Employer-provided benefits are a great way for employees to maximize their compensation. Some basic benefits that employers provide are paid time off, 401(k) match, and health insurance. Some benefits are paid by the employer or are eligible to employees at lower prices than if they went out into the public market to purchase.
Author- Clay Wood
Social Security was designed to be an insurance plan. Depending on how much you pay in you get a guaranteed payment later in life to cover your basic needs if you run out of assets when you can no longer work. Of course, as a society we no longer use it that way. People now use it as the base they start with to retire and determine what they have in addition.
You’ve read the articles. I am guilty of writing a similar one. Countless other financial professionals have used the same example. Stop buying expensive coffee, save the amount you would have spent. Then, your savings compounds its investment returns.
I think people spend too much time thinking about that. It’s not the coffee holding your savings back.
The topic of achieving success comes up a lot in discussion with our clients but even more so with the millennials. As we talk about their desires for the future, they share career aspirations and discuss what kind of jobs they would like to have and whether they are on a path that will get them there.
I am sure you have noticed; the market is down. People are nervous or fearful and those feelings are not unwarranted. Even though we have lived through the Avian Flu - H5N1 and the Swine Flu – H1N1 outbreaks, this feels a little different. I obviously can’t tell you when we will get a vaccine or when the market will make a comeback.