DuPont Wealth - December 2018

Know What to Look For Before They Attack 4WINTER ILLNESSESYOU’D RATHER AVOID

Strep Throat A sore throat, headache, stomach ache, vomiting, and high fever are signs of strep. This infection is treated with antibiotics and should be addressed soon after the first symptoms appear to prevent further complications. Children with strep throat should stay away from school and other activities until they’ve been on antibiotics for 24 hours. Everyone knows that getting sick is no fun and is best avoided at all costs. However, it happens to everyone eventually. Catching a virus or infection in its early stages can help you shake the sickness much faster.

Achoo! That’s the last noise you want to hear this winter. Cold weather brings a slew of sicknesses, so be vigilant to treat these common illnesses, or better yet, avoid them altogether. The Common Cold Although there is no cure, a cold is easier to treat than other illnesses. If you or a loved one has a runny nose, low-grade fever, headache, cough, nasal congestion, or sore throat, the common cold has most likely taken hold. With the help of rest and perhaps some cold medicine, like cough drops and decongestants, the cold will come and go in about a week. Bronchiolitis Bronchiolitis appears most commonly in children less than a year old and is caused by other viruses. Of the many symptoms — nasal congestion, low-grade fevers, and coughing — wheezing is the one you should be most concerned about. If your child is having difficulty breathing and is dehydrated, they may have caught a more serious strain of the virus. Most children will recover with at-home rest, but some may need to be hospitalized for more severe symptoms. Influenza The flu is known for causing high fever, muscle aches and pains, nausea, and other symptoms similar to a cold. Often, the fever will last for around five days, but it can be shortened with the aid of antiviral medications. However, these medications are recommended only for children who face serious complications or hospitalization from the flu. If you want to avoid catching this, your best bet is to receive the annual flu vaccine.

IS YOUR 401(K) LEAKING?

WHY LEAKAGE IS BAD These 401(k) loans could end up costing you when you’re at your most vulnerable. For example, the remaining balance of policy loans that aren’t repaid because of a job loss or default may be treated as a lump-sum distribution and may be subject to income taxes and the 10 percent penalty tax. Worse still, diminishing your account balance means less money left for your retirement. This could disrupt your dream vacation plans or weaken your ability to afford the high cost of long-term care for you or your spouse. HOWTO PLUGTHE LEAKS Employers can play a huge role in reducing leakage in the plans they offer by turning to financial wellness programs. These are 401(k)-style plans that are structured to reward good employee financial behaviors. They have proven successful

One of the hardest things about having a 401(k)- style plan is the temptation. When you have a pot of money just sitting there, even the most disciplined folks will be tempted to pull from it, especially in an emergency. But it’s important to remember that your 401(k) is never “just sitting” — it’s compounding over time. Pulling out money now will cost you far more in the long run. HOW 401(K)S ‘LEAK’ This erosion of 401(k) plans is all too common and frequently hurts people’s retirement plans. It’s been estimated that about 20 percent of plan holders have outstanding loans from their 401(k)s. These loans are used for things like paying down high-interest credit card debt, home improvements, mortgages, or simply paying bills. While these policy loans may seem like a good solution in the short term, this “leakage” can have major financial consequences.

Thankfully, there are solutions. You can look into options for a Roth IRA and come up with effective savings strategies to reduce the temptation to take out a loan. And of course, having an expert financial advisor on your side gives you an extra pair of eyes to ensure you’re staying on track.

and are seen as responsible for the recent downturn in 401(k) loans in recent years.

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