If I only had a brain!

If you've never seen the classic movie, "The Wizard of Oz", then please quit reading this newsletter, because you're from another planet and nothing I say here will do you any good.  You need help of a different kind.  But for you inhabitants of good old planet Earth, let me give you the last verses from the song the Scarecrow sings to Dorothy:

I would not be just a nuffin'

My head all full of stuffin'

My heart all full of pain

I would dance and be merry

Life would be a ding-a-derry

If I only had a brain

Well, I'm not sure what a ding-a-derry is but I do know we humans have a brain.  Now, just how much we use our brains is another question altogether.  Now, don't get me wrong, I'm as lazy as the next guy when it comes to thinking.  Thinking takes a lot of work.  But, think about this....since we don't all have the brains of an Einstein, doesn't it stand to reason that we should use as much of our brain power as God has blessed us with?  

For example, those of you out in the workplace, do you know exactly what your job's total employee benefits are?  Now you probably know what your hourly rate of pay is or, if you're not paid by the hour, what your weekly or monthly salary is.  But if you have a job that has any benefits at all, and most do provide some benefits, do you know what those benefits are, really?  If you don't then it's time you found out because those benefits can be very, very useful to you and your family.  The following is a list of some of the possible benefits that companies provide and a brief description of how they can be useful.  You should find out as soon as possible if your employer provides any of these benefits and take advantage of those that are available as early as you can
. 

• Health insurance- protects you and your family from catastrophic medical costs

• Life insurance- provides your beneficiaries with a lump sum or periodic payments if you die unexpectedly

• Disability insurance- provides a percentage of your pay to you if you are injured or become ill and cannot work

• Flexible Spending Plan, also known as pre-tax spending plan- allows you to set aside money tax-free to pay for certain expenses such as medical, dental, and child care

• Thrift plan- let's you set aside money into a tax-deferred account 

• Employee stock ownership plan (ESOP)- a profit sharing plan that offers you shares of company stock

• SIMPLE IRA- allows you to set aside money tax-free into a tax-deferred account for retirement; may provide an employer match up to 3% of your pay

• Qualified retirement plans- 401(k) plan or 403(b) tax sheltered annuity plan  - these plans allow you to set aside money tax-free into a tax deferred account; may also provide an employer match

The above list by no means includes all of the possible employee benefits that your employer may provide, but these are the biggies.  Some of these benefits may be provided to you without any sign-up necessary on your part and some you must fill out paperwork to get enrolled.  But by all means, find out what you are eligible for and sign up today for the plans that will benefit you.  Some may be of limited use, such as life insurance for a single person, but some are, well, a no brainer. For example, if you are eligible to contribute to a 401(k) with a 6% company match and you are not enrolled and are not contributing 6% of your pay, then you ought to have your head examined.  You might be like the Scarecrow in the "Wizard of Oz"!  Now that's a no brainer of a different color.

Hope this helps....somebody,

Randy

randy@mooreadviser.com