With the proper techniques and planning, you can help ensure that you’re remembered for the impact you had on your community and your world. Wills and a financial power of attorney, along with a living-will and a medical power of attorney, make up the four basic documents and preparations of estate planning. They are, however, […]
This is just someone that is employed and covered by a Teacher Retirement System (TRS) position and is accruing service to retirement. In order to be an active member, you must have contributed to the TRS at least one year in the last 5 consecutive years.
This is the retirees average monthly salary for […]
However, there is a bit of good news in all of this. Up to $250 that you spend on your classroom is deductible on your income taxes if you itemize your deductions. You do not get the whole $250 back, but it decreases the income that you pay taxes on. Just make sure to keep […]
Double your income in the summer
I may as well tackle this one first since this is a major perk for teachers. Granted, some school systems are trying to shorten or do away with the traditional summer vacation. However, as a teacher, you will still get many paid days off.
Let’s assume that your summer break is […]
The following payout options are general and each state has specific retirement payout options. You need to contact your states Teacher Retirement System for their structured payouts. Happy Retirement!
Partial Lump-Sum Option (PLOP)
With this option, you will get a lump-sum one-time payment in exchange for a reduced lifetime monthly payment. On the surface, this option sounds […]
Retirement Just for Teachers and Administrators — Payroll deduction through your School District.
Each school allows an educator to deduct part of their monthly paycheck towards saving for their retirement. The dollar amount you choose to be deduced is then placed in investments. You get to choose how your money is invested, however the school will […]
You should start planning years before an actual retirement date arrives. However if you are going to retire in the next few months you’re still not too late.
When thinking about your future, teachers need to calculate the cost of what it will take for them to live far out into the future. This includes […]