Griffin Financial Advisors, LLC

In today’s investment environment, an investor can choose from numerous products. Mainly, you are just choosing to invest in stocks, bonds, and cash.  As you begin your investment selection process, you start by filtering through all the investment products available.  Once you do, chances are you will run across what is called a “target date fund”.  Target date funds are most common in 401(k) retirement plans and you probably have them in your company's plan.  So, what exactly is a target date fund and how is it different from other investment products? At its core, a target date fund, is a mutual fund that strives to grow assets over a specific period of time. The goal of a target date fund is very similar to other mutual funds; however, they differ by taking into consideration your desired retirement age.  This is why target date funds have commonly been referred to as “age based” funds.  As an individual gets closer...

Every year, many people make resolutions they want to follow throughout the year. For 2018, I know you can guess which three resolutions were the most popular.   According to Statista, 37% of people ranked eating healthier, getting more exercise and saving more money as the most common resolutions. Meanwhile, 32% of respondents stated they will not make any new year’s resolution ( Statista ). The biggest problem with a resolution is how difficult it is to stick to it! Here are a few ways you can keep your finances in line and a note on how to accomplish them.   Pay Down Credit Card Debt If you went a little overboard with holiday shopping or had a major expense such as replacing your furnace this winter, your credit card may be close to its limit.   Regardless, paying down or eliminating credit card debt can be intimidating and frustrating. Especially if it is a large amount. According to Nerdwallet, the average household carries a credit card balance close to ...

The definition of a rollover is when money is moved from one type of retirement account to a different type of retirement account. The two options available to you are a direct or indirect rollover. But what are the differences between these? A direct rollover is simpler than an indirect rollover since it has no tax implications from the IRS. It should be as easy as filling out the correct paperwork to get the money transferred into the new account.   An i ndirect rollover is a little more complicated since it might have tax implications from the IRS. Through an indirect rollover, the administrator of your retirement account will cash out your account and send you a check. The check will withhold either 10% or 20% depending on the type of retirement account you participated in. This example will provide a better understanding of both choices. Let’s say you terminate your employment with Company A and start a new job with Company B. You had a 401(k) with Company A and...