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Coping with Financial Issues of COVID-19 - Part 51

Money Talks

Money talks

ST. JOSEPH, Mo. --

Greetings to the 139th Airlift Wing, “Always Ready, Always Willing”! The Wing will be returning to full on base staffing. During September I will still be teleworking on Mondays, but beginning October 4th, I will be on base Monday-Friday, 7:30 a.m. to 4:00 p.m. If you have any questions regarding the Advanced Child Tax Credit, your monthly spending plan, income tax planning, or ROTH accounts as part of your retirement planning, please email, text or call me for a meeting or to schedule a briefing for your area.

Please also remember my Open Topic Zoom sessions on Tuesdays for a chance to just drop in with your question. These will also be on the Wing SharePoint and the Resiliency Team calendar for your reference. I have included the Touch Point schedule for September below. Remember these are available if you have not met the required attendance through an online application. All AFI Touch Point briefs use the MS Teams application. As always, contact me with any additional questions. 

September

  • 12th - FTP-PCS
  • 14th - FTP-PCS
  • 21st - A&FRP-Retire Ready
  • 28th - FTP-FDS-Officer

Tuesday Open Topic Drop-ins: 7th, 14th, 21st, 28th

Maintain Control of Your Money
A spending plan gives you control. Your plan will clearly show how much money you have coming in, what you’re spending it on and where you can make trade-offs to come up with extra cash. It’s also your first step in meeting larger financial goals. With a spending plan in place you will be better able to find the money you’ll need to reach them. Please access this link for more information.

Roth Accounts in Your Retirement Plan 
If you participate in a 401(k), 403(b) or governmental 457(b) retirement plan that has a designated Roth account, you should consider your Roth options. With a designated Roth account, you can:

  • Make designated Roth contributions to the account.
  • If the plan permits, roll over certain amounts in your other plan accounts to the Roth account.

For more details on Roth employer-sponsored accounts, follow these links:
https://www.investor.gov/additional-resources/retirement-toolkit/employer-sponsored-plans
https://www.irs.gov/retirement-plans/roth-acct-in-your-retirement-plan
https://www.tsp.gov/making-contributions/traditional-and-roth-contributions/

Don’t hesitate to reach out by phone, text, email or ask for a private Zoom session for you or your family members. Be financially proactive and STAY SAFE!

Randy Gerard, PFC
C (573) 415-6934
O (816) 236-3659
pfc.rosecrans.ang@zeiders.com

This month’s thought: “When I was young I thought that money was the most important thing in life; now that I am old I know that it is.” ~Oscar Wilde