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Parsec In The News
According to the Kaiser Family Foundation, in 2019 26% of employees nationwide were enrolled in High Deductible Health Plans (HDHP) through their employers. Let’s examine how we can best utilize the Health Savings Account (HSA) that accompany these plans.
Just like you have a financial plan to stay on track with spending and saving, make a plan to manage your health and hopefully reduce the impact of healthcare costs in your retirement.
The events of this past week should serve as good reminder to all of us that no matter what you do every day, we face risks beyond our control. Not that we should live our lives in constant fear – we should just prepare for the worst and then feel very fortunate should we end up living long and healthy lives.
Budgeting is very important for setting yourself up for longer term financial success. I personally prefer monitoring three separate equations for main spending goals including retirement savings, home mortgage costs, and overall debt servicing costs.
Hopefully you can enjoy scenes like this more so than your file drawer over the next few months. So, to make that happen, we can help you more easily collect the information necessary for your upcoming tax preparations.
Now that the in-laws have left and the last of the holiday leftovers have been emptied from the fridge (hopefully!), let’s review four impactful changes brought about by the SECURE Act of 2019, which went into effect January 1, 2020.
The maximum contribution for 2020 contributions is $6,000 ($7,000 if age 50 over over). There are income limits which determine whether you can deduct your Traditional IRA contribution or if you qualify to make a Roth contribution.
Parsec Financial Longevity Forum
A robust library of educational content provided by local experts on various aspects of aging well such as wills and estates, long-term care, nutrition, financial advice, planning for your legacy and more.