Using an After-Tax 401(k) to Boost Retirement Savings
One of the most popular retirement savings vehicles available to employees is a 401(k) plan. These plans offer tax-deferred contributions, where plan participants reduce their taxable income and defer tax responsibilities until withdrawing funds from the plan in retirement. While most of the contributions to 401(k) plans are made via pre-taxed income, it is possible […]
The Secrets of Longevity & Happiness: Lessons from Dan Buettner’s Blue Zones
Have you ever wondered what the secret is to a long and happy life? Minnesota native Dan Buettner has dedicated the last two decades to researching this with National Geographic, exploring the globe and discovering “blue zones,” or communities — demographic and geographic areas of the world — where people are most likely to live […]
The Comprehensive Role of Life Insurance: Thinking Beyond Immediate Needs
Life insurance serves a dual purpose: addressing immediate financial obligations like funeral expenses and providing long-term financial security for family members and beneficiaries. Beyond these fundamentals, life insurance plays a crucial role in establishing a stable retirement for surviving spouses and supporting business continuity through buy-sell agreements. Ensuring Security of Surviving Family Members For married […]
Minnesota Estate Tax for Florida and Arizona Residents
Earlier this year, JNBA Financial Advisors had the pleasure of hosting Chad Carr, an estate attorney and partner from Twin Cities-based firm Stadig Johnson to share his expertise with our Advisory Team regarding Advanced Estate Planning Strategies for those subject to Minnesota Estate Tax. While Estate Tax can be fairly straightforward, there are some nuances […]
Watch out for these tax scams!
Taxation can be a complex landscape, rife with potential pitfalls and scams that unsuspecting individuals and businesses may encounter. Here we delve into the IRS’s Dirty Dozen tax schemes, highlighting the most frequent scams that taxpayers are encountering. 1. Syndicated Conservation Easements: Conservation easements serve as important tools for protecting natural habitats while providing tax […]
Self-Employed Retirement Savings
Self-employed individuals inherently make a lot of decisions on a daily basis. One decision that can seem daunting but should not be overlooked is what type of retirement plan to utilize. As a self-employed individual, saving for retirement can be difficult. The potential of fluctuating income, , higher health care costs, and everyday expenses of […]
Six Considerations Before Buying a Second Home
Buying a second home can be an alluring prospect. Before you decide to purchase one, there are several items to consider. These include the costs associated with owning a second home, the attributes of the home, its rental potential (if you plan to rent it out when you are not using the property), and the […]
Have You Received Employee Stock Options?
If you work for a large public company or a brand-new startup, you may find yourself receiving at least some of your compensation in the form of stock and/or options grants. These benefits are meant to reward key employees, promote employee retention, and let employees share in a company’s success. The most common form of […]
The Value of an Advisor: 2021 Update
At JNBA, we’re confident that one of the major reasons our independent fee-only firm has thrived over the past four decades is the value we provide to our clients. We are dedicated to being our clients’ irreplaceable partners — since we started tracking in 2001, we’ve earned a 97% client retention rate. And we’re continually […]
What is the difference between a health savings account (HSA) and a flex spending account (FSA)?
Healthcare costs can be expensive, even for the healthiest people. Even if you have health care insurance, you may want to take advantage of other options for saving for medical expenses not covered by insurance. Outlined below are some of the differences between the two most common accounts offered to individuals and families, health savings […]