© 2020 Atlantic Wealth Partners, L.L.C.

Helping Heroes Retire

Helping Heroes Retire

Archive: January, 2020

Personal Finances FRS Potential Legislative Changes in 2020

Posted on January 29, 2020 by Gregg Brant

Every year, the Senate proposes various bills and amendments to the Florida Retirement System. This year is no different. From increasing the amount of employees that would qualify as “Special Risk” to changing the way Investment Plan contributions are made, proposed changes are always being discussed. What’s the best way to keep up to date?… READ MORE

Personal Finances Social Security Estimator

Posted on January 29, 2020 by Gregg Brant

Most of us have paid A LOT of money into Social Security over the years. Have you ever wondered how much you’ll get back from it? If you’re not sure, check out this Quick Calculator published on ssa.gov Here’s the link: https://www.ssa.gov/OACT/quickcalc/

PUBLISHED IN   Florida Cops Magazine
Personal Finances What’s your plan? Now is the time to think about your financial future

Posted on January 14, 2020 by Steve Olson

Steve Olson learned the hard way about the need for law enforcement officers to account for their financial well-being. On July 4, 1991, Olson’s father was on the job in Virginia Beach, having moved from the NYPD, when he was hit by a drunk driver at 31 years old. “That forced my family into financial… READ MORE

PUBLISHED IN   Florida Cops Magazine
Personal Finances Understanding loans on your 457(b): Deferred compensation plans

Posted on January 14, 2020 by Steve Olson

One advantage of employer retirement plans as opposed to IRAs is that some plans permit loans on your retirement assets while you’re actively employed, which may prevent you from incurring a 10 percent penalty — plus ordinary income taxes — on distributions out of retirement programs if you get into a cash crunch. These plan… READ MORE

PUBLISHED IN   Florida Cops Magazine
Personal Finances The question: FRS Pension or FRS Investment?

Posted on January 14, 2020 by Steve Olson

What is the FRS Pension Program? “Traditional” Defined Benefit Pension. Calculated using a pre-defined formula based on: The number of years you are employed. Type of employment (Special Risk- 3 percent per year – or Civilian). Your average final compensation (average of the highest five earning years). When you retire, you receive a fixed monthly… READ MORE

PUBLISHED IN   Florida Cops Magazine
Personal Finances Retired: “Not my problem anymore”

Posted on January 14, 2020 by Steve Olson

Retirement. This word has so many different meanings to people. For some it’s freedom; for others it’s the unknown; and for others it’s the start of a new chapter. The concept of retirement as we know it originated in Germany with Otto von Bismarck in the late 1800s. As the industrial revolution was firing on… READ MORE

PUBLISHED IN   Florida Cops Magazine
Personal Finances Real Estate Entrepreneurs: The Audit Is On

Posted on January 14, 2020 by Steve Olson

Close the financial gaps. Stop leaving money on the table Real estate entrepreneurs not utilizing a Personal CFO are very likely losing money due to inefficiency and needless exposure to taxes and other threats to wealth. They endanger their ability to maximize cash flow and profitability and risk foregoing the opportunity to pass on the… READ MORE

PUBLISHED IN   Florida Cops Magazine
Personal Finances FRS Update: Spousal option changes

Posted on January 14, 2020 by Steve Olson

As many of you know, prior to retiring, if you are in the FRS Pension Plan, you will need to decide what pension survivor option to choose. This decision is irrevocable at the time of retirement – or at the time of entering the DROP – and cannot be changed. There are four options: 1…. READ MORE

PUBLISHED IN   Florida Cops Magazine
Personal Finances Attention all FRS Investment Plan and DROP Participants

Posted on January 8, 2020 by Steve Olson

It has come to our attention that a number of PBCPBA members are invested in mutual funds with very high expenses (some more than 3 percent per year) and that are potentially underfunded. This could cause your retirement to be at risk. Here is a look at some of the funds: FUND EXPENSE RATIO TOTAL… READ MORE

PUBLISHED IN   Florida Cops Magazine
Personal Finances What Football Players and LEOs Have in Common

Posted on January 6, 2020 by Steve Olson

According to the CFL, the average career length o fa professional football player is less than 3.5 years. During this time, the average wealth accumalted by that NFL player is slightly more than the average lifetime earnings of a college-educated person in the United States ‐ whcih is just around $2 million. Some interesting facts:… READ MORE