By Ed McClure, CFP® Emotions are like a roller coaster. Our financial ups and downs can send us on an emotional ride—but should they really be in the driver’s seat? Try as we might, it’s tough to keep emotions out of our financial view. Why? Our money habits are set early in life. Take someon...
Earning Interest on Interest: Unlocking the Power of Compound Interest
By Ed McClure, CFP® If you’ve spent any length of time learning about finances, you’ve likely come across the buzz about the power of compound interest, and may be wondering if this investment strategy is right for you. Well, the answer is a resounding yes! Investing money in an account with co...
23 Ways to Increase Your 401(k) Plan (or 403(b) Plan) Participation Rates
By Ed McClure, CFP® Plan sponsors are continually seeking ways to increase participation in their defined contribution retirement plans, whether they are businesses with 401(k)s or non-profits offering 403(b) plans. You want to help your employees plan for a stable future; and in the case of 401(k)...
Get Covered: Insurance at Every Life Stage
By Ed McClure, CFP® We’re all aware of the importance of insurance and how it offers protection. And we all have different types for different needs: home, auto, health, life, and more. But did you realize that different life stages call for different levels of coverage? Read the following guide ...
The Top Mistakes Plan Sponsors Make: Part 2
By Ed McClure, CFP®, PPC® Back in 2021, the Employee Benefits Security Administration (EBSA) acquired $1.9 billion in qualified retirement plan violations and other enforcement actions. This means that staying current on plan requirements and preventing costly mistakes is more crucial now than eve...
Don’t Let 2024 Catch You Unprepared: Review Your Financial Plan
By Ed McClure, CFP®, PPC® As the countdown to 2024 begins, are your finances in order, or are you unprepared? At McClure Wealth, we know that solid financial well-being doesn’t just happen overnight. It takes hard work, diligence, and consistency to improve your finances, strengthen your savings...
The Biggest Mistakes I See Plan Sponsors Make: Part 1
By Ed McClure, CFP®, PPC® While sponsoring a workplace retirement plan is a worthy endeavor, it also requires vigilant oversight. Plan sponsors must grapple with many challenges, including adhering to ERISA regulations, discerning fiduciary responsibilities, and staying on top of constantly evol...
Is Debt Ever Healthy? How to Tell the Difference Between Good and Bad Debt
By Ed McClure, CFP®, PPC® While the word “debt” often carries a negative meaning, don’t be misled by its reputation. Undoubtedly, there are risks to taking on debt, but looking at the flip side may reveal a powerful tool for advancing toward your goals. At its core, debt is an obligation to ...
Plan Sponsors, Don’t Neglect Your Plan Fees Review
By Ed McClure, CFP®, PPC® As they pass by, the years tend to blend together, which can make it challenging to remember specific details. What we remember happening in 2016 could very well have occurred in 2018 or 2019. Even significant events in our lives can sometimes become hazy over time. Keepi...
With the Passage of SECURE 2.0, Is Your Plan Still the Best?
By Ed McClure, CFP®, PPC® It’s no secret that planning for retirement is a challenge for just about everyone. It can be especially difficult for employers sponsoring a retirement plan in light of ongoing legislative changes such as SECURE 2.0. With over 90 potential plan provisions and effective...