Wake Up with Wealthtender: Will Work for Perks

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Good morning.

Beyond receiving a paycheck a couple times each month, your employer probably offers you additional perks as well.

While it’s hard to top the feeling of exhilaration when you’re recognized as employee of the month or awarded a covered parking spot, a good 401(k) and HSA can supercharge your savings and help put your finances on Cloud 9.

Today’s recommended reads will help you learn how to make the most of your employee benefits so you’ll be ready to retire on time and feel confident about your financial future.

Friday Trivia: Cloud 9? We know it means a feeling of euphoria, but where did the term Cloud 9 come from, anyway? 👇

Why You Should Max Out Your HSA Before Putting More in Your 401(k)

For people with very low healthcare costs, putting the maximum into Health Savings Account (HSA) eligible healthcare plans is almost a no-brainer, especially in situations where their employer contributes to their account to help offset the deductible.

If you don’t spend that money, it’s yours to keep and rolls over year after year for when you do eventually need it, perhaps in retirement to help pay Medicare Part B or long-term care insurance premiums.

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This Week’s Reads & Listens

Enjoy this curated selection of content from Wealthtender Financial Network partners.

💰 Can you Turn $90K in Your 401(k) into $1 Million?

Over the course of 5 years, a total of $90K in personal contributions to a 401(k) plan could create more than a million in savings. How is that so? [Accidentally Retired]

🌴 3 Steps to Take Now to Secure Your Retirement Income

The paternalistic days of employers and government providing a guaranteed retirement income for life are coming to an end. It’s up to you to secure your income in retirement. Here are 3 steps you can take now. [Financial Mentor]

🏃‍♀️ Healthy Incentives

If your employer offers a health incentives program, do you make the most of it or sit on the sidelines? Is it worth it? [Budget Life List]

❓ Your 401(k): Roth or Traditional?

To Roth or not to Roth? That is the question. But what is a Roth 401(k) and is it a better option for you than a traditional 401(k)? [Financial Freedom Countdown]

🍲 Making Sense of Retirement Plan Alphabet Soup

If you work in the private sector, your retirement plan may be a 401(k). But if you work for the government, a not-for-profit hospital and certain other institutions, you may be offered a 401(a), 403(b) or 457 plan. Need help making sense of it all? [FIPhysician]

💸 Have a Deferred Compensation Plan? Lucky You!

As a highly compensated employee, you may be offered a special opportunity to use a deferred compensation plan to lower your taxes. Should you? [Financial Freedom Countdown]

Can’t get enough? Check out these articles from members of our community, too:

Don’t Play Around With Matches: The Company Match [XRAYVSN]
Financial Advisors for Equity Compensated Employees [Wealthtender]
Should You Max Out TSP Contributions? [GovWorker]
Nuts and Bolts of 401(k) Investing [FIPhysician]
Your Employee Stock Purchase Plan (ESPP) [Wealthtender]
Breaking Down the Different Federal Employee Benefits [Retirement Revealed Podcast | Jeremy Keil]

Still want more? 🔎 Put the WISE Search Engine to work for you.

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