Did you change jobs and not do anything with your old 401(k)? Let’s review potential solutions for how to find an old 401(k), including via a new database from the Department of Labor’s Employee Benefits Security Administration (EBSA).
An Employee Stock Ownership Plan (ESOP) is a unique type of qualified employee retirement plan that offers an employee ownership interest of their employer via shares of stock. According to the Aspen Institute, there are 10.1 million individuals that work at the 6,447 companies that have ESOP plans. In total, ESOPs have amassed $1.8 trillion, which comes out to an average of more than $180,000 per worker.
It’s crucial to have cash reserves to secure financial stability. However, how much you need will depend on your personal situation.
Episode 110 | Michelle Cannan | Modern Wealth Management Managing Director and Head of Company Retirement Plan Services
As Modern Wealth Management continues to grow, one of the additions we’re very excited about is our office in Rochester, New York. Our Rochester-based team members specialize in 401(k) plans, which are typically people’s largest asset as they head into retirement. So, we figured it would be good idea to have Michelle Cannan, CPFA™, QKA®, QKC, our head of company retirement plan services and managing director of our Rochester office, join Dean Barber on The Guided Retirement Show to discuss how a 401(k) plan works and many other nuances about 401(k)s.
Episode 109 | David Mitchell | AllianceBernstein Regional Director
As we attempt to help educate people about market sentiment, we’ve continued to welcome back AllianceBernstein’s David Mitchell as a guest on The Guided Retirement Show. David last appeared on The Guided Retirement Show with Dean Barber in October 2023 to give his market outlook and review market trends from the previous six months. Dean and David will review some of the things they discussed during that episode. David will also review the last six months of market performances again and give his updated market outlook to help people develop a better understanding of market sentiment.
When you reach age 73 you must begin to draw funds from your traditional (i.e., non-Roth) Individual Retirement Accounts (IRAs).
Not sure what to do with your 401(k) when you retire or are nearing retirement? Once you retire, a plan for withdrawing those funds that provides a constant source of income that isn’t eaten up by taxes and other costly traps must be constructed
Dean Barber, Ken Osiwala, and Bud Kasper give their main takeaways from Q3 2023 and their expectations for Q4 in our Quarterly Market Update.
Chris Rett discusses what to do with your 401(k) after retirement—leave it in your previous employer plan or roll it over to an IRA?
Back in April, Dean Barber and Bud Kasper did something new on the Modern Wealth Management Educational Series when they gave their Q1 2023 Quarterly Market Update. Now that Q2 2023 is behind us, it’s time for them to give their Q2 2023 quarterly market update.