St. Croix Advisors, LLC

The New Year is coming quickly. Before it arrives, check out these 10 financial planning ideas. Reach out to us. Let's discuss your financial goals for the New Year. #financialplanning #financialreview https://lnkd.in/gvj7KjqA

Big changes are coming to 401(k) plans in 2025, thanks to SECURE 2.0. From automatic enrollment to expanded eligibility for part-time employees, here's what you need to know to prepare for the new rules. #RetirementPlanning #401k https://lnkd.in/g4exHRvp

Do you have an adult child still on your health insurance? You may be missing out on a key financial planning strategy—leveraging the tax advantages of HSAs and Roth IRAs. Learn more in our most recent article. https://lnkd.in/gazjk56H #HSAs #RothIRAs #taxplanning

Want to save more than the 401(k) limit? The Mega-Backdoor Roth strategy could help you contribute up to $70,000 tax-free. Learn more in our most recent article. https://lnkd.in/gBwCsBUD #retirement #roth #401k

Election Day is over and we can finally stop seeing political commercials every 10 seconds. But with a new administration taking shape in our nation’s capital, big tax changes could be in store for 2025. Take a look at these 10 year-end financial strategies to consider. https://lnkd.in/g63ePRJM #YearEndPlanning #TaxStrategy #WealthManagement #FinancialAdvisor

Did you hear the IRS has made changes to retirement contributions? Here are some key takeaways: - Increased 401(k) Limits: In 2025, the 401(k) contribution limit rises to $23,500 (up $500 from 2024). - Catch-up Contributions: Taxpayers 50+ can still contribute an additional $7,500. - New “Super Catch-Up” for Ages 60-63: 401(k) participants in this age range can contribute an extra $11,250 under SECURE 2.0 rules starting in 2025.4 https://lnkd.in/e6_dkm8S

People who bought long-term care policies decades ago face a wrenching dilemma: Pay much higher premiums or brace for crippling bills to cover their care in old age. This article covers the expensive issue of long-term care planning. In case you don't have access to this Barron's article, here are four key takeaways: 1. Premium Hikes and Tough Choices: Many long-term care (LTC) insurance policyholders face sharp premium hikes, with increases of over 100% in some cases, which force them to choose between paying higher premiums or reducing their coverage and benefits. 2. Flaws in Initial Pricing Models: Insurers initially underpriced LTC policies due to flawed assumptions about policyholder retention, claim rates, and the severity of claims, which led to significant financial strain and massive premium increases. 3. Regulatory and Industry Oversights: State regulators and organizations like AARP played a role in the crisis. Regulators were slow to approve necessary premium adjustments, and organizations marketed policies without clearly disclosing their limitations and potential risks to consumers. 4. Shift to Hybrid and New Funding Solutions: Insurers are now pivoting to hybrid LTC insurance options that combine life insurance with LTC benefits, and some states, like Washington, have introduced payroll taxes to help fund basic LTC coverage. These approaches aim to provide more sustainable options for future LTC needs. #longtermcareawareness https://lnkd.in/gz7wgvnq

Born in 1959? You might have two Required Minimum Distribution ages! The SECURE 2.0 Act left a little confusion for those born in '59. Contact us if you have questions about your RMDs. #retirementplanning #rmds https://lnkd.in/gtsVBjZr

Not having enough money to retire comfortably is one of the scariest stories there is! Get must-know tips to avoid a financial fright in our latest blog: https://lnkd.in/gcDJaYUR #savingforretirement #retirementplanning