Maximizing Retirement Savings

One of the most important ways to save for retirement is using your employer-sponsored retirement plan. For those working in the private sector, that means saving money in your 401(K) or 403(B). For those in the military or federal civil service, that means saving in the Thrift Savings Plan (TSP). When you save in your…

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Understanding Thrift Savings Plan (TSP) Contribution Limits

The Thrift Savings Plan (TSP) offers a great opportunity for military and federal civil servants to save toward retirement. However, there are some important contribution limits to be aware of. The annual contribution limit of $19,500 applies to either the traditional or Roth TSP. The federal government matches up to 5% of basic pay for…

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Great Side-Hustle Ideas

John has a business that generates several thousand dollars a month by flipping pallets. Many industrial companies receive deliveries on wood pallets, but frequently they don’t have a good way to get rid of them. In addition, many other companies need those pallets to ship their goods. Many years ago, John needed to earn more income and the idea…

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February 2021 – Saving For Your Dreams

The recent run-up in the price of GameStop stock is both a financial news marvel and a great lesson. For those that aren’t familiar, GameStop was recently the subject of a short squeeze. This happens when investors betting the price of a stock will fall are wrong, and they are forced to buy the stock in order…

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The Rewards of Summer Camp

In July 1987, I headed to Loysville, Pennsylvania to participate in the annual week-long summer camp for Boy Scouts of America. Being a relatively new addition to Troop 87, I didn’t have a lot of seniority in our group. Everyone was a lot bigger and more experienced than I was. I thought camp would be an…

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Happy New Year 2021!

Our new year’s celebration this year was a unique experience. Most people were at home, not participating in parties and gatherings we’ve grown accustomed to in the past. Time Square was almost totally vacant, aside from the few spectators maintaining appropriate social distancing. While 2020 may not have been the best year for some of us,…

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December 2020 – Achieving Financial Independence

Financial independence (FI) is a popular term today. In fact, there is an entire movement called FIRE, Financial Independence Retire Early. Members primarily consists of young people who want to save enough money so they don’t have to work any more. While FIRE is a goal that many young people have, anyone can achieve this goal regardless of…

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Three Easy Ways to Save on Thanksgiving Day

Thanksgiving in only one day away! This national holiday is all about spending quality time with family and friends, and being grateful for the blessings in your life. If you are like most people, this year you may not be able to congregate in large groups. If you’re completely alone and you want to celebrate…

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Preparing for a Financial Winter

Today, we’ll discuss an important topic: real economic depressions. I call them Financial Winters. Economic depressions are an uncomfortable topic to discuss. However, they are important to understand and prepare for. We live in difficult and unprecedented times. The global pandemic and recession continue. In spite of many changes to the workplace and financial landscape, there are other changes still unfolding.…

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October 2020 – Certainty in an Uncertain World

I was intimidated by the mountains of snow piled on the side of the road, and it was still snowing, too. My Dad helped me out of the car and walked me toward my first customer’s house in Enola, Pennsylvania that cold winter day on January 11, 1987. Even though I felt some fear, I…

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