Articles

• Mega Backdoor Roth with ERISA 401(k) Plans

  Most plans that are not owner-run, such as those offered by hospitals, universities, and other large employers don't allow the option for doing Mega Backdoor Roth conversions, but a smaller partner-run practice plan can easily adopt any changes necessary to implement the mega backdoor Roth 401(k) strategy. Read on

• Small Practice Retirement Plans: How Are They Different*?

  Despite the apparent similarities, small practice and large company plans cannot be more different from one another. Understanding how small practice plans are different from large plans is important for small practice owners because most plan providers specialize in working with large companies and they are not capable of addressing the full scope of issues that small practice plans will encounter. Read on

• Long Term Cost of Retirement Plan Asset-based Fees

  Many bundled 401(k) plans offered to small practices can have very high fees, which include mutual fund fees and other asset-based fees. Fees average about 1.5% but at the high end of the spectrum fees can be as high as 4%. These AUM (assets under management) fees always grow as your account grows. The compounded cost of these fees can reach into hundreds of thousands of dollars for a typical 401(k) account. Read on

• Hiring a Fiduciary Adviser for Your Retirement Plan

  While fiduciary liability is an important consideration, the primary reason to hire a fiduciary who will act in your best interest is to help you minimize your plan expenses and assist you in managing your plan investments. Read on

• How to Run a Successful Retirement Plan: A Guide for Medical and Dental Practices

  Whether you have an existing plan, looking to open a new plan or upgrade the plan you already have, there are four things you need to consider that can significantly improve the quality of your plan: having the right plan design, minimizing plan cost, managing your fiduciary liability as a plan sponsor and selecting the right plan services that can both minimize your fiduciary liability and help plan participants achieve better investment results. Read on

• Low Cost Retirement Plans for Small Business Owners

  So you are now ready to open a retirement plan for your business. Whether you are looking to minimize taxes or provide a valuable perk to your employees, there are many different choices available depending on what you are trying to accomplish. Which plan should you open? SEP IRA? SIMPLE IRA? Individual 401k? Safe Harbor 401k? Cash Balance or a Defined Benefit plan? This article provides general guidelines on how to select an appropriate plan for your business. Whether a particular plan is a good fit for your business should ultimately be determined by your CPA or your fee-only retirement plan consultant. Read on

• Retirement Plan Advice: Our Value Proposition

  We are an independent fee-only wealth management firm that offers retirement plan consulting services to small business owners. We will work with you to design the plan that's right for you. Read on

• What CPAs Must Know Before Recommending 401k Plans to Clients

  By using 401k plans, many small business owners can save money on taxes while providing themselves and their employees with a way to save for retirement. In the past decade 401k plans have earned a bad reputation which is totally undeserved. The problem is that high fees, poor investment choices and lack of basic financial education on how to manage their investments led to massive losses which turned many people away from 401k plans. A properly designed plan can be used as a long-term savings and investment vehicle for the business owner and employees. Read on

• Ten Reasons to Plan Your Finances

  Discipline is required to achieve results. Saving for retirement is like dieting - if you use the wrong strategy, you will always go back to square one. To accumulate wealth you need to invest in such a way as not to depend on the stock market to deliver your returns, and such a strategy has to be maintained for decades to produce results. Read on