8 Valuable Benefits You May Not Know You Have

Valuable BENEFITS YOU MAY NOT KNOW YOU HAVE 8. On the road to financial freedom every dollar counts, but many people throw away money every day because they don't know it's available. It's not too late to get on the right path. ARE YOU MISSING OUT ON THESE VALUABLE BENEFITS? RETIREMENT FUND MATCHING ON YOUR RETIREMENT CONTRIBUTION Many companies offer to match up to a certain percent. FORGOTTEN RETIREMENT ACCOUNTS It's an automatic return on investment. Nearly half of Americans abandoned a retirement plan with a previous employer. 3 DISCOUNTED EMPLOYEE STOCK PURCHASE PLAN ALMOST 20% of those accounts are worth $50k or more. Buying discounted stocks is an BUY automatic return on investment in the amount of your discount. Consolidate old accounts with your current 401k or IRA to avoid losing track of old retirement plans and There are tax benefits to holding the stock at least one JUL year past purchase date and two years past offering date. paying unnecessary maintenance fees. WARNING! II Ш шш HOW TO FIND IT: Diversify your holdings. No single stock should be more than 5-10% of your entire portfolio. Contact the Plan Administrator at your former employer. CORPORATE DISCOUNT AND PARTNERSHIPS FREE OR DISCOUNTED ESTATE PLANNING Avoid costly legal battles and unnecessary medical care by detailing your healthcare wishes up front. Local hospitals will provide a basic health care directive. If you work for a large corporation, you may be able to get discounts for your cell phone plan, gym membership, even on retail purchases like GYM computers. Discount Or download a state-specific form from the National Many employers are members of employee benefit programs that Hospice and Palliative Care Organization. 2 Draft legal documents like simple wills and power of N OFFER DISCOUNTED PRICES LAW at amusement attorney using free or low cost online options. CINEMA parks or on movie tickets. [1] TICKET Drafting your own documents can save you money, TIPI but always protect yourself by having an attorney look over your final document to avoid costly mistakes! 6) LOST PENSION BENEFITS Use the Unclaimed Pension Search to discover missing Some pension plans are partly insured by the pensions from a forgotten plan. MANY PEOPLE ASSUME THAT BANKRUPTCY OF THEIR EMPLOYERS ALSO WIPES OUT THEIR PENSIONS, Pension Benefit Guaranty Corporation. (PBGC) 14) PBGC HAS ALMOST $197 million in unclaimed pension benefits for over o 36,000 people. SPOUSAL SOCIAL SECURITY 16) You are entitled to Spousal benefits do not decrease 1/2 benefits equal to up to 1/2 of your spouse's full your spouse's benefits. retirement amount. Being divorced does not mean you can't collect spousal benefits if: you were married for at least 10 YEARS NOT REMARRIED AND YOU HAVE SPOUSAL BENEFITS ARE PAID EVEN if you have never worked a job which contributed to Social Security. SOCIAL SECIRITY How to collect the maximum benefit Spousal benefits your own (if your Social Security benefit will be higher). D Apply for spousal benefits upon reaching full retirement age. Apply to switch Allow your Social Security benefit to to your own Social Security grow to its maximum payout. benefit. UNMARRIED CHILDREN UNDER THE AGE OF 18 TIPI (with some exceptions) may also be eligible to collect your Social Security benefits. 8 SPOUSAL SURVIVOR BENEFITS (6] Social Security can act Lump sum survivor benefits are only AS A LIFE INSURANCE PLAN IN ADDITION TO A RETIREMENT PLAN. $255. RK But! Monthly benefits for survivors can be equal to as much as 100% of your benefits based on the age and circumstance for you and your family. NOTE SURVIVOR BENEFITS CAP GENERALLY around 150-180 % of your basic rate. SOURCES • Itotal bankruptcy" [1] http://www.forbes.com/sites/financialfinesse/2012/10/10/7-valuable-benefits-you-may-not-even-know-youhave/print/ [2] http://www.caringinfo.org/i14a/pages/index.cfm?pageid=3289 [3] http://www.nytimes.com/2010/09/11/your-money/11money.html?pagewanted=all&r=0 (4) http://www.pbgc.gow/ [5] http://www.financialfinesse.com/blog/2012/10/the-tale-of-the-lost-pension/ (6) http://www.ssa.gov/