An exchange traded fund (ETF) is a type of fund that pools together individual stocks, bonds, and other securities. ETFs allow investors to diversify their investments much more cost-effectively than trading individual stocks and bonds. Investors can also trade ETFs anytime during the day, so they’re ideal for investors who want short-term gains. What an…
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Top 20 Financial Mistakes People Make in Their 30s
Most people in their 30s start to establish a career, build a family, and plan for the long-term future. Unfortunately, this is also the period when many fall victim to various money mistakes that can negatively impact one’s finances. We spoke with the experts who shared the different financial mistakes people make in their 30s….
Top 27 Money Management Tips from the Pros
Learning important money management skills will help you attain a financially stable future and prevent certain financial distress. Saving for retirement, minimizing debts, and creating a realistic budget are a few of the essential skills you need to master. We spoke with the experts who shared their best money management tips for you to get…
Mutual Funds: What They Are & How to Invest
A mutual fund is a professionally managed investment fund that holds a diversified basket of stocks and bonds. Using mutual funds, investors get more diversification, which lowers investors’ risks of losing money. Mutual funds are also more cost-efficient than buying individual stocks and bonds, making them ideal for investors who don’t have millions to invest….
Irrevocable Life Insurance Trust (ILIT) & Succession Planning
An irrevocable life insurance trust (ILIT) is a trust that serves as the owner and beneficiary of a life insurance policy. A life insurance trust helps wealthy individuals to protect assets and avoid estate taxes, and is a succession planning tool for small business owners who want to transfer a business to heirs or partners….
Top 26 Financial Mistakes People Make in Their 40s From the Pros
As you inch closer to retirement, it’s important to be financially prepared for the costly expenses that come with age. Be careful not to make serious financial mistakes because you won’t have as much time to correct them. We spoke with the experts who shared the common money mistakes to avoid when you’re in your…
Retirement Calculator
How to Read Your Retirement Calculator Results You can use this retirement savings calculator to glean a number of key insights including: When you’ll run out of money: People typically retire between the ages 65 and 70; using the retirement calculator above you can predict when you can comfortably retire by adjusting contribution amounts, contribution…
Individual & Solo 401k Rules, Contribution Limits & Deadlines
A Solo 401(k) is a qualified retirement plan allowing business owners and their spouses to shelter up to $56,000-$61,000 of income from taxes each year. Solo 401(k)s are like any other 401(k) except they are lower cost and are an option for business owners with no full-time employees. Spark 401k is an experienced 401(k) provider…
Roth IRA: Rules, Contribution Limits & Deadlines
A Roth individual retirement account (IRA) is an individual retirement account that allows investors to contribute up to $6,000 per year for retirement. Unlike traditional IRAs, Roth IRAs allow post-tax contributions that then grow tax-free and are withdrawn tax-free during retirement. Roth IRAs are ideal for tax-conscious investors who want to lessen their income tax…
6 Best Small Business Retirement Plans 2018
Retirement plans help business owners save for retirement and attract the most talented employees. There are 6 main types of small business retirement plans that allow pre-tax contributions each year by employers and/or employees. Each type differs widely, ranging from $6,000 – $56,000+ in annual contributions, with some requiring employer contributions or match. When you’re…
Safe Harbor 401(k) Plan: What it is, Contributions, & Matching Rules
A Safe Harbor 401(k) is a retirement plan allowing employers and high-earners to shelter income that would be considered “discriminatory” against employees in a standard retirement plan. Employers and high-earning employees can shelter $56,000-$62,000 per year from income tax without falling out of compliance by providing matching contributions to employees. Spark 401k can help small…
Self-Directed IRA: Rules, Services, & Checkbook Control
A self-directed IRA is a tax-deferred retirement account that allows you to directly manage your investments and buy alternative assets that aren’t available in traditional IRAs. An account with a self-directed IRA service costs more to set up and maintain but allows you to invest in things like real estate, private companies, and precious metals….
