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Important Hurricane Update: 401k Access for Disaster Relief For anyone impacted by recent hurricanes, if your state has been declared a "Disaster Zone" by FEMA, there’s some financial relief available: ??401k Access with No Early Withdrawal Penalty: You can access your 401k funds?without?the standard 10% early withdrawal penalty before age 59?. States that likely qualify include Tennessee, Virginia, Georgia, South Carolina, North Carolina, and Florida. ???Flexible Tax Repayment Options: You can opt to spread out the tax payments over a 3-year period. And if you’re able to replace the funds into your 401k within those 3 years, you may even avoid owing taxes on the withdrawal. This measure is designed to provide critical financial flexibility to those who need it during recovery. For more specific guidance on your plan, consult a financial advisor or tax professional. Stay safe and take care! #HurricaneRelief #401k #DisasterRelief #FinancialPlanning https://lnkd.in/d9-KUEgC

Did you know you can use your Self-Directed IRA to support natural disaster relief efforts? Through humanitarian-focused investments, your retirement savings can potentially make a meaningful impact. Discover more about using your Self-Directed IRA for natural disaster recovery in our recent blog: https://lnkd.in/ecSVnH5u #NaturalDisasterRelief #HumanitarianAid #RetirementPlanning #SelfDirectedIRA #SDIRA

Havoc has recently hit Houston in the form of drenching rain, tornadic winds, and power outages just before we head into hurricane season. Whether you are a pre-retiree or already in #retirement, these events reminded me of two important things: 1. Home Owners (H.O.) Insurance DOES NOT help you to mitigate the risk of flooding to your personal residence. 2. Should you be impacted by flooding, and not have flood insurance, having adequate EMERGENCY RESERVES in the form of cash/cash equivalents (not your 401k, equity in your home, or credit cards) can be a life saver and lower the stress levels as you clean-up and re-build your home and life. #retirementplanning #retirementplan #oilandgas #oilgas #energy Investments & Wealth Institute Baird Retirement Management #personalfinance #oilandgasindustry

If you lost everything today, your home, your possessions, what would still remain? The devastating fires in California are a heartbreaking reminder: Life can change in an instant. For many people approaching retirement, this fear of losing everything, Their home, their savings, their sense of security, Leads to years of postponing dreams and callings, All in the name of waiting for "someday." But here’s the hard truth: Fear can become a thief. It steals time. It steals courage. It steals life itself. I’ve seen this happen so often: Our desired next chapter dreams and desires placed on a 5-year horizon, "Once the market calms down…" "Once things feel stable…" "Once I pay my home..." "Once my kids finish college..." This one robs so many pre-retirees ability to seek a great next chapter! And in that waiting, life quietly passes by. But here’s the question: If not now, when? There’s no perfect time, no guarantee of smooth roads. We often think of the possible loss of what we’ve built, but let's also think of the loss of the life we postponed in fear of losing it. So here are three questions to journal on as you consider your next chapter: What dreams or callings have I been postponing, and why? What am I holding on to that might be holding me back? What small, meaningful step can I take today to move closer to the life I want to live? What am I doing now to prepare for the unexpected without holding me back? To those affected: My prayers go out to the many retirees and families affected by these California tragedies. And let's not forget the many in North Carolina and affected by Hurricane Helene. ?? HERE’S HOW WE CAN MAKE A DIFFERENCE TOGETHER: The retirees impacted by this loss are more than statistics, they’re individuals who have spent years building what they thought was safe and secure. Now, they need us to come together. At My Plan Keeper?, we want to support retirees who have been affected in these fires and Hurricane. If you’re an organization, company, or someone who wants to help, please send me a message. For those facing tragedy, know this, you are seen, supported, and not alone. Let’s build a world where retirees are supported and the community steps in when life shakes. For retirees and those nearing this phase of life: don’t let "someday" steal the time you have today. #LifeAfterRetirement #ResilientLiving #CaliforniaFires #SupportingRetirees

With the number of nationally declared disasters on the rise, it is important to understand how you can access your money after a major disaster has struck. #CentralFinancialGroup #WhereYouBelong #CFG

When a natural disaster strikes, like the recent hurricane and flash floods, the IRS offers relief to people living in areas that have been declared federal disaster zones. One way they help is by allowing you to take money from your retirement plan to cover disaster-related expenses without the usual penalties. We hope you are not in this situation but here’s what you need to know if you’re considering this option. https://lnkd.in/dPuxjD2c #hurricanehelene #disasterrelief

When a natural disaster strikes, like the recent hurricane and flash floods, the IRS offers relief to people living in areas that have been declared federal disaster zones. One way they help is by allowing you to take money from your retirement plan to cover disaster-related expenses without the usual penalties. We hope you are not in this situation but here’s what you need to know if you’re considering this option. https://lnkd.in/dPuxjD2c #hurricanehelene #disasterrelief

Florida, as we brace for Hurricane Milton this Wednesday, let's talk financial preparedness. Did you know you can access retirement funds in disaster situations? From 401(k) loans to IRA distributions, these options can be crucial when insurance isn't enough. Catherine Ratcliffe (STR Benefits Consulting) and I are here to help both employers and employees understand these financial lifelines. Need personalized guidance? Call us at 813-669-4454. Stay safe, stay informed, and let's weather Milton together. #HurricaneMilton #FinancialPreparedness #HRSupport

Do you have money intentionally set aside as an “emergency fund?” Because as you know, life has a funny way of throwing curveballs when you least expect them. And unfortunately, I’ve experienced this firsthand in my own life lately. From dealing with a leaky roof and hurricane damage, to discovering mold in my home and battling a bat infestation, it's been one thing after another. No seriously. A BAT infestation. You can’t make this stuff up. And to top it all off, my air conditioner decided to quit on me just as summer hit full swing and I’m about to be out quite a chunk of change to replace the entire system. ?? Needing to address these situations – and the funds required to do so – were all things I was not anticipating doing this year. And living in Houston, Texas knowing we haven’t even entered peak hurricane season makes me pretty nervous that there may be more to come… But I’m sharing my real-life experience with you all to underscore the importance of having an emergency fund. *ESPECIALLY* as an unmarried woman, whether that means you’re single, widowed or divorced. It shouldn’t be just a minor consideration – it’s vital for navigating life's uncertainties. As you consider how you might go about setting up your own emergency fund, here is a good rule of thumb: ?? Aim to set aside at least 3-6 months of living expenses in an easily accessible account. ?? Alternatively, you could consider regularly saving a percentage of your paycheck—10% is a solid starting point if you're just beginning. Take it from someone who’s currently going through the ringer (and who happens to be a financial advisor and CERTIFIED FINANCIAL PLANNER? professional!)—start building your emergency fund today. You never know when you’ll need it. #EmergencyFund #WomenInFinance #FinancialIndependence #financialadvisor #financialplanner #wealthmanagement #womensfinancialadvisor #financialadvisorforwomen

Florida, as we brace for Hurricane Milton this Wednesday, let's talk financial preparedness. Did you know you can access retirement funds in disaster situations? From 401(k) loans to IRA distributions, these options can be crucial when insurance isn't enough. Catherine Ratcliffe (STR Benefits Consulting) and I are here to help both employers and employees understand these financial lifelines. Need personalized guidance? Call us at 813-669-4454. Stay safe, stay informed, and let's weather Milton together. #HurricaneMilton #FinancialPreparedness #HRSupport