Good Financial Read: Advice for Employees


    Advice for employees

    What happens to my 401 (k) if my employer is sold?

    by Brian Berkenhoff, Birch Investment Management

    Corporate mergers are nerve wracking because they bring a lot of unknowns into your life. Questions immediately come to mind. How will this affect your position? Your salary Will there be layoffs? After the initial shock, other questions arise. What happens to your retirement plan if your employer is sold? Often times, the details are not finalized until months after the merger is complete.

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    Stay diversified from your employer

    by Michelle Schmalenberger, Financial Design Studio

    Do you know where your money is invested? Whether you invest in your company’s retirement savings account or choose your own investments, what do you really own? You will remember the decision you have when having to choose from a list of available funds. Often you will see the name of a fund and a description or performance history, but you don’t really know what that fund is invested in.

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    Now is the time to find a new job

    by Rob Stoll, Financial Design Studio

    We are in a unique moment for employees. Since the 1990-1991 “jobless boom” cost President George HW Bush the ’92 election, Corporate America has had the upper hand over its people. But times are changing. Your income can be your greatest financial “asset”, creating opportunities to save, spend and donate for your family’s financial goals. With this in mind, from our point of view, now is the right time to look for a new job!

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    How To Understand Your Pay Stub

    by Cody Garrett, Measure Twice Financial

    Remember the last time you received an actual physical check on payday? It was exciting to receive this envelope at the end of the week that revealed the tangible reward for investing much of my time and talents. There were dozens of valuable insights on the payroll, but most of us just looked at the check amount and thought, “Yeah, that sounds about right.” With electronic payrolls and direct deposits replacing that old school approach of paying by check, many employees fail to access and review their payrolls at all – sometimes for months, even years! Shocking i know

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    Do you want more money per paycheck?

    by AnnaMarie Mock, Highland Financial Advisors

    An employee fills in Form W-4 to inform their employer of the amount to be withheld for federal taxes. The W-4 can result in over- or underpayment of taxes for the year if not done correctly.

    The new design from 2020 reduces the complexity of the form and increases the accuracy of the deduction system. Employees who completed the previous version of Form W-4 before 2020 do not need to submit a new form, meaning employers will continue to use the most recently submitted version.

    [Read the Full Article]

    Following financial advisor blogs is a great way to access valuable, educational information about finance – and it won’t cost you anything! Our financial planners are happy to share their knowledge and help everyone, regardless of age or wealth.


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