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Retirement Planning

Retirement Savings Contribution Limits for 2025 by Olga Ismail, AIF®

Posted December 15, 2024

The IRS released the retirement savings plan contribution limits for 2025, raising the cap on pre-tax contributions to employer-sponsored plans, including 401(k), 403(b) and certain 457 plans. For individual retirement plan contributions, the annual limits remain unchanged. Employer-Sponsored Retirement Plans Employees may contribute up to $23,500 via salary deferral to their workplace 401(k), 403(b) and […]

Now is the Time to Review Estate Planning Documents by By Kathleen Marteney, CRPC®

Posted December 12, 2024

One of the many things individuals learned from the pandemic is that the unexpected can happen, and the best way to be prepared is to have a plan in place that meets your evolving circumstances. It is wise to proactively take stock of your physical and financial health throughout various stages of life and consider […]

Is Now the Time to Consider Insurance Products to Generate Guaranteed Income in Retirement? by Scott Montgomery, CLU, ChFC

Posted December 3, 2024

High interest rates and persistent inflation have raised red flags for many investors nearing or entering retirement. In this uncertain environment, soon-to-be retirees are increasingly turning to annuities to help diversify and protect their retirement savings while creating a steady and predictable income stream for all their remaining living years. Determining whether annuity products are […]

Rethinking Inherited IRAs After the SECURE Act by Lee F. Hediger

Posted November 28, 2024

The SECURE Act’s elimination of stretch IRAs poses a challenge to many high-net-worth account owners who had hoped to pass their savings to the next generation and allow inheritances to continue growing tax-free over beneficiaries’ lifetimes. Under the law, non-spouse IRA beneficiaries must withdraw the entirety of inherited IRA accounts within 10 years of the […]

3 Considerations Before Making a Roth Conversion By Robert Mark Weiss, CFA

Posted November 13, 2024

Converting a traditional IRA to a Roth IRA can be a smart option for individuals seeking tax-free growth and the flexibility to take tax-free withdrawals in retirement or pass their savings to future generations free of federal income tax. However, employing this strategy contains significant financial implications that individuals must address and carefully plan for […]

Helping Aging Parents Decide to Stay in Homes or Move Out by Brendan T. Hayes

Posted November 4, 2024

A harsh reality of getting older is the potential that physical and mental limitations can impact individuals’ quality of life and their ability to continue living independently. When individuals fail to plan for these possibilities, decision-making may fall to their adult children, who may not grasp their parents’ emotional ties to a family home or […]

Four Steps to Take Charge of Your Finances Now By Olga Ismail

Posted October 16, 2024

In our busy lives, it is not uncommon to put off for tomorrow the things we do not have time for today. This is especially true for things that make us uncomfortable or require significant time and effort to squeeze into our already hectic schedules. However, by sweeping these issues under the rug, you are […]

401(k) Plan Sponsors’ Nondiscriminatory Testing Responsibilities By Sean Deviney, CFP®*

Posted October 2, 2024

Employers sponsoring non-safe harbor 401(k) plans must perform annual ERISA- and IRS-mandated testing to ensure they do not disproportionately favor highly compensated employees (HCEs) over rank-and-file non-HCEs. It is critical businesses understand the formulas for these nondiscriminatory tests and the steps they must take to fix a failure or risk losing their plans’ tax benefits. […]

Understanding the Difference between Traditional IRAs and Roth IRAs By Brendan T. Hayes

Posted September 11, 2024

A Roth IRA is a unique retirement savings vehicle that allows eligible individuals to set aside money today for a potentially tax-free income stream in the future. Like a traditional IRA, a Roth arrangement allows individuals to make annual contributions of up to $7,000 in 2024, or $8,000 for savers age 50 and older. However, […]

Protect your Marriage from Financial Infidelity by Kathleen Marteney, CRPC

Posted August 29, 2024

If you think the only form of cheating in a marriage happens in the bedroom, you would be wrong. A growing number of marriages suffer the damaging effects of financial infidelity in which one spouse intentionally lies about or hides assets or other financial information from the other spouse.  Both are examples of betrayals that […]

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