Category: Retirement Planning
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Should I Take a 401k Loan? When a 401k Loan Might (and Might Not) Make Sense.
When it comes to debt, a 401k loan is a gray area in personal finance. These loans are not perceived as bad as credit card debt, but they also do not fit in the “good debt” category, as a low-interest rate mortgage would. So, how bad are 401k loans really? Are they a tool worth…
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Can We Protect Assets from A Nursing Home? A Primer on Long-Term Care.
Helping an elderly parent or grandparent through their final years can be a difficult season. The personal and emotional toll alone is enough for one person, then add the financial complexities on top. One of the major questions that comes up when elderly people consider moving into an assisted living or nursing home is whether…
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When Should I Hire a Financial Advisor? 5 Signs a Business Owner Has Outgrown DIY Financial Planning.
Historically, owners have always been a smart and self-sufficient group. Wearing all the different hats that are required to run a business is something that no one wants, but every owner eventually works through. As businesses and finances evolve, there will likely come a point where more help is required. Hiring employees, bringing on consultants,…
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Making Good Money but Still Stressed? Start 2026 With a Simple 6-Part Plan to Reduce Financial Stress for Business Owners.
As income increases, so do financial complexities, both in personal and business finance. As new problems emerge, owners can feel they are on the back foot trying to handle their finances. Each time one area is solidified, another side poses new problems. While no financial plan can completely cover future problems, covering the basics across…
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What is changing to retirement accounts this year? Your 2026 Contribution Cheat Sheet.
Key Takeaways Defined Contribution Plans (401ks, 403b, 457, TSP, etc.) In 2025, those contributing to a company retirement account, like a 401k had certain contribution limits to stay within. For 401ks, the employee maximum contribution was $23,500 but increased to $24,500 in 2026. Historically, there has been a catch-up contribution available to earners over 50…
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Can I Contribute to Multiple Retirement Plans? Start with These 5 Questions.
For many owners, contributing the maximum amount to a retirement plan is not as simple as looking up the IRS contribution limits. For some owners with multiple businesses and/or multiple retirement plans, it can become confusing to understand which accounts to fund before the end of the year (or after the year). While saving into…
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When Can You Start a New Retirement Plan? Year-End Deadlines for Retirement Plans.
When trying to set up a new retirement plan, especially for 2025, the two primary questions to answer are when you can establish the plan and the latest date that you must fund the account by. Answering both questions can help you determine if you need a new account opened and funded by as early…
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How Can I Max Out My Retirement Account? How to Hit Your 2025 Deduction Goals with Retirement Plans.
Contributing to a retirement account has arguably been one of the best deductions available from year to year. As the end of the year approaches, it could be a great time to determine whether you should contribute the maximum amount to some or all of your “deductible” accounts. If the goal is to increase your…
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Should I Convert My IRA to a Roth IRA this Year? How to Think Through Year-End Roth Conversions.
As the end of the year approaches, most people start to get a clear sense of how much income they will have for the year. If this year looks like a relatively low year for income, it may be worth exploring intentionally increasing your “total income”. While the reasons may differ from year to year,…
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What if My Business is My Retirement Plan? Why Exit Planning for Business Owners is Critical.
Many business owners never truly plan on retiring. Worse, many just assume their entrepreneurial journey will carry them through life indefinitely. Naturally, this leads to uncertainty and confusion when the day finally comes. While many entrepreneurs may eventually figure it out, understanding why you should prepare for life after business is critical. Doing so now…
TC Falkner 