Elk Pointe Capital

Small business owners often think of their employees as family, but are they set up like it? This post opens the conversation around retirement options available to small business employees, reminding owners that a 401(k) isn't the only choice and that some options are built specifically for smaller teams.

There are so many reasons to create a will this month, but here are three big ones to consider:

Direct Your Property: Creating a will tells the courts how you want your property distributed. Without a will, state laws will determine how your estate is divided, which may not align with your intentions.

Provide instructions to the probate court: A will can help manage the probate process, providing instructions to the court.

Designate Guardianship for Minor Children: If you have minor children, a will allows you to appoint a guardian to care for them. This crucial step directs that your children are raised by someone you trust, rather than leaving the decision to the courts.

This Fourth of July, independence is worth celebrating (and planning for). Wishing you and your family a safe, joyful holiday!

Some of the most important lessons aren’t taught; they’re modeled every day. Happy Father’s Day to all the fathers and father figures who lead by example.

A will is essential, but it’s not meant to hold every detail of your life. Including the wrong assets can trigger legal battles, lost inheritances, or public exposure of private information. Consider these guidelines:

•Keep beneficiary accounts out: Life insurance, 401(k)s, and IRAs pass directly to named beneficiaries and will override anything in your will, causing conflicts.
•Never list passwords or account numbers: Wills become public court documents after death, exposing sensitive financial data to anyone who requests it.
•Use trusts for special cases: Pets, special needs dependents, business interests, and fi****ms require separate legal structures to avoid complications.

Source: https://bit.ly/qokTh

👀📊Check out the potential benefits of starting early and saving consistently. With a 529 plan, even modest monthly contributions can grow significantly over time.

Here are a few points to consider:
📚 529 plans are an effective college savings vehicle with potential tax advantages.
📚Any family member can contribute or even set up a plan (Grandparents love this!).
📚Withdrawals for education expenses are federally and usually state tax-free.
📚Under certain conditions, some funds can now be rolled over into a Roth IRA.

Starting early can make a big difference!

Memorial Day is a time to pay tribute to those who made the ultimate sacrifice in service to the United States. They will always be remembered. Wishing you and your loved ones a peaceful Memorial Day holiday.

Honoring the ones who make it all possible. Happy Mother’s Day. 💕

Trying to save money? Cutting the wrong corners could cost more over time.

✨Delaying home or car maintenance can lead to much larger bills later.
✨Protect what matters: Cutting insurance coverage to lower premiums may create major financial risk.
✨Know when help pays off: Tax, legal, and financial professionals may help you avoid costly mistakes.

Learn 5 ways extreme cost-cutting can backfire: https://bit.ly/42kNWz8

I'm a Financial Advisor: 5 Times Being Too Frugal Will Cost You More in the Long Run - AOL Cutting costs can backfire. An expert explains how extreme frugality hurts your net worth, limits growth and exposes you to costly risks over time.

Are you accidentally planning for a retirement that's too short? New research says most Americans are. Here's what to consider:

Know the real numbers.The average 65-year-old woman lives to 87; a man to 84, and there's a 30–40% chance of reaching 90.

Longevity drives savings behavior.Those who expect a 30+ year retirement are twice as likely to save regularly compared to those who expect fewer than 10 years.

Aim for 15%.Including any employer match, that's the savings target, yet many short-horizon save just a fraction of what experts recommend.

Read the full breakdown so you can plan for the retirement you'll actually have: https://bit.ly/48kFzXK