An HSA allows you to use pre-tax dollars and pay for deductibles, coinsurance, copayments, and other expenses. These include expenses for oral healthcare, vision healthcare, and medication.
The key to successful financial planning is to set proactive goals and be specific with how much you’re allocating to each goal, how frequently, and over how much time.
Decisions surrounding retirement are rarely simple. This further becomes the case when there is an age gap between couples, resulting in differences in retirement dates, life expectancy, health and more.
Investing in retirement used to be simple – switch to a 60/40 allocation, take out 4% a year, adjust for inflation, done. The goal was to avoid risk to the principle.
Whether you are already retired or just beginning to consider your retirement years, the question "Will I outlive my money" is most likely a top concern.
How much do you need for retirement? Well, investment research firm Morningstar has a handy but somewhat scary stat: $1.18 million. Using average annual returns of 6 percent and pegging inflation at 2.5%, Morningstar calculates that’s the amount of savings needed to achieve $40,000 per year in annual income for 30 years.
