The first topic we’d like to cover as part of our personal finance video series is how to maximize employer-provided benefits as an individual in the workforce. In under seven minutes, we provide general recommendations and review how we advise our clients when it comes to making the most of employer-provided retirement plans, health savings accounts, flexible spending accounts, life insurance, disability insurance, and medical coverage.
Grab a cup of joe and let’s start to make sense of your cents!
NOTE: Updated 2023 contribution limits for the benefits discussed in this video are as follows…
- 401(k) Contributions (under age 50): $22,500
- 401(k) Contributions (over age 50): $30,000
- Health Savings Account (single): $3,850
- Health Savings Account (family): $7,750
- Health Care FSA: $3,050
- Dependent Care FSA: Same as 2022