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The 7 Biggest Financial Mistakes to Avoid in Your 50s

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With extra cash—and in many cases, children out of the home also creating an extra cash infusion—he sees larger houses and more expensive cars show up. It’s not the time to go start taking on extra expenses,” he says. You should be saving as much as you humanly can. Delaying or overlooking long-term care insurance The U.S.

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It’s time to review (or create) your document retention policy

BMT Office Administration

Worried that your company might not have a particular document on hand if the IRS conducted an audit? They create a document retention policy that clarifies what needs to be saved, where, and for how long. Courts and government agencies frown upon individual employees selectively keeping or tossing important documents.

Policies 105
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Do I Need to Buy Life Insurance?

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People purchase life insurance to help their families replace lost income and cover final expenses after death. Remember: The larger the policy amount or the longer you want the policy to be in effect, the more expensive the premiums. As part of your research, consider the financial health of the company.

Policies 215
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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

While it’s clear that you need to keep a separate file for each employee, which documents should you include in it? After all, there are some documents that you’ll need to keep confidential , and there are some that you don’t even need to include in your personnel files.

Filing 52
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Stay organized and secure with electronic records management

BMT Office Administration

He put Laura in charge of going through a bunch of drawers with instructions to make folders to organize papers of current worth, box up other documents that somebody might need down the line, and toss insignificant and old material. Fires, floods, and even spilled cups of coffee can render physical copies of documents unreadable.

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What Is Happiness and Why Is It Important?

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Anyone who has been in therapy at any point during the past century has likely heard that request, now a go-to punch line for an entire industry of mental health. But focusing on why people are miserable—and reliving that misery one 45-minute session at a time—in order to get happy became, well, depressing for many in the mental health field.

Health 296
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

Employees need this document in order to file their personal income taxes each year. It can also help to look at whether the worker is reimbursed for expenses incurred while completing the work. This does include tips but typically doesn’t include payments like expense reimbursement unless they count as fringe benefits.

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