401k
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Budgeting
Part Three: Preparing for Inflation-Adjusted Premiums
In January, your tax credits and average health insurance cost, per month, are going to change. Whether it’s a private plan, an employer-sponsored one, or Medicare, all consumers’ income brackets are going to be adjusted for inflation. In short, if your household earnings go up, your premiums might not because of the higher income brackets. Moreover, consumers may even qualify…
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Budgeting
The 2020 Inflation Adjustment and Your Health Premiums
Starting next year, inflation will impact the average monthly health insurance cost and the Medicare premiums 2020 rates. More specifically, even if your income doesn’t change, inflation might diminish your taxable earnings. In turn, you may qualify for lower premiums and tax savings. Having said that, higher health insurance options are also on the table. If your income increases, so…
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Investing
Should You Open Another Retirement Account?
While you are saving in a company sponsored 401(k) or a personal individual retirement account(IRA), you might be wondering if it is enough. The question looms of whether it make sense to open an additional retirement account or simply continue contributing to the one you already have. This question has a few caveats to it that are worth understanding before…
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Investing
What Do You Need to Know About Your 401K?
A 401K is a great way to save for retirement. It is essential, however, that you understand the ins and outs of this investment tool. By learning more about it, you can ensure that your money is growing at a maximum level. Almost 80% of US workers have a 401K, but each plan is unique. Learning more about how your…
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