Financial Planning
How to Recover from a Mid-Life Financial Crisis
A financial crisis can be scary at any age, but this is especially true when you’re in your 40s or 50s. Perhaps you’re way behind on saving for retirement or have too much debt from unnecessary spending. Or maybe an unexpected challenge, such as a job loss, illness, or break from the workforce for caregiving […]
How Does the Federal Reserve Affect the Economy?
If you follow financial news, you’ve probably heard many references to “the Fed” along the lines of “the Fed held interest rates,” or “market watchers are wondering what the Fed will do next.” So what exactly is the Fed and what does it do?
What is the Federal Reserve?
The Federal Reserve — or “the Fed” as […]
The Worldwide One Percenters
We’ve been hearing a lot about “the one percenter” – the level of income required to be in the top one percent. Of course, this amount changes depending on the country you live in.
The one-percenters threshold for each country, from lowest to highest, is shown in the following table (all figures translated […]
Reducing the Donut Hole
You may never have heard of the “Donut Hole”. It has to do the Medicare Part D prescription drug plans. The donut hole is an unusual coverage gap that is triggered after you have paid $3,750 of drug costs in a year. After reaching the donut hole, you would suddenly be paying for […]
Why Advanced Directives are Important
Many people have specific ideas about how much and the type of care they want to receive at the end of their life. Unfortunately, many wait too long before creating and documenting these wishes – as well as identifying a person (known as a health care surrogate) responsible for making the decisions if the […]
How do I replace my Social Security card?
Chances are, you probably have your Social Security number memorized, so you may not have had to use your card in awhile. However, there are times when you may be required to show your actual card, such as when you start a new job or need to access certain government services. Fortunately, replacing a lost […]
Do I need to get a REAL ID when I renew my license?
If you need to renew your driver’s license, you may want to get a REAL ID. The REAL ID Act, passed by Congress in 2005, enacts the 9/11 Commission’s recommendation that the federal government set minimum security standards for state-issued driver’s licenses and identification cards.
Beginning October 1, 2020, residents of every state and territory will […]
How Does Your Employer’s Retirement Plan Compare?
Each year, the Plan Sponsor Council of America (PSCA) surveys employers to gauge trends in retirement plan features and participation. Results are used by employers and plan participants to benchmark their plans against overall averages. How does your plan compare to the most recent survey results, released at the end of 2018?1
Participation and savings rates
Plan […]
Rules on Opening a 529 Plan Account for College
Year over year, participation in 529 plans continues to rise.1 Anyone can open an account, lifetime contribution limits are typically over $300,000, and there are tax benefits if the funds are used for college. Here are some common questions on opening an account.
Can I open an account in any state’s 529 plan or am I […]
Quiz: Social Security Survivor Benefits
Did you know that Social Security may pay benefits to your eligible family members when you die, helping to make their financial life easier? Take this quiz to learn more.
Questions
1. What percentage of Social Security beneficiaries receive survivor benefits?
a. 5%
b. 10%
c. 15%
2. Your child may be able to receive survivor benefits based on your Social […]
