When it comes to picking a health insurance plan, the options can seem confusing. For years, I avoided my company’s high-deductible health insurance plan with a health savings account (HSA) because it felt scarier than simply paying the monthly premiums and predictable co-pays of a PPO plan. Read more…
The Power of Compounding
Time mixed with the power of compounding is the most potent combination for wealth creation. Read more…
The Most Important Rule In Planning For Retirement
The most important rule in planning for retirement is to Save Early and Often. 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…
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…
The Top Five Benefits of Investing in a 401(k)
On average, Social Security replaces around 40% of income for retirees, and even less for high earners. So unless you’ve got a cushy pension lined up, that means the majority of your retirement income will be a result of your own planning and investing. Enter the glory of the 401(k). Read more…
The Most Common 401 (k) Mistakes People Make- And How to Fix Them
As a Retirement Plan Advisor for Plancorp, I spend a lot of my days talking to retirement plan participants about their 401(k) plans. In conversations and presentations, I get to educate participants to help them get the most of their retirement savings. Read more…
The 4 Social Security Questions I Hear the Most
Social Security is like math class: it can be intimidating and complicated, but it’s ultimately extremely beneficial when leveraged properly. Read more…
3 Times You Shouldn't Roll over Your 401(k)
Financial advisors are quick to encourage individuals transitioning into new jobs or who are near retirement to roll their 401(k) account into an IRA. But is a rollover always your best option? While it’s a popular move, that doesn’t mean it automatically makes sense for everyone. Read more…
