September 2015
Planning for the future is not easy. Many of us are so busy in our daily lives that we feel that we don't have the bandwidth to think past next week. This is true for our financial futures as well. A study by the Government Accountability Office reported that among households age 55 and older, about 29% have neither retirement savings nor another retirement benefit plan (such as a pension). Without saving for these future expenses, it can be difficult to maintain the same lifestyle once you leave the workforce. Similarly, even with Medicare, many people find that they still need savings to cover medical related costs (co-pays, deductibles, prescriptions, etc). So the more you can save and prepare for the future the more you can enjoy your retirement. This month we bring you three articles about different investment accounts that can help you save for your future.  

We also have an announcement for Home Forward's open enrollment period for the wait list for subsidized apartments at three community housing buildings. 

All the best,
Innovative Changes
Credit Tip of the Month
It can be tempting to apply for a store credit card to get a discount when shopping, but every time you apply for credit, an inquiry is added to your credit report. Try to have 2 or fewer inquiries per year by not applying for credit you don't need!
Interested in learning more about how to safely build credit? Attend a credit builder loan orientation!
Retirement Savings Made Easy with the New myRA Program
By Stephanie Sampedro
Last year in his State of the Union address, President Obama announced a plan to start a retirement savings account program for the roughly 50 million Americans who do not have access to an employer-based retirement savings account. The myRA program has been slowly rolled out through a pilot program and is now available for any American with an annual earned income of less than $131,000. The account was designed to serve people that do not have access to 401Ks, are afraid of losing money from an investment account, and those who want to start saving but don't know where to begin. It is modeled after a traditional Roth IRA account, and once you save $15,000 in your myRA you can roll those funds into a private-sector Roth IRA to continue saving for your retirement.

Tax-Free Savings Accounts for People with Disabilities Coming to Oregon October 5th!
By Brian Smith   
Introduced in 2006 and signed into law by President Obama last year, the
Achieving a Better Life Experience (ABLE) Act is being steadily implemented by states across the country and will continue to do so throughout 2016. The act allows those with disabilities and their families access to tax-free savings accounts for disability-related expenses.

Continue reading about the ABLE Act! 
SaveSave More for Future Health Care Expenses
By Katie Kasabian 
One of the biggest and most unpredictable costs of retirement is paying for health care. One way to prepare for future medical expenses during retirement is through a health savings account (HSA). HSAs were created so that individuals covered by high-deductible health plans could receive tax-preferred treatment of money saved for medical expenses. If you have a high-deductible health plan, a HSA is a great way to financially prepare for retirement.
Join the Waiting Lists for Subsidized Apartments at Three Communities hflogo
Home Forward will be accepting applications for the waiting lists for studios at Hollywood East, one bedroom apartments at Gallagher Plaza and Northwest Tower Annex from September 23-26, 2015. Applications can be filled out online, using any internet-connected com
 Upcoming Workshops & Orientationscb

The next Financial Household Resiliency workshops will be:


- Tuesdays 5:30-7:30pm 


Suite 2027

- September 22nd: Hands on Banking

- September 29th: Building, Repairing, and Protecting Credit

- October 6th: Making Ends Meet

- October 13th: Budgeting and Saving 


All workshops take place at our NEW office, 2027 Lloyd Center Mall.

You can register for the classes here.

Our next Credit Builder Orientations will be:


Suite 2027

- Friday, Sept 25th, 2:00-3:00pm

- ESPANOL, miercoles 30 de septiembre, 5:30-6:30pm 

- Friday, Oct. 9th, 1-2pm

- Thursday Oct. 15th, 5:30-6:30pm

- ESPANOL, viernes 23 de octubre, 1-2pm




  All take place at our office, 2027 Lloyd Center.

Register here.

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