Investment Insights Blog | Plancorp | retirement planning

2020 Retirement Plan Limits

The IRS announced the new limits for 2020 retirement savings and the amount that 401(k) participants, or participants in similar employer sponsored plans can save is increasing. Participants that are over the age of 50 and eligible for the catch-up contribution will experience an increase in Read more…

The Tax Benefits of a Partial Roth Conversion

It always hits our clients at some point after age 50. Retirement is no longer a mirage off in the distance—it’s a real event that’s coming into sharper focus. With that clarity comes new questions about turning retirement savings into retirement income.  Read more…

Small Business Retirement Plan Options

One of the more difficult challenges for a business with less than 5 employees is finding a cost-effective, manageable retirement plan option. Time spent focusing on a retirement plan is time spent not growing your business. But like healthcare and vacation programs, a retirement plan can help your Read more…

The Power of Compounding

Time mixed with the power of compounding is the most potent combination for wealth creation. Read more…

Are Your Retirement Plan Fees "Prudent and Reasonable"?

In 2006, Jerry Schlichter, a St. Louis plaintiff lawyer, began suing 401(k) fiduciaries.  His contention was that retirement plan fiduciaries were not properly overseeing their plans – particularly the duty to make sure fees were “prudent and reasonable.”  Read more…

Own a Business in Illinois?  You May Be Forced to Start a Retirement Plan

Small businesses are facing big changes in Illinois. In 2015, the Illinois State Legislature’s Secure Choice Act began a series of steps that ultimately led to the creation of a “State Sponsored Retirement Plan.”  Now, small businesses may be forced to become participants in a retirement plan Read more…

3(21) or 3(38): A Guide for Business Owners

Plancorp has worked with many business owners over the years to improve their corporate retirement plans. We have rarely come across a business owner who wanted more liability on their plate. Unfortunately, business owners frequently retain more than their fair share of legal liability—without even Read more…

Should I Invest in a Traditional or a Roth IRA?

This is a guest blog post by Jeff Clark, Head of Client Success at BrightPlan, our sister company. When funded early and consistently, an Individual Retirement Account (IRA) can be a cornerstone of retirement planning. By combining the magic of compounding, a long time for growth, and shelter from Read more…

Happy Birthday, 401(k)

Someone just turned the big 4-0. As the director of our Retirement Plan Advisor team, I can’t help but take the time to recognize the 401(k)’s birthday as cause for celebration. After all, this type of account brings tax-advantaged retirement savings to more than 50 million Americans1. A 401(k) Read more…

In 2019, Pay Yourself First

The New Year is always a time for self-reflection. “New Year, New You” headlines abound, as people collectively seek ways to make resolutions that actually stick. Read more…

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