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Health Savings Accounts – The Other Retirement Plan

The Chicago Financial Planner

Saving for retirement is a major undertaking for most of us. Health savings accounts (HSA) provide another vehicle to save for retirement. Many of you have the option to enroll in high-deductible insurance plans that allow the use of a health savings account via your employer. How the HSA works .

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Small Business Retirement Plans – SEP-IRA vs. Solo 401(k)

The Chicago Financial Planner

One of the best tax deductions for a small business owner is funding a retirement plan. Beyond any tax deduction you are saving for your own retirement. You deserve a comfortable retirement. If you don’t plan for your own retirement who will? For the Solo 401(k) you will generally use a prototype plan.

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Social Security Fairness Act: Planning Considerations For The Repeal Of The Windfall Elimination Provision (WEP) And Government Pension Offset (GPO)

Nerd's Eye View

For most people, Social Security benefits are calculated using a single formula, which takes into account the individual's history of earning income on which they paid Social Security tax. This lack of clarity made retirement planning significantly more challenging.

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Ask The Experts: Retirement Planning Opportunities Under the SECURE 2.0 Act

Wealth Management

Act regarding individual retirement accounts, including changing when the first required minimum distribution can be made from the account, new rules for inhe The panel of experts will discuss and answer questions about the changes made by SECURE 2.0

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Weekend Reading For Financial Planners (November 23–24)

Nerd's Eye View

Also in industry news this week: Why the announced acquisition of RIA custodian TradePMR by retail brokerage firm Robinhood could prove to be a boon for RIAs on TradePMR's platform, who could receive a wave of referrals from Robinhood's massive base of next-generation retail clients How Morningstar is cutting the "Medalist Ratings" of thousands of (..)

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The IRA Is 50 This Month!

NAIFA Advisor Today

Advisor Today Guest Column January of 2025 is the 50th anniversary to one of the most important pieces of legislation in the retirement planning arena ever put into law by Congress. What Im referring to is the enactment of ERISA, the Employee Retirement Income Security Act.

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Your Retirement Plan and Where You Live

Getting Your Financial Ducks In A Row

We’ve covered a lot of ground with regard to how various tax laws impact your retirement plans: pensions, IRAs, 403(b) and 401(k) plans. But we’ve primarily focused on the US income tax laws (the IRS) affect your plans – and there are many nuances that you need to take into account with regard to state tax laws.