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Why 62 Is the Magic Age for FERS Employees to Retire
When federal employees are trying to choose a time in their life to retire, there is often some confusion because there are so many factors to consider. We often hear that 62 is the “magic” age for FERS employees to retire. Have you ever wondered why? Let’s break it down: There are three potentially significant incentives for FERS employees to [...]
Becoming Your Family’s Historian
Genealogy can be a truly fascinating hobby, and uncovering your family’s history can bring the past to life in a fresh and personal way. If you’re someone who loves history or is just interested in how your own story fits into the larger human narrative, researching your ancestry offers a meaningful way to connect with the generations that came before [...]
Horsepower vs Speed: Understanding Risk Capacity and Risk Tolerance
Do you have a lead foot when you drive? Or are you a bit more cautious behind the wheel? Think of the sportiest cars you’ve seen on the road: The car is capable of comfortably reaching speeds exceeding 150 MPH, but as the driver, how comfortable would you be traveling beyond 150 MPH? In the world of finance, the difference [...]
Components of Long-Term Tax Strategy
Many people may view taxes as a seasonal hurdle or a frantic scramble every spring to satisfy the IRS. But if you only think about taxes once a year, you may expose more of your hard-earned dollars to taxes than is necessary. A true long-term tax strategy goes beyond the annual filing ritual; it’s about the additional return you may [...]
Trump Accounts: Building Wealth for the Next Generation
As a parent, you might be looking for ways to provide for your children’s long-term financial goals. You may have heard of 529 accounts to help save for higher education or brokerage accounts (including UTMA & UGMA custodial accounts), but there’s a new option available starting this year: Section 530A accounts, also known as Trump Accounts. Established under the [...]
The Three Tax Buckets
Benjamin Franklin said there were only two things certain in life: death and taxes. And while you can't avoid taxes, for certain accounts and savings, you can choose when you want to pay them. To explain how the growth in your investments is taxed, consider that there are three tax buckets: “tax me now,” “tax me later,” and “tax me [...]
Debt, Credit, and Honoring the Favor
What does debt mean to you? You might view “debt” as a dirty word, accompanied by the shackle of interest rates and missed payments. But you might view “credit” differently. Credit is seen as a financial tool, and a good credit score as something to be nurtured and coveted. We treat them as distinct financial products. However, as the late [...]
The Rise of Consumer Credit and How to Manage Your Own
How often do you use a credit card? Perhaps you even use more than one. In today’s economy, the small rectangle of plastic (or metal) in your wallet is more than just a tool for buying groceries; it is a gateway to a complex financial ecosystem. To truly understand credit cards, we have to look into the history, economics, and [...]
