Benefits at every age.

For every stage.

20s

  • Financial Basics:

    • Understanding how to budget, manage debt and how much to save can be difficult, especially when you are just starting off in your career. Fidelity has great resources to help you stay on track with your financial needs

    • Learn about Managing your Finances

    Start saving and planning for retirement by contributing to your 401(k) and maximizing Haselden’s employer match.

    Consider how you would like to make your 401(k) contributions: pre-tax, Roth or both!

    Click here for more details about how your Haselden 401(k) through Fidelity is structured.

    You can work with a Fidelity advisor to help you with planning and investing, or if you need an occasional 1:1 coaching session. You can even work with an advisor or utilize a tool to help you understand how much you need to contribute every year in order to meet your retirement age goal!

    • If you are new to 401(k)s, this resource can help you start planning for your retirement How to Start Planning for Retirement

    • To understand if you are saving enough and on track with your savings goals, visit The Fidelity Retirement Score. Start an emergency fund.

      Start an emergency fund.

    • It is important to have an emergency fund for when you have unexpected expenses. A good first goal is to get at least $1,000 saved. Once, you have that amount saved, work towards having 3 to 6 months of expenses.

    • Learn about managing your finances

30s

  • Insurance Planning:

    • It is important, at this point in your life, to starting planning about if something happens to you, or if you are unable to work. How will this impact you or your family from a financial standpoint?

    • You may want to consider looking at additional life and AD&D insurance to help your family should anything happen to you.

    • You may also want to start contributing or increasing your contributions to your Fidelity HSA. And don’t forget you can even receive a contribution from Haselden if you complete your annual wellness check-up.

    Life Planning:

    • At this point, you may be planning to have children, which can be an expensive medical bill for both mom and baby, and will likely cause you to reach your medical Out-of-Pocket Maximum. For some, this is another reason why contributing to and building up your HSA is important. For financial family planning resources, visit Having a Baby | Growing your Family

    • Or, you might be married or have kids and it is important to think about if you were to pass away, who will take care of your kids? What happens to your assets? Now is a good time to look at creating a will or a will with guardianship if you have children. If you need resources or assistance with estate planning, click Estate Planning and More

    • You are also at the age where you may be planning for a major purchase, like buying a car, or even buying or selling a house. Fidelity offers multiple resources for Planning for Major Purchases and Buying and Selling a House

40s

  • Education Planning:

    • College can be expensive. If you haven’t started, it might be time to start looking at saving for your children’s education. Explore your options with 529’s or Coverdell accounts. This is also time to think about your child’s school of choice and how much of the cost you would prefer to cover. For more information on saving for your child’s education visit Navigating the College Journey or Saving & Investing for a Child

    Reviewing wills and estate documents

    • When was the last time these documents have been updated? Have you gotten married, divorced, or had more children? This might be a good time to review and make sure the documents still meet your needs.

    HSA Funding

    • At this stage, you should consider maxing out your HSA account for future and current health care expenses.

    • Don’t forget, having an HSA saves you money, as it is considered a triple tax savings account. This is because the money is deducted from your paycheck on a pre-tax basis (lowering your taxable income), any eligible expenses come out of the account tax-free AND any investment earnings you make are also tax-free.

    • Some people even view their HSA as another 401(k) account. As, your funds roll over each year, you can save up for a rainy day or health care expenses for after you retire. Your HSA contributions can also be invested just like your 401(k).

    • There are numerous resources available to help you maximize your HSA contributions in planning for retirement: HSAs Helping with Retirement

50s

  • Planning for Retirement:

    • The light for retirement is starting to get brighter. It would be a good time to revisit with a Fidelity CFP to review your retirement goals are and ensure you on track to meet them. Fidelity has a robust library of resources to help ensure you are on track to meet your retirement goals Retirement Planning

    Long-Term Care Planning

    • You might have elderly parents who are in nursing facilities, or this may be something you are considering for yourself and want to plan ahead for. Long-Term Care insurance can be very expensive but can help cover the cost of at-home care or moving to a facility. Fidelity has numerous resources that can help you plan for care for yourself, or an aging loved one Caring for Aging Loved Ones

    Maximizing your 401(k) Savings:

    • Don’t forget! Now that you’re over 50, you can further maximize your 401(k) savings by utilizing the additional catch-up contributions each year.

    Maximizing your HSA:

    • If you are not already maxing out your HSA, you may want to consider fully funding your HSA each year to help pay for current and/or future health care expenses after you retire.

    • Remember, starting at age 55, you can contribute an additional $1,000 catch-up contribution to your HSA.

60s

  • As you grow closer to retiring, you may find Fidelity’s Tips for Preparing, Transitioning, & Living in Retirement helpful. In addition to this resource, Fidelity has numerous resources and calculators to help you plan for retirement.

    Health Insurance Options:

    • As you are thinking about your retirement, health insurance will be something to consider. You will move off your employer coverage and need to look at private or Medicare coverage. You may be wondering, what is the right coverage for me? Now may be a good time to speak with a Medicare professional. You can reach out to Payroll to provide you with the contact information of the Medicare Specialist available through IMA, our benefits consultant.

    • You can also visit www.Medicare.gov or call 800-633-4227 to learn more about your Medicare options.

    Retirement and HSA Funding:

    • Your HSA is a powerful vehicle for saving and paying for health care expenses. And as you approach retirement age, your HSA can be even more beneficial. Keep these 3 things in mind once you turn age 65!

    • Once you enroll in Medicare, you will no longer be eligible to contribute to your HSA, including catch-up contributions. You can continue contributing past age 65 if you are not enrolled in any part of Medicare.

    • You can still use your HSA funds to pay for your eligible medical expenses tax-free. You can also use them to pay for certain parts of Medicare premiums, deductibles, copays and coinsurance.

    • You can use your HSA like another retirement account by investing your HSA dollars in the market just like a 401(k). Any dollars gained in your investment HSA account grow tax-free. You can then use your HSA savings for qualified expenses, without penalty, into your retirement years and beyond.

    Maximizing your 401(k) Savings:

    • Don’t forget! Now that you’re over 50, you can further maximize your 401(k) savings by utilizing the additional catch-up contributions each year.