Carlson Planning Company

05/21/2025

Firefighters don’t get to choose when they retire. The job decides for them. If your career ends in your 50s, your money needs to last longer, and start working harder.

Here’s how to plan for financial independence on a timeline you didn’t choose.

Read the full post:

Mandatory retirement ages can end your fire-service career before you feel ready, but they also set a clear deadline for Financial Independence Retire Early. This post maps your hard exit date, shows how 457 funds become a bridge paycheck, and explains tactics to cover health care until Medicare. We...

05/05/2025

May is when small financial decisions start to matter more.
For firefighters, this month brings changing income, family obligations, and career transitions that can quietly shape your long-term plan.

In this week's post, I walk through three moves to consider right now:

Realign cash flow with seasonal OT or side income

Use your tax return to tighten up midyear strategy

Time promotions, transfers, or DROP decisions with precision

Read the full article:
https://www.carlsonplanning.co/post/financial-mayday-can-be-avoided-with-a-plan-this-month

This is a great time to review your numbers and lock in your next steps. If you're ready to take a closer look, let's talk.

Firefighters know that reacting late can cost you. The same goes for your finances. May is the ideal month to fine-tune your cash flow, reevaluate your tax picture, and align your career and retirement goals before summer ramps up. Whether you're managing OT income, preparing for DROP, or adjusting....

04/29/2025

Think every financial planner is selling a product? Read my new piece on advice-first planning and see how goal stress tests, smart tax moves, and calm market coaching work without a sales pitch.

If a financial planner isn’t trying to sell you anything, what’s he actually doing? Turns out, quite a bit. From stress-testing your goals to coaching you through market chaos, a fee-only fiduciary delivers advice—not a sales pitch. This blog breaks down what a planner who isn’t chasing comm...

04/17/2025

This Has Happened Before. What’s Your Plan if It Happens Again?

In 1933, Executive Order 6102 made it illegal for Americans to own most forms of gold. Citizens were required to turn in their gold to the government in exchange for cash, right before the government revalued gold higher.

Why? To “protect the monetary system.”

In reality, it confiscated hard-earned savings and changed the rules overnight.

Most people today have never heard of EO 6102. But at Carlson Planning Company, we think it’s critical to understand one thing:

The rules can change. Fast.

Especially in times of crisis.

As firefighters, you’ve trained to prepare for the unexpected. Your gear, your drills, your instinct—it’s all built for when the worst-case scenario shows up without warning.

What about your financial plan?

We’re not predicting gold confiscation 2.0. But in a world of growing surveillance, rising debt, and digital currencies, ownership and access to your money may not always look the way it does today.

We help firefighters build plans that:
- Diversify across systems, not just asset classes
- Consider custody risks and control
- Account for historical precedent—not just projections

Your pension, your savings, your family’s future—they deserve a plan that’s fire-tested, not fragile.

This isn’t fear-mongering. It’s preparation.

And it starts by asking: What would you do if the rules changed tomorrow?

04/07/2025

Markets drop. Plans don’t have to.

Marcus Aurelius—yes, the Roman emperor—once wrote, “You have power over your mind, not outside events.” That line hits different when the market’s down and the headlines are screaming.

Corrections aren’t chaos. They’re a reminder to focus on what you can control. And often, they open up planning opportunities that aren’t available when everything’s booming.

Wrote a piece about it here:
https://www.carlsonplanning.co/post/when-the-market-drops-your-plan-shouldn-t

If you’re into Stoic philosophy, smart financial strategy, or both, this one’s for you.

Market corrections happen. Your plan shouldn't fall with them. Here's how perspective and planning create opportunity.

04/03/2025

Student loans are back—with a vengeance.

The SAVE plan? Paused in court.
Credit reports? Now penalizing federal student loan balances again.
And PSLF? Still the bureaucratic, politicized maze it’s always been.

Helping clients—especially firefighters—work through PSLF has been part of my job for years. But keeping up with these ever-changing rules has taken years off my life. What was billed as a pathway to debt freedom has proven to be false hope for millions.

Now, to top it off, loan balances are once again dragging down credit scores. Borrowers who followed every rule are getting hit simply for trying to stay afloat.

And here’s the kicker: If you're enrolled in the SAVE plan, you're likely in legal limbo. Months spent in mandatory forbearance won’t count toward loan forgiveness. That’s a devastating blow for public servants who were counting the months to be done.

If you're pursuing PSLF:
- Certify your employment annually
- Consider switching to a qualifying plan like IBR if SAVE forbearance is stalling your progress
- Check your credit report for errors (they’re more common than you’d think)
- Don’t assume the system is working in your favor

I've seen this up close. It’s exhausting, frustrating, and inexcusable—but it’s real. If you’re feeling overwhelmed, I’m here to help you navigate it.

02/25/2025

The Hidden Math Behind Every Firefighter's Retirement

Firefighters protect our communities every day - but who's protecting their financial future? Our new guide reveals the critical pension elements most firefighters overlook.

Did you know that timing your retirement by just a few years could significantly impact your monthly benefits? Or that supplemental savings vehicles like 457(b) plans might be the difference between comfort and struggle during retirement?

After decades of service, you deserve more than just getting by.

Learn how pension multipliers, service credit buybacks, and smart retirement timing can maximize what you've earned.

Read our latest article to discover if your retirement strategy is as solid as your commitment to service. Not sure where you stand?

We offer consultations to help you build a financial future worthy of your sacrifice.

Is your retirement plan battle-ready, or is it time for a thorough inspection under your financial hood?

Learn firefighter pension basics, retirement timing, and savings strategies for post-service financial security.

02/20/2025

02/18/2025

🚒 Retired Firefighters: Don’t Let This Be You 🚨

You worked hard for that pension and DROP money—don’t burn through it too fast. One bad move can wreck your retirement plan.

Swipe through our latest carousel post to see the common mistakes firefighters make in retirement—and how to avoid them.

📲 Check it out now & take control of your financial future!

12/12/2024

Those JCPenney Christmas catalogs and colored pencils at my grandma's kitchen table taught me more about joy than any gift ever could.

As a financial planner and parent, I've been reflecting on how different holiday shopping looks for our kids today. No more circling wishes in catalogs - now it's endless scrolling through targeted ads and influencer "must-haves."

But here's what I realized: The magic wasn't in what we circled – it was in being together, dreaming together, and creating traditions that lasted longer than any toy.

I shared my thoughts on balancing holiday magic with mindful spending, and how we can teach our children that the greatest gifts can't be found in a shopping cart (digital or otherwise).

Read more about finding joy beyond the gift list: https://www.carlsonplanning.co/post/what-grandma-s-kitchen-table-taught-me-about-holiday-joy

Remember circling wishes in holiday catalogs? A family tradition teaches unexpected lessons about finding holiday magic beyond the shopping

10/31/2024

The Station Surprise: When Retirement Funds Meet Motorcycle Dreams

There's a peculiar yet heartwarming moment in many firefighters' careers when they discover their union-backed retirement funds have grown substantially over their years of service. The reactions are often predictable: first comes the surprise, then the mental calculations, and then - like clockwork - someone mentions Harley-Davidson.

It's become something of an inside joke in firehouses across the country. The minute those fund statements come out, you can practically hear the rumble of imaginary engines. While the responsible financial advisors in the room collectively hold their breath, at least one firefighter will inevitably say, "So... I could get a Harley?"

The real value of these union-backed retirement funds lies in their ability to provide long-term security - even if that security doesn't come with quite as much chrome and leather as some might initially dream about.

Here's to smart financial planning, even when it means keeping those motorcycle fantasies in the dream garage for a little longer.

10/29/2024

Attention Firefighters: Managing Multiple Retirement Accounts

If you've found yourself with several retirement accounts—like a 457(b), Union Annuity DROP, and a Pension—taking a few key steps now can set you up for a more secure retirement:

Take Inventory: Start by listing each account along with details like contribution levels, employer match (if any), vesting periods, and rules for withdrawals. This clarity will help you make informed decisions.

Plan Your Strategy: Each account type offers different tax treatments and growth options. Developing a strategy that coordinates these benefits can potentially reduce your tax burden and optimize growth.

Understand Payout Choices: DROP accounts and pensions often provide unique payout structures. Knowing how these options align with your financial goals can make a significant difference in your long-term security.

Seek Expert Guidance: Consider consulting a financial advisor experienced in public sector or union retirement plans to help you organize, consolidate, and optimize these accounts. A tailored approach can enhance your retirement planning and peace of mind.

By addressing these areas, you can build a more effective plan for a comfortable and well-supported retirement.