How Does an FSA Benefit Employers?

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Bottom Line – Employers can benefit greatly by offering a Flexible Spending Account to their employees! 1. Employer Saves Money on FICA Taxes Example – If your employee makes $30K a year, then as the employer you would pay $2016 in FICA taxes. If that same employee elected to put $2,500 in their FSA then the company would pay $1,848 in FICA taxes. This is an annual savings of $168 for just one employee! 2. FSA are Appreciated and Often Vital for Employees Saving 20 to 25% on medical expenses…

What Physicians Look For in a Retirement Plan

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In a recent poll, physicians across the state of Oklahoma were asked about their current retirement plan. UPAL’s goal was to learn if Oklahoma doctors have a retirement plan that they are satisfied with and what features of that plan are most important to them. Not only did we confirm what we already knew physicians value in a retirement plan, but we learned that many doctors are only partially satisfied or even dissatisfied with their current retirement planning situation because many of their expectations just aren’t being met. Keep reading…

Portfolio Endurance

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The need for retirement planning doesn’t end with the onset of retirement. A new retiree’s focus shifts from building wealth to managing and preserving it. One major challenge is to make the investment portfolio supply cash flow for the duration of life—and through different economic and market conditions. Experts have studied portfolio longevity or endurance to help retired investors reduce the odds of depleting their wealth too soon. The studies evaluate how a portfolio might endure under the stress of changing markets and spending levels. The resulting models estimate portfolio…

A New Way To Invest

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Many investors have unfulfilled expectations. They are looking for a better solution, one that can lead to a better investment experience. What would that approach look like? How can they improve their odds of success? Why Invest At All? Let’s begin by considering what you want to accomplish as an investor. Why do people invest at all? People have different financial needs and goals, and therefore, they may invest for different reasons. One major reason is to grow their wealth—for example, in preparation for retirement. Whatever their reason for accumulating…

Is Gold Worth Its Weight in a Portfolio?

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During a weak global economy and uncertain financial markets, many investors tout the benefits of holding gold. Some proponents claim that gold deserves a significant weighting in most investors’ portfolios. Gold’s often-cited portfolio benefits include a strong long-term return, a hedge against inflation, and safe haven during turbulent times. But does the evidence build a case for holding gold as a separate asset class? Let’s look at historical returns for the answers. Gold’s Long-Term Performance Investors who think of gold as having strong long-term returns base their belief on two…

Changes to the Rules for Flexible Spending Accounts Truly Make it a WIN-WIN!!!

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Offering a Flexible Spending Account can be a vital component of any company’s business plan. And, recent changes to the FSA rules make offering one an even better option now for employers and employees! First off, there are three key benefits to employers: 1. Significant savings on FICA taxes. 2. Offering a more comprehensive and competitive employee benefits program. 3. Hassle free administration And… the employees win the most by allowing them to use pre-tax money for eligible health care expenses. Imagine your employees saving an average of 30% on…

6 Things Every Physician Should Know About Retirement Investing

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Doctors face unique challenges when planning for retirement. Relaxation, recreation, and leisure: After a lifetime of working hard to care for other people, doctors deserve to enjoy their retirement to the fullest. A 2013 survey conducted by AMA Insurance revealed that only 6% of U.S. physicians consider themselves ahead of schedule when it comes to retirement preparedness while about 48% feel that they are behind. The survey also found that the primary difference between the 6% and the 48% was that the more prepared physicians possess a deeper knowledge level…

Alarming Facts About America’s Retirement Crisis

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According to recent data from Fidelity Investments, it’s unlikely that many Americans are saving enough to live comfortably in retirement. As of March 31st, Fidelity reported that the median size of a 401(k) is only $24,400, with people over age 55 having saved an average of just $65,300. Part of the problem is simply that many Americans are not investing enough. In one poll, 68% reported not being able to reach their monthly retirement goals due to other financial responsibilities. But other factors add to this ever-widening retirement gap. One…

What is Long-Term Care?

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By Carolyn K. Schultz, CLTC When people consider the subject of long-term care, they often think about nursing homes. In fact long-term care has little to do with nursing homes. Understanding the difference can help you protect your family and finances. The Consequences of Living Longer Long-term care is a continuum of care services and housing you will need when you live a long life. Think you won’t live a long life? Think back 25 years ago. If you had cancer or a stroke, you simply died. Few ever heard…

Thinking About Retiring Soon?

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We know you have questions. Let UPAL help. Nearing retirement and not sure if you are invested to meet your goals? Think you only have until your retirement date to build your portfolio? Many physicians who are just a few years from retiring may not realize that they must continue to re-shape their retirement planning, even in retirement. And you don’t have to hire an expensive advisor to help you determine if your current investment selection is the correct one. We know you have questions. Let UPAL help. Work with…