Last week Congress passed - and the President signed - the Consolidated Appropriations Act of 2023 (pdf). This is the huge omnibus spending bill that funds the government, but also includes many changes to retirement accounts that were originally knows as the Secure Act 2.0. Jeffrey Levine does his usual wonderful, incredibly in-depth job of … Continue reading Some Notable Retirement Account Changes
As we are about to turn the page (click the arrow?) on the calendar to move into 2023, there are many changes that happen around taxes. These include tax bracket changes, changes in the limits of what you can contribute to various retirement accounts, and a variety of other changes. The following is by no … Continue reading 2023: New Year, New Limits
I've mentioned the books I've written (and am continuing to write) a few times on here, but I realized I haven't really shared why I'm writing them or what got me started. I talked about it a little on the Teach and Retire Rich podcast, but I haven't put it all together in one place. … Continue reading Why I’m Writing the Personal Financial Literacy for Educators Series of Books
The Individual Retirement Account (IRA) is well-named. (Technically, the 'A' actually stands for "arrangement", not account, but everyone just says account.) It describes really well what the account is for (although the details around it can still be confusing), and people quickly grasp the concept. The same can't be said, unfortunately, about employer-sponsored retirement plans. … Continue reading 401ks and 403bs and 457bs, Oh My!
Here are three simple, easy, and no-cost (or at least very, very low cost) things I think every Colorado school district should do as soon as possible that will instantly improve the lives of their employees as well as make them even better teachers, administrators, paraprofessionals, bus drivers, or whatever job function they perform. Go … Continue reading Three Things Colorado School Districts Should Do ASAP