It’s great to work because you love what you do, but most of us work because we’re taking care of ourselves and our loved ones. A well-chosen policy can protect your pension while you work.
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Saving for retirement is as important as choosing which accounts you save into. If you’ve saved a lot of money in a traditional individual retirement account (IRA), 401(k), or 403(b), you might want to consider a Roth conversion.
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How will your assets be distributed after death? It’s important to know the difference between your estate documents and your beneficiary agreements.
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Navigating your finances without a budget is like taking a hike into the wilderness without a map; if you’re not careful, you’ll end up in treacherous terrain. You may think you have a good idea of how much you spend, but...
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Teachers, did you know? You may be able to deduct out-of-pocket expenses when you file your tax return! That's right! The Educator Expense Tax Deduction can offer you some financial relief… When it comes to making sure students...
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2021 is almost over and now is a great time to give your finances a careful once-over in order to maximize your tax savings and make sure you're still on track to reach your goals. Taking this time before the end of the year to make...
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TAX INFLATION ADJUSTMENTS[1] The Internal Revenue Service today announced the tax year 2022 annual inflation adjustments, including the tax rate schedules and other tax changes. The tax year 2022 adjustments described below generally...
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Did you know that September is Life Insurance Awareness Month (LIAM)? Every year in September, the financial industry comes together to help educate people about the importance of life insurance. While owning life insurance is integral...
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Financial planning can help you make the most of your money through tax planning, budgeting, and saving. Financial planning isn’t just about investments or planning for retirement, and it’s not only for wealthy or older...
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You may not need to use your RMDs, your Required Minimum Distributions, when you are first required to start taking them. Know your investment options for reinvesting them… What is an RMD? Once you reach age 72, the IRS...
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Compound interest is one of the most important concepts to understand when managing your finances. It can help you earn a higher return on your savings and investments, but it can also work against you when you're paying interest on a...
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You know how the saying goes: the only sure things in life are death and taxes. And even though 2020 was an unprecedented year in many ways, we still have to file taxes for it. Since you may be still reeling from the pummeling 2020...
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With the end of 2020 in sight, we understand if you want to hide under a blanket and wait for the new year to pass. But even with the drudgery of a year in isolation, the turn of the new year calls for a reset and refresh for your...
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TAX INFLATION ADJUSTMENTS[1] The Internal Revenue Service today announced the tax year 2021 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. The Consolidated...
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In the event of a major life change, it is common for families to overlook updating beneficiary information. Keeping this information up to date is vital in order to avoid consequential mistakes in the future. What could happen to...
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With all the information and online trading options available now, many people are choosing to manage their investments on their own. Many do-it-yourself projects require spending a great deal of hours doing research to teach yourself...
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Do you know what you are paying for? The question may actually not be as easy to answer as it sounds… While you’d assume fees would be relatively minimal, some products can carry hefty costs, and they aren’t always...
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Now is a good time to remember that long-term investment goals tend to survive temporary market shifts. Any time you see a swing in the markets and a drop in your account balance, emotions are going to arise. Here are some steps on how...
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Head into the new year with clear tasks in mind for your financial goals. TAX BREAKS[1] The tax law changed and you may not be aware of all the tax breaks you are eligible to receive. Some standard deductions continue to climb in 2020...
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3 WRENCHES THAT COULD THROW YOUR RETIREMENT INCOME PLAN OFF TRACK For people just starting to save and people who have been diligently saving for retirement for a while, a frequent question is “How much savings do I need?”...
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Preparing for retirement requires a lot of planning and financial strategy. Most NYSRS members will receive a service retirement benefit upon completion of their public service careers. Eligibility for retirement, disability, and death...
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Head into the new year with clear tasks in mind for your financial goals. TAX BREAKS[1] The tax law changed and you may not be aware of all the tax breaks you are eligible to receive. The standard deductions almost doubled for 2019 to...
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Just the thought of retirement and planning for it can cause anxiety. Many feel overwhelmed and unprepared. After all, making certain mistakes early on can have dire consequences on your future, particularly as you get closer and...
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Your ability to build wealth does not just depend on your current situation, but heavily depends on your behaviors. Researchers at DataPoints looked at the habits of the affluent and found certain traits to be key to building wealth....
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Take a look to see if you stand tall next to other Americans saving for retirement. It can be a good practice to gauge how you compare to other Americans when it comes to your finances. Take into consideration your earnings, debt,...
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As the end of 2017 approaches, the IRS is encouraging taxpayers to consider a tax withholding checkup. Taking a closer look at the taxes being withheld now can help ensure the right amount is withheld, either for tax refund purposes...
Read MoreDo you know how your TSA/403(b) money is invested? Watch our short video explaining the different investment options available for your TSA/403(b) account.
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Sunday, June 4, 2017
As a school employee, you enjoy the benefit of a guaranteed lifetime income through your pension plan that many people don’t have access to. Did you know that most pension plans do not provide enough coverage alone for most...
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Sunday, May 28, 2017
Finances are one of the leading causes of stress among workers. According to the PricewaterhouseCooper's (PwC's) 2016 Employee Financial Wellness Survey, 52% of employees are stressed about financed and 46% spend at least 3 hours...
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