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Cash balance plans help older entrepreneurs boost their retirement savings
Cash balance plans are not well known among the advisor community — but they should be. These excellent vehicles help business-owner clients catch up on retirement savings, realize tax benefits and strengthen the client-advisor relationship in the process. Ross K. Brown is vice president of business development at Payden & Rygel, a global asset management firm. Take the hypothetical case of Theresa who, at 53, leads a successful OB-GYN practice but has barely saved enough for what she feels will be a comfortable and secure retirement. With roughly $100,000 in retirement savings, she is starting to wonder if she’ll have to work forever. A cash balance plan can accelerate the…
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Financial literacy school classes get boost, could soon be taught at younger age levels, and why that’s important
By ADAM WORCESTER, contributing writerReleased February 15, 2023 Fiscal literacy college courses get strengthen, could before long be taught at youthful age ranges SNOHOMISH — Jakob Diepenbrock knows the relevance of monetary literacy.As a senior last year at Glacier Peak Higher School, Diepenbrock begun the Youthful Investor’s Club because of to frustration at how minor most of his peers understood about cash.“The huge bulk of individuals coming out of large school never know how credit cards work,” explained the latest Northeastern College freshman. “They have no investments. They never know how to buy stocks.”Diepenbrock was mostly self-educated. A new state grant method, on the…
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12 Free Sites, Apps, and Courses to Boost Financial Literacy in 2023
Financial literacy is an essential skill that enables individuals to make informed decisions about their money, manage their finances, and plan for the future. Whether you’re a beginner or looking to take your financial knowledge to the next level, the internet offers plenty of free resources to help you boost your financial literacy in 2023. With that in mind, here are 12 free sites, apps, and courses to help you improve your financial knowledge and make better decisions about your money. 1. Credit Karma Credit Karma is one of the most comprehensive financial literacy resources available today. With a focus on credit scores and financial management, this free site and…
