As the debate around tax reform grows more heated, broker-dealers and other companies that service retirement plans offered by employers are increasingly concerned that the tax benefits of 401(k) plans are on the chopping block. An industry group that normally works behind the scenes, the American Society of Pension Professionals and Actuaries, on Monday launched a media campaign intended to educate U.S. employers and workers that the federal government might consider changing the tax benefits of retirement savings accounts. That worries the ASPPA because Americans might end up saving less, […]

It’s tempting to overspend during the holiday season. While the average consumer plans to pay off holiday bills in three months, the true time frame is more like six months, according to a report by Myvesta, a financial crisis center in Rockville, Md. Why do so many consumers fall short of their goals? For starters, it’s easy to get caught up in the material trappings of the holiday season. It’s a challenge to stay focused on such mundane things as a spending budget, but it’s essential. Without a self-imposed holiday […]