October 19, 2021

How Much Should I Save for Retirement?

Aim to save at least a total of 15% of your pretax income each year from an early age of 25 until age 67 as a rule of thumb. Of course, save more if possible. Together with other steps, it should help ensure that you have enough income to maintain your current lifestyle in retirement. While 15% may seem like a lot, if you have a 401(k) or other workplace retirement account with an employer match or profit sharing, that employer match or profit- sharing counts toward your annual savings rate.


July 2021

Naming A Beneficiary For Your Retirement Account

Federal law requires you to designate your spouse as the beneficiary for your 401(k) unless your spouse has signed a written waiver. Unlike a 401(k) plan, you aren’t required to name your spouse as the beneficiary of your IRA (unless you live in a community property state, see IRS Publication 555 here for a list of those states).


April 2021

Retirement Planning Tips To Retire Once

It is important to review basics areas of retirement planning to prepare to retire on time and once. Reviewing financial planning subjects such as health insurance, budgeting, retirement savings, estate planning are just a few areas to review with your Financial Advisor.


January 2021

Should You Invest Your 401(k) Contribution In Your Traditional 401(k) or Roth 401(k)?

The biggest difference between a Roth 401(k) and a traditional 401(k) is how and when you get a tax break. Thus, most advice on the Roth 401(k) vs. traditional 401(k) topic depends on the following question: Does the benefit of a tax-deductible contribution now, outweigh the benefit of tax-free withdrawals in retirement, after your account has grown?


October 2020

Saving Just A Little More Can Make A Big Difference in Retirement

Often it's the little things in life that can make the biggest difference. That's true when it comes to saving for retirement. Putting just 1% more into a tax- advantaged retirement account like a 401(k), or an IRA could make a noticeable difference in your lifestyle in retirement.


July 20, 2020

How to Maintain Your Current Lifestyle In Retirement

Once you know where you are going, it becomes a lot easier to plan to get there, and to measure your progress along the way. When it comes to saving for retirement, set a course for maintaining your current lifestyle in retirement—and plan for your savings to provide 45% of your pre-retirement income.


May 11, 2020

Retirement Account Rules Relaxed

Some retirement account rules have been relaxed as a result of both the Setting Every Community Up for Retirement Enhancement (SECURE) Act, signed into law in December 2019 and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Washington’s massive stimulus effort to provide relief for families, individuals, small businesses, and major sectors of our economy impacted by the coronavirus outbreak.