Monthly Archives September 2018

Resist Tapping Into Your 401(k), Employer-Sponsored Plan If You Can

‘Leakage’ can erode assets and negatively impact your retirement wealth If you find it difficult to save or pay for big financial emergencies when they arise, tapping into a pot of money can be tempting – even if it’s your 401(k)-style employer-sponsored plan. But if you’re able to resist, rewards do come from the power of compounding. The problem, though, is that a small percentage of Americans take early withdrawals and withdrawals after age 59½ from their 401(k)s each year or cash out of their plan when they switch jobs. A large percentage – typically about 20% of plan participants
Read More

Categories: Financial Ideas and Retirement.

September is Life Insurance Awareness Month

Risk Management Is About More Than Your Investments A lot of financial services professionals talk about “risk” when it comes to your stock market investments. But risk can encompass more than your investment risk tolerance. The broader definition of financial risk is the possibility of loss from any unexpected life event. For instance, what will happen to your family’s income if one spouse passes away, becomes disabled or unable to work, or needs long-term care? What happens to your kids’ education fund, or your retirement? Risk management in this case means shifting risk of financial loss from adverse events to
Read More

Categories: Financial Literacy and Life Insurance.