On February 25, 2025, Health Alliance announced they would be closing their commercial insurance activities at the end of calendar year 2025. If you are a current UIUC employee who uses the Health Alliance plan as your medical insurance provider, these events affect you.
Welcome to Part 1 of our multi-part series designed specifically for members of the State Universities Retirement System Retirement Savings Plan (SURS RSP) who are approaching retirement and want clear guidance on their options. This guide will help you make sense of your choices and confidently decide what to do with your account balance as you transition to retirement.
Last year, we explored the uncertainty surrounding the potential expiration of the Tax Cuts and Jobs Act (TCJA) and how one could plan in the face of that ambiguity. At the time, we were preparing for three possible outcomes: an extension of TCJA, a full sunset reverting to pre-2017 tax law, or a new legislative package altogether. As of July 4, 2025, we have our answer.
While I am extremely diligent about password security here at the office (we all are!), I admit that I still have work to do at home. Just this week I had an alert that a frequently used password of mine was found on the “dark web”. As I began to dig into the sites that I used this password for, I realized a lot of them were logins that were set up years ago, and that many of them were for sites that I no longer have a use for. A project this week will be to disentangle myself from those accounts.
However, it did impress upon me the urgency to take a look at my personal password situation for sites I use more frequently. I know that while some have a good strong password, many do not. For a long time, I was hesitant to create a bunch of passwords that I wouldn’t remember.
A password manager can remember all of them for me and keep them secure. It’s just a matter of setting aside some time to get started. I love this quote from Wired magazine:
Password managers are the vegetables of the internet. We know they’re good for us, but most of us are happier snacking on the password equivalent of junk food. For nearly a decade, that’s been “123456” and “password”— the two most commonly used passwords on the web. The problem is, most of us don’t know what makes a good password and aren’t able to remember hundreds of them anyway.
We shared a Tip of the Month in 2023 about password managers. This is an updated version of that post. Hopefully it will inspire you (and me) to get our personal passwords in order!
While different sites might operate in slightly different ways, a password manager generally keeps all your passwords in a “vault” which is accessible with a single sign-in. It adds a layer of security by generating secure passwords and keeping them safe and secure in a singular location. You can even add layers of security using two-factor authentication! These sites are wonderfully useful in taking the hassle out of creating and keeping track of all your important passwords.
You create an account with a login and “master password”. Most applications have a free options for personal use. You can add features by paying a small amount each month.
Then the manager can autofill your other passwords directly on your phone or computer.
You can create folders to categorize and keep track of all passwords in one secure location
The “generate password” feature can be used any time you need a new, secure password and it will save that information into your vault
Most web browsers (Google, Firefox, Safari) have a simple password manager. This article from Consumer Reports shares that this option is a better one than reusing the same weak password over and over. However, there are added benefits to using a separate password manager, including additional layers of security, shared access with other people in your family, and the ability to access your passwords no matter which internet browser you’re using.
Use shared folders. Depending on the subscription, you may have the ability to share your vault folders with another trusted contact or family member, which is great for families who share login information.
Keep your master password somewhere secure. This could be somewhere in your physical files, or written into your estate documents in case someone needs to access your information in an emergency.
Autofill is your friend. This feature is very useful for saving time when logging into different sites.
Consider using it to store other information. Many password managers also give you the ability to store other information you’d like to keep secure, such as notes, copies of important documents, or copies of your passport or I.D.
We use Dashlane at our office, but any one of the services listed above has plenty of resources and guides that can teach you how to make the most of your password manager. The Wired article linked above does a nice job of highlighting the pros and cons of the different applications. If you have any questions or would like to know more please reach out to our office via phone or email.
This post was originally authored by Brogan McKay.
Here at Bluestem we relish the opportunity to guide you in all of your financial endeavors, and share our knowledge with you. If you’ve ever felt compelled to explore topics related to personal finance on your own, we can help with that too! Here is a list of recommendations for some additional reading.
Money and Happiness: A Guide to Living the Good Life by Laura Rowley
Explores the connection between financial well-being and happiness, offering practical advice for aligning your money with your values.
The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money by Carl Richards
Uses simple sketches and stories to highlight common financial mistakes and how to avoid them by understanding our own behavior.
Happy Money: The Science of Happier Spending by Elizabeth Dunn and Michael Norton
Reveals how thoughtful spending — on experiences, others, and time — can lead to greater happiness and life satisfaction.
The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel
Blends storytelling and behavioral science to show how our emotions and experiences shape financial decisions more than logic.
Why Smart People Do Stupid Things With Money: Overcoming Financial Dysfunction by Bert Whitehead
Identifies financial personality types and offers tailored strategies to overcome money-related blind spots and build lasting wealth.
The Millionaire Next Door by Thomas J. Stanley and William D. Danko
Uncovers the surprising habits of America’s wealthy, emphasizing frugality, discipline, and long-term planning over flashy lifestyles.
A Random Walk Down Wall Street: The Best Investment Guide That Money Can Buy by Burton G. Malkiel
Offers a broad overview of investment strategies and market theory, encouraging informed, long-term investing over speculation.
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns by John C. Bogle
A timeless classic that champions the power of low-cost index funds, offering a clear and compelling roadmap for building long-term wealth through simple, disciplined investing.
President Biden has officially signed the Social Security Fairness Act (HR 82) into law on January 6, 2025, revoking the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) under Social Security. Here we outline what WEP and GPO are, how they impact benefits, and what this change means for those at different stages of their financial journey.
With the Secure Act 2.0 that passed in 2022, the world of savings has evolved to allow families a unique opportunity to transform unused 529 college savings funds into retirement contributions through a Roth IRA rollover. This “savings alchemy” lets families repurpose leftover education savings to support retirement goals, ensuring that funds saved for a child’s education can continue to grow tax-free for their future.
