- What to do if your employer stops the company match program;
- Are people touching their 401Ks curing COVID-19?;
- Home maintenance to save on big repairs later;
- These are the clothing brands teens prefer in 2020;
- How to factor inflation and retirement medical costs into your planning
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Website: https://rockonthemoney.com/
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Facebook Group: https://www.facebook.com/groups/your401k/
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SHOW NOTES:
What should I do if my employer stops the company match?
- Companies such as Amtrak, Marriott, Macys have paused their company match programs
- Do nothing – continue as usual
- When we coach the 15% contributions into your 401K we do not include the company match, profit sharing or any other bonuses into that number. Those are considered icing on the cake.&
- Many of these companies are doing this as a temporary stop gap to keep from laying off workers, save money, save itself
- 99.9% of the time these will return because this is one of the incentives they use to attract high quality employees
- If they removed these permanently the employees could go elsewhere
- Bottom line – do nothing.
NEWS
Piper Sandler survey on what teens are shopping for. Spending is down but food and athletic apparel are topping budgets
- Nike 25%
- American Eagle 10%
- Adidas 5%
- Hollister 4%
- Pacsun 3%
- Lululemon 3%
- Forever 21 3%
- Urban Outfitters 3%
- They do not want to wear Under Armor.
SAVVY SAVINGS with Amanda: Home Maintenance Now – Save cost on Big Repairs Later
- Clean vents and filters – dryer, air conditioner, heater, septic tank, or any other part of your home, dirty or clogged vents and filters can cause serious problems
- Keep water-based appliances in check – Most important, this involves draining your water heater (about once a year) and pumping your septic tank (every 3-5 years). This helps extend their life and keeps leaks from springing or sewage from backing up.
- Make sure your alarms are working – Not exactly rocket science, but the busier you are, the easier it gets to procrastinate. By being attentive, though, and making sure things like your smoke alarms and security systems have batteries and are in tip-top shape,
- Clean your refrigerator coils – Dirty coils cause the generator to work a lot harder than it should — and they’re one of the top causes of fridge problems. The good news: this is one of easiest household chores you could hope for. Simply unplug your fridge, unsnap the grill to reach the coils (which are usually at the base, either in front or back) and sweep up any hair, debris, or dirt that has accumulated. Once every 3-6 months should be plenty.
- Clear the gutters – Gutters, you could say, are the arteries of the house. You need to keep their paths clear to make sure your home gets rid of what it doesn’t need. Clogged gutters don’t allow water to flow the way it should. It can pool around the house, causing flooding, mold, or rot.
- Deep-clean carpets – Hiring a professional to blast away dirt and absorb moisture about once a year could be well worth the cost. Letting your rugs go untended could lead to mold growth, which isn’t covered on many homeowners policies.
- Look for holes and gaps – These can spring up just about anywhere, so make sure to do a thorough inspection around your place. For starters: check the roof for any leaks, make sure the chimney isn’t missing mortar, and watch out for cracks between windows and doors. These sorts of holes leave you vulnerable to flooding claims and infestations and also lead to increased energy costs.
- Install programmable or smart thermostats
- Check insulation and caulk lines
- Clean your washing machine – Front-loading machines have a tendency to gather water in the door seal, which is exposed to water throughout the wash cycle. If you don’t regularly clean the seal, mold and mildew can grow. Once it’s there, it can be difficult to eradicate. In fact, I know someone who had to completely replace their front-loading machine because it became too mildewy to repair. Regularly cleaning your washing machine can help it be as efficient as possible and can also mean replacing your machine less often.
- Extend your downspouts to direct water away from your foundation
- Deal with dampness in your basement – sump pump, dehumidifier, repair leaks and waterproof
- Make sure your AC unit drains well
- Find and fix dry rot
- Check gauge on fire extinguishers
