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401(k) & 403(b)

401(k) & 403(b)
401(k) and 403(b) are both employer-sponsored retirement plans, and the different names come from IRS section codes. They work in a similar way, but the main difference is that 401(k)s are set by companies, while 403(b)s are by non-profit organizations such as schools, religious organizations, and hospitals. In both plans, individual accounts are set and…
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Owner-Only K

Owner-Only K
Owner-only K, also called by many different names, is a retirement plan very similar to 401(k). However, like the name implies, it is for business owners only. With tax deductibility and tax deferral growth, it's an excellent tool for small business owners  who want to save the maximum amount for their retirement. The following shows a…
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Why Financial Advisor?

Why Financial Advisor?
Why a Financial Advisor? If you don’t already have a financial advisor, it is likely that you may not want to pay the fees or you don’t understand the benefits of their services. If you are one of the savvy investors who continues to study to improve your financial situation, that’s great! But seek a third…
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What you can do today for your loved ones

What you can do today for your loved ones
What will happen if you don't wake up tomorrow morning? Money, house, car...everything you own in your name may go to a legal process called probate, and your state will decide who gets your assets. If there's a dispute, the state will decide on your minor children's custody as well. Even if there's only one…
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Essential Factors in Retirement Planning

Essential Factors in Retirement Planning
AGE Your age is one of the very important factors in determining how much you need to save monthly to reach your retirement goal. The younger you are, the more time you have, therefore you can achieve your retirement goal with less monthly savings. Likewise, the older you are and closer to retirement age, the…
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