You don’t want identity theft. Believe me.
One of the scariest moments of my life was when my data was stolen. A woman walked around Sacramento with a drivers license with her picture and my data. Since she had my Social Security number and date of birth, along with false documents, she opened up instant credit (or tried to) with over 15 retailers including Target, Lowe’s, Best Buy, and Home Depot.
The police recommended I report this to all three credit reporting agencies. When I tried to create an account with TransUnion online, I was told that I already had an account but it was locked out.
A shiver of fear went up my spine. I’d never been on the TransUnion site before.
Continue reading “Take The Equifax Data Breach Very Seriously. Take These 5 Steps.”
Aging is inevitable. There are things we can do to stay healthy, but let’s face it: Sometime in the future, our hearing, sight, and even the quality of our teeth will start to diminish.
That knowledge probably makes you want to set aside funds now for your (basically guaranteed) health expenses in the future. A Health Savings Account (HSA) is the perfect account for that purpose.
An HSA has triple tax benefits. Contributions are pre-tax, the account value grows tax-deferred, and “qualified” distributions—those used for medical expenses—can be withdrawn free of income taxes.
If you have a high-deductible medical plan, you may qualify for a health savings account. The IRS allows individuals to put aside $3,400 and families to put aside $6,750 in 2017. The year you turn age 55, you can add another $1,000 as a “catch-up” contribution (even if you’ve always maxed out your account).
Even if you don’t need to use your HSA for out-of-pocket medical expenses now, you may want to let your balance grow for the future to cover these common medical costs:
Continue reading “5 Ways Your HSA Can Unlock Benefits In Retirement”