80/20 Financial Services-Blog

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Time is our most precious resource and I thank you for allowing me to get a few minutes of your time each week. I hope you find the blog helpful and informative. Send me an email if there is ever a topic you would be interested in learning more about. I will research it and write a future blog about it.

Would You Work The Next Two Years For Free?

November 3, 2022 Retirement Funding Insights

The co-ops are a great place to work, no doubt about it, and I'm sure you love your job but would you do it for free? Because if you are considering retirement soon and wondering if you should retire this year or next year that may be exactly what you are doing. One thing I've found that people totally disregard when they think about retirement is interest rates. Interest rates directly affect your R&S Pension amounts and the dollar amount between retiring this year versus next year could mean that you end up working for free when you could have retired.

The Perfect Retirement Storm Is Brewing!

October 25, 2022 Retirement Funding

If you are an electric cooperative employee and you are 55 or over there is a perfect retirement storm brewing right now until the end of 2022. Here are 2 reasons why you should retire in 2022.

Retiring From Your Cooperative This Year? Lump Sum or Monthly Pension?

October 12, 2022 Investment Retirement Funding

A 30 year retirement means more than likely facing many surprises with which a flat monthly payment isn't going to help. The lump sum option, invested properly, offers flexibility to meet those surprises, can be strategically invested to provide regular income, and most importantly could possibly change the lives of the loved ones you leave behind.

Your NRECA R&S Lump Sum Pensions Are At All Time Highs Until The End Of 2022

September 19, 2022 Retirement Funding

It’s 2022 and interest rates that were at historic lows are steadily moving upwards. This means your NRECA R&S Lump Sum Pension Amounts are at all time highs until the end of 2022 but that could change drastically in 2023.

Who Wants To Pay As Much Income Tax As Possible?

August 19, 2022 Retirement Funding Minimizing Taxes In Retirement

Here is an example of a potential tax nightmare for the beneficiary of your IRA, 401k, or any retirement account where taxes have been deferred. That's essentially any retirement savings account that doesn't have the word Roth associated with it.

Tax Implications of Working While Drawing Social Security

July 18, 2022 Retirement Funding Minimizing Taxes In Retirement

You've made it to age 62 or later and you still want to continuing working but you would also like to draw Social Security to add to or supplement your income. Sounds like a great plan and sometime it is a great plan, but be aware the same government that made you pay Social Security is waiting to tax your Social Security.

Tax Implications Of A Lifetime Monthly Pension Versus A One Time Lump Sum Cash Payment

July 7, 2022 Retirement Funding Insights Minimizing Taxes In Retirement

Many of you will contemplate retirement this year and despite what the news is telling you, if you have a pension plan sometimes referred to as a defined benefit plan at your current employer, this could be a great time to retire. Most pension/defined benefit plans give you the option of taking a series of lifetime monthly payments or a one time lump sum cash payment. This is not a decision to take lightly or a decision to make quickly. This decision will affect you and your family for decades and even generations to come. And it has tax implications!

Investing Can Be Scary Especially During Scary Times

March 31, 2022 Retirement Funding Insights

The past two years have been the most terrifying years for investors since the Global Financial Crisis of 2008-2009. First the pandemic, next a bitterly partisan presidential election and most recently a 40 year high inflation spike. You wouldn't be human if you haven't experienced market volatility fatigue and exhaustion at some point. I know I have. You might also not be human if after two years of this chaos you didn't want to ditch your financial plan and move all your investments to cash for "safety" and to get some rest from the constant volatility.

Could You Retire Now?

March 10, 2022 Retirement Funding Insights

Without a doubt this is the number one question and concern I hear from people in regards to retirement. So let's talk about this and see if you can retire and have enough money to retire without running out. I think these are questions I can answer with a certain amount of confidence and hopefully I can give you some clarification in the process.

Are Your Investments Performing Well?

January 11, 2022 Investment Retirement Funding

Performance calculations for a portfolio on a monthly statement can be very complex and over a 30-year retirement even totally meaningless. Remember as long-term goal-focused investors, we don’t chase performance, we chase outcomes. If your portfolio is up 25% this month or year congratulations! But will that matter in 15 years if you run out of money??? Retirement is a marathon, not a sprint.

Should You Get Out Of The Market Because Of The National Debt?

September 30, 2021 Investment Retirement Funding Insights

Every night in the news or in any news article we read we hear about the government spending trillions of dollars on some new bill that's going to change the world. As our national debt snowballs it makes one wonder, will it affect your investments at some point?

Should You Take Your Cooperative's Lump Sum Offer or the Lifetime Pension Annuity Offer?

September 7, 2021 Retirement Funding

So you are closing in on retirement, and you are faced with a difficult choice regarding your defined-benefit pension plan: Should you accept the traditional, lifetime monthly annuity payments or take the lump sum distribution?

How Much Money Do You Need To Retire From Your Cooperative?

April 19, 2021 Retirement Funding Insights

Do you know how much money it's going to take for you to retire from your cooperative comfortably?

What Can We Learn From The GameStop Debacle?

February 2, 2021 Investment Retirement Funding Insights

"The majority, if not all, of financial input you get from the "news" is journalistic. And journalism by nature, stays in business by selling you the news which is timely, as opposed to the truth, which is timeless." Nick Murray

The Social Security Administration Has Announced Cost of Living Adjustments & Tax Changes For 2021. Here's What You Need to Know

October 19, 2020 Retirement Funding

The Social Security Administration announced a 2021 Cost of Living Increase of 1.3% on Oct. 13, 2020. Whether you’re currently working or enjoying retirement, here’s how you may be affected.

Back to Basics: 9 Common Insurance Mistakes to Avoid

September 28, 2020 Retirement Funding Misc.

Choosing an insurance policy that works best for you and your family is so important. When you shop around and find the correct one, it can not only benefit your health but save you money.