January 7, 2021


If you don’t have a Health Savings Account (HSA), build it up. And if you can pay for regular out-of-pocket medical expenses with other money, don’t take from the HSA. It acts like forced savings. Then in times of emergency, you can tap the HAS for reimbursement for those previous medical expenses-basically reimbursing yourself for medical costs you incurred in prior years. -Brendan McCarthy, director of wealth management at Three Bridges Planning, Melbourne, Fla.
January 15, 2021

Take Stock!

I recommend that investors consider the Level3 Withdrawal Strategy, developed by the founder of American Association of Individual Investors. It divides a portfolio into two parts: equity and safe. The equity part is allocated to stocks. The safe part is allocated to cash and equivalents. Two to four years’ worth of planned withdrawals should be held in this second part. When stocks are within 5% of their highs, withdraw from the equity part. When stocks fall, withdraw from the safe part. Once the market rebounds, replenish the safe part from the equity side to ensure you have enough cash to protect to portfolio during the next downturn. -Charles Rotblut, a Vice President and AAII Journal editor at the American Association of Individual Investors in Chicago
January 27, 2021

Sell and Save

Places like Facebook Marketplace, Craigslist, Poshmark, etc. allow you an easy avenue to sell unnecessary items. Use the proceeds from these sales to build an emergency-savings fund. You can sell something once a month, thereby continually contributing to the fund. -Daniel Milan, Financial Adviser and Managing Partner of Cornerstone Financial Services, Southfield, Mich.
February 5, 2021

Rainy Day Savings Tip!

Make sure you take advantage of the commonly overlooked fine-print benefits at work, including reimbursements for backup child care, gym memberships and cellphones. When you get those reimbursements, transfer them to your emergency account. -Nathan Barbakoff, Financial Adviser at Bleakley Financial Group in Fairfield, N.J.
February 11, 2021

Rainy Day Savings Tip! Paid Options!

Get paid for online surveys. The next time you’re watching your favorite show on Netflix, multitask by completing online surveys of product reviews. Sites like Opinion Outpost, Swagbucks or Global Test Market will pay for your feedback.   -Malcolm Butler, President and CEO of Fiduciary Group, Savannah, Ga.