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Boosting Retirement Confidence for Near-Retirees

Boosting Retirement Confidence for Near-Retirees

  Employees late in their careers need information that helps smooth the transition into retirement   We are entering the “Great Retirement” era, where tens of thousands are hitting retirement age daily. By 2030, the entire baby boomer generation will be 65 or older. These hard working and resilient employees were the first to experience the shift from guaranteed pension plans to defined contribution plans such as 401(k)s. With retirement in sight, near-retirees are a key target audience for financial wellness programs. Older employees are likely to experience heightened financial stress and anxiety as they transition from work into retirement…

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Employee Newsletter: Financial Health Edition

Employee Newsletter: Financial Health Edition

As a plan sponsor, employees want you to support their financial well-being. Achieving financial health takes time and commitment, here are three tips to help your employees stay focused: Make savings a routine they can stick to Set realistic goals Get help from a financial professional Just as physical health requires commitment, good habits, and professional guidance, achieving financial health needs time , persistence, and small yet powerful changes. By empowering your employees to improve their financial fitness, you are contributing to their overall well-being and satisfaction. Download the Newsletter HFM Investment Advisors, LLC. 856-232-2270 www.hfmadvisors.com 401kteam@hfmadvisors.com 102 West High…

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Don’t Let 5% Savings Accounts Distract You From Investing for the Long Term

Don’t Let 5% Savings Accounts Distract You From Investing for the Long Term

Welcome back to the Dollar Wise Podcast. In this episode, Jason Gabrieli, CFP®, discusses the current trend of keeping money in cash. With high-yield savings accounts offering around 5%, many investors are unsure whether to invest or leave their money in cash. Jason highlights the importance of understanding historical returns and differentiating between short-term and long-term financial goals. He demonstrates how long-term investments in bonds and stocks have historically outperformed cash, despite recent attractive yields. The episode encourages listeners to align their cash holdings with their financial objectives and offers insights into market trends and behavioral finance. Tune into this…

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Overcoming Mid-Career Retirement Savings Hurdles

Practical tips for Gen X and Millennial workers to save for retirement   Life in the middle can be a pickle—just ask any mid-career employee. They're often caught between a rock and a hard place, or, more accurately, a kid's college fund and an aging parent's medical bills. Add to that the rising cost of living, and you've got a perfect storm for financial stress. Money and Happiness Did you know that 59% of Americans think money can buy happiness? With the magic number being $1.2 million. Interesting though, for a significant portion of your workforce, financial happiness is tied…

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Unlock the True Potential of Your 401(k) Savings

Unlock the True Potential of Your 401(k) Savings

  Jason Gabrieli and Tyler Reedman, both CERTIFIED FINANCIAL PLANNERS at HFM Investment Advisors, dispel common misconceptions about 401(k) contributions. They dissect the difference between matching the employer’s contribution and maxing out a 401(k). They discuss contribution limits and strategies to increase contributions incrementally so you can optimize your savings. This episode is a must-listen for anyone looking to take full advantage of their 401(k) potential. Tune into this episode to also learn: The real meaning of 'maxing out' your 401(k) and common misconceptions. How automatic escalation can effortlessly boost your 401(k) savings. The impact of choosing between Roth and…

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Affording Retirement in New Jersey: Tax Benefits and Programs for Seniors

Affording Retirement in New Jersey: Tax Benefits and Programs for Seniors

When you retire, do you want to stay in New Jersey? Jason delves into the common concerns about retiring in New Jersey, such as the state’s reputation for high taxes and living costs. He also covers recent changes and programs like the Senior Tax Freeze and the Stay NJ program that make New Jersey a more appealing retirement destination. Lastly, he discusses the nuances of property and income taxes, providing valuable insights for those considering retirement in the Garden State. Tune into this episode to also learn: How recent tax reforms in New Jersey benefit retirees, particularly concerning property taxes…

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Helping Early-Career Employees Navigate the Saving Maze

Helping Early-Career Employees Navigate the Saving Maze

Ways to boost financial confidence and loyalty for Gen Z employees   Have you ever found yourself pondering the classic "If only I could rewind the clock and share some pearls of wisdom with my younger self" scenario? As an employer, you have the chance to share this knowledge with your employees, especially when it comes to saving for the future. The Impact of Early-Career Saving Hurdles While everyone encounters challenges, certain obstacles tend to affect individuals early on in their careers more than their senior counterparts. Factors such as inflation, the cost of living, student loans, and impulsive 401(k)…

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Charge Up Your Savings: Home Improvement and EV Tax Credit Overview

Charge Up Your Savings: Home Improvement and EV Tax Credit Overview

Home improvements, purchasing electric vehicles, and installing a qualified vehicle refueling and recharging apparatus at your home could entitle you to a tax credit. Jason reviews the different types of credits, their requirements, and the importance of consulting a tax advisor to optimize these opportunities to integrate them into your financial plan. Tune into this episode to also learn: Specifics of energy-efficient home improvement credits for installations like doors, windows, and HVAC systems. Details of the residential clean energy credit for adding renewable energy sources to your home. Insights into tax credits for purchasing new and used clean vehicles, including…

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HSA Strategies: Unlocking the Full Benefits of Your Health Savings Account

HSA Strategies: Unlocking the Full Benefits of Your Health Savings Account

Are you enrolled in a Health Savings Account (HSA)? In addition to being used for immediate medical expenses, it provides tax advantages and can be used as an additional retirement tool. Jason reviews the requirements for an HSA, such as enrolling in a high-deductible health plan and the potential to invest contributions for long-term growth. He also introduces the concept of a Limited Purpose Flexible Spending Account (FSA), which can complement an HSA by covering specific health expenses like dental and vision care. Tune into this episode to also learn: How HSAs can be strategically used for both immediate and…

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2024 FAFSA Updates: Navigating Changes in College Funding for Families

2024 FAFSA Updates: Navigating Changes in College Funding for Families

This year, students and their families will notice significant changes to the Free Application for Federal Student Aid (FAFSA) process. We'll review these changes and how they can impact families navigating college funding. Key topics include the reporting of student income, business and farm assets, retirement plan contributions, and the implications of having multiple children in college. Jason also touches on the impact of grandparent-owned 529 college savings plans on FAFSA results. Tune into this episode to also learn: How the new FAFSA rules in 2024 differ from previous years. The importance of understanding the nuances of reporting student income…

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