If you are eligible for the NRECA R&S Plan, you MUST consider the tax scenarios when deciding whether to take the lump sum option or the annuity option. You essentially have a winning lottery ticket and just like a real lottery ticket, the IRS is waiting for their piece of the action.
If I claim SS at 62 and decide I want to work will SS lower my monthly benefit? Will I get that money back? Am I losing that money?
If someone you love passes and leaves you as the beneficiary to an Individual Retirement Account (IRA), what should you do? Like the answer to most personal finance questions, it depends.
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?”
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 the investing process isn’t hard at all.
If you spend 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.
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.
Have you ever watched an NFL football game? While watching the game did you compare either team to your favorite baseball team? Probably not because they aren’t playing the same game. As a retirement income planner, I often get questions from clients and potential clients on outperforming the market or investment performance in general. Maybe they heard on the “financial news” that the market was up X percentage that day, month or even that year and they wonder why their retirement portfolio isn't up the same percentage. Well simply stated, I am not a day trader or short-term trader. I’m a long-term, goal focused, plan-driven investor. I’m not playing the same game as the so-called “experts” on TV and radio, etc. I’m not playing a day to day game. I’m not even playing a year to year game.
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.
Does the upcoming election mean it's time to reassess your portfolio? A historical look at presidential elections & the stock market can help you decide.
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:
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.
On August 5, 2024 and you probably woke up to doom and gloom on the news today about Japan’s stock market and how it’s crashing and how that’s going to affect the US stock market and basically how the world is ending. The world is not ending by the way.
Everyday cooperative employees retire. Some of these retirees take the lump sum option and "rollover" that money to an Individual Retirement Account (IRA) or they "rollover" that money into their NRECA 401k. They may be working with a financial advisor or they may have decided that they don't want to pay an advisor and they want to do it themselves. This blog is speaking to the do it yourselfers.
Thinking about retirement? Thinking about investing in general? Trying to decide when or if you'll have enough money? Here's a quick financial tip that you can use right this minute. It's called the Rule of 72.
Every single day each one of us is inundated and sometimes overwhelmed by the tsunami of noise from the 24 hour "news" cycle. Much of it centers around timing of the market and the perfect selection of funds. The "experts" say things like "Big correction coming soon!" or "Here's the three next big technology stocks to jumpstart your portfolio!" and "Inflation is coming, buy gold now!" on and on and on.
