Planned Solutions Fed Reserve Interest Rate Cuts Cost Of Health Insurance BB
On this episode of the Planned Solutions Financial Review Podcast we discuss, The Federal Reserve lowered interest rates for the second time this year in September. While this move was widely expected there seems to be some decent among Fed officials regarding the path forward. Meanwhile, Chairman Powell has signaled that the September cut is likely to the last in 2019 and possibly for some time. The opposing views may make it difficult for the Chairman to gain enough support for any additional moves unless additional data causes the committee members’ outlooks to change. And, The Backdoor Roth IRA strategy has become popular among high income earners. Often the challenge to this strategy is finding a way to get rid of IRA assets so that the IRA can be used as a conduit to make Roth IRA conversions. One way to do this is a Reverse Rollover. This involves moving IRA assets into an employer sponsored retirement plan. Also, The average cost of a health insurance family plan now exceeds $20,000 per year, a 5% increase from 2019. The high cost of health insurance makes it an important consideration when considering job offers and comparing compensation pack-ages in which health insurance may be covered, partially covered, or excluded. It also makes the cost of health insurance premiums an important consideration for anyone who desires to retire before age 65 when they become eligible for Medicare. Several members of the Planned Solutions’ Team played in a number of charity golf tournaments this month. We are so appreciative of those who support our charity golf tournament, we try to do our part to support other worthy causes as well. To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 (916) 361-0100 Folsom, CA 95630 (800) 750-2111 E-MAIL: FAX: Shannon@PlannedSolutions.com (916) 361-0191 WEB SITE: www.PlannedSolutions.com #finance #invest #investment #stocks #interestrate #bonds