Jay Gershman, Retirement Visions LLC, West Hartford
After a summer of high profile suicides and watching Kevin Love of the Cleveland Cavaliers talk about his anxiety issues, I decided it was high time to discuss the effect anxiety and depression can have on your finances and your ability to live a fulfilled life.
You might have read about how anyone could sneak $5,500 a year into a Roth IRA—even if exceeding standard income limitations—through a technique known as the backdoor Roth IRA. But did you know there is an even trickier technique out there that allows some lucky people to contribute up to $35,000 a year into a Roth IRA?
A surprising number of small-business owners fail to offer retirement plans, often because they don't understand all the options available. Here's an overview of all the major features of each kind of retirement plan—including SIMPLE, SEP, 401(k), defined-benefit, and profit-sharing plans—that you can share with clients.