Traditional IRAs and Roth IRAs, What’s The Difference?

Submitted by John Cooney on Oct 11, 2017

Individual retirement accounts can be a fantastic vehicle for helping individuals save money for retirement.  They can be used in conjunction with workplace retirement plans and social security to help provide income for retirees when they have left the workforce.  When it comes to IRAs, they come in two different flavors, traditional and Roth.  We will discuss how these two types of retirement accounts are the same, how they are different, and which one may be right for you.

retirement, Roth IRA, IRA, Taxes

Strategy vs Tactics When it Comes to Investing

Submitted by John Cooney on Sep 14, 2017

When people find out that I am a financial advisor, the first question I am usually asked is “What should I invest in?” or something close to that.  My answer is almost always the same, “What is it you are investing for?”  If your advisor is telling you what to invest in, before you have talked about what you are investing for, I highly recommend you find another advisor.  When I think about investing, I often think back to my military education days and learning about the three levels of war; Strategic, Operational, and Tactical.

investing, retirement

Improvements to the TSP May Be Coming Soon!

Submitted by John Cooney on Jul 17, 2017

When I talk to people about the Thrift Savings Plan the most common complaint I usually hear is how difficult it can be to withdraw funds from your account.  Well, you may not believe it, but there is a bi-partisan effort underway in Congress to improve these rules and allow for greater withdrawal flexibility for TSP participants.  In April, Senate Bill 873, The Thrift Savings Plan Modernization Act was sponsored by Senators Portman and Carper, and at the end of June, a companion bill, HR 3031, was sponsored in the House of Representatives by Representatives Cummings, Meadows, and Norton. 

Thrift Savings Plan, retirement, military retirement, TSP

Understanding the Military's New Blended Retirement System (BRS)

Submitted by John Cooney on Mar 7, 2017

Understanding the Military’s New Retirement System, the Blended Retirement System

For years, those who have served in the military have had one constant; if you serve 20 or more years, you get a pension for life, if you don’t, you get nothing.  This changed a little when the Thrift Savings Plan (TSP) came into effect in the late 1980s.  With the TSP, the government did give service members a mechanism for saving money direct from their paycheck.  The big key here is that it was ONLY the service members money, Uncle Sam kicked in nada.  If you contra

retirement, military retirement, blended retirement system
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