On December 29, 2022 President Biden signed the SECURE 2.0 Act into law to encourage more workers to save for retirement. With over 90 retirement-related provisions, the legislation has a lot to it. With so many different topics covered, it can be difficult to determine which provisions are most applicable to you. This article will help summarize some of the most prevalent changes that may apply to your financial plan, and if not now, surely in the future.
Haley Tolitsky, will be speaking at the North Carolina Dental Society’s 2022 Women’s Summit at The Umstead Hotel and Spa on August 26, 2022. During her presentation, Tolitsky will examine how an once male-dominated field is now rapidly changing allowing more women to realize financial empowerment. She will also discuss finding the balance between work, family life, and personal time and finding the financial confidence to become more financially savvy than their male counterparts.
Cooke Capital, Inc. is pleased to announce that CERTIFIED FINANCIAL PLANNERS™, Charles Cooke and Haley Tolitsky, have earned their Certified Plan Fiduciary Advisor (CPFA®) designation from the National Association of Plan Advisors (NAPA). CPFA® demonstrates knowledge, expertise, and commitment to working with retirement plans.
If you're expecting a refund, making a plan for it can help you and help others.
Automation can be a great tool for improving your financial life. Most of us don’t enjoy organizing our finances and tracking expenses, but thanks to technology, with a little work up front, you can automate several key areas of your financial life. Automation ensures no payments or investment contributions are missed, frees up a significant amount of time and allows you to achieve your financial goals by being consistent.
Demands of practice management, taking care of family and making time for self-care can be hard to manage. Women tend to want to “do it all,” but hiring other professionals, both in and out of your practice, makes your life easier and allows you to focus on your profession and personal life. Taking the time to financially prepare and establish those relationships now will only ensure a stronger, less stressful financial future.
There is ambiguity in future legislation surrounding retirement savings, taxes, student loans, and COVID-19 support. The Biden proposals could alter the retirement plan landscape, which some anticipate to be a potential heavier regulatory hand in order to promote better workplaces and employment opportunities for all. There is anticipation within the first 100 days of the Biden administration to mandate employers to provide auto-enrollment plans so that almost all workers will have access to an 'automatic 401(k),' and we may see additional incentives for adopting these plans. For small- and mid- sized businesses there is an attractive option that is new this year to consider with several key benefits: a PEP.
Most likely your financial situation and goals have shifted slightly over the past year. Reviewing and updating (or creating) your financial plan may seem cumbersome, but it's crucial for establishing a successful financial future. Financial Planner Haley Tolitsky outlines steps to take to tidy up your finances and prioritize for the upcoming year on 'The Street', a financial news and financial literacy website.
Young professionals face a variety of financial challenges, such as paying off debt, saving for the future, navigating workplace benefits, and starting a family. It can seem overwhelming to understand what you should be doing now for a successful future. Given recent uncertainty surrounding COVID-19 and market volatility, now is a great time to review your finances and make an actionable plan.
An improved type of retirement plan solution has been announced. The Pooled Employer Plan (PEP) is a single plan that bundles together unrelated employers from unrelated industries. As a member of a PEP, the employer does not take on additional risk associated with other employers in the plan. By facilitating access to high-quality retirement plans at a reasonable cost, PEPs are expected to give small businesses an additional incentive to provide retirement benefits to their employees.
How the SECURE Act of 2019 can augment retirement planning for small businesses and help mend the gap of the retirement crisis.
News headlines have been spreading fear that Americans are not doing enough today to reach their retirement goals. Dentists and their employees should be aware of this crisis in order to face the issues surrounding it, as well as to determine a resolution to avoid it.
