Retirement Planning

When Should I Take Social Security Benefits?
Team SummitEmployee Financial Resource Center, Financial Planning, Retirement PlanningComments are off for this post
Before deciding when to begin taking Social Security, consider these factors: Other sources of income. Work with your retirement plan consultant to evaluate the tradeoffs involved in taking your Social Security benefits earlier (and letting other assets grow untouched for a longer period) vs. dipping into retirement assets immediately and deferring your Social Security benefits.  Read More →
Increase Retirement Plan Contributions Without Impacting Your Lifestyle
Team SummitEmployee Financial Resource Center, Financial Planning, Retirement PlanningComments are off for this post
One of the best times to think about increasing your retirement plan contributions is when you get a raise. Any time you earn a raise, you have the opportunity to increase your retirement savings or begin saving for retirement without impacting your current lifestyle. Additionally, if your company offers a match, you may be able  Read More →
Retirement Plan Loans: To Borrow or Not to Borrow?
Team SummitBudgeting & Debt, Employee Financial Resource Center, Retirement PlanningComments are off for this post
Although you may have the ability to borrow money from your retirement plan in the form of a loan, please proceed with caution! If you borrow from your retirement account, you may end up causing harm to your financial future. Below are a few of the drawbacks to taking a loan from your retirement plan:  Read More →

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