Articles Tagged with Houston 401(k)s

Beneficiary Designations: Do You Know Who’s Who in Houston?

Published on: March 21, 2016 | By McCulloch & Miller, PLLC

If you don't remember who your beneficiaries are for your investment accounts, insurance policies or annuity contracts, then you need to carve out some time to go through your accounts and see who you named as your beneficiary. If it's been a while, you may be in for a rude awakening.

Beneficiary designations allow certain assets owned by an individual to transfer efficiently at her or his passing. These include retirement accounts like IRAs, Roth IRAs, 401(k)s, 403(b)s, 457(b)s, and pensions, as well as life insurance death benefits and the residual value of annuities.

These types of assets with designated beneficiaries will transfer automatically, despite anything written to the contrary in a person's will or trust. These assets with designated beneficiaries are also excluded from the decedent's probate estate unless the "estate" is the designated beneficiary.

It’s Simple Math: Save for Retirement

Published on: December 30, 2015 | By McCulloch & Miller, PLLC

It’s simple math. A plan to save more and spend less is a good plan for retirement.

But a recent Forbes article, "The Most Potent 401(k) Booster," says that if you have the self-discipline and the ability to plan, you can shrink your debts and add to your emergency, college, or retirement funds.

Saving is essential. A recent Wells Fargo survey says that 71% of those over 40 who are consistent savers believe they will have enough for retirement. The more you save, the more confident you will become in your ability to live the life you want.