Many Health Savings Account (HSA) plans promote themselves as an account that can be used for investments, often comparing them to a 401k or an IRA. However, is investing your HSA funds a good idea? Like so many investment questions: maybe but, then again, maybe not. Let's look at when it makes sense (and when it doesn't).
Investing in the modern era can seem like a daunting task in the era of technology in which we are living. Investors (especially young investors) are oftentimes inundated with adverts, news articles, and social media posts trying to convince them that the means to strike it rich is right around the corner. They play on the emotions by trying to convince you that you could miss out on the next big thing by not putting your money into this hot new investment, oftentimes called FOMO or Fear of Missing Out. We have seen this behavior lead to wild fluctuations in market values for some companies. One recent example is the mania surrounding the rapid fluctuation of GameStop's share price resulting from a coordinated effort in online communities to drive this stock price up.
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We are near the end of tax season. Hopefully you are comfortably ahead of the tax filing deadline curve, but if not, time is running out. |
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A 529 College Savings plan is a tax-advantaged education savings plan that is set up by your state to allow you to put aside funds for future higher education expenses. Let's take a look at a few things to consider in order to maximize your results when funding these plans.
Social Security is perhaps the best-known and most popular benefit system provided by our federal government. For most American workers, it is an essential component of their retirement income, especially as traditional company pension benefits are reduced or eliminated. Although the concept of Social Security is quite simple (workers contribute a portion of their earnings to a trust fund, and that trust fund provides retirement benefits once they reach a certain age), the details of the program can be very complex. As a result, many participants either fail to take full advantage of available benefits, or they are caught by surprise when those benefits are lower than expected. Here are a few of those important details that everyone should know. More Articles ... |
