Show 98 - Open Enrollment, Your Financial Check Up with Jeff Venables
In this episode, I discuss open enrollment and the importance of a financial check up with Jeff Venables.
10/29/20251 min read
It is important to do a financial check up once a year, and the best time to do it is during open enrollment. You already have to consider your health, life, disability, and other insurance, why not take a look at our whole financial life? In this episode, Jeff Venables and I discuss the way to approach this financial check up to ensure you’re staying on the right track.
Show Notes
Should I use an HSA? episode
How to get the most out of your HSA episode
Disability insurance, do I need it? episode
venablesfinancialsolutions.com
Recommended Books (Amazon Affiliate Links)
How to Adult: Personal Finance for the Real World
Key Ideas
Choosing between HMO, PPO, and high-deductible health plans (HDHPs) most people ought to choose the HDHP (consider your situation though).
The FSA and the HSA both have a purpose, but the HSA is generally better.
Long-term disability insurance may be more valuable than short-term, especially if you have an emergency fund.
Life insurance depends on who depends on your income. Don’t buy more than you need.
Use open enrollment to review your retirement contributions and investments.
Bonus Tip
Here is a bonus tip I didn't get to in the episode.
You can also use this time for “spring cleaning”...in the fall. Do you have any bank accounts or credit cards you don’t need? Consider closing them. Do you have multiple IRA accounts? Consider combining them. Simplify your financial life, it will be worth it!