Financial Advisor Ozark, MO

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Time is our most precious resource and I thank you for allowing me to get a few minutes of your time each week. I hope you find the blog helpful and informative. Send me an email if there is ever a topic you would be interested in learning more about. I will research it and write a future blog about it.

Your Cooperative Annuity Payment Options Explained In English

November 25, 2022 Retirement Funding

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.

Should You Take Social Security At Age 62?

November 14, 2022 Retirement Funding

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:

Would You Work The Next Two Years For Free?

November 3, 2022 Retirement Funding Insights

The co-ops are a great place to work, no doubt about it, and I'm sure you love your job but would you do it for free? Because if you are considering retirement soon and wondering if you should retire this year or next year that may be exactly what you are doing. One thing I've found that people totally disregard when they think about retirement is interest rates. Interest rates directly affect your R&S Pension amounts and the dollar amount between retiring this year versus next year could mean that you end up working for free when you could have retired.

The Perfect Retirement Storm Is Brewing!

October 25, 2022 Retirement Funding

If you are an electric cooperative employee and you are 55 or over there is a perfect retirement storm brewing right now until the end of 2022. Here are 2 reasons why you should retire in 2022.

Receiving A Lump Sum Retirement Distribution From Your Co-op? Don't Make This Mistake!

October 21, 2022 Retirement Funding

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.

Retiring From Your Cooperative This Year? Lump Sum or Monthly Pension?

October 12, 2022 Investment Retirement Funding

A 30 year retirement means more than likely facing many surprises with which a flat monthly payment isn't going to help. The lump sum option, invested properly, offers flexibility to meet those surprises, can be strategically invested to provide regular income, and most importantly could possibly change the lives of the loved ones you leave behind.

Why All Of Us Should Embrace Temporary Market Declines

October 3, 2022 Investment Insights

What a wild year so far in the in regards to the market. We've seen volatility like we haven't seen since March 2020 which was the beginning stages of the pandemic. Today I want to discuss why you should actually embrace temporary market declines rather than fear them. Notice I said, temporary market declines. I said temporary because they all are temporary and always have been temporary and will always be temporary. But the good news is:

Volatility Isn't Risk And Temporary Decline Isn't Permanent Loss

September 25, 2022 Retirement Funding Insights

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.

Your NRECA R&S Lump Sum Pensions Are At All Time Highs Until The End Of 2022

September 19, 2022 Retirement Funding

It’s 2022 and interest rates that were at historic lows are steadily moving upwards. This means your NRECA R&S Lump Sum Pension Amounts are at all time highs until the end of 2022 but that could change drastically in 2023.

What Is Money?

September 9, 2022 Investment Retirement Funding

If we know that on average our money is losing a value of between 2-3% yearly, then we know that in 20 years from now our money will have lost about half of its value. Or simply put, in 20 years our cost of living will double. That means if you make $50,000 per year now, you’ll need to be making around $100,000 in 2041 to maintain the same standard of living you have today. So what is your plan in retirement to double your income in 20 years?

Should I Be Investing In A Roth Account?

August 29, 2022 Investment Retirement Funding Minimizing Taxes In Retirement

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?”

Who Wants To Pay As Much Income Tax As Possible?

August 19, 2022 Retirement Funding Minimizing Taxes In Retirement

Here is an example of a potential tax nightmare for the beneficiary of your IRA, 401k, or any retirement account where taxes have been deferred. That's essentially any retirement savings account that doesn't have the word Roth associated with it.

How Long Do Bear Markets Last?

August 2, 2022 Investment Insights Misc.

Since 1948, there have been 10 Bear markets U.S. excluding the one we are in right now. The average number of years from the peak of the Bear market to the recovery, meaning the time it took for the S&P 500 to climb back to its previous highs was 3.9 years and the median/midpoint was 2.7 years. On five of those occasions, the market recovered in 2 years or less! In other words, market downturns feel much longer than they actually are.

3 Tips For A Recession Proof Retirement

July 24, 2022 Retirement Funding Insights

It's July 25, 2022 and in a few days we will know if the American economy is in a recession. I'm already hearing the media spin trying to change the definition of a recession, so let's define what a recession is and what the Gross Domestic Product is and what this means to you. Then we will talk about tips to help you through a recession. And before we start, I urge you not to panic. Recessions are common and often they are exactly what can cure a struggling economy.

Tax Implications of Working While Drawing Social Security

July 18, 2022 Retirement Funding Minimizing Taxes In Retirement

You've made it to age 62 or later and you still want to continuing working but you would also like to draw Social Security to add to or supplement your income. Sounds like a great plan and sometime it is a great plan, but be aware the same government that made you pay Social Security is waiting to tax your Social Security.

Tax Implications Of A Lifetime Monthly Pension Versus A One Time Lump Sum Cash Payment

July 7, 2022 Retirement Funding Insights Minimizing Taxes In Retirement

Many of you will contemplate retirement this year and despite what the news is telling you, if you have a pension plan sometimes referred to as a defined benefit plan at your current employer, this could be a great time to retire. Most pension/defined benefit plans give you the option of taking a series of lifetime monthly payments or a one time lump sum cash payment. This is not a decision to take lightly or a decision to make quickly. This decision will affect you and your family for decades and even generations to come. And it has tax implications!