Federal Reserve Bank of Atlanta’s Post

"Over the decades, these individuals have witnessed and embraced profound changes in our industry. They have adapted to challenges, guided clients, and mentored colleagues with wisdom and grace." As we hear announcements of retirement and new chapters, STA President and CEO Jim Toes reflects on the remarkable careers and character of those who made an impact on the STA community and the larger industry. Read here: https://conta.cc/4gzwgFm

How familiar are you with the Federal Reserve? Here is a quick history. #fed #federalreserve #fedpolicy

⚾️With Truist Park, home of the Atlanta Braves, just across the highway, it’s no surprise America’s favorite pastime often inspires our financial planning analogies. Like rounding bases, your financial game involves careful planning and preparation, from building wealth to retirement. There may also be some curveballs along the way but we’re here to coach you through every play. Read Vice President of Sales Larry Mendel’s latest blog post for tips on staying ahead of the game: https://lnkd.in/eQ6k7h8k #MONTAG #FinancialPlanning #AtlantaBraves #Atlanta #FinancialTips

How familiar are you with the Federal Reserve? Here is a quick history. #fed #federalreserve #fedpolicy

If you follow any of the recent or upcoming draft picks, you see athleticism at its finest. Seeing the excitement also reminds me of how many of these young athletes will soon be entering into a world of wealth, and how important it is for them to understand all aspects of their finances to prevent “Sudden Wealth Syndrome.” Given the short span of professional sports careers (less than six years depending on the sport), it’s critical we support athletes in preparing for their long-term future including defining their purpose, legacy, or even second career. This includes: *Protecting financial exposure and risks *Understanding how to transition away from the game and still be financially stable *Funding healthcare costs after a sports career is over *Building plans for a second income *Partnering with tax attorneys to address things like tax incomes, residencies, signing bonuses I’m proud of Jeff Dunn and our Truist Wealth Sports & Entertainment team for all the work they do surround athletes with trusted advice and prepare them for a successful future. https://bit.ly/44tTBmK #TruistWealth #TeamTruist

A Northwestern Mutual study found that Black individuals with an advisor expect to retire three years sooner (age 61 vs. 64). They also have almost three times more in retirement savings on average than Black consumers who do not have a financial advisor ($71,000 vs. $26,000). They also expect to pay off their college debt five years earlier (by age 41 vs. 46). 36% of Black Americans work with a financial advisor, and that’s 100% of the reason why I started at 401 Financial.

Last week, Jenny Swift and I talked about the importance of DC pension investment for Pension Awareness Day. Here, Jo - our CIO - goes into more detail about how we achieve such great results for our members. As always - get in touch if you'd like to discuss more.

How familiar are you with the Federal Reserve? Here is a quick history. #fed #federalreserve #fedpolicy

What’s the valid criteria for retirement for a person? What’s the valid criteria for retirement for you? What does being “retired” even mean, particularly in your case? How old is it acceptable to be before you retire? Why is that a valid age for retirement versus any others? (And a big thanks to Meagan Thrift for helping me ideate through these topics. And to Meagan Boson and Brian M. Rodgers for their recent thoughts on the subjects.) Webster’s Dictionary tells us that “retired” means “withdrawn from one's position or occupation : having concluded one's working or professional career” (https://lnkd.in/gr697k9b) So that’s one definition. But #retirement means something different to every individual. What happens when you’re spending most of your time doing unpaid volunteer work or pro bono work or both? And what’s the psychological impact and meaning of all of these terms, specifically to you? I think that each person - and frequently a couple - has to figure out these answers for themselves. But it is a complex and complicated problem to unravel. And an individual can feel immense pressure to continue to be productive and not retire, particularly in our American culture. I’ve had the opportunity to coach several individuals lately as they make a pivot or transition in their careers and lives. Inevitably, in one of the conversations as they look for what they want or need to do next, is what do they need to keep their family comfortable and going. Many of these individuals have kids who are probably headed to college. College is incredibly expensive and almost every one of the folks I speak with doesn’t want their children to finish higher education and be indebted from the experience. That is incredibly awesome and definitely something that each person must consider. But we really need to have hard conversations and considerations. I love the Kenny Chesney song “The Life” for the thoughts he shares about running the rat-race to make enough to retire and fish, particularly when he comes across a fisherman in the process. (https://lnkd.in/gz7EQ9RP) This is certainly something to consider in the process. I'd love to hear you share your thoughts on these questions at topics below. #executivecoaching #leadershipdevelopment #leadershipcoaching #leadership #retirement