Cops Learn Retirement
You risk your life, don't risk your retirement!
Pensions pay the bills, investments leave a legacy.
My focus was on career and keeping people but now that I'm gettting closer to retirement, I really wish I paid more attention to learning not only what I have but what i should consider doing as well. I'm happy to help other officers learn how to help their families.
Are you feeling confused and just plainly said, “overwhelmed” trying to understand retirement. It’s understandable, you trained to fight crime NOT understand finances, insurance and taxes. If you answer no to these next questions. this is why.;
1) Do I have a Financial Advisor to help guide my retirement asset growth
2) Do I have an Insurance Agent to help protect me in Retirement
3) Do I have a Tax Strategist, not a Tax Prepayer, a true tax strategist to help make sure I am most tax efficient in retirement
How did you find your financial team…from work? referral from a colleague? referral from a friend or family?
Help me save on TAXES TODAY
Are you confident that you are saving all that you can on taxes today?
Help me save on TAXES in RETIREMENT
Do you understand how Social Security, your pension and all of your other assets come together to create taxable income in retirement?
What's best for my FAMILY
Do you utilize the Survirship benefit to protect your Spouse or what other options should you consider before pulling the trigger on retirement?
Health Insurance in Retirement
Can you get Health Insurance once you leave the department? Know your options so you’re prepared. This is a very important part of retirement so are you comfortable with your understanding?
Our Commitment
With a deep commitment to education and specializing in helping Law Enforcement Professionals since 2001, our team is well-positioned to help navigate the complexities of your retirement transition.
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The DROP Program
Perhaps the greatest strength of these plans is the ability for a police family to better increase their household liquidity at retirement. Invested prudently, assets can help mitigate the risk of long-term inflation while allowing tax deferral following your separation from police work, a period when many continue earning in a second career or job. Furthermore, DROP proceeds may be better structured to align with some of life’s most important goals and dreams, not just left to chance.
As DROP programs have increased in popularity, it’s been our experience that the administration of these plans typically varies by agency. Custodians typically maintain different rules and operational procedures, which can be challenging for participants and sometimes inflexible
Deferred Comp 457b and Thrift Savings Plan (TSP) investments and programs
These programs are popular for their convenience, ease of enrollment, and perceived low costs. However, most of these programs tend to have limited investment options and access to your money can be a challenge prior to the retirement separation. To our trained eye, they really provide value in managing income taxation at different points in your career. Our team can help you leverage them effectively.
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Selecting Pension Payout and Survivor Benefit Options
If there’s one critical area, this is it, as elections for lifetime payouts are typically irrevocable. Historically, pensions had limitations with respect to survivor benefits and payouts for pensioners. We’ve seen many programs evolve over the last 2 decades, now providing flexibility to accommodate a myriad of options for survivors and beneficiaries. This presents a significant financial planning opportunity, as no two households are identical, and the historical one-size fits all approach to default pension benefits wasn’t ideal.
Lump-Sum Pension Buyout (your contributions plus interest)
Exercising lump-sum pension payouts, whether full or partial, is also an area that can be fraught with pitfalls. It’s advisable to have a skilled professional guide you through the unique complexities of your agency’s plan to avoid costly mistakes and to weigh the pros and cons of different options before signing on the bottom line.
Our first priority is helping you take care of yourself and your family. We want to learn more about your personal situation, identify your dreams and goals, and understand your tolerance for risk. Long-term relationships that encourage open and honest communication have been the cornerstone of our success.