Traditional vs. Roth Most employer sponsored plans allow you to contribute to the plan on a pre-tax basis (Traditional 401(k)) or an after-tax basis (Roth 401(k)). Determining which option is best for you can be a difficult question to answer. There are advantages and disadvantages to each option. The Traditional 401(k) reduces your taxable income effectively lowering the amount of… Read More
Posts Tagged ‘ 401(k) ’
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Contractor? You Can Save Your Business Money With This 401(k) Tip!
Gain a competitive edge when bidding on Prevailing Wage or Service Contract jobs. By structuring a tax-efficient 401(k) plan that factors in fringe benefits, we can help your business and your employees save money. If you are a contractor bidding on public government projects, you are required to pay out 100% of the local Prevailing Wage rate. However, you have… Read More
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How Inflation, Returns, Taxes and Fees Affect your 401(k)
Retirement is a time to stop and smell the roses. You’ve worked hard for many years and eventually it will be time to comfortably retire and enjoy the rest of your life. In order to be truly comfortable, it’s important to devise a proper plan to build wealth for you and your family. One of the best ways to… Read More
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4 Tips To Boost Your 401(k)
Having the opportunity to contribute to a 401(k) is one of the best ways to save for your retirement. Let’s take it one step further and discuss a few helpful tips to help boost your savings before you reach retirement. Start early, start now Time is your biggest asset. The younger you start, the more time you will have to… Read More
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Save Smarter, Not Harder
Whether you have just started your first “adult” job or you have spent decades building your career, it is important to be financially prepared. Financial preparedness means you are ready to face unexpected expenses. Below are helpful tips to not only save money, but to be able to save more without squeezing every penny from your wallet. • Contribute to… Read More
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Thinking Of Borrowing From Your 401(k)? Read This First!
While it may be tempting to borrow from your retirement savings, in the end it may not be the best option. Borrowing from your 401(k) today can impact your future and defeat the overall purpose of saving for retirement. Before you withdraw from your 401(k), consider these three reasons why you should keep your hands off. Consider Tax Implications –… Read More