The Human Resources representative asked you to review a stack of paperwork before your new employee benefit orientation meeting. Understanding that this is your first of what research indicates will be about twelve jobs, you figure now would be a good time to learn what you can about Group Life Insurance. Group Life Insurance is a term life insurance benefit provided by your employer at no cost to you. The employer is the policy owner...
Started in 1996, 529 plans provide tax incentives for those saving for post-secondary education. The plan allows funds saved to be used at any eligible education institution, which typically includes colleges, universities, vocational schools or any post-secondary educational institute that is currently eligible to participate in U.S. Department of Education student aid programs. Operating much like at 401(k) or IRA, funds deposited into a 529 plan are not taxed, either by the federal government or...
The rising popularity of robo-advisors has some in the industry wondering whether this is the beginning of the end for financial advisors. In reality, robo-advisors have been able to do something that traditional financial advisors have not; get those with limited resources to begin creating a portfolio of investments. Experienced financial planners typically don’t accept clients with less than $200,000 or (much) more in their portfolio. On the other hand, some robo-advisors are accessible with...
Health insurance used to be a fairly simple process. But today, whether obtaining health insurance privately or through an employer, we’re being offered a variety of insurance plans with varying benefit levels, making the choice more difficult. Before you enroll in another health insurance plan, here are some common terms you need to know – and understand: Co-Insurance – Co-insurance is the amount that you are responsible for out-of-pocket. Most plans have levels such as...
There were 43 million renters in the U.S. in 2017, the highest number of renters in the last 50 years. Yet according to the Insurance Information Institute, only 37 percent of those currently renting have renters insurance, leaving 27.1 million renters without protection should catastrophe strike. It’s important for renters to understand that while their landlord’s homeowner’s policy would cover structural damages to an apartment or home, it will not protect the renter’s personal belongings...
Television today is bombarded with a variety of real estate programs. House hunting, home renovation, home flipping, these programs have stimulated the interest of many individuals to start investing in real estate for themselves. While many first-time investors lean towards purchasing single-family homes, others may not want to become landlords overnight. If you’re looking to invest in real estate but have no desire to screen applicants, handle leaky faucets or broken appliances, or any other...
When looking for an investment, many people are turning to real estate. There are a variety of ways to invest in real estate, though one of the most popular ways to invest is by purchasing income-producing property. This can be done through the purchase of multi-family apartments, commercial/retail property, or single-family homes. Single family homes offers an excellent entry point into real estate investing, requiring minimal funds up front, while providing a nice revenue stream...
If you’re approaching retirement age, you may be considering a move to a more retirement-friendly state, particularly if your current state of residence imposes numerous taxes on social security, pensions, and other retirement income. While making the decision to relocate is not something that can be done lightly, there are a variety of options available nationwide that may allow you to retain more of your retirement income. Of course, taxes alone are not the only...
As a single woman, you may be faced with some unique challenges when planning for retirement. Here's what you should consider.
We all remember savings bonds. Once a popular gift for young children, parents could secure the bonds knowing that they could cash them out in the future. At that time, savings bonds were typically purchased through an employer or a local financial institution. What made them particularly appealing was the ability to purchase a $50.00 savings bond for $25.00. The idea was to hold onto the bond until maturity, where the bond could be redeemed...
While no one expects to become disabled, 1 in 4 Americans do so prior to retirement age. An accident, an unforeseen medical event, a catastrophic injury can all lead to temporary or permanent disability. So, what happens when you suddenly find yourself unable to work? Most people turn to Social Security Disability. Unfortunately, the Social Security Administration offers limited disability benefits that are notoriously difficult to obtain. Difficulty aside, if you are lucky enough to...
If you’re five to 10 years away from retirement, it’s time to start getting specific about your plans after exiting your career.
