There is nothing pleasant about a bear market—not the anxieties they cause, not the paper losses, not the relentless drip, drip, drip of reports in the media about this or that daily downturn. The gut instinct is to stem the losses by selling before the market goes down further, but locking in losses after the fact has, historically, almost always been the wrong move.
The “money illusion” refers to how we view our buying power today versus in the future. Are you falling victim to this potentially dangerous ideology?
. . . a need for precision sometimes can be paralyzing. We want the perfect outcomes so badly that we make no decision out of fear of making the wrong one . . . The question to ask yourself is, “Would you prefer the opportunity to be precisely right or the opportunity to avoid being precisely wrong?” Read more . . .
Teachers look at summer through a different lens. While relaxing can be an important component, for many, it’s not the norm. Between second jobs, preparation requirements, and family obligations, teachers don’t have much time for themselves in the summer months. But one thing that you can do for yourself is to maintain control of your finances.
The truth is, it’s important to know how your pension fits into your comprehensive plan before you choose a pension election option. From having a solid grasp of where your retirement income is coming from, to understanding the emotional pros and cons of each pension election option, there’s a lot to consider here. Let’s walk through how you can start to decide which pension election option is right for you.
Teachers nearing retirement (and teachers who are taking maternity, extended sick time, or working part-time) should pay close attention to the retirement credits being awarded to you.