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While they’re working, many Americans become accustomed to getting health insurance through their employer. They make their initial selections and then update their choices once a year when it's time to renew and during life events like adding to the family or, perhaps ,starting a new job.
But virtually all U.S. residents face a milestone when they reach age 65 and qualify for Medicare, which provides a new and, possibly, more complex approach to health insurance. Keep in mind that even if you take early Social Security benefits at age 62, you must wait until age 65 for Medicare.
Learn more about the Medicare-related considerations we believe you should make by downloading our full article.
Investors may like to think they’re completely rational in their decision-making, but that’s highly unlikely. We don’t stop being human beings when it comes to investing, so psychology and emotions are apt to play roles – sometimes large ones – in the choices we make.
Behavioral finance studies investors’ real-life behavior and common biases. It considers the roles emotions and psychology play in making financial decisions and aims to identify factors that cause investors to sometimes act irrationally.
Download the full article to learn more.
If you, your adult children, or other family members haven’t created an estate plan or have one but the documents may be outdated, today’s unprecedented times are a reminder of how vital having an up-to-date plan can be, particularly a health care directive that you may need if you’re temporarily incapacitated. Here are five of the most important documents for many estate plans:
Beneficiary designations can provide a relatively easy way to transfer an account or insurance policy upon your death. However, if you’re not careful, missing or outdated beneficiary designations can easily cause your estate plan to go awry.
We often complete these designations without giving it much thought, but they’re actually important and deserve careful attention. Here’s why: Beneficiary designations take priority over what’s in other estate planning documents, such as a will or trust.
Click here to review our 10 tips about beneficiary designations.
A heath care directive is a legal document that lets you express your health care preferences and, if you wish, designate authority to someone to make care decisions for you if you cannot make them yourself. Some may think this is needed only near the end of life, but that’s not its only use. There are other times when it can prove useful:
April 5, 2021 | Jay Pocius, Managing Partner, recently sponsored a Crain's Chicago Business article regarding retirement planning strategies.
In the article, Jay answers the common question, "Which retirement plan is right for your business?" In answering this questions, he discusses Simplified Employee Pension (SEP) IRAs, Savings Incentive Match Plan for Employees (SIMPLE) IRAs, defined benefit pension plans, and 401(k) plans.
To read the full article and learn more about Jay's insights, click here.