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More employers are offering HSA to help employees set money aside for healthcare costs in retirement
Both employers and employees are embracing Health Savings Accounts (HSAs) as a valuable benefit when it comes to managing anticipated healthcare costs for retirement. According to the latest figures from Fidelity, a 65-year old retired married couple in America should…
Why you should never use your 401(k) to pay off debt
Due to rising health care and higher education costs, the decline of pensions and stagnant salaries have all contributed to the number of people 65 and older who have filed for bankruptcy. Americans’ lack of retirement savings is putting them…
How to decide if remote work in retirement is right for you
Working remotely is become an increasingly popular work style and will soon become the new norm. In today’s workplace, it is very common to have full time work from home employees and even have regular office employees work from home…
Income goes only so far in determining how much a person has saved for retirement
According to a new study by economists at the Schwartz Center for Economic Policy Analysis at the New School for Social Research, income goes only so far in determining how much a person has saved for retirement but the balance…
Delayed enrollment penalty for Medicare Part D comes with a sticker shock
In Mary Beth Franklin’s column, she answers a financial adviser’s question on how to avoid paying a delayed enrollment penalty for their new Medicare Part D prescription drug plan client that never carried any drug coverage before. She explains how…
Student loan repayment support could become the new 401(k), but it comes with a catch
Employers are trying to make a dent in America’s $1.5 trillion student loan problem by offering to contribute to their worker’s student loans. Empower Retirement, one of the nation’s largest 401(k) managers, is introducing a suite of programs employers can…
Redefining retirement
The “Greatest Generation” bolstered by fixed, defined-benefit pensions and Medicare, often had the luxury of leaving the workforce with a decent nest egg. However, things have changed for Americans over the past few decades; the forced saving of defined pensions…
Sometimes, you do get a second chance
The decisions you make regarding Social Security will have a huge impact on your retirement, so claiming benefits strategically is a wise idea. So, what happens when you make a mistake? There are in fact three Social Security mistakes you…
The one cost that worries people the most: Healthcare expenses
According to a recent report from financial institution Primerica, it found 69 percent of middle-income Americans are concerned that they won’t be able to afford to pay for a major medical expense. Surprising, that’s more than 43 percent who are…
Social Security: Instant reward versus regret
Money and rationality don’t always mix and that is especially true with retirement. One way to address the fears and anxiety that may interfere with rational decision-making to apply insights from behavioral finance experts. The attached article outlines four decisions…