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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 Thumbnail

Your Cooperative Annuity Payment Options Explained In English

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.

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Should You Take Social Security At Age 62? Thumbnail

Should You Take Social Security At Age 62?

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:

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Would You Work The Next Two Years For Free? Thumbnail

Would You Work The Next Two Years For Free?

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.

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

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

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.

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What Is Money? Thumbnail

What Is Money?

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?

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3 Tips For A Recession Proof Retirement Thumbnail

3 Tips For A Recession Proof Retirement

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.

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

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

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!

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Buy High and Sell Low or Sell Low and Buy High? Thumbnail

Buy High and Sell Low or Sell Low and Buy High?

The picture associated with this blog shows what the typical investor not working with an advisor often does. They buy high and sell low which is the exact opposite of what you should do. And I'm seeing that happen right now everywhere I look. When the market goes down it's normal to panic but should you actually get out of the market and sell your investments?

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The Biggest Misconception In Retirement Thumbnail

The Biggest Misconception In Retirement

As I write this blog in August 2022, we are currently getting a master class on how inflation can affect retirement planning and your purchasing power in general. Probably the biggest misconception I see when talking to retirees or soon to be retirees is that they don't account for 30 years of inflation in retirement. I hear statements like "Our retirement income will more than cover our living expenses in retirement." To which my question is this: Are you certain that your retirement income today will buy your favorite box of cereal 30 years from now?

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