Debt Management
Rebekah Eason
Holiday Cash for Students

By: Becky Eason, CFP®

The holidays are upon us and although 2020 isn’t a traditional year people are still getting into the holiday spirits. Gifts have become a huge part of the holidays, which we all know can add a lot of additional stress. This year there is the added stress of what is the best way to get gifts to loved ones? Shipping can be expensive and you risk packages getting delayed, lost, or broken so I wouldn’t be surprised to see more monetary gifts be given.


Holiday Cash for Students

Tips for a COVID Thanksgiving

Tips for a COVID Thanksgiving

By Kerrie Beene, CFP®

Happy Thanksgiving Week! It is a happy and sad time all wrapped up in one turkey.

We all have things to be thankful for while at the same time most of us are directly or indirectly affected by COVID. In this unfortunate time, 2020 Thanksgiving will not be the same for most. For me personally, we have decided to take precaution and cancel our normal gathering with my grandma. It was a hard decision but a few of the family members will be visiting her to keep her mental health in the forefront. While this is not ideal, keeping both our mental and physical health in good condition is the most important thing at this time. This situation will be the case for many, here at Rooted Planning Group we put together a list of things we can all do to stay mentally healthy during our COVID Thanksgiving.

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Long Distance Caregiving

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Long Distance Caregiving

Some caregiving situations require the services of a long distance caregiver. According to the National Institute of Aging, a long distance caregiver is someone that lives an hour or more away from a person who needs aid.

What are some of the roles of a long distance caregiver? Depending on the relationship, some duties may include home care, money management, medical correspondence with professionals, legal paperwork, medicinal disbursement, emotional support, family informant, etc.

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Tips for Taking Care of Yourself When You’re a Family Caregiver

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Tips for Taking Care of Yourself When You’re a Family Caregiver

November is National Family Caregivers Month! There are millions of heroes out there who provide care to their loved ones and their efforts are all too often overlooked. It’s not an easy job and the pressure caregivers put on themselves can be enormous. In honor of this important month, we’re outlining some steps you can take to take care of yourself emotionally and financially to make sure you can continue to provide great support to others.

5 Reasons to Consider the High Deductible Plan with a HSA (Health Savings Account)

During open enrollment one important decision that has to be made is which medical plan is best for your situation. When comparing the health care plans, if you have a plan option with a high deductible paired with a health savings account, do not immediately rule it out. Below are 5 reasons to consider this plan:

  1. Triple Tax Advantage

    • Money put into your HSA is with pre-tax dollars

    • Withdrawals are tax free, as long as used for qualified medical expenses

    • Can often be deducted automatically from your paycheck

  2. Pay medical expenses with pre-tax dollars

    • Use HSA funds to pay for qualified medical expenses (including dental and vision services)

    • Without the HSA, the only other way to deduct medical expenses is by itemizing your deductions on your tax return and they must exceed 7.5% (2020) of your gross income

  3. HSA is Portable

    • The HSA is owned by you and does not have a “use it or lose it” option

    • If you deposit money into the HSA, the funds remain in the account and are available in future years

    • This is the primary difference between the HSA and the FSA

    • If you change jobs, the HSA can go with you

  4. Account Grows

    • Funds are kept in interest bearing account (similar to bank accounts)

    • Can be used as a long term investment and based on your risk tolerance, invest in the stock market

  5. Additional Retirement Account

    • After age 65, the HSA can also be used as a retirement account.

    • Will be treated similar to a Traditional IRA. When withdrawals are made you will only pay income tax.

    • Unlike Traditional IRA’s, you are not required to make withdrawals at age 72

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It's That Time! Employee Benefits and More

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It's That Time! Employee Benefits and More

By Kate Welker, CFP®

This month we want to continue to remind our readers that it will soon be open enrollment through your employer and Medicare, the time of year you are able to review and change your health insurance and other benefits.

There are several posts on our blog that cover this topic more in depth:

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Knock Knock - Open Enrollment, Who?

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Knock Knock - Open Enrollment, Who?

Open Enrollment for 2021 runs from November 1, 2020 through December 15, 2020. Coverage begins January 1, 2021. It is a time in which individuals are required to opt in or out of health, dental, and vision insurance for the upcoming calendar year.

College Planning Considerations for Parents

College Planning Considerations for Parents

By: Becky Eason, CFP®

Student loans impact people of all ages, from high school through retirement. This may come as a surprise to some people, because it’s often thought that student loans are a millennial “issue”, but that’s not necessarily the case. In fact, many adults who are either planning on retirement or already in retirement are faced with student loan payments.

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Tips to Prepare for your Teenager's First Car

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Tips to Prepare for your Teenager's First Car

By Kerrie Beene, CFP®

Since Oprah stopped giving cars away in 2011, we recently had to face the challenge of getting our daughter a better vehicle. While her getting older and purchasing this car should have come as no surprise, it came faster than we wanted (we should have started earlier!!) and I wanted to share a few things we did to prepare for the purchase of the car.

  • Utilizing Savings

  • Throwing all Extra Funds into the Savings

  • Create a Physical Savings Chart

  • When the time arrives to Purchase, Choose a Budget!

  • Involve your Teen in the Purchasing Process

  • Utilize a Teachable Moment

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