What Happens if I Withdraw My 401(k) Early?
Posted: January 13, 2021
A 401(k) is a company-sponsored retirement plan that gives employees a tax break on the portion of their salary they contribute to the plan. Contributions are automatically withdrawn and invested in funds of the employee’s choosing, and employers have the option to match contributions. 401(k) plans are designed for retirement savings. Early withdrawal of funds carries heavy penalties under normal circumstances. How Soon Can You...
Keeping Health Coverage While Between Jobs
Posted: January 10, 2021
Health insurance is not just nice to have – it is essential to your family’s well-being. If you are between jobs, you have several options for keeping health coverage until you start a new position. COBRA “COBRA” stands for the Consolidated Omnibus Budget Reconciliation Act. This law gives workers who lose or leave their jobs the right to continue group health benefits for a limited...
Do I Need Life Insurance If I Live Alone?
Posted: January 7, 2021
Life insurance is designed to benefit the ones you leave behind when you pass away. So why would you need this type of policy if you live alone and have no dependents? Surprising as it may seem, there are a number of reasons why you might need life insurance, even if you are single and have no children. You May Want Children Someday The younger...
Keeping Up With Medicare Changes
Posted: January 6, 2021
Keeping up with Medicare changes can be a challenge. The entire subject is complicated to begin with, and with the rules change from time to time, it can add more confusion into the mix. One way to stay abreast of Medicare changes is to look online. A Google search can pull up a variety of information from reliable sources. Our experienced agent is also happy...
Can I Invest The Money In My HSA/FSA?
Posted: December 28, 2020
Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are both offered by employers and designed to ease the financial burden of healthcare. But there are major differences between these two types of plans. One notable difference is that HSA funds can be invested, while FSA funds cannot. How Is an HSA Different From an FSA? With both an HSA and an FSA you can...