Call Us: 480-970-5663

small business

$5.8 Billion in 401k early withdrawal penalties. Should companies provide a more liquid savings option?

Posted by | pension, retirement income, small business, tax strategies | No Comments

The IRS collected more than $5 billion in 2011 from penalties incurred by taxpayers who withdrew money from tax-deferred retirement accounts before the age of 59 1/2. The people who pay the penalty include younger workers who switch jobs and don’t bother to roll over their accounts and older workers who believe they have no place else to turn. The cash out factor occurs among all age groups: Read More

Building income streams Part 3 of 3 – The myth of Be Aggressive

Posted by | annuities, economy, indexed life insurance, retirement income, small business | No Comments

In this final segment we discuss how to take chunks of money you have saved and create income for life. The younger you start this process the better. The great fiction you hear from financial media is that when you are young you need to be aggressive.  This is not based on any fundamentals and not is it true. There is no one-size-fits-all advice. Read More

The 401k Tax Deception Part I

Posted by | indexed life insurance, life insurance, pension, retirement income, small business, tax strategies | No Comments

People have been told they can save money in taxes by maxing out a 401k or Defined Benefit Plan. These plans are not tax savings plans. You still have to pay the taxes in the future when you take out money. High income earners could end up paying more in taxes by waiting. Watch this video to learn how these plans really work.

Financial Stress for Employees Impacts the Workplace

Posted by | small business | No Comments

Business-Stress-Man-With-Text-Anxiety-480x33040% of Employees report they have financial stress. How does this affect business profits?

Many employers may be surprised to hear that one of the biggest issues employees have is not job security, deadlines or a co-worker but their own personal financial stress. The problem affects 4 in 10 workers and commonly distracts them every week from their job at hand.

From a recent study, employees admitted they are commonly spending a few hours a week on average during work time either dealing with or worrying about financial troubles. This not only affects the efficiency of a business day to day when workers are distracted, but also the ongoing productivity as workers miss more time due to illness that is stress related. Read More

Your tax bill: $321,050

Posted by | retirement income, small business, tax strategies | No Comments

money_in_toilet_800_clr_4526-1Your tax bill: $321,050

If you are a successful professional or business owner and your goal is to retire with $100,000 per year in retirement income, this is roughly what you can expect to pay in taxes over the course of your retirement.  (Let’s assume you retire at 65 and you or your spouse lives to age 90.)

How can this be your tax bill? Aren’t taxes supposed to be lower when you retire? Read More

Money and stress at the workplace

Posted by | human resources, small business | No Comments

Financial stress at the workplace can cause a lot of problems. Reduce productivity, higher health care cost and increase absenteeism. It’s important for business owners and human directors to understand the impact on their bottom line. I recently sat down with Scott Drake on Retirement News Network to discuss this issue.

Building An Employee Financial Wellness Plan , With Financial Planner Denver Nowicz of Scottsdale, Arizona

The tax deferral problem

Posted by | life insurance, retirement income, small business, tax strategies | No Comments

radio signalTopics and short clips from our radio shows:

  1. Doesn’t a 401k or Defined Benefit Plan save me money? (It depends. It could cost you more.)
  2. Won’t I be in a lower tax bracket at retirement? (The media says yes, reality….not so much.)
  3. If I pay taxes now, don’t I have less to invest? (Turns out it’s probably the same. How is this possible?)
  4. Total Time: 7min 59sec

Read More