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We are almost at the halfway mark of 2022, which makes this a perfect time to assess your financial progress and take action over the next six months. Investment Portfolio Rebalancing Review - To put it mildly, the stock market has been very volatile during the first half of 2022. 401(k) or 403(b) plan).
A few great ways for employers to assist employees are auto-enrolled retirement plans and increasing 401(k) contributions. According to SHRM, 16% of large and midsize US employers plan to raise 401(k) contributions or reinstate a contribution match for 2022. Health Care Assistance.
Recent studies have highlighted an alarming trend in American health care: More and more people are struggling with medical bills and many are delaying care due to high costs. The most recent poll by Gallup found that 38% of those surveyed said they or a family member had delayed care in 2022 due to high costs.
Even with health insurance, labor and delivery can cost around $5,000, and without insurance, it can be upwards of $40,000. Fortunately, one great way to help with out-of-pocketcosts is utilizing a Health Savings Account (HSA). Hit this savings goal every year.
Similar to the COVID distributions, a 401(k) may allow “qualified disaster distributions” up to $100,000 that will not be subject to the 10% early withdrawal penalty. These provisions generally apply to plan years beginning on or after January 1, 2022. Special Disaster-Related Rules for Use of Retirement Funds. Student Loans.
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