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Are Resolutions Worth It?
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The 457(b) Special Catch-Up
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What Is It That You Want To DO?
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Put Your Money to Work for You
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Social Security / Ponzi Comparison – is it fair?

Are Resolutions Worth It?

After the first of the years it’s common of individuals to aspire to change their lives for the better. Many individuals come up with New Year’s resolutions – with aspirations of accomplishing certain goals or tasks that have eluded them in the past. But do resolutions really work? In other words, what good is a resolution without action? Granted, I am being nitpicky. But think of it this way. If I were to write down a handful of resolutions that I wanted to achieve in 2019 and beyond – they would simply be words on paper. Don’t get me wrong, having the resolutions or goals listed is an excellent start, but again, until they’re acted upon, nothing will happen. All the words and intentions in the world are nothing without action. So how can we convert resolutions into measurable acts? First, do one thing today that is an action toward […]

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The 457(b) Special Catch-Up

If you’re a governmental employee, you may be aware that your employer offers a 457(b) retirement plan. Additionally, you likely know that like a 401(k), the 457(b) allows you to contribute $19,000 annually to the plan with an additional $6,000 catch-up for those aged 50 or older. What you may not be aware of is the special catch-up provision the 457(b) offers. This special catch-up provision allows a governmental employee that is within 3 years of the normal retirement age (as dictated in the plan) to contribute up to twice the annual amount ($38,000 for 2019). To take advantage of this special contribution the plan sponsor (employer) must allow it in the verbiage of the plan. Additionally, the employee must have unused contribution amounts from prior years. In other words, an employee can contribute twice the amount normally allowed if that employee has unused contributions from prior years; they didn’t […]

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What Is It That You Want To DO?

Note: Taking a little break from tax law and retirement planning for the day… One of the questions that I often ask folks as we’re working on financial matters is – “what is it that you want to DO?”  And in this case, DO is capitalized to be emphatic, because the context of the question is with regard to life.  “What is it that you want to DO in your life?” Deep down, we all have the desire to matter.  We want to, in some way, create a legacy of our life, so that this time we’ve spent here doesn’t seem like we’ve wasted our chances.  Not that what we do every day – caring for our families, performing our job, etc., is a waste of time.  But if we’re not cognizant of a greater purpose for our life, oftentimes life seems unfulfilled.  It doesn’t have to be grandiose, we […]

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Put Your Money to Work for You

According to Yahoo! Finance, 1 in Every 4 Americans is Working this Labor Day and Their Hard Work is Going Unappreciated. The article made mention of a contest in which U.S. laborers can win a paid day off. There is always some working at something in order to keep things going. You might not want […]

©Bring Clarity to Your Finances™. Put Your Money to Work for You is a post from Bring Clarity to Your Finances™

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