family at some point, you’ll need to start saving for those costs as soon as possible, too. It may… read more…
- How Do Annuities Work?
When it comes to retirement, Social Security and your 401(k) plan don’t always cover you throughout your retirement. If you’re planning for retirement, you might want to also consider opening an annuity. Annuities are long-term investments that help protect you… read more…
- What Is a Thrift Savings Plan?
Everyone has to plan for retirement, but most retirement conversations revolve around 401(k) plans. While ideal for retirement savings, you can only have a 401(k) plan as an employee of a private company. This does not include government or military employees.… read more…
- What Is a Trust Fund and How Does It Work? Definition and Overview
There are many ways to set up a financially secure future for your loved ones. Trust funds, for example, can be a strong way to set your children or grandchildren up for future financial success. Also, contrary to popular opinion,… read more…
- Where Seniors Are Staying in the Workforce
Across America seniors are putting off retirement and staying in the workforce longer. According to Bureau of Labor Statistics data, the percent of Americans age 65 and over who are still in the labor force has nearly doubled in the… read more…
- What Does Per Stirpes Mean in Estate Planning?
Per stirpes is a legal term of Latin origin (translation is “by roots” or “by branch”) that has to do with the transfer of your assets after you pass away. Specifically, it comes into play when the beneficiaries you name… read more…
- Is Discretionary Investment Management Right for You?
Investing isn’t always easy. The decision to buy or sell a specific security requires research, time and the knowledge on how to make a trade. That’s why some people are happy to pass off the work to a wealth manager… read more…
- What Is a Living Will?
A living will is often overlooked in favor of a last will, but both are important and individual documents for you to consider. A living will is a written statement that states your wishes for medical treatment in cases where… read more…
- CPA vs. CFP®: Which Is Right for You?
When you work with a financial advisor, advanced certifications tell you that he or she has put in the work and has the qualifications to do advisory work. Two common certifications are the certified public accountant, or CPA, and certified… read more…
- What Is a Defined Contribution Plan?
About one in five people in the United States collects Social Security benefits each month, according to the National Academy of Social Insurance. Though Social Security benefits provide some income to employees after they leave the workforce, you’ll probably need additional funds to lead a comfortable retirement. That’s where defined contribution plans come in. A study… read more…
- How to Invest for Retirement at Age 50
Many people worry about how much retirement savings they have once they enter their 50s and retirement becomes more imminent. Even if you’re a bit behind on your savings goals, it’s important not to worry and instead make a plan… read more…
- How to Roll Over Your 401(k) to an IRA
There are many reasons why you may have decided to make a 401(k)-to-IRA rollover. You may have left your job for a position at a new company, you may have been laid off or you may have decided to take… read more…
- How to Invest for Retirement at Age 40
If you’re at or near your 40th birthday, retirement is probably still a couple decades away for you. That said, if you haven’t started saving for retirement yet, it can seem too close for comfort. Don’t panic though. There is still plenty of time to get ready for retirement, provided you take the time now… read more…
- What Is a 702(j) Retirement Plan?
There are a lot of options to choose from when it comes to planning for retirement, including 401(k) plans, individual retirement accounts (IRAs) and annuities. While saving in any way is great, each of these offer different benefits and drawbacks. One type of plan, though, should be approached with special caution: The 702(j) “retirement” plan. While… read more…
- Top 10 Places for Creatives in 2018
Some cities are more famous for their creative histories than others. For example, Nashville and New Orleans are practically synonymous with their rich musical traditions. Los Angeles is known as the place to be to work on movies and New York has a long history as a place where writers congregate. But are those cultural… read more…
- Where Are Retirees Moving – 2018 Edition
Despite no longer working, retirees are an important part of a local economy. They number in the millions and make up a large amount of consumer demand. As one example of their purchasing power, the Social Security Administration estimates that in 2018 it will pay out approximately $1 trillion in Social Security benefits, 72% of… read more…
- How to Invest for Retirement at Age 30
By the time your 30s arrive, you’ve probably settled into an adult life. But you haven’t really fully embraced “adulting” unless you’ve started saving for retirement. Whether it’s through an employer-sponsored retirement plan or some other financial product, the time… read more…
- How Spending Changes in Retirement – 2018 Edition
In order to know how much you need to save for retirement you need to have a good estimate for how much you will be spending. But predicting how much you are going to be spending in retirement is difficult.… read more…
- The Fastest-Growing Job in Each State – 2018 Edition
In March 2018, the unemployment rate was a low 4.1%, with about 6.6 million Americans unemployed. This is good news for job seekers, as it’s the lowest U.S. unemployment has been since 2000. Different types of jobs are available in different parts of the country, and it can be immensely valuable for workers today to… read more…