The Difference Between 401(k) and 403(b) Plans
It’s always a good idea to start saving for retirement as early as possible. Two common retirement options – 401(k) and 403(b) plans – are both employer-sponsored retirement savings plans that offer tax advantages. You usually get access to only one of these options through your employer. It’s important to know which one applies to […]
(Financially) Planning Your Ideal Retirement
Everyone has a different idea of what retirement could look like, from the age they decide to retire to the lifestyle changes they make after leaving a job. Finances also play a significant role in retirement planning as you transition from supporting yourself with full- or part-time wages to using savings to provide for expenses. […]
How to Protect Your Retirement
The future’s unpredictability makes many people feel uncertain about how to prepare for and protect their retirement. While working, you know how much money to expect each week, providing greater financial certainty. However, once you stop working, knowing where to put your savings and how much you will need can be difficult. At HSC Wealth […]
Ways to Build Wealth in Retirement
You’ve worked hard your whole life and prioritized saving in a retirement account. Now, you are retired, and it is time to relax and enjoy a stress-free lifestyle! In order to continue to live a comfortable and fun life after your career is over, it is important to have the funds to be able to […]
Types of Retirement Accounts: What You Need to Know
Saving for retirement can seem daunting, but knowing which types of retirement plans align best with your savings and retirement goals relieves stress and encourages peace of mind. If you are in the midst of retirement planning, you may be asking yourself —which retirement account is best for me? This guide will help you understand the […]
What the SECURE Act Could Mean for Your Retirement
Written by Brian Devers “Secure” is one of those words that is thought of as very favorable by the general public. Recently, the House of Representatives passed the SECURE Act (Setting Every Community Up for Retirement Enhancement). This act is currently in the hands of the Senate for revisions and approval. We won’t get into the shenanigans of politicians, but the name of the act itself […]
AREVA Pension Plan Transfer – What’s Best for You?
If you are a former employee of AREVA Inc., or a current employee of Framatome, you may have a decision to make concerning your existing pension accumulation – whether to take a lump sum payment, a monthly benefit payment, or a deferred benefit payment provided by an insurance company under the same plan provisions. Those […]
Boomers – How Will the Next Recession Be Different?
Written by Tami Acree This is Part Two of the article Millennial Maiden Voyage, which was directed primarily toward young professionals born in the late ‘80’s and ‘90’s. Millennials who entered the workforce and started investing since the Great Recession in 2008 have yet to personally experience a substantial market downturn. This past February (2018) […]
How to Avoid 5 Common Retirement Income Mistakes
Written by Brian Carlton Here is a quick guide of the five most common mistakes many investors make while planning for retirement. In order to make the most of your assets, make sure you don’t fall into any of these traps: 1. Keep your portfolio diversified. You will need the income. Don’t assume that you […]
Lump Sum vs Annuity Pension: Which Is Best?
Revised April 18, 2019 Every few weeks someone comes to us with questions about an annuity product or pension elections. We routinely evaluate the various plans and are often baffled by the amount of complexity embedded in the selection process. Every individual and family is unique, as are their financial needs and concerns. You may […]