Jumpline MAG_Sum_Fall 2025 - Flipbook - Page 17
Retirement Strategies
Mark Buckley, Ret.
5. Work With a Quali昀椀ed Financial Advisor
Not all advisors are created equal. Look for a quali昀椀ed advisor
who is required to act in your best interest. They should understand the retirement bene昀椀ts and risks speci昀椀c to 昀椀re昀椀ghters
and 昀椀rst responders in Florida.
A good advisor can help with:
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Investment selection
Tax-ef昀椀cient withdrawal strategies
Required Minimum Distributions (RMDs)
Long-term planning for healthcare and estate needs
Avoid commission-based products with high fees unless they
serve a very speci昀椀c and clear purpose.
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Minimize RMD impacts later in life
Your goal should be to reduce your lifetime tax bill, not just this
year's.
Conclusion
As a retired MDFR 昀椀re昀椀ghter, you’ve worked hard to earn
your retirement bene昀椀ts. Now it's time to make them work for
you. With careful planning, the money you've set aside in your
D.R.O.P., 457 and/or FRS Investment Plan accounts can grow,
support your retirement lifestyle, and provide peace of mind.
But the decisions you make—especially around rollovers and
withdrawals—can have long-term consequences. Take time to
understand your options, avoid common pitfalls, and seek guidance when needed.
6. Use Tax Strategy to Your Advantage
You've served your community with courage and dedication.
Now, let your money serve you just as well.
Every dollar you withdraw in retirement may be subject to
income tax. By working with an advisor or tax professional,
you can:
I meet with MDFR 昀椀re昀椀ghters every week to work out a strategy
that 昀椀ts each one. Reach out to me if you have any questions or
issues to discuss.
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Strategically time withdrawals to stay in lower tax brackets
Again, Be Safe!
Consider Roth conversions in low-income years
Mark Buckley
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Summer/Fall 2025 | JUMPLINE Magazine
