Telemedicine

Hi Blog Followers,
This is one of the many faces of health care's future.  I am familiar with the rural areas being serviced by telemedicine for Mental Health Services in my state.  Watch the above video and I will add more about this trend tomorrow.

Making Retirement Last

I have been absent from this blog for almost a month.  I apologize.  I do so enjoy this audience and subject.

I have held information from an article of almost a month ago.  In the May 7 edition of USA Today, Rodney Brooks presented several points you should keep in mind when planning for retirement to last. In "7 Tips to make retirement savings last", he outlines  actions such as not waiting  until you are 701/2 to withdraw from one's retirement plan, consider taxes in everything you do, consider downsizing, consider an annuity, etc. (Brooks, 2014).  The action that stood out to me was making a Health Savings Account (HSA) a big part of the  the planning.  If you have access to a HSA consider not withdrawing until it is absolutely needed.  I have one and am trying to resist pulling funds from it for co-pays and health items I can afford out of pocket.  These funds are "triple tax free" .  It is deposited before tax, grows tax free, and is tax free upon withdrawal if used for healthcare. (Brooks, 2014).  Healthcare can become a major cost in retirement and it is difficult to predict if we are currently healthy.  HSA plans can even be used to pay for the supplemental health insurance premiums in retirement that compliment Medicare.  If your employer offers a HSA, look into the advantages.  Do access Rodney Brook's article.  It raises some good points and gives ideas to further explore with your financial planner such as why not wait until 701/2 to withdraw funds from a retirement account.  He explains that it is better to withdraw now and pay the tax.  Then one can put in a Roth IRA which is not taxed on the growth and there is far less required minimum distribution at 70.  Follow the link below for more good ideas.

Brooks, R. (2014, May 7). 7 Tips to make retirement savings last. USA Today, p. 6B. 

Retrieved from

http://www.usatoday.com/story/money/columnist/brooks/2014/05/06/retirement-401k-pension-savings/8695897/