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.
Continue reading
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 […]
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 […]
