There is an old saying that claims, “It’s not how much you make that’s the most important, but how much you keep.” Uncle Sam does his best to take at least a portion of everything we make. It is up to us to understand tax laws and retain as much as possible. Tax planning is different from investing in that we have
There has always been a lot of discussion about whether or not it’s worth it to work with an advisor. If you have considered working with an advisor, you have probably thought of this question: “how do I know you aren’t a Bernie Madoff?”
Most federal employees I talk to will carry life insurance in their younger days, but don’t plan on having any in retirement. But are those intentions well thought out?
The Federal Retirement System is meant to be a three part system comprised of the FERS Annuity, Social Security, and the Thrift Savings Plan. Because Social Security makes up 1/3 of the federal retirement program
What happens, or better yet doesn’t happen when you work from home and aren’t able to go out in public? Most of us won’t spend as much money! Add that fact to the upcoming stimulus payments and there is a good chance that many federal employees are flushed with cash right now.
The new SECURE Act rules dictate that inherited IRAs need to be distributed within a 10 year time period. There are a number of other changes implemented with the SECURE Act, but
A market downturn, or bear market, can be scary for even the most seasoned investors. Investors can easily run through a rollercoaster of emotions--from the highest of highs to the lowest of lows—in just a week’s time. This cycle of uncertainty will cause many investors
What should a federal employee do with their Thrift Savings Plan when the market is going down like it has been? Is it a good time to cut losses and move it all to the G fund? This was a major question in 2008 and 2009 and has once again made a comeback
Retiring can be one of the biggest decisions a person makes in their lifetime and should not be taken lightly. Preparation can be a key component to an enjoyable and financially secure retirement. If you plan to retire this year
A large percentage of people choose to do their own investing and financial planning. Like anything else, this isn’t necessarily a bad thing if it is done well. The obvious question that arises is: Is it done well, and what are the most common mistakes that people make?
The Thrift Savings Plan (TSP) is a great tool for federal employees to save for retirement. Saving, and even maxing out your contributions to TSP is normally thought of as a good thing. Yes, maxing out your TSP can be very beneficial, but may not
This law affects many aspects of retirement that are sure to have an impact on the middle class and their beneficiaries. If you are near retirement, just beginning to save, or nearing the magical age of 70
oday’s world is full of do-it-yourselfers, and rightfully so due to our access to information. Anything from house repairs to car repairs to investing can be done on your own, but the question I ponder is, “Is it worth it?” There are some things we can do on our own that we simply choose not to
The TSP is designed to make up one third of federal employee’s retirement income, but taking money out of it can be a tough decision. One of the most common distribution strategies I have heard is, “I’m going to wait until 70.” What does “I’m going to wait” mean?