A recent estimate by industry trade group Insurance Information Institute puts the national average premium at $1,398/yr. From 2017 to 2020 premium increases averaged 11.4%/yr far outpacing the broader 7.9%/yr rate for all goods and services during the same period. 2021 has provided similar upward pressure on premiums with an average of 6.6% during q3 [...]
The income side of fiscal policy (i.e. taxation) is always highly politicized. The song never seems to change. Republicans think everyone pays too much. Democrats think everyone pays too little. An oversimplification? Maybe. Nonetheless a basic understanding of the proposals independent of the emotionally-charged rhetoric can go a long way towards achieving Thomas Jefferson’s view [...]
The Internal Revenue Service issued its annual inflation adjustment for health savings accounts. For 2021 the annual limitation on deductions for an individual with self-only coverage under a high deductible health plan is $3,600. That’s up from $3,550 in 2020. For 2021 the annual limitation on deductions for an individual with family coverage under a [...]
Now that the noise has died down (a bit) we've opted to say a few words.
Nice article from Barry Ritholtz about the importance of a basic financial education, why we're so bad at providing it and what can be done to improve the situation.
Who likes a visit to the doctor’s office? Exactly. In a recent survey conducted by The Harris Poll Americans likened financial planning to a medical exam. Adults aged 18+ were asked how they feel about financial planning. The #1 answer was “not my favorite thing in the world but know it needs to get done [...]
The problem with humans is that, well, we're human. It means we're subject to making decisions not in our best interest. We're easily distracted and excitable. We want to believe what we're told. It's a recipe for disaster. The purpose of insurance is to protect against something. Own a car? Great. Buy insurance in case [...]
You meet the man/woman of your dreams. You marry. You name your spouse beneficiary of your IRA, life insurance, 401(k), etc. Fast forward a few years. Your marriage is one of the almost half that end in divorce. You forget to change the beneficiary of your IRA, life insurance, 401(k), etc. Fast forward a few [...]
One of the (many) downsides of the on-demand world in which we live is we often forget to think before we act. We wouldn’t drive our own cars without insurance. Do we ever think about whether we’re insured when we’re a passenger in a ride-share from Uber/Lyft? Ride-hailing companies typically provide liability insurance for U.S. [...]
Really enjoyed this graphic: So many applications to life. Knowing what we know, knowing what we don't and knowing there's so much more to learn. It's so important to know where we stand. We are what we are...not what we think we are.