Author: Admin

The current inflation rate in the United States is 8.2%, so it is not surprising that people are feeling anxious about the future. So anxious that many are no longer contributing to their 401(k)s. Given the current prices of food, gas, and shelter, it’s easy to see why people make this 401(k) mistake during inflation. While it is tempting, this 401(k) mistake may be one you may regret. An Alarming Number of People Are Making This Mistake A recent study by Allianz Life Insurance of North America found that American workers are struggling with inflation. One of the main ways…

With inflation sky-high, many Americans are cutting back on 401(k) contributions. Inflation is eating away at our purchasing power. Many of us are stretched too thin even trying to cover basic essentials. It’s not only forcing us to rethink where we put our money, but it’s also increasing our stress levels about our investments. A survey by Mercer found that “75% were significantly financially stressed because of inflation and market volatility.”¹ This financial stress is causing many Americans to make mistakes regarding their 401(k) contributions. A recent study by Allianz Life Insurance of North America found that one of the…

Don’t Miss Out: SECURE Act Tax Credits & 401(k) Plan Features The most comprehensive pension reform in 20 years, the SECURE Act, is a step forward to allow people greater access to retirement plans. The act hopes to expand retirement savings while alleviating administrative headaches. As such, the SECURE Act includes incentives such as: · Tax credits to encourage business owners to set up a workplace retirement plan · 401(k) plan design features to help employees better prepare for their futures · Administrative improvements for managing a retirement plan Tax Credits for Small Businesses Tax credits for eligible employers are…