The 6 Questions You Need to Ask About State of Alaska Retirement The State of Alaska Retirement System offers many benefits to SOA employees, but do you know if you’re 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 […]
Do Alaskans Need Tax Planning?
Is Now a Good Time to Invest in Real Estate?
Wondering if 2022 is the year to purchase another real estate property? Now could be an excellent time to buy – or not. 2021 was undoubtedly a unique year for real estate. With record-low interest rates, more work-from-home opportunities, and a great migration of people moving out of densely populated areas, Americans saw housing prices […]
4 Questions You Must Ask Before You Retire with Your State Retirement Plan
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 […]
What States Don’t Tax Retirement Income?
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.
Continue readingShould You Turn Your HSA into a ‘Medical IRA’?
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 […]
Tis the Season for Charitable Giving
In addition to investing intentionally by aligning your portfolios with your values, I believe in spending intentionally on things that are most meaningful. Studies have shown people have greater happiness when they spend on things they value, such as experiences. With the holiday season on its way, end-of-the-year charitable giving is another way to make […]
Keeping perspective on what you can financially control
I understand that it can be confusing to know what financial decisions are most important to pay attention to and which ones should be left alone or passed off to others. I may encourage you to pay attention to your budget so that you are set enough aside for financial independence. And yet, at other […]
Investing During a Volatile Market
Although economic instability is not directly connected to bear markets, a struggling economy and these unusual circumstances can cause fear that your accounts will lose money with market volatility. The first casualty of a bear market is an investor’s ability to distinguish between temporary volatility and permanent loss. This means that your investments only suffer […]