The Frugal Fiduciary Blog

Roth 401k Deferrals — Answers to Common Questions

Posted by Eric Droblyen on Jan 25, 2017

In a 2016 401k plan design study of 2,767 small businesses, we found 66% permit participants to make after-tax Roth deferrals to their personal account. I think it’s safe to assume the high adoption rate of this 401k plan feature is due to participant demand.

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Topics: Roth 401k, Retirement Planning, Plan Design

3 Tax Advantages of 401k Plans

Posted by Holly Roussel-Godfrey on Apr 12, 2016

401k plans offer important tax advantages for small businesses and their employees. If you are a business owner, you should understand these benefits when deciding whether or not to offer a 401k plan to your employees. Too many businesses focus on “what is this going to cost me,” rather than, “what are the benefits?”

While we strongly recommend always speaking with your accountant on the topic of taxes, here is a high-level summary of the tax benefits possible by offering a 401k plan.

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Topics: Retirement Plan Types, Retirement Planning

401k Participants Should Leave Investing to the Pros; Focus on Saving

Posted by Eric Droblyen on Jun 3, 2015

Saving for retirement is one of the most important things we must do during our working years.  After all, nobody can work forever and living expenses don’t stop after you stop earning a paycheck.  And yet too many of us aren’t saving enough for retirement.  Why is that?  For workers that can afford to save, I think the number one reason is the inability to cut through the complexities of saving and investing.  Today, workers must answer complicated questions to successfully participate in a 401k plan.  I believe these questions scare a lot of workers away from giving their savings enough thoughtful consideration.

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Topics: Investments, Retirement Planning, Financial Advice

Target Monthly Income and not an Account Balance When Saving for Retirement

Posted by Eric Droblyen on Feb 25, 2015

Most people consider $100,000 a lot of money – I do anyway. But is it a lot of money when you’re saving for retirement? The short answer is it depends upon how old you are. A 30 year-old with a $100,000 nest egg is likely on track for a comfortable retirement at age 65 if they’re saving 10%-15% of their income each year, while a 50 year-old with the same nest egg is likely behind in their savings and will need to save much more each year to catch-up in order to retire at 65.

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Topics: Retirement Planning

Let’s put “Income” back in ERISA

Posted by Greg Carpenter on Nov 13, 2014

ERISA
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Topics: Retirement Planning, Thought Leadership

In small business retirement plans, the employees with the smallest balances need the most help. Here’s my frugal guide to making the plan work for everyone in your organization.

Posted by Greg Carpenter on Jul 24, 2014

Small Business Retirement Plans
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Topics: Investments, Retirement Planning, Plan Design

Retirement readiness begins by getting organized. Here are some great free tools.

Posted by Greg Carpenter on Jan 16, 2014

Get Organized for Retirement Readiness
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Topics: Retirement Planning

Retirement readiness? Even with a great 401k most will have to work hard to retire well.

Posted by Greg Carpenter on Dec 18, 2013

Retirement Readiness, Keep Working Hard
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Topics: Retirement Planning

Press spins industry “research” puff piece into a retirement crisis denial story. Allow me to retort.

Posted by Greg Carpenter on Dec 11, 2013

Small Business 401k Plans and Retirement denial?
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Topics: Retirement Planning

Interstate 401k -- A Road Map to Comprehensive Employee Benefits

Posted by Greg Carpenter on Feb 15, 2013

Friends, today I’m posting from Disney World of all places. You might wonder why in a sea of Mickey ears I’m thinking about comprehensive employee benefits, but I’m finding some interesting parallels between visitors to the Magic Kingdom and small business owners trying to do right by their employees.

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Topics: Retirement Planning

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