What is a Pension? Do You Have One?

November 6, 2023

The phrase “pension benefits” has come up a lot in recent weeks, especially during the negotiations between the United Auto Workers union and the “big three” automotive manufacturers, narrowly avoiding a strike.  But for the majority of private-sector U.S. workers, pensions seem to have disappeared a long time ago. Pensions have been phased out, but we do still have employer-issued plans such as 401(k)s. There continues to be confusion about the differences between 401(k) plans and pensions. No, they aren’t the same thing, and here’s the big difference:  With a traditional pension, the employer is the one responsible for funding

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Saving Vs. Spending

July 28, 2021

This week’s article asks the question, “When do you stop saving and start enjoying the fruits of your labor?” We could help you understand at what age you can start to transition from saver to spender. It could mean the difference between: A retirement of constant penny-pinching and being stuck in saving mode. A retirement that includes vacations, seeing your friends & family, and allowing yourself to ENJOY your retirement full of valuable experiences. The article explains, “You’ve done all the right things—financially speaking, at least—in saving for retirement. You started saving early to take advantage of the power of

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can a minor participate in a 401k

Can a minor participate in a 401k

April 15, 2021

Are you a small business owner? You may find this interesting. According to this week’s article, “the 401(k) has become the go-to retirement plan for many Americans.” In fact, the article goes on to say that the “flexibility, tax savings and scale of 401(k) plans” have made them “attractive to employers”, as well as employees. However, there is a common misconception about 401(k)s. Namely, people think that you have to be at least 21 years old to have one. However, nothing in the federal law precludes setting a plan’s minimum age to be under 21. These choices are ultimately up to

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retirement accounts

Retirement Accounts

March 17, 2021

With deadlines for filing tax returns approaching we are beginning to remind people that the deadline for making their permitted annual deposits into their retirement accounts is also approaching. Even if you have a Roth IRA you may want to consider the different options you have to both accumulate wealth for retirement, or if you are already retired and taking income from your savings, to obtain growth potential without being vulnerable to major long-term downturns in the market. Call us, we’re happy to explain some choices you have and discuss how they may fit into whatever stage of retirement planning

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Saving for retirement

A Simple cure for that risk

March 3, 2021

This week’s article tells us “experts want you to start saving as soon as possible, no matter what amount you can afford to put away.” The first goal is to simply get into the habit of saving for the future because the future comes sooner than you think, and “the second is to take advantage of as many compounding returns as you can: The longer your money is invested in the market—even if it’s a smaller amount—the longer it has to grow and generate increasingly larger returns.” The article also tells us “this turns most of us into market watchers.

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Robert S Messina, an Investment Advisory Representative (IAR), offers advisory services through Gibbs Wealth Management, an SEC registered investment advisor. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements.Financial Insurance Solutions Inc. and  Gibbs Wealth Management are independent of each other. Insurance products and services are not offered through GWM but are offered and sold independently by,  FRG Insurance Solutions Inc, CA Insurance Agency #OK21118, and Robert S. Messina, CA Insurance License #0E88665.

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