HSA as a Retirement Tool: Why Your Health Savings Account is Worth More Than You Think
Health savings accounts (HSAs) have traditionally been framed as a tool for covering out-of-pocket medical expenses each year. As a result, most people treat their HSAs as “spend it down” accounts, covering current medical expenses as needed. While that’s certainly one way to use it, it’s worth remembering that an HSA is the only account […]
Net Unrealized Appreciation: A Little-Known Tax Strategy for Company Stock in Your 401(k)
If you’ve accumulated company stock inside your 401(k), whether through some sort of employee stock purchase plan where you were granted a discount, or simply a choice you made to allocate some of your retirement balance towards, you may have a unique opportunity to significantly reduce taxes—if handled correctly. It’s called Net Unrealized Appreciation (NUA), and […]
Retirement Timing: How to Know When You’re Actually Ready
For many University of Maine faculty and staff, the question isn’t “Can I retire?”; it’s “Why don’t I quite feel ready to retire yet?” You might have: And yet something still feels uncertain. That uncertainty is normal, and it does not necessarily mean the timing is wrong. It usually means you have not yet mapped out all the pieces. […]
Approaching Retirement? Some Key Financial Decisions to Get Right
Despite how we might envision it, retirement is less of a single moment, and more of a multi-year transition. It’s also certainly more than simply an age or dollar amount of savings. As you approach the final stretch of your career, several important financial decisions begin to converge, including when to claim Social Security, how […]
Protecting Your Property and Finances: What you Need to Know about Deed Fraud and Security Threats
Your home and retirement account are likely two of the most valuable assets you own, according to a study by the Pew Research Center.1 After years of accumulating wealth and building equity, you have significant value on your hands, and unfortunately, others (with less than noble intentions) know this as well. Fraud and scams exist in […]
Bridging the Gap: Healthcare Strategies from Retirement to Medicare Eligibility
If you’re considering retirement before you turn 65, you’re facing a crucial question: How do I maintain quality healthcare coverage until Medicare kicks in? This isn’t a minor planning detail. For a 60-year-old retiree, bridging five years of healthcare coverage could cost anywhere from $30,000 to over $100,000, depending on the strategy you choose. The good news […]
Social Security Strategies for University Faculty & Staff: Your Guide to Maximizing Benefits
Few retirement decisions carry as much long-term weight as when and how to claim Social Security benefits. The timing of your claim can impact your lifetime benefits by hundreds of thousands of dollars, making this one of the most consequential financial choices you will make. For University of Maine System faculty and staff, there is […]
Planning for College Costs: For Parents, Grandparents, and Higher Education Employees
January is Financial Wellness Month, a time to reflect on the financial decisions that shape not just our present, but our future. And for many families, few decisions carry more long-term financial weight than how to pay for college. The rising cost of higher education has become one of the most significant threats to multi-generational […]
Your Provision Wealth Planning Year-End Financial Checklist
Between holiday gatherings and end-of-year work deadlines, it might feel like 2025 is quickly slipping through your fingers. But before we say goodbye to this year and hello to 2026, you might just want to pause and take time to review some important financial factors, including your retirement accounts and portfolio. To help, we’ve shared […]
Navigating Retirement as Higher Education Faculty & Staff: Your Complete Planning Guide
Retirement planning for higher education professionals isn’t just about saving money—it’s about navigating a complex web of university-specific benefits, understanding unique career paths, and preparing for healthcare transitions that differ significantly from the private sector. Whether you’re a tenured professor planning your next sabbatical or a staff member approaching your 30th year of service, this […]