What Is a Plan Sponsor?

Every company needs a talented team to support its mission and goals, drive revenue, and facilitate overall success. Part of retaining your hard-working employees is offering them a robust benefits plan that contributes to their well-being and helps prepare them for the future. If your business is looking to offer employees a comprehensive retirement, pension, or[...] Continue reading

Spousal Consent Requirements for IRAs

The spousal consent requirements when making withdrawals or changing beneficiary designations differ depending on the type of retirement plan. The state in which the couple resides may also change the rules. Therefore, it’s essential to learn the general laws and exceptions to make informed decisions. The guide will teach you when you need spousal consent when[...] Continue reading

How to Become a Millionaire – Understanding Compounding Interest

Compounding interest is like a snowball rolling downhill. It starts small, but the more it rolls, the bigger and faster it gets. That's the magic you can leverage to become a millionaire. Here's how: Start Early: The key to supercharging your compounding is time. The earlier you start saving and investing, the more time your money has to grow exponentially. You can see[...] Continue reading

How to Save for College and Retirement

The future is right around the corner, and with it will come various new expenses to manage. As you advance in your career and build your net worth, you'll see retirement on the horizon. Sooner yet, you'll send your children off to college. Retirement and college tuition payments are important to include in your budget. A financial strategy that sets aside money is needed[...] Continue reading

How to Plan for Medical Expenses in Retirement

Saving for retirement involves building a fund to cover your housing, food, transportation, and medical expenses. Recent recommendations suggest putting aside at least 20% of your salary and planning to stick to savings withdrawals of less than 4%. Still, your nest egg may not cover your most significant expense — health care. A typical 65-year-old retired couple[...] Continue reading