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Open Enrollment -A Smart Time to Review Your Financial Plan


As open enrollment season begins, I want to remind you that this is a great time to take a fresh look at your workplace benefits. Whether you're just starting out in your career or well-established, the choices you make during this period can have a meaningful impact on your financial health—both now and in the future.

Many people simply renew last year’s selections without reviewing what’s changed. But plan costs, coverage options, and provider networks often shift from year to year. I encourage you to take a moment to review your health, dental, vision, and other benefits to ensure they still meet your needs—and your budget.

Workplace benefits often include optional coverage like disability insurance (DI) and life insurance. Many people feel they have adequate protection through their employer’s group disability income and life insurance options, but it simply many not be the case. The reality is, for most people, an employer’s group DI policy may only cover a fraction of their income if they are unable to work. And the typical life insurance policy is a term policy that only covers up to a certain amount, times their annual salary. Individual term coverage may be more cost effective. It is important to take all these things into consideration when reviewing your workplace benefits.

Open enrollment is also a great time to revisit your retirement contributions, flexible spending accounts, and other paycheck deductions. Small adjustments now can lead to big benefits later. I’d be happy to talk through your options and help you make informed decisions that support your overall financial strategy.

If you’d like to schedule a quick check-in to go over your benefits, I’m here to help. Let’s make sure your selections are working for you—not against you.

Together, we can work to keep you on-track toward your financial goals. Request a consultation to learn more.
 

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