Financial Advisor, Investment Advisor, Broker, “guy”. These are all terms that seem to be used interchangeably when talking to clients. While they might all seem to be the same thing, they can in fact be very different in terms of how your advisor is compensated, where their loyalty lies, and the objectiveness of their advice…. READ MORE

Most of us have heard the term ‘compound interest’ before, but do you fully understand how it works and how important it is to start early? Compound interest is when you earn interest on interest. The longer the time period the more ‘compounding’ of your account value (the higher the value). The below chart is… READ MORE

The news surrounding the second round of stimulus check has been swirling, but when are the checks going to be issued? That is the million-dollar question. There is always back and forth between the political parties to reach an agreement but right now the clock is ticking. The big concern currently is that there is… READ MORE

Have you ever walked into a meeting and felt like you were being sold something? Unfortunately, this has happened to almost everybody. In the financial services industry, there are a lot of salespeople that call themselves financial planners. So, how do you know if you are meeting with a salesperson or a financial planner? This… READ MORE

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

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

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

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

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

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