401(k) plans have become so commonplace that not having one at work is a red flag. Business owners typically set them up to attract and take care of employees, and also to develop a way to save themselves taxes. But most people don’t know that such plans carry tremendous risks for business owners.
Regardless of who rules Washington in the early 2020s, one thing is certain; deficits, Social Security, and Medicare costs will go to unsustainable levels in a few short years now, and the money will have to come from somewhere. The best bet is higher taxes.
However noble the quest to reset the US/China trading relationship – and there is no question that the Chinese have been snookering the world, taking advantage, cheating, and worse for decades now – some fear Mr. Trump may have overplayed his hand.
The investment markets have been on a bit of a roller coaster since the September rally, with the continuing trade war, instability in the Middle East, and political drama with the impeachment inquiry all contributing to some sharp market bounces.
While commonly used and ostensibly for retirement, consumers should be very careful when considering variable annuities, which are a form of life insurance with securities investment aspects.