I write about banking, finance, and consumer issues. Share to facebook Share to linkedin Getty More than 7,000 media workers lost their jobs in 2019 , pushing many of the laid-off reporters and editors into the unstable world of freelance journalism. Building a freelance career comes with some freedom, but with a lot of complexity. Although you may not always think of freelancing in these terms, becoming a freelancer means you’ve put yourself in charge of running your own small business.

Many of the best retirement saving strategies use employer-sponsored retirement plans like a 401(k), or individual plans like an IRA or Roth IRA. These retirement savings vehicles provide credit protections, preferential tax treatment to the investments, and in some cases, sizable tax deductions for contributions. 

For instance, when you save in a 401(k), you can do so pre-tax, and allow for up to $19,000 of salary deferral into the plan in 2019 and $19,500 in 2020. This amount is fully deductible and not included in your taxable income. Additionally, employer contributions to your 401(k) aren’t included in your taxable income. 

I was recently struck by an article written by Mitch Gorochow of the Center for Business Transition at RSM US LLP, the nation’s leading provider of audit, tax and consulting services focused on the middle market. In his piece, Gorochow laid out his case for the top 10 mistakes business owners make when they consider exiting their businesses. It’s worth reading the entirety of the article when you get the chance, but here’s my take on those 10 mistakes Gorochow identifies.

This type of fraudulent call and others like it happen every day. According to AARP, Medicare fraud losses hit $60 billion in 2017 and continue to rise. And Medicare scammers seem to come out of the woodwork around the annual Open Enrollment period, which ends December 7.

If you live in California, you probably know how aggressive California’s state tax agency can be. In fact, even if you live somewhere else, you might have heard of the Golden State’s aggressive tax rules. Buy a vacation home in California, and stay a little too long? Come into the state and do some work for your non-California employer? Travel to California trying to sell some products or collect data that you’ll use out of state when you get back home?

Fall is a time of leaves changing colors, children going back to school, families enjoying Thanksgiving dinners, and… open enrollment. Yes, it’s the opportunity for most employees to select which benefits they will choose for the following year. Here are some of the most common mistakes we see people make: Not fully understanding the value of an HSA-eligible health insurance plan.

Much of the news about health care costs focuses on the assets required to cover health care costs in retirement. HealthView Services 2018 Retirement Healthcare Costs Data Report estimates that a 65-year old couple in good health will need $363,946 to pay for health-care costs for the remainder of their lives, including Medicare and supplemental insurance premiums and out-of-pocket costs. However, people nearing retirement aren’t the only ones concerned with the cost of health care.

Many Americans celebrate their 65thbirthday because that’s the year they become eligible for Medicare. They hope they’ll start paying less for medical insurance premiums, and also they no longer need to worry about being denied insurance for pre-existing conditions. Indeed, these are good reasons to turn 65!

Bruce Chernoff was right when he told the Washington Post that the long-term-care crisis in the United States will be catastrophic. Our aging population and changing demographics mean that we are becoming a nation with substantially more older people in need of care and substantially fewer younger people to provide it. The Washington Post article , while frightening in its content, is a relief in many ways as it means that at last there is a beginning of a consciousness of what our future holds.

I’ve talked about student loan debt before, and I bring it up again because it continues to be one of the greatest financial crises in the country. Many solutions have been discussed—from full loan forgiveness to tuition payment plans to simple tough love—but few steps have been taken to lower the student loan burden that’s crushing the (mostly) millennial generation. However, change may finally be coming. What’s happening now?

Sandy Hook, Parkland, Orlando, Virginia Beach and now the Gilroy Garlic Festival shooting evoke painful memories of terrible violence and innocent deaths. Our nation reacts with memorials, discussions of access to firearms, followed by increased funding for safety measures such as armed guards, cameras and bullet proof glass at secure entrances. But far more needs to be addressed than just stopping the bullet. Tragedies grab headlines, but hardly tell the full story.

You're expecting a new baby. Congratulations! Now go buy yourself some life insurance.

Okay so you should enjoy the news, and celebrate with family and friends. After that, one of the things that should be high on your to do list during baby prep time is buying yourself some term life insurance.

Early retirement is a goal of some people and a dream of many. There’s a lot of appeal to the idea of being financially independent and leaving the work force when we’re still young enough to engage in a wide range of activities. Early retirement can mean living wherever you want and doing what you want for a long time.

Some business leaders are hopping aboard the Medicare for All bandwagon. The Business Alliance for a Healthy California, for example, now has 300 businesses calling for universal healthcare.

But any businessman considering getting behind Medicare for All should know the sales pitch is flawed.

The idea behind HSAs was simple and elegant, in its way. Give workers generous tax breaks to put aside money to help pay for their health care. That in turn would make it easier for employers to offer those employees high-deductible health plans. The high-deductible plans put more of the burden on consumers, rather than insurance companies, to pay those first-dollar costs. In theory, the combination of HSAs and high-deductible insurance would encourage patients to reduce their medical spending and eventually lower the nation’s overall health costs.

Ask any entrepreneur and you'll likely find that what has worked for them doesn't mimic the advice their large, big-box competitors may have followed. Keeping this in mind, consider the following tips aimed specifically at small businesses.

Healthcare in the U.S. can be insanely expensive no matter how healthy you are, yet having health insurance doesn’t always help with long-term costs. After all, the lowest tier of health insurance plans — which are referred to as “Bronze” plans — only cover 60% of healthcare expenses, according to Healthcare.gov. Plus, health insurance plans in 2019 come with a maximum out-of-pocket limit of $7,900 for individuals and $15,800 for families.

There is no way to get to anything resembling a secure retirement system without expanding Social Security. We also need to fix the broken employer-based retirement system, but fixing pensions and expanding Social Security are not substitutes. A comprehensive retirement security bill needs both. Let’s start with Social Security. Social Security is a social insurance program. Workers and employers pay premiums to insure against disability and death. What's more, the system is progressive.