Summer Checklist, Part 2: Taking Care of Your Financial Health
There’s no time like the present to check on your financial health. This summer, there are some simple steps you can take to help you reach your personal financial goals and ensure you’re making the most of your CoolSys benefits.
Consider this your summer checklist for your financial well-being:
Are you maximizing your 401(k) and company match?
Maximizing your employer’s 401(k) plan match is a must-do strategy for retirement planning. It’s like getting free money, just for saving. Here’s how it works: CoolSys contributes to your retirement savings plan based on the amount of your contribution. When you contribute eight percent of your income to the plan, CoolSys will match it 50 percent. That means for every $100 you put into 401(k) retirement savings (up to eight percent of your annual income), CoolSys gives you $50. So, be sure to take advantage of matching contributions to watch your money grow! For questions about the CoolSys 401(k) plan, contact your human resources representative.
Have you assigned a beneficiary to your 401(k)?
You must assign a beneficiary to your 401(k) account, just in case. To designate a beneficiary, log into your Wells Fargo account at www.wellsfargo.com, select My Account and My profile, and then Manage Beneficiaries. It is a simple process and will take less than five minutes.
Have you checked out the other financial wellness services available with Wells Fargo?
- Enrich – You can learn about budgeting, debt management, and saving for college or emergencies. There’s also a scholarship finder to help evaluate schools and learn how to apply for a broad array of scholarship money.
- ARAG® – Participants have access to wills, powers of attorney, and other legal documents free of charge.
Do you have the best auto and home policies for the money?
CoolSys has partnered with Mylo, an online insurance service that allows you to compare what you currently have with other carriers to see if you are getting the best coverage for the money. Visit Mylo or call 844-215-4073 for details.
If you missed last month’s article on taking care of your physical health, click here.
Here’s wishing you health and prosperity this summer and throughout the year!