California has long been called the state that previews where America goes next. Stricter car emissions standards started in California in the 1960s and eventually shaped what every American can buy on a dealer lot. The push for a $15 minimum wage that began in California in 2016 became national Democratic policy within a few years. Things start in Sacramento and migrate east. If that pattern holds, America is about to experience the biggest change in how we tax citizens…
Blog
Categories:
ASRS Survivor Benefits: What You Need to Know
When you’re part of the Arizona State Retirement System (ASRS), understanding survivor benefits is one of the most caring things you can do for your loved ones. While it’s not easy to think about what happens after we’re gone, having this knowledge brings peace of mind and ensures your family is protected during a difficult time. ASRS survivor benefits provide financial security for your beneficiaries, but the specifics depend on whether you pass away before or after retirement. Let’s walk…
Which ASRS Pension Option Should You Choose? A Complete Guide to Maximizing Your Retirement Benefits
After decades of dedicated public service in Arizona, you’re approaching one of the most critical financial decisions of your career: choosing your Arizona State Retirement System (ASRS) pension option. This choice will determine not only how much monthly income you receive throughout retirement, but also what financial protection you can provide for your loved ones after you’re gone. Unlike many retirement decisions that can be adjusted over time, your ASRS pension option choice is permanent once you retire. There are…
3 Smart Investment Strategies for ASRS Pensioners
Your Arizona State Retirement System (ASRS) pension represents decades of dedicated public service. Yet for many Arizona educators, state employees, and public servants, this pension alone won’t be enough to maintain their desired standard of living. Understanding this reality early allows you to make informed decisions. The challenge facing ASRS members is unique. Unlike many private sector retirees who rely entirely on their own savings, you have a guaranteed pension income stream. However, this pension comes with limitations that require…
Understanding the Four Hidden Risks in Retirement Spending
Retirement planning is much more complex than simply accumulating enough savings. Once you transition from building wealth to spending it down, you face entirely new challenges that require specialized expertise and careful navigation. Recent research by actuary Peter J. Neuwirth highlights four critical risks that emerge specifically during the decumulation phase, risks that many retirees and even some advisors don’t fully understand. These risks can derail even the most carefully planned retirement strategy if not properly addressed. The Fundamental Shift:…
How to Fix the 3 Hidden Problems with Your ASRS Pension
The three hidden problems plaguing every ASRS member have been identified: zero inflation protection, the income replacement gap, and the tax trap. While these challenges may feel overwhelming at first, understanding them is the crucial first step toward building a secure retirement. The good news? There are practical, actionable solutions that can help ASRS members protect their financial future and maintain their quality of life in retirement. Rather than feeling discouraged by these pension limitations, ASRS members can take proactive…
Your Complete Checklist for Hiring the Right Retirement Financial Advisor
Choosing a financial advisor for your retirement years is one of the most important financial decisions you’ll make. With your retirement future at stake, finding the right professional to guide you through this phase requires careful consideration and thorough evaluation. The financial landscape can feel overwhelming, especially when retirement brings unique challenges like managing fixed incomes, navigating healthcare expenses, and ensuring your money lasts throughout your golden years. You deserve an advisor who understands these specific needs and has the…
Should You Take an ASRS Refund? A Complete Guide
If you’re leaving an Arizona public sector job, you’re facing an important financial decision: should you take a refund from your ASRS account, or leave your money in the system? This choice could significantly impact your financial future, and it deserves careful consideration. Many Arizona public employees find themselves at this crossroads without fully understanding their options or the long-term consequences. Whether you’re transitioning to a new career, relocating to a different state, or need immediate funds, this decision requires…
Yes, You Should Spend Down Principal in Retirement
I have been a financial advisor for over a decade, and I’ve heard so many retirees tell me, or imply, that they should :”Never spend your principal.” But I need to tell you: I completely disagree with this outdated advice that might be keeping you from enjoying the retirement you’ve worked so hard to achieve. Research reveals a surprising truth about retirement spending that challenges everything we’ve been taught about managing money in retirement. According to data from the Bogleheads…
The Four Phases of Retirement: A Psychological Journey
Most people spend years preparing financially for retirement, carefully calculating savings and investment returns. Yet research shows that 10,000 North Americans retire daily, and many find themselves unprepared for the psychological challenges that come with this major life transition. Understanding the emotional landscape of retirement can make the difference between thriving and merely surviving during what may be one-third of your adult life. A comprehensive study by Dr. Riley Moynes of retirees reveals that most people move through four distinct…