The Helper locomotive is there to assist trains to get over steep grades. This blog serves the same purpose. It is here to help give ideas to get you over those steep financial grades that lie ahead of you. I hope you enjoy!
A classic lyric by the Allman Brothers gives a good overview of the public's view of financial advisors. In this video I'll help railroaders understand what they should be looking for when they seek financial advice.
Before you decide to leave the railroad industry, here are some items to think about before you make your decision.
With the railroad industry going through transformational change, railroaders who leave the railroad should learn differences in the buyout options according to the Railroad Retirement Board. There is a big difference will effect your benefits.
Where is your income coming in from in Railroad Retirement? Understanding the answer to this question is a key building block to any successful retirement plan. Learn the basics of retirement income for railroaders and the guidelines for spending in retirement.
Learn this strategy that allow you to collect your Railroad Retirement benefits and Social Security in retirement. This approach is geared toward railroaders who spent only a limited time in the railroad but still vested into the RRB.
Understand the value of Tier 2 benefits for Railroad Retirement 1. Guaranteed Retirement Income 2. Replacement Value of Tier 2 3. Opportunity to adjust Retirement Glide Path
Performance Share Units(PSUs) for railroaders are a tremendous wealth building form of equity compensation. However you are going to have exceed the benchmarks set the railroad to really cash in. Learn the why they came about, how they payout, taxes, and more...
Many Railroaders get equity compensation in the form of Restricted Stock Units (RSUs). Learn everything you need to know about the grant of RSUs that you received from the railroad.
Railroaders need to decide what level of risk helps you reach your financial goals, and must understand the upside and downside of the risks you take.
When you depart from serving your railroad either through job change or retirement, you can take your 401k with you or not. Learn about some of the benefits of rolling your 401k into a Traditional IRA. Decide when it makes sense and when it doesn't.