Articles

Bruce Smith

Bruce Smith is the Director of Retirement Plans and works directly with our 401(k) trustees and participants. Bruce is also the CFO and Chief Compliance Officer at Premier.
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Recent Posts

Should Speculating be Part of Your Strategic Financial Plan?

By Bruce Smith | November 05, 2018

To invest or speculate - that is the question.

Though the two terms may sound alike on the surface, they're actually two quite different things -- and, in our opinion, one should not be part of your strategic financial plan. 

Investing vs. Speculating: Viable Wealth Strategies?

The difference between speculation and strategic investing can be night and day.  The way Premier approaches portfolio management, investing is a long-term

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Robo-Advisors vs Real-Life Wealth Advisors: How to Choose?

By Bruce Smith | October 24, 2018

At Premier Financial Group, we understand that investors have many choices when it comes to selecting the right financial advisor for their needs. In recent years, the choices available to investors have increased with the advent of the so-called robo-advisors. 

Just as the travel industry has changed -- thanks to the proliferation of do-it-yourself online booking sites -- and traditional bank teller duties have been taken over by automated tellers, the financial services industry is changing, as well. Robo-advisors, or investment firms that offer

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Retirement Plan Advisors Reveal 7 Retirement Trends

By Bruce Smith | October 06, 2018

While playing nine holes of golf with a friend the other day, the conversation turned to retirement and, specifically, what retirement looks like now as opposed to when our parents retired. Much has changed in the last generation or two; pensions have largely disappeared, the future of Social Security is a matter of debate and the costs of healthcare seem to just keep rising.

However, the news isn't all bad! Along with an increased life expectancy for most Americans, physical activity is on the rise

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Retirement Plan Advisors' Key to Retirement: Patience

By Bruce Smith | September 30, 2018

The other day, I was enjoying a game of golf with a friend who happens to be a long-time retirement plan advisor. As it often does, the conversation turned to retirement; specifically, where the key to a happy, comfortable retirement really lies.

My golf buddy's answer? It's probably not what you think.

My friend believes that the secret ingredient to a successful retirement lies in patience -- and the secret to patience lies in the ability to delay gratification, which, needless to say, isn't exactly a hard-wired human trait. 

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Why Diversify? Improve your Wealth Management Strategies

By Bruce Smith | September 12, 2018

Long before the days of investment management solutions, financial derivatives and modern portfolio theory, Sancho Panza -- Don Quixote's sidekick – wisely noted, “It is the part of a wise man to keep himself today for tomorrow and not to venture all his eggs in one basket.” Of course, Don didn’t take this sage advice – but you should.

Our clients often ask us how to diversify; while they understand the basic importance of not putting all of those eggs in the same basket, they’re just not sure how to go about it in the most effective manner. Here’s how to avoid diversification pitfalls and create a blueprint to evaluate your own portfolio.

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Ask a 401(k) Advisor: 7 Keys to 401(k) Success - Part 1

By Bruce Smith | July 20, 2018

Often people ask our retirement plan advisors: "What is the best way to invest in my 401(k)?"

While many companies provide 401(k)s as a benefit to their employees, the frequency that we hear this question is alarming. This question underscores that many 401(k) participants haven't had enough education from their 401(k) plan providers to know how to fully participate - but the stakes couldn't be higher. Once you have worked through your higher income years and reached retirement you will not get a 2nd chance. Either you will have prepared properly - or not. In our opinion, however,

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Should Your Small Business Offer 401(k) Retirement Plans?

By Bruce Smith | July 02, 2018

As pensions go extinct, more Americans turn to individual retirement accounts to prepare for their golden years. One of the most popular is the 401(k), an employer-sponsored plan that allows workers to save a percentage of pre-tax dollars from paychecks. 

As of 2014, 401(k) plans were the most popular type of retirement savings, representing about 18 percent of the retirement plan holdings in the U.S., according to the ICI.  But while 89 percent of workers at large companies (500+ employees) have access to employer-sponsored 401(k) plans, only 45 percent of businesses with <100 employees offer 401(k) plans, and only 16 percent of business with <10 employees offer 401(k)s. Overall, that translates into only about half of Americans with access to workplace retirement plans.

Here's how small businesses can benefit from offering 401(k) plans to their employees. 

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Retirement Plan Advisors Share 9 Ways to Save

By Bruce Smith | May 27, 2018

If you're like most Americans, you know you need to save more for retirement... but you may not be sure exactly how to go about it. It's a common issue; in fact, a study from the National Institute on Retirement Security found that the median retirement account balance for all households of working age is just $3,000. Of these, 45 percent don't have any retirement savings at all.

Regardless of where your own retirement readiness may fall on the spectrum, you can still reap the benefits by shoring up your nest egg and bulking up your retirement savings efforts. 

Here are 10 ways to give your nest egg a boost.

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Aggressive Financial Advisors vs Passive Investors: Who Wins?

By Bruce Smith | April 15, 2018

Our clients often have questions about the success rates of "Aggressive" versus "Passive" investing. Some investors feel that those who use the services of a highly active investment firm tend to earn higher returns. Is this true?

We certainly understand these questions; after all, the debate between proponents of active and passive investment strategies has been ongoing for almost half a century. But decades of empirical evidence support our firm's conviction that aggressive, active-management strategies employed by many investment professionals don’t work for most investors. Here’s why. 

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401(k) Advisors Share 9 Ways to Shore Up Your Retirement

By Bruce Smith | April 03, 2018

Is your 401(k) in good shape? Is it properly allocated? Does your plan mitigate your tax burden? Do you have the right blend of growth and income?

For many investors, a 401(k) retirement plan is easy to simply set and forget. It's not difficult to see why; managing a 401(k) plan with the proper knowledge or time can be intimidating. However, your retirement depends on this important account's performance, so it's important to maximize your 401(k)'s potential for returns. 

Read on to discover 9 ways to strengthen your 401(k).

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