“The only reason I made a commercial for American Express was to pay for my American Express bill.”
– Peter Ustinovou
Welcome to the December Edition of Ryan’s Retirement Ramblings – The monthly newsletter that will bring you the latest developments from the qualified plan space & provide updates for the retirement team at Wheeler Retirement Plans.
On A Personal Note…
This time of year can be a roller coaster of emotions; joyous, stressful, anxious, etc. Our family at Wheeler Retirement Plans want to wish you a safe and wonderful Holiday Season! Before we know it, the calendar will turn to 2025. We can’t predict the future any better than Cousin Eddie empties his sewer. However, we can’t wait to experience the New Year with each of you.
What Retirement Planning Isn’t
Americans believe they need nearly $1.5 million to retire comfortably, a number that has soared by more than 50% since 2020, according to Northwestern Mutual’s 2024 Planning & Progress Study. Yet the Employee Benefit Research Institute reports that only about half of workers have actually calculated their retirement needs. Employees can easily latch onto media-hyped, generalized one-size-fits-all numbers without a clear understanding of whether those figures align with their personal financial circumstances….
What the DOL’s Guidance on AI Means for Plan Sponsors
The U.S. Department of Labor (DOL) recently released voluntary guidance emphasizing the importance of ethical and transparent use of artificial intelligence (AI) in the workplace. Titled Artificial Intelligence and Worker Well-being: Principles and Best Practices for Developers and Employers, the document provides a roadmap aimed at helping ensure AI improves job quality while protecting workers’ rights and welfare….
New 401K Rules: Balancing Access and Savings
When considering short-term funding options, participants are often advised to avoid tapping into their 401(k) accounts through loans or hardship withdrawals, as early withdrawals can impede long-term retirement savings. However, the SECURE 2.0 Act of 2022 has introduced more penalty-free emergency withdrawal provisions, offering increased liquidity and flexibility within 401(k) plans. While some see this as a risk to retirement balances, a recent Vanguard study found that participant contribution rates tend to remain stable before and after taking loans or hardship withdrawals….
Mr. C’s Movie Review
I know what you are thinking, a X-Mas movie review….is Ryan OK? Every once and a while, I like to watch a movie that matches the time of year. Granted last year, it was a slaughterhouse film with a killer Santa but I think you get the point. Red One is in a word…..FUN. The film is full of Holiday Easter Eggs and no, it will not win an Oscar but I smiled the entire way through the film. The Holiday Spirit must have been invoked to land a cast as credible as the Red One.
When a master villain, Gryla (ssshhh, Kiernan Shipka), with an army of what else, Snowmen, kidnaps Santa Claus (a savvy J.K. Simmons), it’s time for the world’s best tracker and famous Christmas Skeptic (a hilarious Chris Evans taking a break from saving the world as Captain America) and an E.L.F. – Extremely Large & Formidable (played with commitment to the holidays by Dewayne “The Rock” Johnson”) to rescue the Jolly One for GO TIME…Christmas Eve. The Heroes travel across the globe through Toy Store Supply Closets…of course.
For the world historians, the story is inventive combining characters from Icelandic, Alpine and Norse traditions. We all remember Krampus of course? The ending felt a little rushed but its the perfect X-Mas break movie to watch on the couch.
On a scale of: “Like It”, “Love It”, or “Gotta Have It”; it’s a “Like It” for me. I wouldn’t rush out to the Theaters to see this movie but curling up on the couch to watch the Rock punch a Snowman in his man parts is just down right funny. I commend the cast for “gifting” the audience with their presence in the film as clearly this was a favor to the director. The movie tows the line between a family holiday movie with snarky adult dialogue that caters to a more mature audience. Sit back and enjoy the X-Mas magic, I mean the Red One gives us an inside look on how one man is able to visit every house on Christmas Eve…seems like a lot for one guy; WHO CARES.