Retirement Planning for Volunteer Firefighters
Nearly 70% of U.S. firefighters are volunteers, showing up for their neighbors for little or no pay. ¹ Yet only about 1 in 5 volunteer firefighters has any kind of retirement program to fall back on. ² Basically, most volunteers are on their own when it comes to retirement. You’re not in it for the […]
Roth-Only Catch-Ups Deferred: Roth Contributions for 60–63 Year Olds Now Start in 2026
Only about 15% of workers eligible for catch-up contributions actually take advantage of them, even though they can supercharge retirement savings¹. If you’re a firefighter over 50, those extra catch-up contributions let you stash more in your 457(b) or 401(k) each year. And if you’re in your early 60s, Congress even decided to boost your catch-up […]
Big Beautiful Bill: How Firefighters’ Retirements are Affected
By now, you’ve probably heard the buzz around the Big Beautiful Bill. It’s a massive federal law that rolled a bunch of changes into one package, from tax cuts to government reforms. But what does it actually do for firefighters like you? In short, it changes some tax rules and federal pension contributions in ways […]
Five Years Out: Last-Minute Financial Moves Before Firefighter Retirement
The average firefighter hangs up the helmet around age 52 – nearly a decade earlier than many other workers.[1] Yet, the typical firefighter’s pension often replaces only 50–70% of their working income. That means without extra planning, you could face a big income gap. The good news is that if you’re about 5–10 years from […]
Retiring Out-of-State: What Firefighters Should Know Before Relocating
After decades in the fire service, you might be dreaming of a sunny, affordable place to retire. More than 338,000 Americans relocated for retirement in 2023, a 44% jump from 2022, and roughly one-quarter of those retirees moved to a different state. (1) Naturally, plenty of firefighters also consider hanging up their helmets and moving […]
Backdoor Roth Contributions for Firefighters
The median firefighter in the U.S. earns around $60,000 a year – yet most firefighter pensions replace only about 50–70% of that income. [1] Do the math, and that could mean living on maybe $30–40k in retirement, a serious hit to your budget after decades of service.[2] Plus, the average firefighter hangs up the helmet […]
Post-Career Pivot: Managing the Psychological Side of Retirement Money
Retirement from the fire service isn’t just clocking out one last time. It’s a leap into a whole new way of life. There’s the obvious financial shift (no more overtime or steady paychecks, hello pension checks or tapping savings), but there’s also a huge mental shift. Suddenly, you are the one writing checks to yourself. […]
Safe Growth and Lifetime Income: The Power of Indexed Annuities for City of Elizabeth Workers
In the first part of this series, we dug into the nuts and bolts of the new 457(b) plan for Elizabeth city workers—what it is, how it stacks up against other retirement accounts like 401(k)s and 403(b)s, and why it’s such a valuable tool for building your financial future. Toward the end of that article, […]
Meet Your New Retirement Sidekick: The 457(b) Plan for City of Elizabeth Workers
Once upon a time, in 1889, German Chancellor Otto von Bismarck1 had a brilliant idea: pay older workers to retire at age 70 and free up jobs for younger folks. Considering the average person back then barely lived to 42, it was a clever plan – very few would actually cash in! Fast forward to today: […]
Why Firefighters Need to Plan for the ‘Retirement Gap’
Retiring early sounds great – more time for family, travel, or a second career. In fact, the average firefighter retires around age 52. But leaving the job in your early 50s means you likely have a long stretch before other income sources kick in. You can’t access most 401(k) or IRA savings until age 59½ […]