As the holidays approach, we tend to get wrapped up in making plans with our family and friends but the holiday season also means the end of the year, a good time to check if your retirement planning goals are on track. The last day of the calendar year is the contribution/distribution deadline for many retirement accounts, so planning in advance could help you avoid higher taxes with last minute deposits or withdrawals. Here are a few moves to help…
For many workers, turning 50 means the start of the homestretch for retirement savings. But if you are 50 or over, here is an important retirement savings strategy that can help to relieve some of the stress this planning can bring and give your savings a boost as you approach retirement: catch-up contributions. Catch-up contributions allow workers age 50 and older to save more in a retirement plan than the annual imposed savings limit. You can make catch-up contributions at…
COVID-19 is concerning not just from a health perspective, but also from a financial standpoint. The pandemic has put the livelihoods of millions of people in jeopardy and thrown the financial markets and retirement savings into turmoil. While it’s natural for your employees to get discouraged at a time like this, the moves they make—or don’t make—in the coming weeks and months could impact their long-term financial health. Although much of what happens with the stock market is out of…