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For Individuals

How Does a 401K Loan Work and What are the Pros and Cons of a 401k Loan?

For Individuals by Connor Erwin

How Does a 401K Loan Work and What are the Pros and Cons of a 401k Loan?

Most employers provide access to the 401K plan with a loan option. Please be advised, accessing your 401k for loans is typically not advised; unless necessary to avoid a financial hardship, particularly because it hurts the ability for you to continually save for your retirement, which is the main reason your 401K was created.
There are many appetizing features to a 401K Loan. A person can borrow up to 60 months or 5 years. The amount they can borrow is between $1000 to $50,000. The amounts may differ, depending on your employers 401K loan rules and regulations.

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Should You Earn More Money or Spend Less Money to get Out of Debt?

Financial Insights, For Individuals by Connor Erwin

Should You Earn More or Spend Less?

Debt can be so overwhelming… Whether it’s student loan debt or credit card debt, it all hurts your wallet the same way. If you want to pay it off, you have to decide between two things… or do you?

Is Spending Less Money the Best Option?

When you are in debt, you hear often that you need to spend less money if you ever want to get out of debt. The most frequent phrase used on this side of the argument is the “latte factor”. Basically, this phrase is saying that you should cut out a latte a day to get out of debt or invest in your future. It does not just mean lattes, however, it is talking about any unnecessary expenses. Maybe, you do not need cable anymore because you only watch Netflix and Hulu.

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Are We Comfortable with the Uncomfortable?

Financial Insights, For Individuals by Connor Erwin

Are we now comfortable with the uncomfortable?

Notching its eighth consecutive quarterly advance, the S&P 500 rose approximately 4.4% in the past three months. What’s more remarkable is the resiliency of the market in the face of events that would historically cause periods of panic, leading to increased volatility as equity markets sell off and investors flock to the safety of bonds. In years past, life altering events typically force the market into disarray; however, despite recent events such as the standoff with North Korea, the multitude of natural disasters, the Charlottesville unrest, Catalan turmoil in Spain and the Las Vegas shooting, the equity markets keep shrugging off every occurrence and continue chugging along. The lack of inflation, steady economic growth, accommodative monetary policy, strong labor market and very strong earnings growth have created a robust tailwind for equities, creating a sense of investor complacency with what would traditionally be viewed as an uncomfortable turn of events.

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Life Insurance: A Key Component of a Financial Planning

Financial Insights, For Individuals by Connor Erwin

Life Insurance: A Key Component of a Financial Plan

If asked what comes to mind when thinking of financial planning, many would likely mention topics such as saving for retirement, planning for college, creating strategies for retirement income, or structuring a portfolio with an eye toward maximizing tax efficiency. Indeed, planning for our later years, or saving to accomplish certain goals, tend to be the primary focus for many in financial planning. Equally important, we believe, is the importance of incorporating life insurance strategies into a financial plan that will address specific needs such as providing for loved ones, or ensuring a business’ continuity, if and when one is gone.

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Life Insurance: A Key Component of a Financial Planning

Financial Insights, For Individuals by Connor Erwin

Life Insurance: A Key Component of a Financial Plan

If asked what comes to mind when thinking of financial planning, many would likely mention topics such as saving for retirement, planning for college, creating strategies for retirement income, or structuring a portfolio with an eye toward maximizing tax efficiency. Indeed, planning for our later years, or saving to accomplish certain goals, tend to be the primary focus for many in financial planning. Equally important, we believe, is the importance of incorporating life insurance strategies into a financial plan that will address specific needs such as providing for loved ones, or ensuring a business’ continuity, if and when one is gone.

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