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Surprise! Qualified retirement savings plan sponsors are, in fact, fiduciaries

Surprise! Qualified retirement savings plan sponsors are, in fact, fiduciaries

Finance
A 401(k) or any other qualified retirement savings plan is an extremely important part of overall financial planning for the long-term future. Participation in a qualified plan gives one a head-start on long-term financial security.The qualified plan not only provides a mechanism for saving, it also allows the money in the account to compound tax-deferred (or in the case of a Roth plan, tax-exempt). That means the earlier a person begins to participate in making contributions, the greater chance he or she has in amassing a substantial retirement account that may ultimately provide future financial independence.A high-quality advisory firm takes an active role in shaping clients' qualified plan portfolios, such as 401(k) plans, 403(b) plans, 457s, etc. The advisor looks at a client's overal...
North Korea 'examining' plan to strike Guam

North Korea 'examining' plan to strike Guam

World
North Korea says it is "carefully examining" a plan to strike the US territory of Guam with missiles.The threat came hours after President Donald Trump told Pyongyang that any threat to the US would be met with "fire and fury".A spokesman for the Korean People's Army said the strike plan would be "put into practice in a multi-current and consecutive way any moment" once Kim Jong Un makes a decision.He added that "enveloping fire" would be used to contain major US military bases on the island territory in the western Pacific Ocean - including the Anderson Air Force Base.KCNA, Pyongyang's state-run news agency, also carried a statement from a different military official which said North Korea may carry out a pre-emptive operation if the US shows signs of provocation.:: Why is North Korea thr...
Ditch that budget and craft a 'financial freedom' plan instead

Ditch that budget and craft a 'financial freedom' plan instead

Finance
I don't know about you, but I hate the word "budget." It suggests scarcity and constriction.Though I have always been more likely to indulge myself than to deny myself, I have come to realize that with money, as with life, boundaries are often necessary to create more freedom. So I call my budget my "financial freedom" plan.How can you create a financial freedom plan? The first step is to define your goals and your values. What would you be doing if you had more time? What responsibilities would you give up if you could? Where do you see yourself in five years if everything goes right in your life? It helps to bring as much detail as you can to your vision. Knowing that I am living my dream of varied days, using my skills to help people find peace and overcome challenge in their financial ...
Republicans' Obamacare repeal plan 'axes insurance for 32m'

Republicans' Obamacare repeal plan 'axes insurance for 32m'

World
Media playback is unsupported on your deviceThirty-two million Americans would lose health coverage under a Republican plan to repeal Obamacare, the Congressional Budget Office (CBO) has forecast.The non-partisan office's analysis found the cost of a medical insurance policy would increase 25% next year and double by 2026. The so-called repeal-and-delay bill would also cut the federal deficit by $ 473m (£363m), predicted the CBO.The Republican controlled Senate has twice failed to pass a healthcare bill.The CBO estimated the number of uninsured would rise by 17 million next year alone if the Affordable Care Act were to be dumped without a new healthcare plan, as Republicans plan to do.President Donald Trump earlier called on his party to postpone their summer holiday until they have kept t
'Let Obamacare fail,' Trump declares as GOP plan collapses

'Let Obamacare fail,' Trump declares as GOP plan collapses

Health
President Donald Trump declared Tuesday it's time to "let Obamacare fail" after the latest GOP health care plan crashed and burned in the Senate, a stunning failure for the president, Republican leader Mitch McConnell and a party that has vowed for years to abolish the law. In a head-spinning series of developments, rank-and-file Republican senators turned on McConnell and Trump for the third time in a row, denying the votes to move forward with a plan for a straight-up repeal of "Obamacare." This time, it was three GOP women — Susan Collins of Maine, Lisa Murkowski of Alaska, and Shelley Moore Capito of West Virginia — who delivered the death blow. All had been shut out of McConnell's initial all-male working group on health care. McConnell, who could afford to lose only two votes in the