Monthly Archives August 2016

4 Reasons to Utilize a Health Savings Account

Over a decade ago, health savings accounts were introduced as a convenient method to help American workers save money for out-of-pocket medical expenses (those not covered by insurance, such as co-pays and deductibles). And yet, only about 20 percent of people who are eligible to open and fund a health savings account have actually done so. You might be unfamiliar with how these accounts work, or unsure of whether a HSA can actually benefit you. If you’re thinking about retirement, take note: According to the Employee Benefits Research Institute, older workers should pay particular attention to health savings accounts. An
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Ready to Retire? Ask Yourself These Four Questions

You’ve been planning your retirement for years now, and finally the big day is close at hand. But as you approach the home stretch of your career marathon, it’s important to take the time to fully assess your retirement readiness. No matter how carefully you’ve followed through with your plans, things can always change at the last minute. Ask yourself these four questions before you take the life-changing leap into retirement. Am I ready to give up my career? We all have bad days, and on those bad days it is tempting to walk away from our careers. But on
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Will You Be Able to Retire On Time?

Around age 45 or so, most people move retirement from a back-burner goal to front-burner activity. You begin to realize that retirement is not just a vague event that will happen “someday”, but something that is inevitably going to happen. And you’ve learned that time often passes very quickly, so you need to prepare for retirement now. Despite the feeling of a pressing deadline, many people still feel unprepared for retirement. In fact, according to the Employee Benefit Research Institute, only 2 in 10 workers say they feel “very confident” about their future retirement years. The rest are not sure
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No COLA for Social Security Next Year?

If you’re like most retirees or pre-retirees, you anxiously await the Social Security Administration’s announcement on a cost of living adjustment (COLA) each fall. Once that adjustment takes effect for the following January’s benefit checks, those living on a fixed income breathe a sigh of relief as their income grows just a bit to help offset increasing costs of living. But that announcement doesn’t always arrive in the way we hope, as sometimes COLA is smaller than expected or isn’t issued at all. We hate to be the bearer of bad news, but in the interest of keeping you informed
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