Everyone aspires to having enough wealth to live worry free. Just how much you need depends on your personal definition of what is enough. Usually growing wealth isn’t possible without some type of spending and savings plan, or a budget. Budgeting is the process of managing your income, expenses and savings to maintain financial […]
Being a State of Alaska employee grants you access to great benefits and retirement planning options. However, you may find that understanding all your options and taking advantage of the best ones for you can be a challenge. Your overall financial picture involves more than just managing your brokerage IRAs and your Empower retirement accounts. […]
As a State of Alaska employee, you have access to excellent retirement benefits. However, you may worry that your state retirement still doesn’t fully meet the financial needs of the life you envision after working. Thankfully, you can take advantage of several options to bolster your retirement income and ensure your golden years are secured […]
The State of Alaska Retirement System offers many benefits to SOA employees, but do you know if you are making the most of the retirement benefits available to you? The truth is, with an abundance of benefits options, you can get easily overwhelmed with all the choices. You want to make the best choice, but […]
The federal and state retirement systems are very DIY, which can leave you feeling overwhelmed and worried that even as you save diligently throughout your career, you don’t know if you’re doing everything you should to ensure a successful retirement.
Here is why you as a federal or state employee should absolutely consider hiring a fee-only financial advisor.
You’ve worked hard your entire career to earn a living and save for retirement. Now, you want to make sure your retirement is protected and lasts as long as possible. You don’t want to hand over a portion of your retirement income to the IRS if you don’t have to.
Unfortunately, many states tax retirement income. Depending on where you live, the money you worked so hard to build up for the future could be subject to taxes down the road. States like Arizona and New Mexico are popular for snowbirding Alaskans; however, it’s important to be aware that they do tax your retirement income.
The good news is that not all states operate this way. Alaska, for instance, does not tax your retirement income at all. However, many Alaskans plan to move out of state for retirement for lower cost of living, easier climates, closeness to family, and access to healthcare.
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Using a financial advisor to help manage your wealth is a great decision. However, not all financial advisors are created equal. Before you entrust your wealth to a professional, here are eight questions you must ask a financial advisor before working with them.
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Health Savings Accounts (HSA) offer a great tax-efficient option for paying your current qualified medical expenses. If you participate in an eligible high deductible healthcare plan (HDHP) and are contributing to an HSA, you might already know this. Something you may not be aware of, however, is that you can leverage this tax-advantaged vehicle well […]
As a professional educator, you spend your time investing in the next generation as an educator or purveyor of knowledge, helping them build a solid foundation for the rest of their lives. You know the importance of planning for the future. You understand how valuable the right knowledge can be for creating a successful life. […]
The pandemic has moved many people into uncharted territory, from experiencing social isolation to figuring out how to work and teach our children at home. Some people are transitioning back to work and some kids are going back to school, but routines are hardly back to normal. These abrupt shifts in living situations are often […]
