Parents of a child with special needs know that when it comes to their day-to-day activities, nothing comes easy. Caring for a child with a disability can add complexity to even the most simplistic everyday tasks that are often taken for granted. Tasks such as feeding, grooming, toileting and bedtime routines can be extremely challenging and time consuming. Late nights and early mornings are typical. If your child suffers from a potentially lifelong disability, that means not only do they need help today, but they will potentially need ongoing assistance with these activities for life. Parents like to think that they will be able to help their children forever, but in reality that’s just not the case. (more…)
Bryan Pritchard
A native of New Jersey, Bryan is a diehard sports fan and loves competition. At National Life Group he is an advanced sales consultant where he helps business owners tackle their planning challenges and address their needs.
Born to play devil’s advocate, Bryan enjoys looking at things from different perspectives which allows him to gain a better understanding of the whole picture.
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The Benefits of Life Insurance in a Qualified Plan
Within a qualified retirement plan, such as a profit sharing plan, defined benefit or defined contribution plan (think 401(k)), there are a variety of options in terms of where you can “put” your money, but there is one well-kept secret that very few business owners take advantage of: the ability to offer life insurance inside of a qualified plan. Some types of plans are designed specifically to allow life insurance, while the ability to include life insurance in other plans, especially those already in place, will depend on the plan document. When it is allowed, using qualified plan dollars to purchase life insurance is a strategy that can satisfy a variety of needs for a variety of people.
401(k) Contribution limits for 2016
Financial planning is meant to be a year-round activity, but it often gets lost in the everyday shuffle. Like most, my financial planning has historically been done last minute. Once I see the leaves falling off trees and the outside temp starts to drop (or plummet if you’re in Vermont like me), I get the hint that winter is on its way and that means tax season is fast approaching. I always contribute as much as I can to the various retirement accounts that allow me to defer taxation. Every year the IRS mandated 401(k) contribution limits can change, so it’s important to know these limits. (more…)
2016 Retirement Contribution Limits for Business Owners
As a business owner, you’ve spent the last 11 months of the year busting your butt trying to take your business to the next level. Or, perhaps you take after serial entrepreneur Jay-Z, “I’m not a business man, I’m a business, man!” Regardless of whether you’re a newly established company just getting off the ground or a stable well established business, sound year-end planning may be able to save you a substantial amount on your taxes. With the New Year fast approaching, it’s time to crack open your books and start your year-end planning because while the most wonderful time of the year is upon us, it’s back to reality with tax season soon following. (more…)
