To invest in stocks with only a little money, consider participating in an employer’s retirement plan, as the investments are put towards the investor’s future. Consider a 401k or an IRA to accrue interest withinvesting advice from a certified financial planner in this free video on personal finance. Expert: Melissa Hammel Contact: www.hammelfinancial.com Bio: Melissa Hammel, a certified financial planner (CFP) and nationally certified counselor (NCC), serves as the managing memberer and principal financial planner at Hammel Financial Advisory Group, LLC. Filmmaker: Dimitri LaBarge Video Rating: 3 / 5
Deciding what kind of qualified retirement plan is the best for any client can be a daunting task. With all the regulations, funding limits and requirements for testing, it becomes apparent very quickly that to maximize client needs, plan design is paramount. Safe-harbor provisions aid in the establishment and understanding of regulations and provisions that govern all plan types. Cash-flow and the ability to fund contributions to a plan are important considerations as well. Auto-enrollment in a 401(k) plan is gaining popularity at a time when headlines talk about the impending problems with counting on social security as your sole means for retirement. Ensuring employers and individual participants know about withdrawal provisions that can be added to a plan will ease the potential hesitation towards establishing and funding a qualified retirement plan. The plan document dictates how the plan is operated and can contain hardship and in-service withdrawal as well as loan provisions for participants to utilize. Although governed by regulations, these provisions can mean the difference between an employer establishing and an employee electing to participate in savings for retirement. It’s all about being able to get at “my money: if I need to. Susan Hajek offers securities through Resource Horizons Group, LLC, Member FINRA/SIPC. 1350 Church Street Ext. NE, 3rd Floor, Marietta, GA 30060. Telephone 770-319-1970. Resource Horizons Group, LLC and Brokers Alliance, Inc. are not … Video Rating: 0 / 5
