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Resources

Is It Time to Cut Cable?

An explosion in the number and variety of streaming services, coupled with more time spent at home in the last year, might have you wondering whether it’s time to cut the cord on cable. After all, cable isn’t getting any cheaper. At the beginning of 2021, many large cable and satellite television companies announced higher prices and reinstated data caps, which were temporarily suspended in 2020 by the Federal Communications Commission.1 But is it really worth it to ditch…

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International Investing: Opportunity Overseas?

For the past decade, U.S. stocks have outperformed foreign stocks by a wide margin, due in large part to the stronger U.S. recovery after the Great Recession. In general, U.S. companies have been more nimble and innovative in response to changing business dynamics, while aging populations in Japan and many European countries have slowed economic growth.1 Despite these challenges, some analysts believe that foreign stocks may be poised for a comeback as other countries recover more quickly from the…

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Don’t Let Debt Derail Your Retirement

Debt poses a growing threat to the financial security of many Americans — and not just college graduates with exorbitant student loans. Recent studies by the Center for Retirement Research at Boston College (CRR) and the Employee Benefit Research Institute (EBRI) reveal an alarming trend: The percentage of older Americans with debt is at its highest level in almost 30 years, and the amount and types of debt are on the rise. Debt Profile of Older Americans In the…

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Can You Fund Your Retirement?

IMPORTANT DISCLOSURES Wellspring Financial Partners, LLC does not provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances….

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A Steady Strategy

One of the most fundamental truths of investing is that you can’t time the market. As legendary investor and economist Bernard Baruch put it, “Don’t try to buy at the bottom and sell at the top. It can’t be done except by liars.”1 Even so, it’s natural to wince a little when you buy an investment only to see the price drop, or sell only to see the price rise. And no matter how much you try to make…

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American Rescue Plan Act (ARPA) – Some Highlights for Pension Plans and 401(k)

Under the American Rescue Plan Act of 2021, Tax Payers will Pick up the Tab for Underfunded Multiemployer Pension Plans for the Next 30 Years The American Rescue Plan Act of 2021 (“ARPA”) is the $1.9 trillion stimulus package signed into law by President Biden on March 11th.  The key provisions are a $300 per week supplement to unemployment benefits, paid emergency leave for 100 million individuals and $1,400 in direct payments to many Americans. Among many other provisions,…

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Decisions, Decisions: Weighing the Pros and Cons of an IRA Rollover

If you lose a job, switch employers, or step into retirement, you might consider rolling your retirement plan savings into an IRA. But this isn’t your only option; it could make more sense to keep the money in your previous employer’s plan or move it to your new employer’s plan (if allowed by the plan). You could also cash out, but that’s rarely a good idea. Withdrawals from tax-deferred retirement accounts are taxed as ordinary income, and you could…

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As Expected, the Biden Administration Plans to Walk Back the New Regulation Restricting the Use of ESG Funds in 401(k) Plans

ESG investing looks at environmental, socially responsible and corporate governance criteria in evaluating investments. The belief is that, over the long term, these factors can positively impact financial performance. The popularity of ESG investing has increased in recent years. Many defined contribution plans now include an ESG option in their lineup. Net flows into these funds reached $51 billion 2020, which represents a tenfold increase over 2018. The Department of Labor’s new rule for ESG investments took effect January…

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Considerations When Making Gifts to Children

If you make significant gifts to your children or someone else’s children (perhaps a grandchild, a nephew, or a niece), or if someone else makes gifts to your children, there are a number of things to consider. Nontaxable Gift Transfers There are a variety of ways to make transfers to children that are not treated as taxable gifts. Filing a gift tax return is generally required only if you make gifts (other than qualified transfers) totaling more than $15,000…

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Federal District Court Rules Record Keepers May Use Participant Data to Cross-Sell Retail Products

Harman et al vs. Shell Oil Company et al   This class action suit, filed in January of 2020, was brought on behalf of participants in the Shell Provident Fund 401(k) Plan. The case was filed in the Federal District Court for the Southern District of Texas. The allegations are typical of such suits and include contentions such as the plan fiduciaries allowed the Plan to bear unreasonable administrative costs and failed to adequately monitor the investment lineup.  …

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