As a professor at The American College of Financial Services and the co-creator of the Retirement Income Certified Professional (RICP®) program, I’m often making lists of what I think everyone needs to know about planning for retirement. And, on a personal level, as someone who is approaching retirement myself, those lessons are really hitting home.
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Concerned about your 2021 benefits package? You aren’t alone.
The quest to deliver quality health care to employees is more challenging than ever in a market where costs are rising and coverage is declining. And just when we thought healthcare couldn’t get more complicated, COVID came along. Your 401(k) makes saving for retirement as painless as possible. You can transfer a portion of each paycheck straight to your retirement account, and if your employer offers matching contributions, you can even earn free money simply by saving.
According to a 2016 survey by the Urban Institute Health Policy Center, 83.1% of all U.S. workers had access to some form of employer-sponsored health insurance plan, up slightly from 2013.
Roth IRAs and Roth 401(k) plans aren’t your only sources of tax-free income in retirement.
Say hello to so-called permanent life insurance — a policy with an interest-bearing account that’s known as cash value. Decisions you make about health insurance affect your finances in profound ways. Going without insurance puts you at grave risk of financial disaster -- and you'll also owe a federal tax penalty for not being covered.
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