WINSTON PAUL CAPITAL MANAGEMENT, INC.

Considering transitioning to a four-day workweek for next year? 🤔 Here are some pros and cons to consider before making a decision: Pros: 💰 Decreased overhead costs 🏃♀️ Increased productivity and efficiency 😃 Happier employees with more downtime Cons: 📅 Scheduling issues for meetings and availability 😴 Potential burnout for some employees (fewer hours to complete tasks) 👎 Decreased customer satisfaction due to non-traditional business hours What are your thoughts on a four-day workweek? Comment below! 💬

As Thanksgiving approaches, our financial advisors are gearing up for the holiday festivities, from watching the parade to indulging in some delicious turkey. But we also know this time of year brings a flurry of financial questions from family members! With this in mind, we've put together answers to some of the most common queries we get asked during the holidays. Swipe through to learn more. Need personalized financial advice? Reach out to our team anytime. We're here to help you navigate your financial journey.

Many businesses believe that low initial participation means a 401(k) isn't valued by employees. However, low enrollment is often due to a lack of understanding about how these plans work and their benefits. By providing educational resources and regular information sessions, your business can significantly boost participation rates. Looking to encourage higher participation in your 401(k) plan? Connect with our team to explore how effective education and encouragement can transform your 401(k) participation rates.

There's a common misconception that young employees aren't interested in 401(k) plans. However, studies show that millennials and Gen Z are very invested in starting their retirement savings early. A large portion of this generation appreciates employers who support their long-term financial goals, seeing it as a critical part of their benefits package. Offering a 401(k) can be a crucial factor in attracting and retaining ambitious, forward-thinking talent. If your company would like to discuss your options, reach out to discuss setting up a 401(k) plan that not only secures employees’ future but also boosts your attractiveness as an employer!

Many small business owners hesitate to offer a 401(k) plan, believing it to be prohibitively expensive and complex. However, tax incentives can offset setup and administrative costs, making it a win-win for employers and employees alike. And as for the complexity? That’s where we can help 🤝 Not only does offering a 401(k) help in attracting top talent, but it also boosts employee retention and satisfaction. Reach out to learn how easy and beneficial setting up a retirement plan can be for your small business!

As the holiday season approaches, we want to remind everyone about the importance of charitable giving and its tax benefits. Donations to qualified organizations must be made by December 31, 2024, to qualify for a deduction on your 2024 tax return. Here are some key points to keep in mind as you prepare your charitable giving: ✅Contributions must go to qualified charitable organizations. ✅Keep proper documentation for your tax records. ✅Be aware of deduction limits: generally, cash contributions up to 60% of your AGI and non-cash contributions up to 50% of your AGI. Thoughtful planning can maximize the impact of your donations while also providing tax benefits. If you have questions or need assistance with your charitable giving strategy, please reach out to our team. We're here to help!

Ensuring your employees feel confident about their retirement is key to maintaining a happy and productive workforce. Here are three important stats about 401(k) participation: 1️⃣ High Participation Rates: 401(k) plans hold $7.4 trillion in assets across more than 710,000 plans, benefiting about 70 million active participants, as well as millions of former employees and retirees. High participation rates indicate that employees value the retirement savings options provided by their employers. 2️⃣ Eligibility for Plans: In order to be eligible for an employer’s 401(k) plan, an employee must be at least 21 years of age and at least 1 year of service. 3️⃣ Private Industry Participation: In 2022, half of private industry employees participated in a retirement plan, with 48% of them participating in a defined contribution plan. Ensuring access to retirement plans in the private sector is crucial for employee financial security. By providing a robust 401(k) plan, you can help your employees build a secure future, leading to increased satisfaction and loyalty. Have questions or need assistance with your company’s 401(k) offering? Do not hesitate to respond to this email or give the office a call.

As a business owner, it's crucial to understand the costs associated with offering a 401(k) plan to your employees. Here are three key stats you should know: 1️⃣ Expense Ratio Range - The average expense ratio for 401(k) plans can vary widely, typically ranging between 0.5% and 2%. This fee impacts the overall performance of your employees' retirement savings and your company's budget. 2️⃣ Average All-In Fee - The all-in fee for 401(k) plans averages 2.22%, with a range of 0.2% to 5%. Understanding this range helps you choose a plan that balances cost and benefits for your business and employees. 3️⃣ Decreasing Costs - The total 401(k) investment cost dropped by an average of 0.03% from last year. Lower costs can mean better returns for your employees and savings for your company. Offering a competitive 401(k) plan with transparent fees can attract and retain top talent while ensuring a financially sound future for your employees. Have questions or need assistance with your company’s 401(k) offering? Do not hesitate to respond to this email or give the office a call.

The IRS has announced the 2025 contribution limits for retirement accounts. Here are FIVE 2025 changes that may impact you. 1. Your 2025 IRA limit will NOT increase and remains at $7,000 2. The 401(k) contribution limit will increase to $23,500, up from $23,000 in 2024 3. Those 50 and older, the catch-up contribution for 401(k) plans remains at $7,500 for a total contribution of $31,000 4. **NEW** for employees aged 60, 61, 62 and 63 who participate in 401(k) plans there now exists higher catch-up contribution limits; the 2025 limit for these ages is $11,250 instead of $7,500 for those over age 50 5. Lastly, income phase-out ranges for IRA deductions and Roth IRAs have also increased For further details, please give us a call.

Just a friendly reminder: you’ll soon get an extra hour of sleep when Daylight Saving Time ends. That’s right! We say goodbye to Daylight Saving Time on Sunday, November 3, 2024, at 2:00 a.m. Most devices, like smartphones and digital clocks, will adjust automatically. However, you may need to manually update the time settings on your vehicle’s clock, wall clocks, and certain household appliances. Enjoy the extra hour of sleep and the brighter mornings — and, as always, let us know if we can help you in any way.