IRA
What Happens if I Don’t Name a Beneficiary? Who Gets My 401(k)?
KEY POINTS Neglecting to name a beneficiary means your assets may be designated to your estate and become subject to probate. Plan ahead to review your beneficiary information once per year and when major life changes happen. Avoid subjecting your loved ones to the probate process by designating both primary and alternative beneficiaries. You may…
Read MoreAre Your Retirement Assets Protected?
For many, asset protection is an after-thought, if thought about at all. Are you aware that retirement accounts such as Individual Retirement Accounts (“IRAs”), 401(k)s and Defined Benefit (“DB”) plans receive protection from creditors and bankruptcy? Asset protection is often associated with high-net-worth individuals, business owners, professionals such as doctors, surgeons, attorneys, and CPAs, as…
Read MoreSIMPLE IRA to 401(k) for 2018? The deadline is now
If you’d like to move to a 401(k) for 2018, you must notify employees by 11/2 As your business or that of your clients has grown, you may be thinking it’s time to upgrade your retirement plan from a SIMPLE-IRA to a 401(k) Plan. The issue is that you can’t switch mid-year as IRS rules…
Read More2nd chance for those who missed the 60-day IRA/401(k) rollover window
New IRS waiver program effective immediately If you, one of your clients or one of your employees inadvertently exceeded the 60-day limit when moving retirement funds associated with a “rollover”, they can now receive an IRS waiver of penalties and keep this funds in a retirement plan. The full details may be found in IRS Revenue…
Read MoreSIMPLE IRA to 401(k) for 2017? The deadline is now
If you’d like to move to a 401(k) for 2017, you must notify employees by 11/2 As your business or that of your clients has grown, you may be thinking it’s time to upgrade your retirement plan from a SIMPLE-IRA to a 401(k) Plan. The issue is that you can’t switch mid-year as IRS rules…
Read MoreTop Reasons for Setting Financial Goals
Retirement planning is most certainly a marathon and not a sprint. It is a journey you will be on for decades, with a clear financial goal at the “finish line”. That goal is to be able to retire at a standard of living that is acceptable to you. The total nest egg you need to…
Read MoreTop Reasons to Invest for Retirement
Here is a breakdown of the inherent benefits and incentives involved in retirement planning. Choice There are unlimited investment options available in today’s world. You can stay with a simple index fund or you can tailor your choices. Low Costs The costs of investing in retirement plans and IRA’s have never been lower. You are…
Read MoreTop Reasons to get Educated on your Financial Future
Hindsight is 20/20, but that wisdom winds up arriving too late. In order to secure a satisfying and comfortable retirement, you will need to educate yourself about how to arrive at such a successful financial future. A financial advisor can handle the specifics of investment vehicles and strategies, but the long-term road map is dependent…
Read MoreExpert 401(k) Customization for Your Retirement
Business owners have enough day-to-day stress. The last thing you want to worry about is managing a retirement portfolio. Your future well-being depends on this kind of long-term planning, and it is important to have your needs catered to in a customized way. At Odyssey Advisors, we pride ourselves on this level of customer attention.…
Read MorePlan Management: Proactive Peace of Mind
The next best thing to a crystal ball is solid planning; your financial future will be well grounded and clearly defined. With this approach to plan management, you can be proactive instead of reactive. The bottom line, in the long run, is that you will save more money and have peace of mind along the…
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