As a small-business owner, it’s easy to stay focused on running your company and put your own financial future on hold. But without a clear retirement plan, your hard work may not translate into long-term security. This guide breaks...
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We understand that as an educator contemplating the transition from work to retirement, you may have several questions about when and how you can retire. This report addresses common questions and offers strategies to help you prepare...
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They’re called “long-term” goals to remind us to avoid short-sighted missteps. Markets are swinging. We’re coming off a high in 2021 and into a time of rising interest rates meant to combat rising inflation...
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Don't Wait to Plan for These Three Areas The countdown to retirement can be an exciting time, filled with dreams of newfound freedom. However, this pivotal life stage demands careful planning to ensure your financial security and peace...
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Being afflicted by a disability that prevents you from working is an unfortunate possibility for anyone. Here, we answer some commonly asked questions relevant to New York State educators in this situation...
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Managing finances can be challenging. Many people struggle to navigate the intricacies of budgeting, investing, and long-term financial planning. While some prefer personally managing their money, others find value in working with a...
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For those just starting to save, and even for those who've been diligently socking away money for years, a common question lingers: "How much do I really need for retirement?" It's a crucial question, and forming a solid retirement savings.
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The Internal Revenue Service announced the tax year 2025 annual inflation adjustments, including the tax rate schedules and other tax changes. The tax year 2025 adjustments described below generally apply to tax returns filed in 2026...
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Experience has taught us that successful investing requires discipline and patience. When emotions run high, it can be easy to lose focus on your investment strategy. To help you overcome these challenges, we’ve compiled a list of...
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Ready to trade in lesson plans for leisure time? After dedicating years to shaping young minds, your retirement is well-deserved! It's a big step with long-term implications, so questions are natural. We've helped countless educators n...
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Finances can be complicated, especially as your money starts to grow over the years and your situation gets more complicated. That's where a financial advisor comes in.
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You've worked hard over the lifetime of your career, and now it's almost time to enjoy a well-deserved retirement. But where do you start?
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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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Monday, June 3, 2024
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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Common questions educators have about filing for retirement After years of serving students in your community it is time for you to plan a well-earned retirement! It is an important decision with lasting repercussions, so it is normal...
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For many Americans, tax season provokes a mix of stress and anticipation. The potential for a refund is exciting, but the prospect of paperwork and deadlines… not so much. But fear not, fellow taxpayer! With some preparation and...
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If you are looking to plan for your child's future beyond education expenses, you have options if you have unused 529 funds, thanks to a provision in the SECURE 2.0 Act....
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Most people set aside money for their nest egg over the course of their working lives, and some end up with multiple account plans. Is it a good idea to consolidate into one retirement account or is it preferable to have several?
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Wednesday, November 8, 2023
The Internal Revenue Service announced the tax year 2023 annual inflation adjustments, including the tax rate schedules and other tax changes.The tax year 2023 adjustments described below generally...
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Well, as is often said, it’s that time of year again. The holiday season is just around the corner, and with it comes extra expenses in the form of presents, get-togethers, travel, eating out, and parties. But you don’t...
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Using Environmental, Social, and Governance data provides additional insight for making educated investment decisions. In a lot of ways, investing is an art and a skill: An experienced investor evaluates lots of different kinds...
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Insurance is the ultimate protector of your loved ones, your wealth, and your peace of mind. At every stage of life, it's crucial to have the right coverage to shield yourself and those you care about from unexpected financial blows....
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See how your finances and retirement savings compare to average Americans.
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Are inflation and interest rates leading towards a recession? Rising inflation and interest rates may have you concerned about the state of the financial markets and economy. High inflation and interest rates can lead to a period...
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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 73, the IRS...
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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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The final version of the SECURE 2.0 Act of 2022 has passed. Here’s what that means for your retirement account.
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Keep yourself accountable to make your goals a reality
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Thursday, December 8, 2022
The Internal Revenue Service announced the tax year 2023 annual inflation adjustments, including the tax rate schedules and other tax changes.The tax year 2023 adjustments described below generally...
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Wednesday, September 21, 2022
Compound interest can be your plan's biggest booster. Building a decent retirement savings can seem like a daunting task when you first set out. A decent understanding of compound interest is one of the most powerful tools at your disposal.
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According to research, 22% of Americans have less than $5,000 saved for retirement, and 15% have no retirement savings whatsoever. State-mandated retirement plans are being instated across the U.S. in response to this retirement...
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It’s only human to be worried about a market downturn. But is that fear rational?
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Do 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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A new law is set to change the way your retirement works for you, mostly for the better. Here’s some of what the proposed law could change about your retirement account...
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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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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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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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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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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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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...
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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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