How Income Taxes Work Taxpayers and businesses spend an estimated 7.1 billion hours a year complying with tax-filing requirements, which is worth $388 billion in economic value just to comply with tax regulations. As complex as the details of taxes can be, the income tax process is fairly straightforward. However, the majority of Americans would rather not spend time with the process, which explains why half hire a tax professional to assist in their annual filing. Getting St

The 401(k) Shift Private Equity’s Expanding Presence America’s 401(k) system—long seen as a steady way for workers to save—is changing. Private equity firms and large Wall Street investors are expanding their role in the retirement industry. They are buying recordkeepers, consulting firms, third-party administrators, and advisory practices that serve plan sponsors and participants. For decades, most 401(k) plans relied on mutual funds and index strategies. These investments o

Prevent a Rift: Money Tips for Newlyweds One survey found that 35% of couples attribute stress in their relationship to financial issues. This could explain why some experts say financial problems are one of the top reasons marriages fail. Fortunately, when couples work together to address their finances, they may be able to mitigate many of the problems money may cause in a marriage. 10 Tips for Newly Married Couple 1. Communication – Couples should consider talking about th

Employer-Supported Emergency Savings Features: Plan Sponsor Considerations Employees, particularly those early in their careers, are worried about their ability to handle major, unexpected expenses. According to a new CAPTRUST report, emergency savings is the top financial concern for workers aged 18–30 and ranks among the top three worries for older employees. Employees Uneasy as Preparedness Lags According to research by Empower, 50% of American workers admit they’re stress

IRS Issues New Guidance on Plan Distribution Safe Harbors When employees leave an organization, they face an important decision about their retirement savings. Do they leave them in their former employer’s plan? Roll them into an IRA or into their new employer’s plan? Or cash out? The decision a participant makes can have a lasting impact on their retirement savings trajectory. The IRS recently issued IRS Notice 2026-13, which provides safe harbor language sponsors can use to

401(k) Check-ins Can Help You Stay on Track In many ways, saving through your employer-sponsored retirement plan has never been more convenient. Automatic enrollment, auto-escalating contributions, and target date funds can make saving feel almost effortless by quietly adjusting your contributions and investments over time. While automatic features remain powerful allies in your savings strategy, you may also want to ensure your overall approach reflects any significant life

From “Magic Number” to Real Plan Financial headlines often promote a single target—commonly $1 million—as the benchmark for retirement readiness. While attention-grabbing, such figures oversimplify a complex question. Retirement needs vary significantly. Cost of living differs by geography. Spending patterns are personal. Retirement ages range widely. Income sources such as Social Security, pensions, rental income, or part-time work materially affect required savings. A singl

Travel Smarter Enjoy Experiences Now Without Undermining Tomorrow After several years of disruption, travel has returned in force. But the environment has changed. Long security lines, elevated airfare, and higher hotel rates mean travel decisions deserve more planning than they did when costs were lower. The most useful question isn’t “Can I afford this trip?” but “Can I take this trip without disrupting my long-term goals?” For many people, the answer is yes—but it helps to

The “Family Tax Office” Mindset Kids, Education, and Inter-Generational Planning Most families experience taxes in fragments: a 529 plan opened when a child is born, a custodial account started with a grandparent gift, retirement accounts scattered across employers, and estate documents drafted years ago. The “Family Tax Office” mindset takes a different approach. Instead of treating each account or decision in isolation, it views the household—across generations—as a coordin