Retirement Planning Archives

Four Things Entrepreneurs Can do Now to Save for Retirement

While retirement may seem a long way off when you’re young and just starting to build a business – or older and rebooting – it’s important to have a retirement savings plan and stick to it to create the future you want.

Retirement planning can be difficult for anyone, but entrepreneurs and small business owners can face unique challenges. According to a 2013 American Express survey, 60 percent of small business owners said they weren’t saving enough for retirement, and over 73 percent said they were worried about not being able to afford the lifestyle they want in retirement.

While many employees can choose to make automatic deductions from their paycheck towards a 401k, for instance, entrepreneurs have to make a conscious decision to sock away money for retirement, as well as find plans that work for them.

Fortunately there are several things that you can begin doing now to contributing to your long-term financial future. As always, please review these and other options with your financial planner to see what strategy may be most suitable for your individual situation.

1) Open an IRA

If you haven’t already, now may be as good a time as any to open an Individual Retirement Account (IRA). IRAs are long term investments that allow you to save money for the future in a tax efficient way. They also offer catch up contributions if you’re over 50.

Traditional vs. Roth

Traditional IRAs allow you to deduct contributions the year in which they are made, then pay taxes when you withdraw the money. A Roth IRA allows you to pay taxes on your contributions now, rather than upon withdrawal and earnings and distributions may not be taxable if held in the Roth IRA for up to 5 years.

For older investors who are approaching retirement, traditional IRAs probably make more sense, as their tax rate may likely be lower in retirement than it is currently. Younger investors, however, may want to consider a Roth IRA if they believe their tax rate could be higher in the future than when they make their contributions.

Contribution Limitations

Regardless of whether you elect to contribute to a Roth or Traditional IRA the IRS sets annual limits each year stating the maximum individuals can contribute to their IRA based on their annual earnings. For instance, in 2015 you are limited to a maximum of $5,500 annually (or $6,500 if you are 50 or over).

Finally, with either type of IRA, there are penalties and taxes for early withdrawals prior to 59 ½ years old!

Please consult your tax professional regarding your specific situation and the specific rules that apply to you.

2) Consider alternative forms of IRAs to increase your contribution limits

If you are your company’s only employee, or you only have a couple of other employees, you may want to look into setting up either an SEP-IRA or a SIMPLE-IRA.

SEP-IRA

SEP-IRAs allow you to contribute up to 25% of your salary, or $53,000 (as of 2015) whichever is smaller. This is significantly more than what non-SEP-IRAs allow for.

Setting up a SEP-IRA may be an easy choice if you and your spouse are your only employees, but there can be other costs associated if you have other people working for you.

SIMPLE-IRAs

SIMPLE-IRAs provide an alternative that is cheaper for companies with several employees.

With the SIMPLE-IRA, the employer creates an IRA for each employee. Employees have the option to contribute a certain percentage of their income to their IRA. Employers are then required to match that percentage up to a maximum of three percent of the person’s salary, or contribute two percent of each person’s salary into the IRA.

By creating a SIMPLE-IRA the owner is then able to contribute an additional $12,500 ($15,500 for those 50 and over) to his or her own IRA.

If you have only a few employees working for you and you expect to contribute either the full $12,500 or a large portion of it, there is a good chance that your tax savings may more than pay for the cost of contributing to your employee’s IRAs. Please consult your tax professional for more specific information about how this could affect you and your employees.

3) Setup Automatic Deductions

Unfortunately, we all have a tendency to procrastinate, and thinking about retirement is often not at the top of our priorities! It’s easy for entrepreneurs and small business owners in particular to become distracted and forget to contribute to your retirement account(s). Automatic deductions solve this problem.

By setting up your IRA and other retirement accounts to take money directly out of your bank account or paycheck each week (or month,) you can ensure that you contribute as much money as you feel you can, up to the full tax deductible amount, each year. You no longer have to worry about forgetting to, or putting off, contributing.

With any IRA, think carefully about how much you can realistically contribute. They are considered long term investments and you cannot access the money prior to a specific age without incurring taxes and significant penalties for making early withdrawals. Please make sure you are carefully considering your short and medium term goals. And remember: starting to save early is a good way to get on the road to achieving your goals.

4) Speak with as Experienced Financial Planner to Help You Create a Plan

Taking care of long-term financial goals can be a challenge but fortunately you don’t have to go it alone. Financial planning professionals can help you create an individualized plan focused on your specific goals. Whether they are:

Saving for retirement
Saving for your children’s education
Buying a home
Having a baby

Financial planners are here to help you plan for the future you envision for yourself and your family.

With over a decade’s worth of experience in financial services, Brad Sherman is committed to helping his clients pursue their financial goals. Contact Brad today to learn more about how you can better prepare for retirement.

Learn more about our Retirement Planning services.

Having the Money Conversation

Millennials have a tremendous advantage over their Baby Boomer parents because they are comfortable talking about money. Having grown up with social media and the internet, this generation is not as private as their parents and grandparents are, especially about subjects like money and finance. The advantage is that open conversations can reduce fears and increase understanding, which can result in better decision making.

Yet, with all this comfort in discussing financial matters, many Millennials are hesitant to meet with a financial advisor. It’s one thing to gather information from family and friends or read articles about investing, it’s another to discuss your personal information with a financial advisor. That’s when it moves from theoretical to personal and that can create a great deal of fear and discomfort.

Why Fear Gets the Best of Us

How Much Do You Really Know About Finances? As educated professionals, it’s common to feel like you should know everything. After all, if you don’t understand it, a few internet searches should provide the answers!

When it comes to money matters, though, many Millennials feel like a fish out of water. Internet searches can provide information that’s both confusing and conflicting, and that doesn’t answer individual questions about strategy and direction.

Then there is the question of what information can be trusted. Is the site legitimate and can the writer’s – and site’s – motivation be trusted? While financial information is plentiful, much of it’s either very general or coming from a sales site that promises a secret formula that will turn you into a millionaire.

Financial decisions by nature are very individual and personal. Because there’s no one-size-fits-all investing strategy, personal consultations are invaluable.

Advisor motivations. Can the advisor be trusted? A trusted advisor needs to understand your circumstances, goals, dreams, and aspirations. Once they do, they can help to create a long term strategy that will help to make those dreams a reality. But you must be able to trust that your advisor will make recommendations that are most beneficial to you, the client, not the best for them, the advisor.

Addressing these concerns in an open conversation will go a long way. No one wants to be sold a product. We all want to invest money in a sound strategy. Understanding the reasons for the recommendation will help you understand how it may benefit you and help you pursue your long term goals.

Fear of not being understood. As complicated individuals we want to appear like we have everything in order. In reality, sometimes we’re confident, other times not so much.

Financial advisors have seen nearly every level of financial preparedness. They have seen financial messes and worked with clients to get things corrected. They have seen strong portfolios, weak portfolios, no portfolio, and everything in between.

Even if you don’t feel you have all your ducks in a row, an advisor can help. If you’ve made bad decisions in the past, they can make recommendations for corrective action. If you’ve been unable to get things in order on your own, working with a professional can be the fastest way to get on track.

Markets not doing as expected. This can go two ways. If you invest conservatively and the market takes off you might end up kicking yourself for not being more aggressive. If the markets are slow and you invest aggressively you can end up wishing you’d been more conservative.

When you meet with an advisor, you’re meeting with a professional who understands the investment business and who can make recommendations that are consistent with your financial goals. An advisor does not have a crystal ball; remember that long term investing is not about beating the markets, it’s about making strong financial decisions that over time will lead to increased confidence in financial matters.

Pulling the Trigger

The first step is always the hardest. This is true whether you’re trying to establish a workout routine, learn a new language, start a new job, or change your investing strategy. Resisting change is natural and we are creatures of habit. However, there comes a point when, in order to grow and progress, we have to stop making excuses and get started by meeting with a financial advisor.

Make the appointment. Even if you don’t think you know enough, have enough money to invest, have a good enough paying job, or whatever the excuses for delays have been.

Before you meet with the advisor, write down questions you have. What things have you heard and what things do you want to understand. This can guide the conversation as you begin to develop a relationship with an advisor.

A financial advisor at Sherman Wealth is someone you’ll want to get to know! You’ll want them to know everything about you and your family’s needs. As your advisor learns more about you, they’ll be able to make the appropriate recommendations as opportunities arise.

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What is Dollar Cost Averaging?

The concept of dollar cost averaging is investing a set amount of money at regular intervals. This might mean a percentage of every paycheck that is used for investing or a specific dollar amount. You might start with as little as $50 a month or $50 a pay period and that will begin to create a portfolio that pays for future needs.

Advantages of Dollar Cost Averaging

1) Establishes a habit of investing. One of the largest benefits is you begin to pay yourself first and take care of future needs today. Establishing a habit of setting aside a little money for tomorrow will help you live within your means, have more thoughtful budgeting, and be better prepared.

2) The investment is built into your budget, and you learn to live on what remains. The interesting thing about money and finances is that you tend to spend what you have. If there is a little less in the account each month you will adjust spending to accommodate for what you have. Even if it does not appear that there is money for investing you might be surprised how easy it is to “find” a small amount that can be earmarked for investments. A simple thing like bringing lunch twice a week instead of eating out can result in saving over $50 a month to use for investing.

3) Dollar cost averaging purchases shares at a set time each month regardless of where the investment price is. This means if the price is lower you purchase more shares. If the market is higher less shares are bought. The result is a greater tolerance for market fluctuations because you gain a better understanding that the markets move every day.

4) No Large Sums Required to Begin. Dollar cost averaging can be started with small amounts of money. One possible strategy is to increase monthly contributions at least annually. The more you raise the contribution amount the larger and faster your investments may grow over time.

5) Flexibility. Monthly contribution amounts can be changed at any time. The amounts can be raised or lowered depending on life events that impact your budget. In a perfect world the contributions would always increase, but sometimes that does not match real life events. The ability to adjust contributions reduces risk and allows for greater flexibility to meet current demands.

6) Great long-term strategy. Building a portfolio from the ground up can be accomplished through dollar cost averaging and regular contributions. Your investment should grow over time through both additional contributions and portfolio growth. As you receive bonuses or other financial windfalls you can make additional one time contributions as your finances allow.

When it comes to investing there are no short cuts. Starting early and making regular investments will help to provide financial security and accounts that will build over time. When you start early you are less tempted to take on more portfolio risk and are better able to reach long term financial goals.

The future is uncertain and setting aside a little each month to pay for long term financial needs is one of the soundest ways to pursue financial security.

“Dollar cost averaging does not protect against a loss in declining markets. Since such a plan involves continuous investments in securities regardless of the fluctuating price levels, the investor should consider his or her financial ability to continue such purchases through period of low price levels.”

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5 Big Picture Things Many Investors Don’t Do

These simple strategies can make a big impact on your long term portfolio.

Investing and finances can be overwhelming and confusing. Having so many options available, how is an investor to choose which direction to go. For those who seek to understand, it can become paralysis by analysis, where the more you study, the more you realize you need to know. With all of its complexity, simple investment strategies can be very effective, if the right choices are made.

Here are 5 Strategies most average investors don’t focus on, but should.

Have a thought out strategy with a purpose. A common mistake of investors is to put money in an account without a lot of thought as to the goals you want to achieve. Starting an investment fund without goals is like driving in a car with no destination in mind. Without a purpose for the money, it is impossible to measure the success or failure of the investment.

Start Early with a Time Horizon. Starting early gives your money more time to grow. The longer the money is invested, the better it can weather market fluctuations and the more likely you are to successfully reach your goals. Along these same lines, set specific goals around a time horizon. How long will each bucket of money be invested? This is a very important piece to your overall strategy because it will help evaluate the specific investments that will be most beneficial. If you are 15 years away from your goal, investment choices will be much different than if you are 5. The closer you get to the destination, the less able you are weather market fluctuations. This should be considered in your overall strategy.

Increase The Amount Invested Each Year. When looking over your investment strategy, separate the performance and the contributions. The performance is how much your money has grown through your investment strategies. Contributions are the dollar amount that you have added to your investment accounts. These two factors make up the total growth of your portfolio. Both of these numbers are important to your overall strategy. The account performance should be reviewed independent of contributions to help you stay on track with the right investment choices for your risk tolerance and time horizon. The amount you have added in contributions is what you have built into your budget for long term financial goals. When you increase those contributions each year, your account should grow significantly faster. Small increases are often not felt in the monthly budget.Let’s say you currently contribute 6% from your paycheck into your 401k. In addition to that you are putting $50 a month into your IRA and $50 a month into a college fund. At the beginning of the year, increase your 401k contribution by 1%. Now you are putting away 7% in pretax dollars for retirement. Then the next quarter increase your IRA contribution to $75 a month and the quarter after that, increase your college fund contributions by $25 a month. These small increments will barely be noticed in your monthly budget. The $25 a month increase is less than $1 a day. If you are earning $50,000 a year, the 1% increase with your 401k is only around $21 a paycheck if you get paid bi-monthly, in pretax dollars. Meaning your paycheck will be reduced by less than $20 a paycheck due to the pretax allocation. If you increase the contribution at the time of your annual raise, it will only be noticed in the form of larger investment accounts.

Review your asset allocation as a whole picture. When you have separate investments for different financial goals, it is more of a challenge to see your portfolio in a complete picture. Having investments with different companies can increase these challenges. When you have a 401k at a current job, and maybe one or two from previous jobs, they are more difficult to keep up with. Then you might have current investments for retirement, college and savings for your first home. Taking a holistic view of all your investments will help to ensure you have the best asset allocation possible. When your allocation gets out of whack, you might end up taking on more risk than you are comfortable with, without realizing it. It is not always possible to have all your investments under one roof, especially with a current 401k. However, including these investments in all financial reviews will help you stay on track for your overall investment goals as well as ensuring your asset allocation and risk profile are appropriate.

Understanding what you can control. In life we like to have control over our current and future destinations. Happiness and success often come from recognizing what we can control and focusing on that. Investing is no different. We cannot control the markets and we cannot control the economy. There is a host of circumstances and events that are outside of our control. Stressing and worrying about those things is not beneficial. You can control spending and investment rate. You can control which investments you choose and the amount of risk in your portfolio. Staying focused on these elements will lead to higher comfort levels which will encourage staying the course.

Financial investing success has more to do with implementing sound strategies, rather than luck or great market timing. It is more about staying the course, than picking the “hot” stock that will make you a millionaire.

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YOLO (You Only Live Once) So You Need A Retirement Goal

When you read through blogs or scroll through hashtags and memes on social media, there is a recurrent theme among millennials regarding the live-for-today sentiment. Whether it’s the acronym, #YOLO (You only live once) or the older, maybe not-so-cool phrase, ‘Carpe Diem,’ we are constantly reminded that we should stop worrying about the future and focus on today. But when it comes to your finances, is society sending us a detrimental message?

When addressing one’s plans for retirement, it is sometimes difficult to find a happy medium between the avoidance of financial responsibilities and the overwhelming, anxiety-inducing worry over one’s financial future. Below are two very common thought processes that I see often.

1) I am not worried about the future now, I’ll deal with it later

Unfortunately, our day-to-day pressing needs and our live-for-today goals become the priority and we cannot focus on or visualize what is not right in front of us. We tell ourselves, ‘I’ll do it tomorrow.’ Whether it’s not participating in a 401K because the extra monthly money is needed for utility bills or prolonging the start of a college savings fund for your child because you have mortgage payments to make, you are setting yourself up for a worrisome retirement.

It is important that you stop and visualize, in vivid detail, a big retirement goal. Are you visualizing being able to enjoy the finer things in life or are you just hoping to maintain the lifestyle that you are living today? What details do you see when you make this visualization?

Consider these important factors while you are visualizing:

If I continue at today’s rate-of-saving, what will my savings be at retirement?

Do I have children? Do I plan to have more children?

Do I plan to send my children to college?/Can I afford college tuition?

Do I own a home? Do I have a mortgage?

Have I planned for rising health concerns as I get older?

If something should happen to me, will my family be taken care of?/What kind of debt will they incur?

2.) I worry so much about my future financial position, that I sacrifice my daily happiness

Studies have shown that intense worrying about money or financial situations can affect many aspects of your life from mental health, to relationships, to career. When consumed with worry over your finances, it can inflict on your ability to focus thus creating a distraction and inability to enjoy the present.

While it is important to plan for the future, it should not be so overwhelming that it interferes with one’s day-to-day abilities. Ask yourself:

What am I really worried about?

Is it something in my control? If so, am I taking the necessary steps?

If it is not in my control, what steps can I take to ease my anxiety?

Do I have a financial advisor that can help to address financial concerns and alleviate unnecessary worry?

Whether you identify more with the first or second way of approaching your finances, or possibly somewhere in the middle, it is important to address your financial concerns with a trusted financial advisor. Unnecessary worry can cause you to feel paralyzed, out of control, and unable to make the right financial decisions concerning your retirement. However, failing to address future financial responsibilities, and avoidance altogether, can prove to be counterintuitive, creating anxiety and worry at a later date. Suddenly financial responsibilities show up at your door and you no longer have the option to ignore or put off. In taking small steps along the way, you can gain control of both your finances and your worry.

Call Brad Sherman at Sherman Wealth Management today and set up a no-cost financial consultation.

Learn more about our Retirement Planning services.

Millennials: The Fiscally Conservative Generation

Millennials Investors-Fiscally Conservative

As the Millennial Generation continues to get more work experience under their belt, statistics from a UBS Wealth Management survey show that this generation is the most fiscally conservative generation since the Great Depression. With most recent generations, the advice that has served them best is to invest their money. With this generation, more and more people are listening to the advice that tells them to save their money in CDs or bank accounts.

Because interest rates are at nearly rock-bottom, investors who play it too safe will very likely lose money due to the effects of inflation. According to Judy Martel in her recent blog “Cash is King for Millennials”, Millennials allocate an average of 52 percent of their portfolio to cash, compared with 23 percent for investors of other generations.
Many companies are promoting the merits of starting a 401(k) program and giving their clients tips on 401(k).

Tips for the fiscally conservative

• Don’t opt out, opt in

• Don’t reduce your company match, find out how to potentially maximize it

• Adjust your investment allocations as you age• Do not borrow or withdraw money from your 401(k) until you are retired

and, most importantly…

• Start saving and investing now

Informative data at your fingertips.
Sherman Wealth Management

LFS-867213-022614

401k plan Millennials retirement Wealth Management

Your 401K Program: A Little Savings Now Goes a Long Way

Though it may seem daunting, investing in your future is a positive choice. Your experience doesn’t have to be intimidating; I will be happy to serve as your financial planner to help guide you through the process. There is no better time to begin than now. The earlier you can begin to save, the greater earning potential you have at retirement.

Why a 401k program is essential

Assuming an average annual return of 8 percent, setting aside only $4,000 per year starting in your 20s could make you a millionaire by age 62, according to an article by Hitha Prabhakar in U.S. News and World Report. The article further explains that the Employee Benefit Research Institute reported in January 2014, that 30 years of 401(k) savings, combined with Social Security benefits, should generate an income that replaces at least 60 percent of per-retirement salaries.

In addition to putting away money on your own, many companies offer a “matching” program for retirement savings. Some companies may have avesting schedule, which means that the match is earned over time. However, if you don’t take advantage of a 401k program, you are passing up the opportunity for “free money” contributed to your retirement account by your employer.

We started this company with a goal to help educate investors, and guide them through an otherwise daunting experience. Sherman Wealth is happy to look at your 401(k) plan and give you ideas on how to best manage your money. Give us a call at (240) 462-5273 if you would like more information in creating a retirement savings fund. Your retirement may seem far away, but developing a savings plan early you can help ensure confidence in your financial future.

Find an accessible path to your financial future at Sherman Wealth Management.

Learn more about our Retirement Planning services.

How much money do you need for retirement these days?

Although retirement may seem distant, it is important to start a strategic plan now so you are prepared when that day arrives. Timing is very important, and the sooner you start saving and investing, the sooner you can begin to focus on a life that will not require you to work.

How much money do you need for retirement?

Well it depends on three factors:

(a) when you retire

(b) where you retire

and

Not all of these questions need to be answered right away, but saving now in a retirement fund that has time to grow is invaluable. Fidelity says to try to have saved at least as much as your current salary by the time you are 35, have three times your salary saved by the time you’re 45, and at least five times your salary by your 55th birthday. When it’s time to retire, your goal should be to have saved at least eight times your ending salary. These numbers aren’t set in stone, but are good benchmarks to follow when starting your retirement savings and investment plan.

Dependable advice in a fluctuating market.

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Advantages of Participating in Your Workplace Retirement Plan

As young adults, 20 and 30-year-old’s tend to procrastinate when it comes to saving for retirement, thinking they have all the time in the world.But the key is to start now. When it comes to saving for retirement, there are few better ways than a workplace plan such as a 401(K). Yet, there are a few common excuses for not opting into an employer compensation plan.

● There will always be Social Security
● I can’t afford it right now. I’m not making enough money to save yet.
● Fear of losing money in bad investments.
● I’m so young, I have all the time in the world.

The 411 about the 401(K)
A 401K allows employees to withdraw money from their paycheck prior to taxes and invest it in a retirement savings plan. Many employers then match the contributions proportionately, sometimes even dollar for dollar. The contributions are not taxed until the money is withdrawn. As of 2014, you can contribute up to $17,500 per year.

Funds withdrawn prior to age 59 ½ are subject to a 10% penalty and are taxed as current income in the year withdrawn.

A Mini History Lesson about Pensions and Employer Compensation Plans
It was during the American Revolution, that what we know as a pension, came about. The Continental Congress offered soldiers a monthly lifetime income as an incentive to join General Washington’s army.The income they’d receive when the war was over would be a payment for their service.This lifetime income was called a pension.The offer was repeated by the federal government the during the Civil War and has continued ever since.

The first private company to offer a pension plan was American Express in 1875. They gave an income to each retired employee. The amount was equal to half of the worker’s annual pay, based on an average of the worker’s final ten years of employment (up to $500 annually). Over the next 50 years, hundreds of other companies created similar plans. (However, now it’s based on the average of the worker’s highest paid income of 35 years!)

The end of 1929 brought the Great Depression. Millions of people became unemployed which created fierce competition for jobs.The nation’s economy at the time was agricultural and industrial— both very physically demanding— placing older Americans at a distinct disadvantage. So when older employees lost their jobs, they were unlikely to find new ones and found themselves involuntarily retired.

Thus, in 1935 came the Social Security Act which was signed by President Roosevelt,establishing the first public retirement plan and a national retirement age of 65.Similar to the private plan created by American Express, Social Security was to pay monthly benefits based on each worker’s length of service and average annual salary.

Addressing the Excuses

There will always be Social Security
When the Social Security Act was established, the average American lifespan was 61.7 years, however, today it is 78 years. Now, one must plan income for retirement to get you to age 100 or beyond. You can no longer solely rely on Social Security alone to maintain you through your retirement years. It should only provide you with one-third of your retirement income.

Few companies still maintain traditional pensions (paid for by employers). In this day and age, people are no longer staying at one place of employment for their entire career which is usually the case in which a pension would still exist. The vast majority of today’s retirement plans fall under “defined contribution plans” such as the 401(K).

I can’t afford it right now. I’m not making enough money to save yet.
You do not have to make a lot of money to participate in this program. Typically an employer only requires 1-2% of the participant’s salary. On a $50K salary, that is only $42 to $84 per month. And remember, your employer may contribute proportionately every time you do. How much do you spend on your cable bill? Or phone bill? Or your gym?

Your employer automatically deducts your contributions every time you are paid. If you don’t see the money, it won’t be so hard to part with it! Most of the legwork to provide investment options is done by your employer and the professional advisers they hire to assist them. An increasing number of plans offer “auto enroll” and “auto escalate” features. The first automatically signs you up for your retirement plan; the second automatically boosts contributions as your salary increases.

Another perk: You get two tax advantages when you save in a 401(K) plan. First, your contributions are tax-deductible. Second, the money you contribute doesn’t count toward your gross income for the year, lowering your taxable income. There are also no taxes on interest or dividends at the end of the year like in a non qualified investment or savings. Say you put 10% of your $50,000 salary into your account each month. That’s $416 you don’t have to pay tax on. If you’re single, that translates to about $104 in monthly tax savings, or $1,245 a year and tax deferred until its withdrawn.

Fear of losing money in bad investments.
Sometimes taking your hard earned money and putting it where you can’t see it is scary. People who have fear of going to the doctor but have to go anyway. Think of it the same way. Most 401(k)s let the employee choose where to invest their savings from a variety of options ranging from aggressive choices as to less volatile choices.

I’m so young, I have all the time in the world.
The key to success of a 401(K) is to start as early as possible and to try and contribute the maximum allowed. According to FinancialSamurai.com, in 2014, if a 22 year old started participating in a 401(K) by the time they are 65, they will have saved $743K to $3.5 million, depending on the percentage of contributions to the plan. But if someone does not start contributing until age 40, by the time they are 65, they will have saved $305.5K to $550K, depending on the percentage of contributions to the plan. Wouldn’t you prefer to be the former?

Don’t leave money on the table. If your company offers a 401(K), find out the details of the plan and consider taking advantage today.

Learn more about our Retirement Planning services.

Four Things Entrepreneurs Can do Now to Save for Retirement

1) Open an IRA

2) Consider alternative forms of IRAs to increase your contribution limits

3) Setup Automatic Deductions

4) Speak with as Experienced Financial Planner to Help You Create a Plan

Related Reading:

Having the Money Conversation

Why Fear Gets the Best of Us

Pulling the Trigger

Related Reading:

What is Dollar Cost Averaging?

Advantages of Dollar Cost Averaging

Related Reading:

5 Big Picture Things Many Investors Don’t Do

These simple strategies can make a big impact on your long term portfolio.

Here are 5 Strategies most average investors don’t focus on, but should.

Related Reading:

YOLO (You Only Live Once) So You Need A Retirement Goal

Related Reading:

Millennials: The Fiscally Conservative Generation

Tips for the fiscally conservative

Your 401K Program: A Little Savings Now Goes a Long Way

Why a 401k program is essential

Related Reading:

How much money do you need for retirement these days?

How much money do you need for retirement?

Related Reading:

Advantages of Participating in Your Workplace Retirement Plan

Related Reading:

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