Your guide for retirement news, insights, and resources

Economic Deep Dive: Do the Jobs Numbers Even Mean Anything?

03/10/2025

If you’ve ever read a news report saying “Unemployment is at a record low!” while also hearing about waves of layoffs, you might wonder: Which is true? The reality is that official job numbers don’t always reflect what’s happening in the real economy. A low unemployment rate doesn’t mean everyone is thriving, just like rising…

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Managing Debt: Strategies for Turbulent Times

03/03/2025

Debt can be a powerful financial tool when managed well, but in times of economic uncertainty, it can also become a major source of stress. Whether it’s rising interest rates, job instability, or unexpected expenses, having a solid plan for managing debt is crucial to staying financially stable. By taking control of your debt now,…

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Don’t Get Duped: How to Recognize and Avoid Tax Scams

02/24/2025

Tax season is here, and while most of us are busy gathering W-2s and crunching numbers, scammers are hard at work too. Every year, thousands of people fall victim to tax scams that drain bank accounts, steal identities, and create a whirlwind of stress. Let’s break down the most common tax scams, how they work,…

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Reverse Mortgages: A Viable Option or a Risky Bet?

02/17/2025

A reverse mortgage can seem like a lifeline offering access to much-needed cash during retirement. However, understanding the benefits, drawbacks, and potential pitfalls is crucial before deciding if this option aligns with your financial goals. The Basics: How Reverse Mortgages Work Reverse mortgages offer a way to convert home equity into cash without monthly mortgage…

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Protecting Your Biggest Investment: The Realities of Homeowners Insurance

02/17/2025

On Oct 28th of last year, we published an issue on insurance and it was all about protecting ourselves…but what about our homes? Ideally, homeowners insurance is your safety net, shielding you from life’s unexpected disasters. Yet, ask anyone who’s had to file a claim, and you’ll often hear a story of frustration, denial, or…

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The Money Talk: Guiding Your Children Through Career and Education Choices

02/10/2025

In today’s rapidly evolving job market, having honest conversations with your children about career choices and financial independence has never been more crucial. As parents, we want to set our kids up for success, but the traditional path of “go to college, get a good job” may not be the best advice for everyone. Let’s…

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Understanding Cryptocurrency: A Primer for Conservative Investors

02/03/2025

After spending January exploring the fundamentals of financial planning – from estate planning to choosing your professional team, and diving deep into ETFs and mutual funds – we now face a topic we’ve been hesitant to address: cryptocurrency. As your guide to financial literacy, we believe it’s time to tackle this subject, not because we’re…

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Investment Coaching Scams

01/27/2025

Investing can feel overwhelming, which is why some turn to coaching programs for guidance. But not all offers are what they seem. Scammers often prey on your desire for financial success, promising secrets to wealth through investment strategies – only to leave you with empty pockets. Investment coaching scams have become increasingly prevalent in today’s…

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The Art of Letting Go: How Simplifying Can Boost Your Retirement Well-Being

01/20/2025

When it comes to retirement planning, most of the focus is on saving money, maximizing investments, and preparing for the future. But what about simplifying your life now? Decluttering both physical and mental spaces can significantly reduce stress and improve your focus, giving you the clarity to align your decisions with what truly matters for…

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DIY or Delegate? How to Decide Which Financial Tasks to Take On Yourself

01/13/2025

There’s a lot of buzz about taking control of your finances – and for good reason. Knowledge is power, and being hands-on with your money can save you time and fees. But not everything should be a do-it-yourself project. Here’s how to decide what’s worth tackling solo and when it’s smarter to call in the…

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How Do My Skills Transfer? Making a Career Shift After a Layoff

03/10/2025

Losing a job can feel like the rug has been pulled out from under you. Even more frustrating is hearing that companies are desperate for workers while you’re struggling to get interviews. If the job market is so strong, why is it so hard to find a new role? The answer isn’t always about your…

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Building an Emergency Fund: Your Financial Safety Net

03/03/2025

Life is unpredictable. A sudden job loss, medical emergency, or unexpected home repair can throw even the best financial plans off track. That’s why having an emergency fund isn’t just a good idea – it’s essential. An emergency fund provides a financial cushion that helps you cover unexpected expenses without relying on debt or disrupting…

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The Power of Expense Tracking: Navigating Financial Uncertainty

03/03/2025

Financial uncertainty is a fact of life. Whether it’s rising costs, job instability, or unexpected expenses, economic shifts can happen anytime. The good news? You have more control than you think. One of the simplest yet most powerful ways to gain financial clarity is by tracking your expenses. At first, tracking expenses might seem tedious…

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Making Sense of Your Tax World: A Guide for Every Stage

02/24/2025

Get Our Complete Tax Season Playbook: Ready to master your tax planning? Subscribe now to access our comprehensive 12-chapter Tax Season Playbook, your complete guide to making tax-smart financial decisions:  https://myretirementnetwork.com/subscribe Once you receive your welcome email from [email protected] simply reply with ‘Send Tax Guide” and we’ll make sure to reply with your private link…

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The Ownership Illusion: Is Homeownership Still the American Dream?

02/17/2025

Owning a home has long been a cornerstone of the American Dream, and recent surveys show that sentiment hasn’t changed. According to Realtor.com and Bankrate, homeownership remains a top priority for many Americans. Even those who anticipate challenges in achieving it still view owning a home as a key marker of success and an essential…

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Smart Strategies for Education Funding: Unlocking the Benefits of 529 Plans and Tackling the True Costs of College

02/10/2025

Planning your child’s education is a pivotal financial milestone, and with college costs continually rising, having a solid strategy is more important than ever. While grants, scholarships, and student loans can help bridge the gap, these options are often uncertain and difficult to plan for in advance. This guide focuses on the key savings tools…

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2025 Market Outlook: Putting Your Financial Knowledge to Work

02/03/2025

Now that we’re a month into 2025, we can begin to see how the year is taking shape and evaluate the major forecasts with fresh eyes. Over the past few weeks, we’ve explored the fundamentals of financial literacy – from understanding different types of investment accounts to breaking down various asset classes and investment strategies.…

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Understanding Investment Fees: What You’re Paying For and Why It Matters

01/27/2025

When it comes to investing, fees might not be the most exciting topic, but they’re one of the most important. We keep talking about keeping fees low and leaning toward ETFs – but in the end that is a personal decision as mutual funds do come with some added benefits. So in order to arm…

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Your Investment Starter Pack: Essentials and First Steps

01/27/2025

Starting your investment journey might feel overwhelming, but it doesn’t have to be. With a clear plan and the right approach, you can set yourself up for long-term success. Over the last two weeks, we’ve covered the importance of building the right financial team and understanding your investment account options. Now, it’s time to take…

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Where to Start: Choosing the Right Account for Your Investments

01/20/2025

For many people, the hardest part of investing is simply figuring out where to begin. After all, understanding ETFs and mutual funds is one thing, but knowing where to hold those investments is another challenge altogether. Let’s break down the basics of different types of investment accounts to help you understand how they work and…

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Cyber Scams Targeting Kids: What Every Parent Should Know

11/18/2024

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

11/18/2024

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

11/11/2024

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

FEGLI vs. WAEPA: Choosing the Right Life Insurance for Federal Employees

10/28/2024

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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financial wellness survey

TSP Financial Wellness: Insights from the 2023 Survey and Beyond

10/21/2024

As we approach the midpoint between the Federal Retirement Thrift Investment Board’s biennial Financial Wellness Surveys, it’s an opportune time to reflect on the findings from the 2023 survey and consider how they might inform our financial planning strategies moving forward. This biennial survey, combined with discussions from the January 2024 FRTIB meeting, paints a…

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long term care

Will FLTCIP come back?

10/07/2024

In light of our article today on long-term care, you may be wondering about the ongoing suspension of the Federal Long Term Care Insurance Program (FLTCIP). This blurb focuses on whether new applications for FLTCIP will be reinstated in the future and is not referencing current enrollees and their decisions about premium increases. The suspension…

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Staying Prepared: A Federal Employee’s Guide to Weathering Government Shutdowns

09/30/2024

As a federal employee, the threat of a government shutdown is a recurring challenge that requires concrete preparation. While these situations are often resolved before they reach a critical point, it’s crucial to be prepared for any eventuality. This article will guide you through steps to ensure you’re always ready, with a special focus on…

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Federal vs Private Sector: Compensation Trends and Job Realities

09/23/2024

A recent Congressional Budget Office (CBO) report comparing federal and private sector employee compensation in 2022 has revealed significant shifts in the landscape of public vs. private employment. This analysis, combined with real-world observations, provides a nuanced view of the pros and cons of government jobs in today’s labor market. New CBO Findings: Shifting Compensation…

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FERS Options for Deferred or Postponed Retirement

09/16/2024

While “deferred” and “postponed” are often used interchangeably to mean delaying an action, they have distinct meanings in FERS retirement. Understanding these differences is crucial for federal employees planning their retirement. Deferred Retirement is for FERS employees who leave service before reaching their Minimum Retirement Age (MRA). It requires at least 5 years of creditable…

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TSP Withdrawals After Service

TSP Withdrawals After Service

09/03/2024

Navigating the complexities of Thrift Savings Plan withdrawals after separating from federal service can be daunting. Here is an overview of the key points to help you understand your TSP options after retirement. Your three-legged stool of retirement income includes three primary components: Pension, Savings (TSP), and Social Security. As you well know, your contributions…

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