Could your children or grandchildren’s 529 plan be the key to their future retirement success?
In this insightful episode of Life Unlimited, host Larry Heller, CFP®, CDFA®, explores the new provisions of the Secure 2.0 Act that allow 529 plan rollovers to Roth IRAs. Larry outlines the conditions and strategic benefits of this new rule, offering listeners practical advice on optimizing retirement strategies.
Key Points Covered:
Understanding the traditional benefits of 529 plans for tax-free educational savings
Exploring the new rules for 529 plan rollovers to Roth IRAs:
Strategic benefits of overfunding 529 plans to maximize retirement savings for beneficiaries
Illustrating potential growth of rolled-over funds with examples showing substantial retirement savings growth
How can business owners keep their financial strategies effective for long-term success?
In this informative episode of Life Unlimited, host Larry Heller, CFP®, CDFA®, reveals the intricacies of corporate benefits and cash management tailored for business owners. Learn how regularly updating 401k plans, optimizing cash reserves, and leveraging professional networks can alter your business. Obtain actionable insights on attracting and retaining employees, maximizing tax advantages, and implementing successful financial planning strategies.
Key Points Covered:
Enhancing employee retention and tax benefits by updating 401k plans
Ensuring a robust, tax-advantaged retirement plan to provide the business significant savings while attracting and retaining top talent
Simplifying employee investment decisions with model portfolios
Optimizing cash management and utilizing high-yield strategies for better returns
Saving additional funds through strategic cash balance plans
Leveraging a network of experts for comprehensive business support
Larry’s hands-on experience and credible advice for business owners
And More!
Tune in to transform your business’s financial strategy and achieve long-term success.
Beyond managing your investments and portfolio, have you ever wondered what else financial advisors do?
Understanding the full scope of financial advisory services is essential to maximizing the benefits of your financial plan.
In this enlightening episode of Life Unlimited, host Larry Heller, CFP®, CDFA® explores the multifaceted role of financial advisors. He addresses common misconceptions and emphasizes that effective financial advising extends well beyond investment decisions.This episode provides a deep dive into how we create personalized financial plans for clients, addressing all aspects of their financial lives to ensure future preparedness. Tune in to learn how we can help you achieve financial security and peace of mind through our comprehensive financial planning and detailed strategies.
Key Points Covered:
Larry’s dedication to educating clients and alleviating financial anxieties
Clarifying the comprehensive role of financial advisors beyond just investments
The critical importance of financial planning before making investment decisions
Detailed financial planning processes: goals, time horizons, and financial needs
Components of financial planning: cash flow analysis, risk management, tax planning, investment management, estate planning, and retirement planning
Differentiating traditional investments (stocks, bonds, mutual funds) from alternative investments (private equity, private credit)
The importance of regular financial monitoring to adapt to life changes
Addressing client concerns: inheritances, safe retirement strategies, and account consolidation
Highlighting the transparency of fee structures and the importance of fiduciary duty
Are you effectively using tax strategies to boost your retirement investments?
Explore this insightful episode of the Life Unlimited Podcast featuring Larry Heller, CFP®, CDFA®. Larry delves into strategic tax planning and investment strategies designed to optimize retirement savings both during your working years and in retirement. Drawing from his experience as a former CPA, he underscores the significance of not only what you earn but also what you retain after taxes. Tune in as Larry highlights key strategies like capital gains management, tax loss harvesting, and the advantages of ETFs over mutual funds for tax efficiency. The episode emphasizes the importance of proactive tax planning for a secure and financially efficient retirement.
Larry Discusses:
The importance of understanding the advantages of ETFs for minimizing capital gains taxes
How and when to implement this strategy to reduce taxes by offsetting gains with losses
Insights on deciding which retirement account fits best depending on your current and future tax brackets
Maximizing tax benefits by converting during lower-income years, benefiting both the account holder and heirs
The necessity for a coordinated approach between financial advisors and tax professionals to optimize retirement strategies
Are your 401(k) offerings impacting employee wellness and engagement?
Join Larry Heller, CFP®, CDFA®, in the concluding episode of our four-part series, “An Employer’s Guide to 401k Plans.” This final segment focuses on the broader impact of 401(k) plans in terms of employee well-being and corporate culture. Larry explores how these plans transcend traditional retirement savings and play a pivotal role in fostering financial literacy, engagement, and loyalty among employees.
Larry Discusses:
The vital role of 401(k) plans in attracting and retaining talent and the extensive benefits for employers
Clarifying contributions, fund choices, and Roth options in 401(k) plans to support informed decision-making
Providing easily accessible resources and dedicated support for navigating 401(k) plans effectively
The importance of comparing model portfolios with target date funds for diverse financial needs and personalized investment approaches
The need for showcasing an employer’s commitment to employee well-being through comprehensive financial wellness programs
The necessity of continuous communication and regular educational meetings to engage employees in their 401(k) plans
Are you confident in your mastery of 401k fiduciary responsibilities?
Continuing the engaging “Employer’s Guide to 401k Plans“ series with Larry Heller, CFP®, CDFA®, this second installment dives deeper into the crucial topic of 401(k) fiduciary governance. Building on the foundational knowledge from Part I, Larry guides listeners through the intricate responsibilities and best practices essential for effectively managing a 401(k) plan.
Larry Discusses:
The broad scope of fiduciary responsibility, extending beyond plan sponsors to key employees involved in plan management
The crucial role of adhering to the plan document as the governing ‘bible’ of the plan
Common pitfalls in 401(k) management, such as failing to timely notify eligible employees, and the significant consequences of these oversights
The pivotal role of 401(k) plans in employee retention and attraction, highlighting their importance as a core employee benefit
Investment oversight essentials, including the need for diversification, low costs, regular reviews, and the advantages of model portfolios
The necessity of regular benchmarking and impartiality in selecting service providers
The importance of education and effective communication about the plan to employees
Is it possible for 401(k) plans to work harder for you?
Join Larry Heller, CFP®, CDFA®, in this essential mini-series where Larry unravels the intricacies of 401(k)’s. This episode covers crucial topics such as the significance of proper plan design, the diverse types of 401k plans, and the advantages of offering these plans for business owners. From perspectives on contributions and matching to navigating investments and educational aspects, this podcast equips you with the knowledge to navigate the complexities of 401(k) plans.
Larry Discusses:
Various 401(k) plan types like Regular, Safe Harbor, and Matching Contribution plans
The substantial tax benefits for business owners and grasping the real value of comprehensive 401(k) plans, transcending mere costs
How adaptable 401(k) plan designs cater to evolving company needs
The significance of early involvement in plans and the critical choice between Roth and traditional contributions
Emphasizing the necessity of specialized education and tools like retirement calculators for making well-informed decisions
Heller Wealth Management’s benchmarking service to compare 401(k) plans against industry norms
