Small business owners may find it challenging to find ways to provide additional benefits to their children who work for the company. One often overlooked choice is including a Roth individual retirement account (IRA) as part of their compensation, a strategy that offers the potential to benefit both the children and the business.
Small businesses play a significant role in labor markets. They employ 61.7 million Americans, 46.4 percent of all private-sector employees. Over the period from 1995 to the present, small businesses have been responsible for generating 17.3 million net new jobs, which accounts for an impressive 62.7 percent of all jobs created since 1995.1
As the whispers of spring turn into a full-blown chorus, excitement builds for the upcoming travel season. But for those approaching retirement, a different, yet equally thrilling journey is about to take off: the journey towards financial freedom. In this pre-departure guide, we'll explore two essential retirement vehicles – Traditional and Roth IRAs – equipped with their latest 2024 upgrades, to help you land a smooth and comfortable financial future.
As the confetti settles and the champagne fades, a familiar feeling might bubble up: it's time for a fresh start. But instead of committing to vague resolutions, let's focus on something tangible, something that impacts your life every day – your finances. This year, let's kickstart your budget and review your insurance, building a secure foundation for your financial future.
Preparing for college while still in high school can be difficult for even the most academically-minded student. These days, you need to excel in the classroom, make sure you're involved in extracurricular activities, and enroll in challenging classes to impress a college admissions board. On top of that, the financial cost of higher education may add to what is already a stressful time in an ambitious student's life. Luckily, with a little preparation, you may be able to make applying for financial aid painless and stress-free. Read on to learn more.
In the exciting world of personal finance, understanding and managing your cash flow is akin to mastering the control panel of a high-performance sports car. A firm grasp on this element helps you steer your financial journey in the right direction, enabling you to live comfortably today while preparing for a secure future. In this blog, we'll dive into why positive cash flow plays a crucial role in your financial health.
Investors need to remember that markets can be turbulent. Between February 12, 2020, and March 23, 2020, the Dow Jones Industrial Average* lost 37% of its value due to the onset of the COVID-19 pandemic. Fortunately, recovery was swift, and by November 2020, U.S. markets had returned to their pre-pandemic highs.1 Preparing for declines is essential. There can be a strong temptation to pull out of the markets when they tumble. Instead of retreating, you may need to adjust your investment approach. By remaining flexible, you could be able to take advantage of opportunities while managing risks.
The pandemic sparked some interesting retirement trends. First there was an unexpected decline in the share of workers in the United States who were 55 and older, prompting a study called “The Great Retirement Boom” by economists with the Federal Reserve. By early 2022, the trend was reversing. “Unretirements” were on the rise, with an estimated 1.5 million retirees returning to work in the U.S. labor market by March 2022. A study of Labor Department data by Nick Bunker, an economist with Indeed, revealed that as of March 2022, 3.2% of workers who had retired a year earlier had gone back to work, becoming unretired.
Check the background of your financial professional on FINRA's BrokerCheck.
The financial consultants of Logix Financial Services are registered representatives with, and Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Logix Federal Credit Union (LFCU) and Logix Financial Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using the name Logix Financial Services, and may also be employees of LFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of LFCU or Logix Financial Services. Securities and insurance offered through LPL or its affiliates are:
Not Insured by NCUA or Any Other Government Agency
Not Credit Union Guaranteed
Not Credit Union Deposits or Obligations
May Lose Value
The LPL Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
Logix Federal Credit Union provides referrals to financial professionals of LPL Financial LLC ("LPL") pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for brokerage or advisory services. Please visit https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html for more detailed information.
