change of that purchase to the next dollar and then invest it. Take that $2.30 cup of coffee from this morning, for example. This app rounds that transaction to $3.00, places the $0.70 extra into a fund, and invests it. This strategy, called “microinvesting,” may not seem like much, but remember that a mighty oak tree starts as an acorn! ROBINHOOD For many Americans, investing is either too intimidating or just downright costly. And no matter how well your portfolio does, you always lose a chunk of earnings to fees and commissions. Robinhood is an app that removes all fees associated with stock trading and gives you free rein to buy and sell as you please. With seamless money transfers, Robinhood is a great way to build a large portfolio. It
PART D Part D helps with the cost of medication and prescriptions. You can only get this coverage through a private insurance company. Part D is not voluntary coverage. If you don’t enroll before your initial enrollment deadline, there will be a premium penalty. If you qualify, there is additional government assistance to help with the cost of prescriptions. In many cases, original Medicare (Parts A and B) is a great start, but it may be better if paired with a private health insurance plan. Medicare and private plans alike have many programs designed to save you cash. I specialize in making sure everyone gets the most out of their Medicare plan, so this is something I’d love to work with you on. Contact me today, and let’s set you up on the most effective plan to put money back in your pocket. can even function as a small invested savings account. VENMO While it used to take weeks to transfer money by Western Union’s horse-drawn carriages, it now takes seconds with Venmo. This app gives you the ability to send money to friends and family via your phone. With a user-friendly interface, it’s quick and easy to set up an account and link bank accounts or credit cards. Once you’re up and running, sending money is as simple as pressing a button. If you’re intimidated by learning how to use mobile apps, connect with a family member or friend. All of these apps are designed to be intuitive and easy to learn, so with a little time and practice, you can be savvy technologically and financially!
For the Golden Generation Like most stereotypes, describing baby boomers as “tech illiterate” doesn’t tell the full story. Bill Gates is a baby boomer, after all. While not everyone in the “golden generation” is on Facebook, that doesn’t mean they can’t use technology. These three mobile apps are perfect for tech-savvy boomers looking to achieve their financial goals. ACORNS Acorns is the best way to make your spare change work for you. Every time you use your debit or credit card, Acorns will round up the spare
Seniors, It’s Time to Put Money Back in Your Pockets Health Insurance Discounts for the Elderly
I love working with seniors; it gives me the opportunity to help them in areas others won’t. Specifically, many of the older clients I work with haven’t been informed of the massive number of discounts that are available to them. I’m not talking about minimal senior discounts, like at a movie theater or restaurant. These are surefire budget savers that will put valuable cash back in their pockets . In order to take advantage of this, it’s but payment assistance is available from the government for anyone
important to understand the basic foundations of Medicare. Medicare is broken into four parts: PART A This is known as “hospital insurance” because it covers most inpatient services, including inpatient hospital care, inpatient mental health care, skilled nursing services, hospice care, and some blood transfusions. Most people don’t pay a monthly premium. PART B This part covers doctor and outpatient visits. It has a monthly premium that is determined by your income,
who qualifies. You may have higher premiums if you join after your initial enrollment period. PART C Medicare Advantage is another name for this part. You do need Part A and B to be eligible for this. Part C provides additional benefits, such as routine vision care, dental, hearing, wellness programs, and nurse phone support. It is offered by private insurance companies and sometimes includes prescription drug coverage (Part D).
2
Made with FlippingBook - Online magazine maker