Archive - August 18, 2020

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College contingency plans
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The CARES Act Offers More Savings with HSAs and FSAs
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New Advantages to Long Term Care Planning

College contingency plans

I’m a big fan of always having a plan B, and having more than one stream of income. You can only control you own actions, and try to have a plan on how you might cope with unexpected events. That’s why we diversify our portfolios, have an emergency fund, and try to think of some type of side job that keeps some money coming in if the main gig goes kaput. The era we’re currently enduring highlights the worth of these principles. So let’s apply them if you, or your nearly-adult child, is in college at the moment.

If you’re

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The CARES Act Offers More Savings with HSAs and FSAs

While a lot has been said about the Coronavirus stimulus checks and the temporary increase to the amount of unemployment  benefits one could receive, the changes to regulations for FSAs (flexible spending accounts) and HSAs (health savings accounts) accounts have not been given as much attention. In “Health Savings Accounts Get Even Better,” Kiplinger.com informs readers of how they can take advantage of these changes which are part of the Coronavirus Aid, Relief and Economic Security (CARES) Act, some of which are permanent.

This legislation offers more leeway with regards to what items are eligible for purchase with …

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New Advantages to Long Term Care Planning

Disclosure: This article is sponsored by Navy Mutual.

Have you ever considered long term care coverage? If not, you should. An overwhelmingly large percentage of the population will need some form of long term care as they age.

As many as 69% of the people turning 65 this year will need some level of long term care. 15% of those people will spend $250,000 or more on those care costs.

Let that sink in for a moment. Without proper planning, long term care expenses have the potential to significantly impact your life savings or create an excessive financial burden …

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