Financial Planning
U.S. Healthcare Costs
From a cost perspective, the U.S. health care system has been out of control for several years.
A recent study from the Kaiser Foundation found that nearly all developed countries have some kind of universal healthcare and, overall, their taxpayers pay lower prices for procedures and medication. The study discovered that the typical American spends over […]
You Travel A Lot? Consider These Health Risks.
Individuals who spend a lot of time on airplanes for work probably realize that type of lifestyle may not be beneficial to your health. Irregular sleep patterns, stress, unhealthy eating and drinking, and not enough exercise can lead to increased health risks.
A current analysis of electronic medical data on thousands of U.S. workers suggests […]
New Considerations for Couples Going through a Divorce
Individuals thinking about divorce should be incorporating new tax rules in their plans. The recently enacted tax law impacts the taxation of alimony as well as the valuation of assets that are common in a divorce decree.
The biggest change, starting January 1, 2019, is that alimony will not be tax-deductible by the payor spouse and […]
Should I Enroll in a Health Savings Account?
Health savings account (HSA) is a tax-advantaged account that you can establish and contribute to if you are enrolled in a high-deductible health plan (HDHP). Because you shoulder a greater portion of your health-care costs, you’ll usually pay a much lower premium for an HDHP than you would pay for traditional health insurance. This allows […]
What Are the New Rules for 401(k) Hardship Withdrawals?
The Bipartisan Budget Act passed in early 2018 relaxed some of the rules governing hardship withdrawals from 401(k) s and similar plans. Not all plans offer hardship withdrawals, but the ones that do will be required to comply for plan years beginning in 2019.
In order to take a hardship withdrawal from a 401(k) or similar […]
What to Consider before Moving in with Your Partner
You and your significant other are ready to take the next big step in your relationship: moving in together. While this is an exciting milestone, it’s also one that should prompt you and your partner to have some serious conversations about the financial implications of the move. Here are a few questions to consider that […]
Sustainability of Medicare and Social Security
Many were rightfully concerned when the Trustees’ of the Medicare and Social Security Trust Funds released their report indicating that Medicare would go bankrupt in 2026 (three years earlier than the prior projection). Social Security goes bankrupt in 2034 – although it is unchanged from prior estimates.
These challenges are not new. […]
Obsessed With Mobile Devices?
Have you ever thought how frequently a typical individual interacts with their mobile device? According to research from Dscout, Inc., the ordinary individual taps, pokes, pinch their device an astounding 2,617 times everyday. In total, it is about two hours and 25 minutes per day.
In 2016, CareerBuilder did a poll of over […]
Building Confidence in Your Strategy for Retirement
Each year, the Employee Benefit Research Institute (EBRI) conducts its Retirement Confidence Survey to assess both worker and retiree confidence in financial aspects of retirement. In 2018, as in years past, retirees expressed a higher level of confidence than today’s workers (perhaps because “retirement” is less of an abstract concept to those actually living it). […]
Tax Benefits of Homeownership After Tax Reform
Buying a home can be a major expenditure. Fortunately federal tax benefits are still available, even after recent tax reform legislation, to help make homeownership more affordable. There may also be tax benefits under state law.
Mortgage interest deduction
One of the most important tax benefits of owning a home is that you may be able to […]
