retirement

401(k) Plan Investments in Cryptocurrency
Team SummitEmployer Resource Center, Fiduciary Governance, Plan InvestmentsComments are off for this post
The recently published Department of Labor Compliance Assistance Release 2022-01, titled “401(k) Plan Investments in “Cryptocurrencies,” should cause fiduciaries to pause in deciding to move ahead with the offering of crypto in their defined contribution plans. Although there have been rumblings of unofficial high-level comments in regards to cryptocurrencies from representatives of the DOL in  Read More →
Retirees’ Retirement Asset Withdrawal Rate: Will Your Money Last?
Team SummitEmployee Financial Resource Center, Employee Outcomes, Employer Resource Center, Financial Planning, Retirement PlanningComments are off for this post
For many years the investment advisory community has proposed that if retirees withdrew their retirement assets at the rate of 4% annually there is a high probability that assets would last to normal life expectancy. The 4% “rule” is not a one-size-fits-all solution, and there are several variables to consider, but it could at least  Read More →
Thanks for the Memories: Gratitude and Financial Wellness
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
So much about financial wellness has to do with cultivating a mindset that favors delayed versus immediate gratification. In the language of behavioral economics, the tendency to prefer short-term rewards is called hyperbolic discounting. This often leads to more impulsive decision-making, and it can feed excessive personal debt and hamper retirement readiness over time, whereas  Read More →

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