7 REASONS YOU SHOULD NEVER BORROW FROM YOUR 401(k)

Posted by Patrick Fisk, CFP®
On October 26, 2020

Most people are worried about money right now, and millions are having trouble paying their bills. Even if you still have your job, it’s possible your partner or spouse does not. When cash is short, it’s tempting to make a beeline to the savings in your 401(k), but I would strongly recommend against it. I’ve […]

3 Ways to Protect Your Retirement Savings & Pay Yourself

Posted by Gary Krasnov, AIF®, CLTC®
On September 29, 2020

Once you retire, how do you protect your portfolio so that it preserves principal and generates adequate income? While challenging, it helps to think of retirement as the time in life when you are going to be paying yourself. Yes, paying yourself, but with a small caveat.

MANAGING FINANCIAL STRESS & RELATIONSHIPS

Posted by Michelle Yates, CPRS™, BFA™, CDFA®️
On August 18, 2020

Many of my colleagues (and a vast majority of our clients) are active or former pilots, so we bear close witness to the alarming economic situation our airline brothers and sisters face. Due to the fallout from the pandemic, for pilots, 2020 is the worst of times. With that in mind, here’s something that probably […]

FACING A REDUCED INCOME? REVIEW THESE 3 KEY AREAS

Posted by RAA
On April 27, 2020

Whether you’re new to your airline, are beginning to plan for retirement, or are somewhere in between, it’s likely that the challenges facing the aviation industry are leading you and your family to plan for changes in your income. In turbulent times such as these, it’s perfectly normal to be concerned about your career and financial […]

HOW ARE RMDS CALCULATED?

Posted by Richard Winters, CFP®, CRPC®
On March 16, 2020

RMDs, or Required Minimum Distributions, are calculated by dividing your traditional IRA or retirement plan account balance by a life expectancy factor specified in either the Uniform Lifetime Table or the Single Lifetime Table. Your account balance is usually calculated as of December 31 of the previous year. You are allowed to defer your first RMD (the year […]

USING AN HSA AS A RETIREMENT ACCOUNT

Posted by Gary Krasnov, AIF®, CLTC®
On December 21, 2019

There are few vehicles as tax-efficient as a Health Savings Account (HSA). I like to think of HSAs as a ROTH on steroids. As you know, in most cases[1], with a ROTH account you can invest after-tax dollars that grow tax-free and are withdrawn tax-free in retirement. With an HSA, you can deposit pre-tax dollars […]

5 IMPORTANT TYPES OF INSURANCE AND WHAT THEY COVER

Posted by Sally Jilek, CLTC®
On April 24, 2019

As financial planners, the RAA team spends a lot of time thinking about and preparing to help our clients with the unknowns in life. What happens if the Fed raises rates? What happens if a client develops a chronic medical condition, or becomes disabled and isn’t able to work? By thinking about and planning for […]

FIDELITY BROKERAGELINK®: PROFESSIONAL MANAGEMENT IS NOW AVAILABLE FOR YOUR FEDEX 401(K)

Posted by Michael Kane, CFP®
On February 21, 2019

As a FedEx pilot, you are now able to view and manage your Pilots Retirement Savings Plan (PRSP) at Fidelity. You also now have access to professional investment management for your PRSP/401(k) account through Fidelity BrokerageLink® (BL). WHAT IS BROKERAGELINK®? The PRSP is a critical piece of your retirement plan, and it’s essential for your […]

YOUR CPA, YOUR ADVISOR, AND YOUR FINANCIAL PLAN: WHEN TWO HEADS ARE BETTER THAN ONE

Posted by RAA
On December 11, 2018

When it comes to your long-term financial plan, it’s essential for the advice you receive to account for your overall needs and financial picture. This is especially beneficial when understanding and planning for the impact tax-related factors might have on your financial success. Because taxes can play a key role in your financial outlook, we […]

FINDING A COPILOT FOR FINANCIAL ADVICE

Posted by Michael Kane, CFP®
On October 18, 2018

For the last 30 years, RAA has been focused on serving the financial needs of airline pilots and their families. A part of this commitment requires us to continually understand how pilots are utilizing financial advice, how satisfied pilots are with the support they receive, and what value pilots are gaining from the relationship with […]