The Evolution of the 401(k): From Tax Deferral Tool to Primary Retirement Vehicle When Congress passed legislation in 1978 establishing the 401(k), the original intent was straightforward: defer taxes on certain income. However, this tool has evolved into something much
The Problem with One-Size-Fits-All Retirement Advice When major financial institutions issue blanket recommendations about retirement savings strategies, we need to pause and ask some critical questions. Recently, Vanguard suggested that retirees should split their contributions between traditional 401(k) accounts and
Imagine two brothers. Both have a million dollars. Both retire with identical portfolios. Both spend the same amount every year. Both live the same number of years. One brother ends up with over two million dollars. The other runs out
When we meet with prospective clients at our office, we often hear a familiar refrain: “I’m not paying any fees in my 401(k).” Just recently, a client from Johns Creek came to us with this exact concern. He’d been listening
The Danger of Retirement’s “Magic Number” We see them everywhere—headlines declaring exactly how much money you need to retire. Northwestern Mutual’s latest survey suggests adults think they need about $1.4 million to retire comfortably. While we appreciate the attempt to
The headlines are everywhere. Economist Richard Bookstaber recently wrote in a New York Times op-ed that the next financial crisis could be more severe than 2008. His argument? It’s not one big problem—it’s multiple risks colliding at the same time.
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