I think it’s safe to say that most of us are happy to close the books on 2022 and move on to 2023. After three straight years of impressive stock and bond returns, prices reset across asset classes to reflect a new investing environment. Financial asset prices have historically increased …
Certain retirement plan and IRA limits are indexed for inflation each year, and 2023 saw record increases inmany figures. Some of the key numbers are listed below, with the corresponding limit for 2022. (The source forthe 2023 numbers is IRS Notice 2022-55.) Elective deferral limits 2022 2023 401(k) plans, 403(b) …
On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023 (the Act). This omnibus bill funds the federal government through the end of the current fiscal year. Several legislative initiatives were attached to the omnibus funding package, including the retirement reform measures commonly referred to as SECURE 2.0. …
Some employers offer 401(k) plan participants the opportunity to make Roth 401(k) contributions. If you have access to this option, Roth contributions could play an important role in helping enhance your retirement income. What is a Roth 401(k)? A Roth 401(k) is simply a traditional 401(k) plan that accepts Roth …
Few terms in personal finance are as important, or used as frequently, as “risk.” Nevertheless, few terms are as imprecisely defined. Generally, when financial advisors or the media talk about investment risk, their focus is on the historical price volatility of the asset or investment under discussion. Advisors label as …
Conventional wisdom says that what goes up, must come down. But even if you view market volatility as a normal occurrence, it can be tough to handle when it’s your money at stake. Though there’s no foolproof way to handle the ups and downs of the stock market, the following …
The rental car you’re driving while on vacation or a business trip is nice–you almost wish you could take it home with you. But what happens if you have an accident while you’re renting it? When you do go home, the last thing you want to take back with you …
What is it? Introduction Travel insurance refers to specialized coverage you can buy to insure yourself against various risks that travelers face. Travel insurance policies may protect you against one type of hazard (e.g., getting sick or having a trip canceled) or against a group of hazards. You can purchase …
The benefits of calculating compensation right the first time far outweigh the headache and costs of making corrections after your plan year has ended. That’s why it’s important that you understand the different types of compensation and how they are used to administer your plan. Compensation information is used for …
Social Security is a pay-as-you-go system, which means today’s workers are paying taxes for the benefits received by today’s retirees. However, demographic trends such as lower birth rates, higher retirement rates, and longer life spans are causing long-run fiscal challenges. There are simply not enough U.S. workers to support the …