The financial crisis of 2008 has had wide ranging and long term implications for many Americans especially architects who have faced severe hardship—with the closing or downsizing of many firms—leaving architects and their staff jobless for months or even years, according to a 2012 issue of Architectural Record. More recently, there have been improvements in […]
“The way to get started is to stop talking and start doing.” – Walt Disney The time for planning for your future is now. But in today’s fast paced, hectic world many people put off important decisions until another day. The excuses—”I don’t have time to plan,” “I can’t afford to invest,” and “I really […]
Group Variable Annuity Contract sounds like a complex term, but the reality is much simpler and certainly not something to avoid when a business is considering a 401(k) plan provider. There are a number of misconceptions attached to this term and annuities in general. One misconception is that merely because a plan is held in […]
We have all heard how valuable it is to start planning for retirement early. When it comes to providing employee benefits, architectural firms sometimes view a retirement plan as a second-tier benefit to be added as the firm grows. Some may also have the misconception that they don’t have enough employees to start a plan or […]
Offering a 401(k) retirement plan for employees is a great benefit; however, getting employees to appreciate and take advantage of this benefit is often a challenge. A retirement plan with engaged, informed, and participating employees is a successful retirement plan. So, how does that happen?
Everyone has their own dream version of retirement. Unfortunately, figuring out how to achieve that dream is often a tough dose of reality. Each year the Employee Benefit Research Institute conducts a Retirement Confidence Survey; 2012 survey results indicated job uncertainty and debt weigh heavily on Americans’ confidence in achieving a comfortable retirement.
According to the Employee Benefit Research Institute, the number of participants making contributions to defined contribution plans has declined from 65% in 2009 to 60% in 2010, to 59% in 2011, and 58% in 2012 as cited in the 2012 Retirement Confidence Survey. This is no surprise to many small business owners like architects, some […]
It is never too late or too early to begin planning for retirement. As an architect, you have retirement planning concerns that are unique. Many of you are small business owners, and because of your profession, the time frame for retirement may be flexible and may likely include a gradual transition.
When you’re looking for ways to make the most of your retirement savings, don’t overlook the advantages of rolling over eligible retirement plan accounts from previous employers into your current retirement plan account.
If you have a 401(k) plan, you might be tempted to borrow money from it. Keep in mind that the purpose of a 401(k) is to save for retirement. Take money out now, and you’ll risk running out of money during retirement. Still, if you’re facing a financial emergency, borrowing money from your 401(k) may […]