Blogs

Starting January 1, 2024, 529 plan account holders can now roll over funds into Roth IRA retirement accounts without incurring taxes or penalties, though there are some restrictions. This update has alleviated concerns for many families about unused or excess funds in...

Thinking about the future can be daunting, but with a Roth 401(k) deferral, you can start saving for retirement and receive tax benefits now and later. What is a Roth Deferral? The Roth 401(k) deferral is a retirement savings option that allows you to allocate a...

Have you ever considered preparing for retirement and safeguarding your future? There are several options to consider. But do you know, you can also look at life insurance as a retirement plan? Yes, a life insurance policy is...

Have you ever wondered how a Roth IRA grows over time and generates interest? Roth IRAs are a popular alternative for many employees wishing to increase their wealth and prepare for retirement. Employers frequently provide these accounts, which provide significant tax...

The simple answer is yes, you can have more than one Roth IRA and you can open multiple Roth IRA  accounts. If you are investing in a Roth IRA, you might know all the advantages it provides for retirement savings. But can you have multiple Roth IRAs? If yes, what are...

Have you ever imagined you could save for all your medical expenses yet have tax-free transactions related to these medical costs? You can do so with a health savings account (HSA). A triple-taxed advantaged medical savings account, an HSA will help you set aside some...

If you are a permanent life insurance policyholder, you can take advantage of the infinite banking concept. But what exactly is it, and is it best for you? What is Infinite Banking? Infinite banking is a financial strategy that utilizes a permanent life insurance...

You can access your 401k to help buy a house, but it's not necessarily the best course of action. It is best to consult with a financial advisor to explore all your options before deciding to tap into your 401k for a home purchase. Down payment is the biggest entry...

Choosing a retirement savings plan for your small business can be tough, but a SIMPLE 401(k) is a great option to consider. This guide will break down everything you need to know about SIMPLE 401(k) plans, making it easy to see if it's the right fit for you and your...

In the world of personal finance, velocity banking has become increasingly popular among homeowners looking to manage debt and build wealth. But is it the right fit for your long-term financial goals? Velocity banking is essentially using a low-interest loan to pay...

Setting up a college savings account is a smart move to invest in education, whether it's for yourself, a family member, or a friend. There are different ways to save for higher education, some of which offer tax benefits. The best choice depends on personal needs and...

What does vested mean? Being vested in your retirement plan means owning the employer contributions they make on your behalf. Imagine you contribute $100 and your company adds $50. If you're not fully vested, you might only own a portion of that $50 after leaving the...