Who I Help: Case Study on a Mobilizing Reservist

by John Cooney on Nov 12, 2019

Retirement, Thrift Savings Plan, Military Financial Planner, cash-flow, Taxes

I get asked a lot about what type of clients I work with, and what I do to help them.  In this case study, I talk about a client I worked with who was preparing for a military deployment.  This client hired me on an hourly basis to help them prepare financially for the deployment and maximize the benefits available to them during the deployment.  You can read the first case study in this series h

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Who I Help

by John Cooney on Oct 14, 2019

debt, financial planner, Retirement, cash-flow, student loans

I get asked a lot about what type of clients I work with, and what I do to help them.  This will be the first of several case studies where I talk about a client situation and what we did together to help them live their ideal financial life.  This particular client hired me on an on-going basis.

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If I Inherit a TSP Account, Do I Need to Take RMDs?

by John Cooney on Sep 25, 2019

TSP, Thrift Savings Plan, Retirement, FERS, Military Financial Planner

Understanding Required Minimum Distributions for your Thrift Savings Plan (TSP) can get a little complicated when the account is your own, and when it is an inherited TSP account, it can be even more complex.  Understanding when you have to start and how much you have to take can depend on a couple of factors, which I am going to explain here.

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Thrift Savings Plan Options You May Not Be Taking Advantage Of

by John Cooney on Sep 5, 2019

retirement, military retirement, FERS, military financial planner, TSP

Hopefully, if you are eligible for the TSP, you are taking advantage of all the benefits available to you.  Low fees, professionally managed funds, and new withdrawal rules aimed at giving you flexibility when taking your money out of your account are three main benefits to the TSP.  When contributing, you also need to be aware of the options available to you to maximize the tax efficiency and amount you are contributing.  Take a few minutes today to get to kno

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Make-Up Contributions to the TSP

by John Cooney on Jul 25, 2019

TSP, blended retirement system, retirement, military retirement, FERS, fee-only financial planner

Federal Service employees, who also serve in the military, have access to some benefits with regards to the Thrift Savings Plan (TSP) that can apply if the employee is required to leave their Federal job to perform military service.  This article will highlight the eligibility requirements, rules, and provide some examples to help you determine if this is a benefit that you can take advantage of.

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Are You Impacted By the Social Security Earnings Test?

by John Cooney on Jun 20, 2019

Social Security, retirement, Taxes

Filing for Social Security and starting to receive your benefits can be a stressful decision for people to make.  One of the rules that taxpayers need to be aware of when choosing to decide when to file for their benefit is the Earnings Test.  This article will discuss the Earnings Test and provide some examples to help illustrate how the rule works and give you an idea of whether it will impact you or not.

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It's Military Moving Season, How Does That Impact Your Taxes?

by John Cooney on Jun 4, 2019

military finance, military, Taxes, personal finance, fee-only financial planner

It’s moving season for the Department of Defense…every year about 65% of the PCS moves for the year happen between May 15th and August 31st.  Don’t let your move sneak up on you.  In this great Military.com article, they offer several tips and I will share two here; book your move early and use the move as w

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Changes Are Coming With The TSP Modernization Act

by John Cooney on May 14, 2019

Thrift Savings Plan, military retirement, retirement, fee-only financial planner

Changes are coming to the Thrift Savings Plan and that is a good thing!  Whenever I talk to someone with a TSP account, they are usually pretty positive with the exception of one area, withdrawals.  The TSP is behind most other defined contribution plans with regards to flexibility in withdrawal options.  Luckily the Thrift Savings Board recognized this and forwarded some proposed changes to Congress and in 2017 the TSP Modernization A

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