Retirement Planning

What to Know Before Picking a Retirement Savings Account

Brent Schafer Wealth Planning Manager & Financial Advisor HFG Trust

When it comes to saving for retirement, there are various tax-advantaged accounts to choose from. Each type of account offers different tax treatments, which can affect how much you pay in taxes both now and in the future. Here’s a breakdown of the three main types of retirement accounts and their tax treatments: Traditional IRA […]

Three Reasons Why You Need to Participate in Your Company’s 401k Plan

Tyler Pearson, Wealth Planner at HFG Trust and a member of the 401k team

In 1970 more than 45% of all private sector employees in the United States were covered by some kind of pension plan. As of 2022, that number is around 4%. What does this dramatic difference mean for the present-day worker? Well, the truth is, the next generation of retirees will rely on their own savings […]

SECURE Act 2.0 and Required Minimum Distributions

Brent Schafer Wealth Planning Manager & Financial Advisor HFG Trust

On December 29, 2022, the SECURE Act 2.0 was signed into law. The act updates the rules surrounding retirement savings accounts and will have effects on almost every stage of saving for retirement. This new legislation builds upon the SECURE Act of 2019, that adjusted the rules on saving for retirement and withdrawing money from […]

Everything Millennials Should Know About Starting a 401(k)

Jacob Marcusen Client Services Manager HFG Trust

Saving for retirement is one of the most important things that a millennial can do for their future. Even though retirement is years away, saving should start as early as possible. Early retirement without the worry of money may be ideal, but the truth is it takes hard work and a lot of time. Having […]

Parallels Between Memory and Compounding Returns

Brent Schafer Wealth Planning Manager & Financial Advisor HFG Trust

Why does time seem to speed up as we age? There are a few different ideas on why this is the case, but one can simply use math to explain. As we age, we begin to experience more time and life events. Our memories slowly begin to fill up and the time experienced begins to […]

Rolling Over an Old 401(k) – Beyond the Transfer

Stephen Palm Financial Advisor HFG Trust

One great thing about employer retirement accounts is they are portable when you transition to a new employer or retire. But understanding the factors you need to be aware of and deciding what you should do with an old 401(k) is important. Below, we will identify your options for old accounts, address the reasons to […]