Tuesday, September 30, 2014

Offering a Hand Up

For Tony Amaradio, helping others is a big part of his life. While he has made his name and career through wise and prudent investment advice and management, and has a stable of high net worth clients that have benefited greatly from his financial skills and knowledge, it seems like everything that Tony Amaradio gets involved in ends up helping others.

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While he remains incredibly busy and involved in the world of finance and investments, Tony Amaradio also allocates a good portion of his free time in working with Christian ministries involved in a wide variety of services. Perhaps the common theme for most of these organizations is the fact that they are striving to help those in need or are underprivileged.

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His theory and approach is simple. Tony Amaradio believes in offering a hand up, not a hand out. Similar to the concept of teaching a man to fish, Tony Amaradio knows that temporary assistance without offering an avenue to leaving poverty does not go far in giving a person the power to discover that they can take care of themselves.

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To this end, he tirelessly gives to deserving organizations such as the Joni and Friends International Disability Center, who helps churches around the world to witness to people with disabilities. Similarly, the Prison Fellowship is dedicated to helping current and former prisoners, along with their families, to find a path back to normal society, where they can once more work and give to others while taking care of their own needs.

While some of the charities with which he regularly works and contributes to are simply focused on building new churches around the globe in order to continuing spreading the Good Word, the results remain the same. By witnessing to those in need or who feel lost, Tony Amaradio is doing what he can to make the world a better place for everyone.

Wednesday, September 3, 2014

How a Savings Account for Health Can Help In Retirement – Tony Amaradio Weighs In

When we are young, we have a glancing understanding of the type of investment we might need in order to make our futures secure.  However, there are avenues that don’t often go explored; avenues that can be highly beneficial in our later years.

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“Even if we do everything we reasonably can to finance our retirement, sometimes we find ourselves less secure than we would have liked when retirement is close at hand,” says financial consultant and founder of Select Portfolio Management, Tony Amaradio.  “Having a health savings account when we are young and contributing to it regularly could provide significant benefits if used as a part of a long term plan.”

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Americans who are already enrolled in a high-deductible health plan might be eligible for a health savings account (HSA).  The monies contributed to a HSA are not federally taxed when they are deposited, and can be rolled over.  The funds can be used at any time for approved health-related costs without incurring a penalty (although non-prescription over the counter medications will not be considered eligible).  However, it might be in the account holder’s best interest to allow the funds to accrue – if possible.  The funds aren’t taxed; taxable income is reduced and withdrawals for approved health expenses aren’t taxed, either.  Moreover, although there are penalties and taxes for using the funds for non-health purposes before retirement, after the age of 65, there are no penalties.

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It is important to note, though, that contributions should begin at a relatively young age in order to achieve the optimal savings.

“After retirement, health costs are typically a large portion of the retirement savings financial obligation,” says Tony Amaradio.  “Having a nest egg in the form of an HSA can alleviate some of the burden.”