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June 2018

June 2018 Short Bits

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A joint report by the LIMRA Secure Retirement Institute and Insured Retirement Institute (IRI) finds only 51% of Americans believe they are knowledgeable about Health Savings Accounts (HSAs). Those who say they aren’t knowledgeable should learn more about HSAs, which not only provide a tax-free way to save for and pay qualified medical expenses but can be used for additional income (after paying ordinary income tax) in retirement.

The Federal Reserve Bank of New York's Center for Microeconomic data reports 40.2% of respondents say that their househould financial situation has improved compared to a year ago. This is the highest number since the survey’s inception in June 2013. Consumers’ outlook for the year ahead has also improved.


If you earned income in the last three years but didn’t file a tax return because your wages were below the filing requirement or didn’t receive a refund you were expecting, the IRS may have some money for you. The IRS has millions of dollars in unclaimed and undeliverable refunds. After three years, the money becomes the property of the U.S. Treasury.


Those who are emotionally and psychologically attached to a brand, product or company — spend 23% more than average consumers, according to Gallup, and 51% more than actively disengaged customers, who are resentful that their needs aren't being met. The lesson for retailers? Take good care of your customers.


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