1160 US Highway 22, Ste 202 Bridgewater, NJ 08807
(908) 864-4950

The Pros and Cons of Borrowing From Your 401(k) Plan

One of the biggest disadvantages that participants face when taking a loan from a retirement plan is that the dollars used to pay the interest on the loan from the account are taxed twice. According to Lloyd Sacks, managing director of Sacks & Associates and a certified financial planner professional, the first tax occurs when the participant earns the funds and pays income tax on that earned income.

National Retirement Security Week – Understanding what you need to do to live your best financial life in retirement

The week began as a national effort to raise public awareness about the importance of saving for retirement and working toward life savings goals. At Sacks & Associates Wealth Management our goal is to help our clients with their financial security leading up to and throughout retirement, so that they can make the most of their golden years.

SIMPLE IRAs

What Is a SIMPLE? There are many types of employer-sponsored retirement plans. One that may appeal to small businesses and to self-employed individuals is the savings incentive match plan for employees of small employers (SIMPLE) because, as the name implies, it is easy to set up and administer, and employers are allowed to take a

read more

Processing...
Thank you! Your subscription has been confirmed. You'll hear from us soon.
Subscribe to the Sacks & Associates email list to get valuable insights right in your inbox.
Your personal information is vital to us, we won't abuse it or share it with anyone.
ErrorHere