Participants may be attracted to self-directed brokerage accounts (SDBAs) because of the seemingly infinite choice of investment options. While it’s tempting to please these often-vocal employees, much consideration should be given when contemplating an SDBA option for your qualified retirement plan. There are several fiduciary issues your committee should discuss, decide, and document. Outside Advisors The impetus for the interest may be that participants want to take advantage of advice from an outside advisor with the intention of giving them access to the account to make trades. If so, the ..read more

Just as spring cleaning can revitalize your physical space, financial decluttering can simplify your financial life. This process helps organize your finances, reduces stress, and fosters a sense of control over your financial future. Here are five key strategies to get you started: 1 – Go Digital Ditch the paper trail! Shred outdated bank statements, pay stubs, and receipts once you’ve verified the existence of secure digital copies. Most financial institutions offer online statements, rendering physical copies unnecessary. The IRS will generally ask for the last three years of returns in the ..read more

In today’s fast-paced world, achieving financial stability and security has never been more crucial, yet it often takes a back seat. Whether you’re nearing retirement or a few years away, watch this recorded webinar with Business Development Officer, Steve Graziano, and Director of Financial Planning, Anne Mank, as they guide you through strategies to enhance your financial fitness. The post Are You Financially Fit [On-Demand Webinar] first appeared on Savant Wealth Management ..read more

Leaving 401(k) or 403(b) balances behind can result in orphaned accounts that sit unmonitored and unmanaged by participants for years instead of remaining an active part of their retirement planning. But this type of neglect can also hurt organizations that must continue servicing such accounts and pay for those services. A fiduciary’s obligations can increase significantly should a participant eventually “go missing.” While there are reasons an organization may prefer retaining past employees’ funds, such as access to lower fees for larger plans, it’s nonetheless important to advise participa ..read more

Are you approaching retirement age and looking to navigate this exciting phase of your life with confidence? Or perhaps you’re planning way ahead, eager to take control of your financial future. The post Gearing Up for a Successful Retirement [On-Demand Webinar] first appeared on Savant Wealth Management ..read more

Once the weather warms up, we throw open the windows and remember we should wash them. And the curtains, probably the floors, and the deck. After the house is in order from a good spring cleaning, reviewing your financial “house” is also a perfect project for your list. Thinking about your total financial picture can sometimes feel overwhelming and maybe even deter you from starting the review process. It may help to break this down into more manageable pieces. First, let’s start with: What do you have? What might you owe? When we’ve answered those questions, you’ll not only have a financial r ..read more

After years of focusing on saving as much as possible, in retirement you’ll need to switch gears and figure out a way to replace your paycheck with your savings. Cracking into your nest egg in a tax- and risk-efficient manner while reinvesting enough to support the rest of your life can be a complex and challenging topic. The post Replacing Your Paycheck in Retirement [On-Demand Webinar] first appeared on Savant Wealth Management ..read more

Key Points: Time provides perspective for long-term investors. History tells us new highs are normal, and stocks tend to move higher over the long term. Market returns during years when markets are making new highs tend to be strong. Long-term investors have an advantage, and historically, markets are more likely to be higher following investments at market highs than lower. New market highs are not exclusive to high-flying A.I. stocks. Many areas of the market are simultaneously achieving new highs in 2024. While many parts of the stock market are making new highs, there are areas off their ..read more

At the beginning of this year, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) launched a new requirement for businesses to file beneficial ownership information reports. This initiative stems from the bipartisan Corporate Transparency Act of 2021, designed to combat illicit financial activities by requiring many companies operating in the U.S. to disclose information about their ultimate owners or controllers. Business owners who don’t comply with the reporting requirement can face hefty fines and possible jail time, so it makes sense to get the counsel you ..read more

Forget the picket fence, spouse, kids, and a dog stereotype. These days, Millennials and Gen Xers are redefining homeownership. What was once an uncommon idea – buying a house with a friend – is gaining traction. For many, rising home prices, stagnant wages, and delayed life milestones make co-ownership increasingly attractive. A 2024 Opendoor report found that 25% of first-time homebuyers didn’t buy alone or with a partner. Instead, they purchased with a friend (11%), sibling (7%), colleague (3%), or even someone they met online (3%). If you or someone you know is considering such a significa ..read more