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 […]
Repeal of WEP/GPO: What Firefighters Need to Know
It’s a late evening at the firehouse in 2024. After decades of service, this is it, your career is finally over, and this is your last day on the job. Over coffee in the station kitchen, you joke about finally taking that fishing trip and cashing those Social Security checks you earned from your side […]
Will Overtime Affect your Firefighter Retirement?
Let’s talk overtime, pensions, and your retirement – a topic that hits close to home for every firefighter pulling extra shifts. You’re sacrificing time with family, taking on more exposure risks, and pushing your body harder. But does that overtime actually boost your pension or improve the chances of retirement success? And more importantly – […]
Life Insurance Policy Review: Are You Still Getting the Right Coverage?
Your life insurance needs aren’t static. As your career progresses and your family grows, that policy you bought years ago might not cut it anymore. For firefighters, having the right coverage isn’t just about death benefits – it’s about protecting yourself and your family while you’re still working. Most firefighters we work with are either […]
2025 Retirement Changes: What Every Firefighter Needs to Know
If you’re balancing a pension with additional retirement savings, 2025’s rule changes directly impact your options. Whether you’re a rookie still building out your financial plan or a veteran officer looking to maximize your final years of service, these updates change how much you can put away and how those savings work with your existing […]
New Year, New Financial Resolutions: A Firefighter’s Guide to 2025
The New Year is almost here, and while you’re already fit for duty, we can all make some improvements, especially when it comes to finances. But what kinds of financial resolutions should you make? Things like cutting up your credit cards, cooking at home instead of ordering in, and cutting down on takeout coffees while […]
Year-end Tax Tips for Firefighters
Taxes – who loves them? Well, they do fund our infrastructure, national security, and public services that keep our country running. We all benefit from what we pay into the system. However, there’s a big difference between paying your fair share and leaving money on the table because you don’t know the rules of the […]