The Federal Reserve Finally Raised Interest Rates – So Now What?

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The Federal Reserve finally raised interest rates – why? So now what? Is that a good or bad thing for our viewers? What does that mean for peoples investments and 401k? What should people do now? Watch Szarka Financial’s CEO Les Szarka,…
new-year-strong

Starting off the New Year Strong: 4 Tips to Improve your Finances in 2016

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Starting off the New Year strong is essential for improving your finances in 2016. Here are 4 tips for how to get started. 1. Get on the same financial page as your partner.​ Coordinating spending and saving habits in a joint bank account…

Thinking About Borrowing from Your 401k?

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Some people have pulled money out of their 401k to fund pet surgeries, a child's college education, plastic surgery, or weddings. However, these people have to pay this money back in usually three to five years. It's like swimming in a pool…

How One Man Made a Million Dollar Inheritance Mistake

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Alex Menassa on Fox 8 News discussing a Million Dollar Inheritance Mistake With the decline of defined benefit plans, most people will be relying on their 401ks (along with Social Security) for retirement income. Thus most people will have…

Required Minimum Distribution: IRS's Reminder That You're 70½

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As the saying goes, all good things must come to an end at some point. Unfortunately that includes the tax deferral you have received after years of delaying income tax on contributions to your 401(k) and IRA qualified retirement accounts. Distributions…

Avoid Disaster in 401(k) Beneficiary Planning

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It is said that a smart person learns from their own mistakes, but that a truly wise person learns from the mistakes of others. A recent court case (Cajun Industries vs. Robert Kidder, USDC Louisiana, April 26, 2011), highlights the importance…

Importance of Keeping IRA/401(k)/403(b) Beneficiary Designation Forms Up-to-Date

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We’ve written before about the importance of keeping your IRA, 401(k) and 403(b) beneficiary designations up to date. We’ve emphasized that updating these forms is easy, it’s free, it keeps the assets out of probate and it controls who…