Successful investing for retirement and in retirement is not that complicated. The planning process can be complicated, such as when to liquidate certain investments, how much cash to keep on hand, and sticking to your plan, but not the investing process isn’t hard at all.
When reviewing the key differences between Roth accounts and Traditional accounts, it’s important to ask yourself: “When is the most advantageous time to pay tax on my income?”
You may be considering retirement from your cooperative this year. Most cooperatives that participate in the NRECA plan provide you with an annuity option, lump sum option or some variation of both options via your R&S pension plan. If you are not familiar with annuities and their payment options the choices can be a bit confusing. I'm going to list the options with plain definitions that are easy to understand in hopes that it can help you make an informed decision.
It seems there are many people who can't distinguish between risk and volatility. Volatility isn't risk. They aren't the same thing at all.
If you spent ten minutes this year reading economic forecasts, you've wasted ten minutes of your time that you'll never get back. By the way, time is your most valuable asset. Invest it wisely.
The three most common business structures that use the terms are Insurance Companies, Broker Dealers and Registered Investment Advisers. All three are very different in how they run their business and each will specialize in different areas.
The timing of your Social Security benefits can be important. It could make a difference of thousands of dollars in your retirement income. Although there are many factors to consider when making a decision about Social Security (more about that later), it’s fairly simple to calculate your break-even age. Let’s use an example to illustrate the calculation:
Many investors understand the basics of Roth conversions, however just as many do not. In this blog we will discuss the basics of Roth conversions as well as why you might do them, when you might do them and how you actually do them.
When you retire from your cooperative you have several options on how to receive your R&S pension. For example, you can take it as series of payments, you can take it as a lump sum distribution or you can do a combination of both. For those of you interested in the lump sum distribution, I want to make sure you avoid a critical mistake that I have seen retirees make.
Let's Make A Deal! (With your R&S Pension)
I started this firm to help people, specifically electric cooperative employees, with retirement planning. I worked for an electric cooperative for over 11 years and during that time I saw a need for retirement planning above and beyond what NRECA is capable of providing you.
You probably hear the term “financial plan” often, but what does that mean?
The picture associated with this blog shows what the average investor not working with an advisor often does.
It depends on your goals, your long term financial plan, your age even factors into things here. Let's just run through these options real quick.
As your advisor we are a walking talking insurance plan hired to protect one of the largest assets you own, your retirement nest egg. The difference being that unlike most insurance plans we protect you before a disaster strikes, not after the damage has been done.
Retirement has two doors. One leads to a chance of success. One leads to certain failure. Which door will you choose?
