When I accepted my first full time job which I would start after graduating from college, I was excited about having a job I knew I could build into a career. I was looking forward to moving to a city and being an “adult”, but I also had to think of the practical side of living on my own and being Read more…
Small Business Retirement Plan Options
One of the more difficult challenges for small businesses, especially those with less than 5 employees, is finding a cost-effective and 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 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…
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…
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…
So Your Employer Provides a Retirement Plan … Now What?
Whether you just got a new job (congrats!) or you have been working for your company for a couple years, you need to be aware of certain details around your retirement plan. I regularly work with employees enrolled in the plans we advise. Here are the key takeaways I want all employees and plan Read more…
Do You Have a Bad 401(k) Plan?
When I first meet a potential client, I’m always disheartened to see the poor retirement plans offered by employers. Read more…