By Glenn J. Downing, MBA, CFP®
Employer-sponsored retirement plans can be split into two groups:
- Defined Contribution Plans, or DC Plans
- Defined Benefit Plans, or DB Plans
As the name suggests, the salient feature of any defined contribution plan is the input – how money goes into the plan. ...
By Glenn J. Downing, MBA, CFP®
It used to be the case that you went to work for one employer and remained with that employer for the entirety of your working life. You received a pension from that employer when you retired – in other words, you continued to get paid a lesser amount even though you...
by Glenn J. Downing, MBA, CFP®
In Part I of this 3-part series I gave a brief history of the life insurance industry.
Here in Part II I'll go over the main applications for life insurance policies. Next, in Part III, I'll discuss some of the behavioral issues in obtaining coverage.
Uses of ...
By Glenn J. Downing, MBA, CFP®
This retirement savings vehicle gets its name from Section 457 of the tax code. It is a type of non-qualified deferred compensation. The employee defers money into the 457 account on a pre-tax basis. Any growth in the account doesn’t get taxed until it is ultimately w...
by Glenn J. Downing, MBA, CFP®
I came to financial planning as a profession in my 40’s, having made a mid-life transition from retail management. I worked in both department stores and specialty retail and generally enjoyed the work. I always enjoyed Christmas in the stores – the music, the new fr...
