We’re still early enough in the year that financial resolutions may still be fresh in your mind. One common resolution for those ramping up toward retirement is to max out their 401(k). If you have the financial flexibility, you may be able to front-load your 401(k) contributions. That is, rather than spacing out your annual contributions throughout the year, you can instead max out your 401(k) contributions within the first few months of the year.

We commonly receive the question, “When can I withdraw money from my 401(k)?” While the answer is technically “whenever you want to,” there are penalties you’ll need to look out for if you want to withdraw from your 401(k) before retirement.

As you get closer to your chosen retirement date, it’s not uncommon to feel a sense of unease. Sure, you’ve been saving and planning, but how can you be certain that you’ve done enough?

There’s no one-size-fits-all approach to retirement planning because there’s no one-size-fits-all financial plan. No matter how close or far away retirement seems to you, there are decade-by-decade guidelines you can follow to make sure you’re working in the right direction. 20s — Lay the groundwork, and don’t hamstring yourself We know, you don’t want to hear it. Your 20s are about getting an education, settling into your career, and, yes, enjoying your young adulthood.

In the field of financial management, charitable giving is pivotal when it comes to the transfer of assets. It shows a commitment to social responsibility and is a strategic wealth management approach.  Understanding the nuances of incorporating charitable giving into your wealth transfer strategy is important. This may include understanding charitable gift annuities, navigating the rules of charitable contributions, and making informed decisions about your donations. 

Imagine you’ve just arrived at your doctor’s office. One of the first things you’ll do is answer questions about the prescription drugs and vitamins you take. Why? Your doctor needs to know what medications you’re taking to prevent any unintended consequences from drug interactions. To make the best possible recommendations, your doctor needs all the information.

In the journey of life, preparing for retirement can seem like a distant priority, especially if you’re a millennial focused on more immediate financial concerns like buying a home, repaying student loans, or saving for your children’s education.

Tax planning is an important element of financial management. The goal is to minimize your tax liability while enhancing the overall efficiency of your financial strategy. It involves a detailed analysis of your financial situation to leverage tax laws and provisions. This process ensures that individuals and businesses can make informed decisions that lead to increased savings and optimal economic outcomes.

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Everyone is different, so it stands to reason that everyone’s financial goals are different, too. But whether you want to retire early, pay for college for your children (or grandchildren), or buy a vacation home, you need a plan to get there. And while there’s no such thing as a one-size-fits-all financial plan, there are steps that everyone can take as they try to create a plan that’s suited to their individual needs.