hfmmainlog, Author at HFM Investment Advisors, LLC

2022 was a rough year for investors. And when the market becomes challenged, people begin to feel intimidated and might look to put their money elsewhere. And yes, investing involves risk, but don't stick your head in the sand and think relying on bank interest will be enough to reach your goals because, historically, you will lose to inflation over the long term. Jason and Tyler review market turbulence, past market performance and what those investments would be worth today. Tune into this episode to also learn: How to beat inflation The right way to calculate how much you’re really…

Let’s Talk About Cash

Financial Wellness, Investments, Podcast

With recent banking collapses and interest rates still at recent highs, understanding the right place for your cash is more important than ever. In this episode, we discuss different options for cash while maximizing its value and protection. We’ll explore alternatives to bank accounts like money market funds and treasury bills. By comparing various cash management strategies, you'll gain insights into the most effective ways to safeguard your wealth in uncertain times without sacrificing growth potential. Tune into this episode to also learn: Options for how to store your cash How to maximize your money while maintaining a cash…

How an Advisor’s Pay Can Reflect Their Market Views

Financial Wellness, Investments

We often like to quip that, in life, “you get what you pay for.” Generally, when someone says this, they are referring to some el cheap-o hotel they got because they were looking to save a few bucks on a trip back in college. Sure, the bed was uncomfortable, and the hot water only lasted for a few minutes, but you couldn’t beat the price. The same sentiment is true in many other facets of life, including the input of financial advice. You can get input from your news-obsessed uncle for free, but that is likely about how much his…

Why Stock Market Predictions Are Worthless

Financial Wellness, Investments

Summary You’ve probably clicked on an article or watched a video predicting how the stock market will perform - but are they ever right? We examine some predictions from top financial institutions like Goldman Sachs, JP Morgan, and Bank of America for 2022 and how they actually turned out and discuss whether it ever makes sense to make investment decisions based on predictions or forecasts. Tune into this episode to also learn: ● Why stock market predictions are (almost) always wrong ● How recency bias affects financial forecasts ● How using market performance predictions to guide your investing can derail your finances…

Fiduciary Best Practices: Why Investment Oversight is Important for 401(k) Committees

401(k), Business Owners

Selecting and monitoring investment options for your company’s retirement plan is just one part of your fiduciary responsibility. How do you evaluate, benchmark and assess your plan and what other expertise or protection should you consider? An investment committee has a lot of responsibilities, including selecting and monitoring the investment options for the retirement plan; but there are plenty of resources available to help make informed decisions. By being proactive and educated on these topics, you can reduce the risk of lawsuits related to excessive fees or violations of ERISA. In recent years, class action lawsuits have been filed against…

How Much Are You Ready to Lose from Your Insurance Policy?

Financial Wellness, Podcast

It can be quite tempting to pick a fast and inexpensive car or home insurance provider online and call it a day…but what are the risks? We discuss what your car or home insurance should cover so it doesn't cost you down the line and end up being an expensive mistake. Shayna Carnevale from Comparion Insurance joins us to shed light on what makes up safe and legitimate auto and homeowner’s insurance. Tune into this episode to also learn: What your car and home insurance should cover What you might misunderstand about car and home insurance policies Why not…

Why Plan Fiduciaries Need to Pay Careful Attention to Retirement Plan Fees

Business Owners, Investments

Ready to find out if you are paying reasonable fees with your 401(k)? Fill out our contact form to request your free plan benchmarking report. Competitive benchmarking is a way to measure and compare fees associated with running your retirement plan. Explore the most frequently asked questions about plan costs and benchmarking. Retirement plan fees can take many different forms, making it difficult to determine whether they're reasonable. In this article, we'll discuss why fiduciaries need to pay careful attention to fees and how benchmarking can help you make informed decisions. We'll also explore some of the most frequently asked…

5 Things You Need to Know About Secure Act 2.0

401(k), Investments, Podcast

You’re probably not going to read the Secure Act 2.0’s ~100 provisions, so we’re telling you the top 5 things you need to know about it, even if you’re not retiring. The act is being phased into implementation from 2023 - 2033. We’ll let you know the key dates you need to keep in mind. Tune into this episode to also learn: How the Secure Act 2.0 will affect you When key aspects of the Secure Act 2.0 will go into effect What you need to know if you aren’t retiring soon WHAT WE DISCUSSED (00:31) Secure Act 2.0: what…

Defining Workplace Goals is a Vital First Step to an Effective Retirement Plan

401(k), Business Owners

Retirement plans can be as unique as your company and its employees. Yet many committees do not take the time to set specific goals for their plans. Without defined goals, it can be difficult to create an effective retirement plan that meets expectations. Here’s helpful guidance about defining your plan goals and offering this benefit which helps everyone save toward retirement success. Each time you discuss the company’s 401(k) plan, it is an opportunity to identify goals and align plan design. Aligning plan goals with specific features has the potential to improve outcomes. Plan considerations might include who is eligible,…

SECURE Act 2.0 – What Employers Need to Know

401(k), Business Owners

After a lot of excitement, Congress finally passed the Consolidated Appropriations Act, which included several new retirement plan legislations. The SECURE 2.0 and other provisions strive to expand access to retirement plans, increase retirement savings, help American’s preserve income and streamline retirement plan rules. With over 92 different retirement plan provisions, we want to make it easier for employers, fiduciaries and administrators to digest. In this summary, we focus on the most common sections that are most applicable in your leadership position. Let's work together to secure a bright future. Effective Immediately | 2023 Roth Employer Contributions Employers may now…