Savings and Investing - North Light Financial Services

The Financial Toll of Addiction

The Financial Toll of Addiction Opioid abuse threatens to wreak havoc on family finances and retirement plans. Imagine your retirement dreams put on hold or compromised, your savings and investment accounts reduced, and your loved ones uncommunicative or at odds with each other. This terrible state is reality for families ravaged by addiction. OxyContin, heroin, and other opioids can cost an addict hundreds of dollars per day. Where will an addict find the thousands of dollars needed, over time, to [...]

By info@northlightfinancialservices.com|2017-10-19T11:13:10-04:00October 19th, 2017|Personal Finance, Savings and Investing, Well-being|Comments Off

Retiring Before 60

Retiring Before 60 If that is your dream, explore whether these steps could be useful to take. How could you retire in your fifties by choice? You will need abundant retirement savings and ways to access your retirement assets that lessen or avoid early withdrawal penalties. You may also need to have other, sometimes overlooked, components of retirement planning in place. There are ways to tap retirement savings accounts before 60. True, the I.R.S. discourages this with 10% penalties [...]

By info@northlightfinancialservices.com|2017-10-10T11:25:59-04:00October 5th, 2017|Personal Finance, Retirement, Savings and Investing|Comments Off

The Rough Consequences of Not Saving for Retirement

The Rough Consequences of Not Saving for Retirement Do you really want to risk facing these potential outcomes? Saving for retirement may seem a thankless task. But you may be thanking yourself later. Putting away a percentage of one’s income, money that could be used for any number of bills or luxuries, is a sacrifice made in the present in order to avoid a larger trouble down the road. More than a quarter of seniors have no retirement savings. To [...]

By info@northlightfinancialservices.com|2017-08-04T11:01:19-04:00August 3rd, 2017|Financial Fitness, Investing, Retirement, Savings and Investing|Comments Off

Why Retirees Need Good Credit Scores

Why Retirees Need Good Credit Scores Careers & businesses end, but the need to borrow remains. We spend much of our adult lives working, borrowing, and buying. A good credit score is our ally along the way. It retains its importance when we retire. Retirees should do everything they can to maintain their credit rating. A FICO score of 700 or higher is useful whether an individual works or not. For example, some retirees will decide to refinance their home [...]

By info@northlightfinancialservices.com|2017-07-20T10:29:28-04:00July 20th, 2017|Personal Finance, Savings and Investing|Comments Off

The Advantages of HSAs

The Advantages of HSAs Health Savings Accounts offer you tax breaks & more. Why do people open up Health Savings Accounts in conjunction with high-deductible health insurance plans? Well, here are some of the compelling reasons why younger, healthier employees decide to have HSAs. #1: Tax-deductible contributions. These accounts are funded with pre-tax income that is, you receive a current-year tax deduction for the amount of money you put into the plan. Your annual contribution limit to an HSA [...]

By info@northlightfinancialservices.com|2017-06-01T10:43:28-04:00May 18th, 2017|Health Insurance, Personal Finance, Savings and Investing|Comments Off