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Finance

Recession haven: Is the G fund really a ‘safe’ place? | Federal News Network

For over ten years, Thrift Savings Plan members have not seen a correction of 20% or more. Recent events have led people to wonder if a major correction of 20%-30% is close at hand, and what they should do before it hits. A certified financial planner says the first step is to look at the positive and negative trends with ... Read More »

Here’s how to take advantage of your military commissary benefit | Military Times

The on-base grocery store has more benefits to shopping than you think. Active duty, Guard, Reserves, military retirees, Medal of Honor recipients, and dependents are all permitted to shop at the commissary by using their government issued ID. One advantage to shopping at the commissary is that each one is required to have a baseline savings average of 23.7% compared ... Read More »

Changes will impact your 2020 tax return | WTHR

New Year. New tax law. While most changes to the tax code from The Tax Cuts and Jobs Act of 2017 took affect in 2018, there are a few changes that phased in this year that will have full effect in 2020. This article will highlight some of the biggest changes, as well as offer some steps to either increasing ... Read More »

How to become a TSP millionaire in 2020 | Federal News Network

While the number of self-made stock market millionaires continues to fluctuate, the next headcount is set in January. Last December there were 21,432 people who had one million dollars or more in their Thrift Savings Plan. Those in the Federal Employees Retirement System have an average of $138,933 in their account, with Civil Service participants having an average of $146,642. ... Read More »

Military spouses will get reimbursed up to $1000 for professional relicensing costs | Military Times

A provision in the defense bill will now offer up to one grand to military spouses for relicensing costs when they have to move with their service member. The timeline for the reimbursement is close to being extended to two years. Other provisions also benefit those who own their own business and other job-related costs associated with moving. Previous programs ... Read More »

These 5 Factors Will Tell You How Much You Really Need to Retire | The Motley Fool

A desk with financial management papers.

An internet search for “how much money do I need or retire” will yield a result of $1 million to about $10 million dollars. Instead of depending on the vague internet-given possibilities, different factors can be used to determine how much you need. A general concept to follow is to live off 4% of your retirement savings each year. Also, ... Read More »

6 college savings tips for parents who are getting a late start | The Union Journal

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Sometimes other life expenses get in the way of being able to properly save for your child’s education. Saving a decent amount in a shorter period of time is difficult, but it can be done. One tip is to follow the one-third rule, meaning you should aim to save one third of the entire cost. Also, encourage your child to ... Read More »

Lawmakers kill off controversial plan to limit GI Bill benefits transfer to spouses, children | Military Times

A new defense bill moving to the Senate would put an end to the hotly debated GI Bill restrictions after being accepted by the House in a 377-48 vote. This would cancel out the recently imposed plans that prevent those with more than 16 years of post-9/11 service from transferring their paid-for GI Bill to their spouse or children. Many ... Read More »

Blended Retirement System deadline approaching | FtLeavenworthLamp.com

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New benefit plans for military retirement include DoD automatic contribution and bonuses that come when a career milestone is reached. The TSP and BRS are two major components of the combines plans. TSP is similar to a 401(k) that comes with varying fund options and plans. In the BRS, a service member’s EDR is used to determine eligibility. The plan ... Read More »

Certificate programs vs. bachelor’s degrees | U.S. News

While many people believe a bachelor’s degree is the only way to get on a path to a successful career, community colleges and certificate programs surprisingly have better outcomes, according to a recent report. They have the highest return on investment 10 years after enrollment, can lead to higher wages quicker, and require less student loans. While bachelor’s degrees have ... Read More »