Your guide for retirement news, insights, and resources
We Need All the Help we Can Get: a plan for an aging population
The term “silver tsunami” has gained traction as a metaphor for our rapidly aging population. However, unlike actual tsunamis that offer little warning, demographic shifts provide ample notice. The question is: Will we use this foresight to prepare, or will inaction leave us vulnerable to the challenges ahead? The Latest… The Department of Health and…
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The Benefits of Learning a New Language in Later Life
Just as our bodies require care and exercise, so do our brains — especially as we age. One way to stimulate those mental muscles is to learn a new language. Admittedly, the research is mixed – there are studies that indicate learning a new language can the onset of dementia, while others say that may…
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Having a Badge Does Not Make You Official
Phone scammers are starting to get hip to the fact that WE’RE getting hip. A larger majority of people are asking the right questions and doing the right thing when receiving phone calls from unknown actors claiming to be from a Federal agency. SO – these bad actors have taken it a step further by…
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Staggered Retirement
Last week in our discussion of J.P.Morgan’s 2019 study Three Retirement Surprises we examined why the conventional wisdom of the 4% rule may not always apply. In a follow up study this year, they examined what happens to spending in households where couples do not retire at the same time. Their data concluded that partially…
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Deed Fraud
In the realm of property-related crimes, deed fraud stands out as a particularly alarming trend. This sophisticated scam involves criminals using forged documents to steal homeownership right from under the legitimate owners’ noses. While it may sound like something out of a crime novel, deed fraud is a very real and growing threat in today’s…
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The Grandparent Scam
The grandparent scam is a cruel tactic used by fraudsters to exploit the love and concern of older adults for their grandchildren. In this scheme, scammers pose as grandchildren in distress, seeking immediate financial help. Despite seeming obvious from the outside, these scams continue to succeed due to their emotional manipulation. Here’s how it typically…
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Navigating the Medicare Sign-Up Process: A Guide for Newbies
Signing up for Medicare can seem daunting, but understanding the process is crucial for ensuring you receive the health coverage you need. This guide will walk you through the essentials of Medicare enrollment, from eligibility to avoiding common pitfalls. Eligibility Medicare is generally available to individuals 65 years or older, younger people with certain disabilities,…
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Understanding Enhanced Catch-Up Contributions for 2025
Last week, we explored ways to maximize your retirement savings before year-end, including taking full advantage of IRA, 401(k), and TSP contributions. This week, let’s look ahead to an exciting development for retirement savers: the enhanced catch-up contributions introduced by the SECURE 2.0 Act, set to go into effect in 2025. These changes could make…
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Maximizing Your Retirement Savings Before Year-End
As the end of the year approaches, it’s the perfect time to take a closer look at your retirement contributions. If you’ve been contributing to your IRA, 401(k), or TSP (for federal employees), now’s the time to ensure you’re making the most of these accounts. Not only can you reduce your taxable income by maxing…
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How Politics Shapes Your Financial Future: A Balanced Perspective
In today’s 24-hour news cycle, headlines about potential policy changes and their financial implications seem endless. While it’s natural to wonder how political shifts might affect your financial future, successful planning requires distinguishing between speculation and strategy. Let’s explore how to maintain sound financial practices amid political transitions. How Politics Shapes Financial PlanningRegardless of which…
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Tax-Loss Harvesting – A Year-End Strategy to Reduce Your Tax Bill
As the year draws to a close, now is an ideal time to review your portfolio for opportunities to reduce your tax liability through tax-loss harvesting. This strategy allows you to offset gains with losses by selling investments that have declined in value, potentially reducing your taxable income. Here’s a closer look at how tax-loss…
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Black Friday, Cyber Monday…blah blah blah: Are You Spending Wisely?
Let’s be honest: there’s something magical about a Christmas tree surrounded by beautifully wrapped presents. The anticipation, the shared excitement of gift-opening, the festive chaos of wrapping paper strewn across the floor – these moments help create the holiday atmosphere we cherish. But as inflation pinches wallets and environmental concerns grow, many of us are…
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Financial Literacy Essentials: Building Blocks for Every Stage of Life
Financial literacy forms the foundation for a secure and confident future. Regardless of age or financial goals, understanding key money management skills can have a lasting impact. While some of these concepts have been covered in prior issues, this week revisits and ties them all together—because sometimes, a bit of repetition is beneficial for reinforcing…
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No 401(k)? No Problem: How Gig Workers Can Still Save for Retirement
Traditional employees often benefit from retirement education and easy access to savings options through their HR departments. Gig workers, however, face the challenge of navigating this information on their own, which can be overwhelming. Many gig workers—freelancers, rideshare drivers, and independent contractors—tend to overlook long-term financial planning. Instead, they focus on short-term financial stability, managing…
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Life Insurance – Yes or No?
Life insurance is one of those financial products we’re all told to get. From advertisements to financial gurus, it seems like the ultimate safety net for everyone. But here’s a radical thought: life insurance is not for everyone. That’s right. Despite its merits, there are scenarios where life insurance might not be the right fit,…
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The Stress of Money – Managing your Mental Wealth
Money-related stress has become a near-universal experience. Countless surveys and studies highlight a surprising truth: financial worry isn’t exclusive to any particular income bracket. Whether you’re living paycheck to paycheck or managing a substantial portfolio, the stress of money can affect us all. Financial stress is a great equalizer. It doesn’t discriminate based on income,…
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Election Guide 2024
*a subscriber exclusive* In this exclusive guide, we explore the potential impact of the upcoming election on your investments, taxes, and retirement. Learn from 90 years of market data, discover common investor mistakes during election years, and get actionable strategies for safeguarding your financial future. Whether it’s Social Security reform or sector volatility, this guide…
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Voluntary Separation Incentives: Should You Take the Buyout?
Federal agencies often offer buyouts, known as Voluntary Separation Incentive Payments (VSIPs), or early retirements, called Voluntary Early Retirement Authority (VERA), during times of budget cuts or restructuring. These programs can be enticing, presenting opportunities to step away from federal service with financial benefits. However, they’re not one-size-fits-all solutions and require a thoughtful analysis of…
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Feeling Stuck? How Federal Employees Can Explore New Opportunities Without Jumping Ship
Recent studies show that federal employees earn, on average, nearly a quarter less than their private-sector peers. For many, this disparity raises questions about career growth and financial security. But before making the leap to the private sector, it’s worth exploring the opportunities already available to federal employees to improve their financial and career outlook.…
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Federal Workforce in Flux: Navigating Uncertainty Under the New Administration
With the Trump administration preparing to take office alongside a Republican-controlled Congress, federal employees face a period of uncertainty and speculation. Proposals such as downsizing agencies like the FDA and Department of Education or creating a new Department of Government Efficiency have sparked concerns and raised questions about what lies ahead. While headlines may suggest…
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FEHB Open Season Final Week Reminder: Last Chance to Review Your 2025 Health Plan Options
With just one week left in the 2025 Federal Employees Health Benefits (FEHB) Open Season, now is the time to make any final adjustments to your health coverage for the coming year. Open Season ends on Monday, December 9, 2024, so use this last week to ensure your plan fits your needs and budget. This…
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Holiday Shopping Discounts for Federal Employees
The holiday season is right around the corner, and with it comes the opportunity to take advantage of exclusive discounts available to you as a federal employee. From electronics to travel deals, there are plenty of savings to be found if you know where to look. Here’s your guide to making the most of your…
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Calculate Your FERS Pension: A Comprehensive Guide
Calculating your FERS (Federal Employees Retirement System) pension is a critical step in planning for your retirement, but it can be confusing. Although federal agencies provide estimates, they don’t always capture your unique situation. Understanding how your pension is calculated and taking responsibility for the process ensures accuracy and helps avoid surprises when you retire.…
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Cyber Scams Targeting Kids: What Every Parent Should Know
With kids spending more time online, they are increasingly exposed to scams designed to catch them off guard. From fake giveaways to phishing attempts in games and apps, these scams can compromise your child’s data—and even lead to unauthorized purchases. Here’s a guide to understanding the types of scams that target kids, with practical steps…
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Breaking the Cycle: How Kids Learn Bad Financial Habits Early and How to Help
Kids absorb financial habits quickly, often without even realizing it. Some of these behaviors—like impulsive spending or avoiding money conversations—can persist into adulthood, impacting long-term financial well-being. By identifying these tendencies early on, parents can guide their children toward healthier financial habits that support a more secure future. Identifying Impulsive Spending BehaviorsMany kids see immediate…
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TSP Loans: Understanding Your Options and Making the Right Decision
A Thrift Savings Plan (TSP) loan can be a useful tool for federal employees who need access to funds while still employed. However, there are several important details to consider before deciding if this option is right for you. Here’s a closer look at the types of TSP loans, the process, and key considerations to…
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FEGLI vs. WAEPA: Choosing the Right Life Insurance for Federal Employees
As a federal employee, life insurance options can sometimes feel overwhelming. Two primary choices are the Federal Employees’ Group Life Insurance (FEGLI) and the Worldwide Assurance for Employees of Public Agencies (WAEPA). While both offer life insurance coverage tailored to government workers, their differences in pricing, coverage, and flexibility can significantly impact your decision. Let’s…
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