Conceptual Wellness Group

10/27/2022

Health Insurance gets a little tricky. The coverage your employment provides isn't always the best for you, whether that's financial or service wise. Contact for more information...

09/30/2022

06/28/2022

Invest with no knowledge- Loose money

Invest in mutual funds- pay fee and receive no dividends.

Hire your own Money manager-Pay a fee or percentage and keep your divendends and ownership rights..

I like the later….

05/15/2022

Markets are taking a beat down about now. If you’re not built for this volatility contact me and we can go through some options.

09/27/2021

What if I leave my job?

The Consolidated Omnibus Budget Reconciliation Act
(COBRA), a law created in 1986, gives workers (and
members of their family) who lose their health
insurance benefits the right continue their group
health insurance for a limited period of time under
circumstances such as voluntary or involuntary job
loss, reduction in hours, transition between jobs,
divorce, adoption and death.

Generally, the employee pays up to 102% of the premium
cost for the same policy; this is still usually less
expensive than buying an individual insurance policy.

There are three basic aspects for qualifying for
COBRA: the qualifying event, the insurance plan
coverage and the qualified person.

Each aspect is taken into consideration when applying
for COBRA and you must elect to either apply for COBRA
or waive your rights to COBRA within 14 days after a
qualifying event.

You must also have been in the group insurance plan
during your employment to be eligible. Although there
are exceptions, generally you may continue to pay your
own premiums to keep COBRA coverage intact for up to
18 months.

Companies who have fewer than 20 employees, State or
Federal employers or employee organizations may not
offer COBRA coverage.

Check with your health insurance administrator to see
if you may qualify. You may also have this information
readily available in your group health insurance
policy or in your company handbook.

Although it may be expensive, the cost of being able
to keep your group insurance coverage rate may be well
worth it.

07/22/2021

How to Plan for Your Retirement

Are you ready to start planning for your retirement? Whether you are 30 years old or 55 years old, there are a number of important steps that you will want to take. For your convenience, a few of those steps are highlighted below.

The first step in planning your retirement is examining your future. There are a number of important questions that you will want to ask yourself. Where do you want to live when you retire? How do you want to live? What do you want to be doing? Knowing your retirement needs and wants is important when looking to create a retirement savings plan. Even if you are only 20 or 30 years old, you can still plan for your retirement. A few small changes to your dream plan won’t be the end of the world. At least you have a starting point to build on.

As previously stated, knowing what you want and need to get out of your retirement is important to creating a savings plan. Why? Because it can help you determine how much money you need to have saved. Having a set goal to reach is one of the best ways to accurate and successfully save and prepare for your retirement.

Next, are you employed? If so, examine your company’s retirement plans, such as their 401(k) programs. How much have you been contributing to your 401(k) account? If nothing, you will want to start. Why? Because it is easy to do so. Inquire to see if you can have your paycheck set up so that a small amount of money will automatically be deposited into your 401(k) account.

As an important note, 401(k) accounts are advised, as they are considered tax sheltered. This is because your taxes are much lower when you contribute money into your 401(k). Also, see if your employer contributes money as well. There are some companies throughout the United States that will match the amounts contributed by their employees, which is you. What is better than free money for your retirement? In addition to a 401(k), also examine IRAs (Individual Retirement Accounts).

In addition to 401(k) and Individual Retirement Accounts, you do have other options. If this process seems overwhelming for you, you should seek professional help. There is nothing wrong with doing so. In fact, seeking professional advice can help prevent you from making many common mistakes. When looking for help, it is a wise idea to speak to a professional accountant or a financial advisor.

Even though you have made the decision to save for retirement now, there may come a point in time when you find yourself on a fixed income. It is no secret that living day-to-day on a fixed income can be stressful, overwhelming, and fearful. With that said, it is still important to keep on saving for your retirement. Any money that you can put into a 401(k) account or an IRA, do so. A few dollars here and there can easily add up.

In keeping with hitting a rough patch in your finances, if you are not use to living on a fixed income, you may want to take steps to improve your financial standing. This is a good plan to have, but stay away from your retirement savings. Whether you have spent the last year or ten years saving for retirement, try to leave that money alone. Dipping into your retirement savings can have negative consequences. If you are required to pay the money back, you may have to pay interest or taxes. Even if you don’t have to pay the money back, it is still less that you will have for your retirement years. Unless you are in a truly serious, life or death situation, leave your retirement savings alone.

As you can see, saving for retirement isn’t really that hard. Unfortunately, many news organizations and other similar websites make it seem harder than it really is. As an important reminder, if you need financial planning help, seek it.

07/19/2021

Medicare

Medicare is a governmental program which provides
medical insurance coverage for retired persons over
age 65 or for others who meet certain medical
conditions, such as having a disability.

Medicare was signed into legislation in 1965 as an
amendment to the Social Security program and is
administered by the Center for Medicare and Medicaid
Services (CMS) under the Department of Human Services.

Medicare provides medical insurance coverage for over
43 million Americans, many of whom would have no
medical insurance. While not perfect, the Medicare
program offers these millions of people relatively low
cost basic insurance, but not much in the way of
preventative care. For instance, Medicare does not pay
for an annual physical, vision care or dental care.

Medicare is paid for through payroll tax deductions
(F**A) equal to 2.9% of wages; the employee pays half
and the employer pays half.

There are four "parts" to Medicare: Part A is hospital
coverage, Part B is medical insurance, Part C is
supplemental coverage and Part D is prescription
insurance. Parts C and D are at an added cost and are
not required. Neither Part A nor B pays 100% of
medical costs; there is usually a premium, co-pay and
a deductible. Some low-income people quality for
Medicaid, which assists in paying part of or all of
the out-of-pocket costs.

Because more people are retiring and become eligible
for Medicare at a faster rate than people are paying
into the system, it has been predicted that the system
will run out of money by 2018 (which we see isn't true). Health care costs have
risen dramatically, which adds to the financial woes
of Medicare and the system has bee plagued by fraud
over the years.

No one seems to have a viable solution to save this
system that saves many people throughout the country.

10/21/2020

Good read to give a basic understanding..

How to create wealth with a life insurance strategy. Using life insurance as a transfer of wealth to a beneficiary. Single premium life insurance concepts

10/01/2018

Leverage is a powerful tool, but for Securities? That's like borrowing money to bet on the Sunday nights game. A compoundment of risk.

Warren Buffett believes investors should avoid using borrowed money to buy stocks.

08/29/2018

Traditional retirement plans, like the 401 (k), can potentially lead to problems when it comes time to take distributions for retirement. Will there be enough to live on? Compare your typical retirement plan to an Index Universal Life Insurance policy and learn about how tax-free distributions from life insurance can potentially improve the retirement income.

This is "Why IUL" by Brokers Alliance on Vimeo, the home for high quality videos and the people who love them.

08/24/2018

Are you having these conversations with the ones you love?