IRA - North Light Financial Services

What You Need to Know About the Fiduciary Rule

What You Need to Know About the Fiduciary Rule A quick look at the changes coming for retirement accounts. Rules are changing concerning investment professionals and retirement accounts. In the eyes of many, the change is good. The “fiduciary rule” is going into effect in June. This Department of Labor rule stipulates that any financial industry professional who makes investment recommendations to participants in qualified retirement plans in exchange for compensation will be considered a fiduciary. What does all that [...]

By info@northlightfinancialservices.com|2017-07-13T12:01:16-04:00July 6th, 2017|Business/Economic News, IRA, IRA Rollover|Comments Off

The Many Benefits of a Roth IRA

The Many Benefits of a Roth IRA Why do so many people choose it rather than a traditional IRA? The Roth IRA changed the whole retirement savings perspective. Since its introduction, it has become a fixture in many retirement planning strategies. The key argument for going Roth can be summed up in a sentence: Paying taxes on retirement contributions today is better than paying taxes on retirement savings tomorrow. Here is a closer look at the trade-off you make [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:14-04:00September 22nd, 2016|IRA, Retirement, Savings and Investing|Comments Off

White House Proposes Changes to Retirement Plans

White House Proposes Changes to Retirement Plans A look at some of the ideas contained in the 2017 federal budget. Will workplace retirement plans be altered in the near future? The White House will propose some changes to these plans in the 2017 federal budget, with the goal of making such programs more accessible. Here are some of the envisioned changes. Pooled employer-sponsored retirement programs. This concept could save small businesses money. Current laws permit multi-employer retirement plans, but the [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:17-04:00January 28th, 2016|Business/Economic News, IRA, IRA Rollover, Retirement|Comments Off

Your Annual Financial To-Do List

Your Annual Financial To-Do List Things you can do before & for 2015. What financial, business or life priorities do you need to address for 2015? Now is a good time to think about the investing, saving or budgeting methods you could employ toward specific objectives. Some year-end financial moves may prove crucial to the pursuit of those goals as well. What can you do to lower your 2015 taxes? Before the year fades away, you have plenty of options. [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:20-04:00December 23rd, 2014|401(k)/403(b), Financial Fitness, Income Taxes, Investing, IRA, Saving & Budgeting|Comments Off

IRS Raises Retirement Plan Contribution Limits – 2015

IRS Raises Retirement Plan Contribution Limits Roth & traditional IRAs won’t get 2015 COLAs, but other plans will. A little inflation means a little adjustment. As the Consumer Price Index is up 1.7% over the last 12 months, the federal government is giving Social Security benefits a 1.7% boost for 2015 and lifting annual contribution limits on key pension plans as well.1 401(k), 403(b), 457 & TSP annual contribution limits increase by $500. You will be able to defer up [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:21-04:00December 4th, 2014|401(k)/403(b), Business/Economic News, Financial Fitness, IRA, Retirement|Comments Off