Investing is one of the best ways to grow your savings and plan for the future. However, the finical market is complex, and for an inexperienced investor, it can be hard knowing where to start and what investments to make. A financial advisor can help you manage your money and provide the expertise and experience you […]
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Defined Benefit vs. Defined Contribution
Company pensions are often categorized as defined benefit (DB) or defined contribution (DC). A defined benefit plan states the specific benefit that a retiree will get. The calculation accounts for certain factors like how many years an employee has worked and the salary received, which dictates the pension one will get. A defined contribution plan […]
How Much Should I Contribute to a 401k?
If you are fortunate enough to have a job with a 401(k) retirement savings plan, you may wonder, "How much should I put towards a 401k? Am I putting in too much, or not enough?" There are answers to these questions, and they depend on a few different scenarios. Let’s talk about the factors you […]
Tips for Choosing the Right Third-Party Administrator for Your Small Business 401(k)
As a small business owner, you may be invested in the future of your employees both while in your employment and after retirement. For that reason, you may choose to incorporate a 401(k) qualified retirement plan into your business. If you are unfamiliar with the process, you may find it very daunting. Which 401(k) qualified retirement plan […]
Financial Tips to Consider as a New Parent
If you and your spouse are having a child together, there can be a dizzying number of things to think about. Many of these concerns tend to center around money, which is why financial planning for new parents is so important. Financial planning with a newborn can be a seemingly Herculean task. You may not […]