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Category: Retirement

Don’t Sink Your Retirement Fund

Don’t Sink Your Retirement Fund

Benjamin Franklin stated, “Beware of little expenses; a small leak will sink a great boat.” Yet more than 200 years later, we still have not learned that even small fees add up to large expenses. This consistently happens with defined contribution plan fees, especially in 403(b) plans. Employers don’t seem to understand the fees they are paying, or even worse, the fees their employees are paying in lost investment opportunity. There are a number of ways providers can charge fees,…

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Teach Your Employees a Financial Magic Trick

Teach Your Employees a Financial Magic Trick

I was always fascinated with magic tricks. I could never figure out how the trick was performed, even when the magician revealed the secret. However, there is a financial trick that everyone can learn, and there are no secrets or magic involved. I will show you how an employee can have $1,029 deposited into their 403(b) account for only a $261 net after tax contribution, using the Savers Credit. The Savers Credit is a dollar for dollar tax credit, provided…

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If in Debt, Should You Still Save?

If in Debt, Should You Still Save?

So, you may be in debt—should you still make investments for the future? Some believe debt should be paid off before considering to build up your assets; and others debate that investing for the future should be in the forefront. Is there a right answer?  It’s complicated. We checked on what our partner Vanguard and other financial experts had to report on the subject. Investing or paying off debt can be a concern at any age. But young workers, who…

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