A Great Recipe ForTurning Lemons into Lemonade

Posted on August 11, 2011 by bluelinecpcu

By Nancy Coveleskie We’ve all heard this saying before, haven’t we?  How do you apply in your everyday life? I’ve been working on a project the last few days and have asked some friends and acquaintances for assistance.  I surveyed everyone via email on the following:  The #1 biggest concern I have right now about [...]

Filed under: Cashflow and budgeting, Money, Police retirement planning, Taxation of Retirement Benefits, Taxes | Tagged: , , , , , , , , , , | Leave a Comment »

Things I’ll bet you DIDN’T know about DROP when you enrolled

Posted on February 17, 2011 by bluelinecpcu

By Nancy Coveleskie Don’t get me wrong, I’m not about to bash DROP. It has been a financial Godsend to many of our officers, but there are a few things you need to know about how it works. When you enroll in DROP and you are married, your spouse is your primary beneficiary. There is [...]

Filed under: DROP Planning, Money, Police retirement planning, Taxation of Retirement Benefits, Taxes | Tagged: , , , , , , , , | Leave a Comment »

Is there a tax lien on YOUR retirement?

Posted on April 8, 2010 by bluelinecpcu

So where is the benefit? Perhaps you are thinking that you will be in a lower tax bracket when you retire. Not to burst your bubble, but I have yet to see that happen when every dollar of your pension is taxable and if every dollar you withdraw is also taxable. Even if marginal tax brackets remain the same, you will no longer have the deductions you may have now, such as your pension contribution, your deferred comp contribution, deductions for your children and mortgage interest.

Filed under: Taxation of Retirement Benefits, Taxes | Tagged: , , , | Leave a Comment »

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