LB Foster’s Post

😓 More than half of all Americans were living paycheck to paycheck at the end of 2021 and it’s no secret that the current economy is proving tough on the average American worker: https://lnkd.in/ea383skU ❓ How can employers and plan sponsors increase #FinancialLiteracy across their workforce, reduce financial stressors for employees and increase engagement in #retirement plans? 👤 Dan Taylor, NFP’s vice president, Sales, Wealth and Retirement, explored this challenge in an article recently published on Crain's Detroit Business Journal, as well as discussing how the #RetirementGap may be affecting diverse groups disproportionately. ✔️ Check out the article and discover ways we’re doing all that we can to provide solutions to our clients and their people that make a real difference in hard times: https://lnkd.in/exQhf3jH #NFP #Benefits #DiversityAndInclusion #HumanResources #HR #Insurance #TalentManagement #EmployeeBenefits #FinancialPlanning #RetirementSavings #WorkforceDevelopment

Money is a tool, not the goal. Freedom is the goal. . . . #freedomisthegoal #financialfreedom #livefree #befree #pursueyourdreams #followyourpassions #financialindependence #earlyretirement #worktolive #dontlivetowork #bullseyetrading #bullseyetradingacademy

Few Americans today know much about Studebaker or Packard automobiles. Classic car aficionados recall their sleek, innovative designs, but the brands are also a reminder of another bygone era: the traditional defined benefit pension. Studebaker and Packard merged in 1954 and later went out of business. Their pension plans were terminated, leaving thousands of workers without their expected benefits. That, along with other pension plan failures, prompted efforts to make retirement savings safer, culminating in federal legislation that has shaped much of the current retirement benefit landscape. #business #employment #retirement #money #savings #enterprise #economics

If you are a federal employee, or aspire to be one, you might want to take this challenge to improve your financial situation. This week, we challenge you to review your federal retirement benefits and plan ahead for your future. 🙌 Why is this important? Because federal retirement benefits are complex and require careful planning to optimize them. 💯 You don’t want to miss out on any opportunities or make any mistakes that could cost you thousands of dollars in the long run. 😱 Here are some steps you can take to complete this challenge: First, determine which retirement system you are under: the Civil Service Retirement System (CSRS) or the Federal Employee Retirement System (FERS). 🤔 This will affect your pension, Social Security, and Thrift Savings Plan (TSP) benefits. 🔥 Second, calculate your pension benefits based on your years of service, high-3 average salary, and retirement age. 🧮 You can use online calculators or consult a professional to help you with this. 💻 Third, review your TSP account and make sure you are contributing enough to get the full matching from your agency. 💰 Also, check your investment allocation and risk tolerance and adjust accordingly. 📈 Fourth, understand how Social Security works for federal employees and how it will affect your retirement income. 🙋 Depending on your retirement system, you may be subject to the Windfall Elimination Provision (WEP) or the Government Pension Offset (GPO), which could reduce your Social Security benefits. 😢 Fifth, explore other options to supplement your federal retirement benefits, such as the Bank On Yourself strategy. 🚀 This is a way to use cash value dividend-paying whole life insurance to access cash for major purchases while still receiving a guaranteed income. 💸 By completing this challenge, you will have a better understanding of your federal retirement benefits and how to maximize them. 😊 You will also be more prepared for your future and have more peace of mind. 😌 Are you ready to take this challenge? Let us know in the comments below how it goes and what you learned. 👇 We would love to hear from you. 🥰 #FederalRetirementChallenge #FederalBenefits #FederalFunFederalFunds https://lnkd.in/gANgGCzm

As my dad eagerly counts down the final four months to his well-deserved retirement after an astounding 47 years at the same company, I can't help but reflect on the changing tides of our work culture. His story is one of dedication and financial foresight, blessed with not one but two pensions and a 401(k) that ensures a stable post-retirement income. We're immensely grateful for the security this provides. However, let's face it – the landscape has shifted. We, the current workforce, are rewriting the rules. Our priorities have evolved. No longer tethered to a single company for decades, we're not waiting for retirement to savor life. We crave living in the now— cherishing our children, embracing our youth, and prioritizing our health. In the era of immediate gratification, the question arises: Shouldn't our savings strategy reflect this shift in mindset? The traditional approach of locking up savings until 59 ½ doesn't necessarily align with our aspirations. #RethinkRetirement #FinancialFreedom #NewWorkCulture

As if we didn’t need anymore bad news - Aside from the fact I thought we were still in one anyway! They say it’s temporary! Employment is up, wages are up!! 😳😳😳 REALLY? Who’s? You who work for the government? Mine isn’t!! Hence why I am forced to improve my income by taking multiple jobs. THIS is temporary! I don’t intend on working my way through multiple jobs into a late retirement. I am doing this so I get ahead and while my business grows. Then I will have time and financial freedom to enjoy an early retirement. Think about your future. Change your NOW if you want the future to look different. Is anyone else seeing anything improving as they say it is? #recession #multipleincomestreams #retirement #wages #planforthefuture

If you are a federal employee, or aspire to be one, you might want to take this challenge to improve your financial situation. This week, we challenge you to review your federal retirement benefits and plan ahead for your future. 🙌 Why is this important? Because federal retirement benefits are complex and require careful planning to optimize them. 💯 You don’t want to miss out on any opportunities or make any mistakes that could cost you thousands of dollars in the long run. 😱 Here are some steps you can take to complete this challenge: First, determine which retirement system you are under: the Civil Service Retirement System (CSRS) or the Federal Employee Retirement System (FERS). 🤔 This will affect your pension, Social Security, and Thrift Savings Plan (TSP) benefits. 🔥 Second, calculate your pension benefits based on your years of service, high-3 average salary, and retirement age. 🧮 You can use online calculators or consult a professional to help you with this. 💻 Third, review your TSP account and make sure you are contributing enough to get the full matching from your agency. 💰 Also, check your investment allocation and risk tolerance and adjust accordingly. 📈 Fourth, understand how Social Security works for federal employees and how it will affect your retirement income. 🙋 Depending on your retirement system, you may be subject to the Windfall Elimination Provision (WEP) or the Government Pension Offset (GPO), which could reduce your Social Security benefits. 😢 Fifth, explore other options to supplement your federal retirement benefits, such as the Bank On Yourself strategy. 🚀 This is a way to use cash value dividend-paying whole life insurance to access cash for major purchases while still receiving a guaranteed income. 💸 By completing this challenge, you will have a better understanding of your federal retirement benefits and how to maximize them. 😊 You will also be more prepared for your future and have more peace of mind. 😌 Are you ready to take this challenge? Let us know in the comments below how it goes and what you learned. 👇 We would love to hear from you. 🥰 #FederalRetirementChallenge #FederalBenefits #FederalFunFederalFunds https://lnkd.in/g3AH_s-8

As Nan Ives and Lisa Stornaielo discuss in this "People in Transition" episode, it takes more than just planning to sit by the ocean or play golf. If you are retired now or will be in the future, this episode is for you. #retirement #happy #transition https://lnkd.in/gD4fPfsV

Which one of these factors will jeopardize your #retirement? The first one might just surprise you. 😲 I've just released a comprehensive LinkedIn slide deck highlighting the major risks retirees confront today. ✂Cuts in Social Security benefits? 🎈Inflation 📈📉Stock market fluctuations 📈📉 This slide deck (Carousel) provides clarity on pivotal retirement planning dimensions. Drawing from my background as a Marine Corps veteran and my acumen as a financial advisor, I've intertwined firsthand experiences with industry wisdom. Don't gamble with your golden years. Arm yourself with the insights to stride into retirement confidently. 🚀 Eager to transform your retirement dreams into a well-crafted strategy? 💡 Send me a DM to get started 📲 ------- Hello, I'm Paul, an advisor for people who'd rather see their money work for them rather than pay hefty taxes. 👔 Stay tuned for more content or sign up for our 📲 Email Newsletter, the link is in my bio, to help you keep Uncle Sam at bay!

So you're a successful professional, huh? You do great work, and you are well compensated. You love your family and providing for your loved ones. But Let me ask you a question. What will happen to your family if you die too soon, live too long, or become disabled along the way? Is it worth a conversation? Please reach out to create a plan to ensure they'll be ok even if the worst should happen. #lifeinsurance #disabilityinsurance #professional #executivebenefits #love #familyfirst #retirement #legacy