Key Financial Factors First Responders Should Review in 2025
Many first responders are reevaluating their financial plans this year. Here are a few areas worth paying attention to:
Overtime fluctuations: Variable income can affect long-term savings projections and retirement planning.
Retirement plan updates: Some agencies are adjusting contribution limits or pension guidelines—knowing your plan’s details is essential.
Cost-of-living increases: Rising expenses make regular cash-flow checkups more important.
401(a) and 457(b) strategies: Understanding contribution rules, distribution timing, and tax considerations helps you use these plans effectively.
Earlier retirement timelines: Many first responders retire sooner than other professions, so reviewing benefits, healthcare options, and income sources is important.
I focus on providing educational guidance tailored to first responders, helping you understand how these factors may influence your long-term financial planning.
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It’s hard to believe the year is already winding down! While shopping, baking and holiday gatherings may be at the top of your to-do list, don’t forget to carve out time for a year-end financial checkup.
Taking these 6 steps now can help you minimize your taxes, strengthen your savings and start the new year on solid footing.
👉 If you’d like personalized guidance, let’s connect.
See thrivent.com/social for important disclosures. Thrivent and its financial advisors and professionals do not provide legal, accounting or tax advice. Consult your attorney or tax professional.
Tax tips & pitfalls: What to know to maximize your moneyLooking for ways to optimize your income taxes year-round and helpful tips for navigating tax season? From leveraging charitable contributions to common tax errors to avoid, take a look at this helpful guide. ⤵️
🚓 First Responders: Are You Maximizing Your Year-End Benefits? 🚒
Before the calendar flips, now is the perfect time to review financial tools and benefits designed to support you and your family. Some key areas to check:
• Retirement Accounts: Review your contributions to your 401(a), 457, or IRAs.
• Tax Deductions: Don’t miss work-related expenses, charitable contributions, or other eligible deductions.
• Health Savings Accounts: Eligible HSAs can provide tax-advantaged growth for medical expenses.
• Education & Professional Development: Use any remaining allowances for certifications, licenses, or training.
• Emergency & Education Savings: Extra income or seasonal pay can be directed to savings or 529 plans.
• Insurance Review: Confirm health, life, and long-term care coverage is current.
• Work-Related Benefits: Make sure all allowances, stipends, or perks are used before year-end.
🔎 A structured year-end review can ensure benefits are fully utilized and financial records are organized for the year ahead.
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Taxes can quietly shrink your retirement savings. Even small changes in what you pay can make a big difference. Reach out to discuss ways to keep more of what you’ve earned.
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Financial Planning for First Responders
The men and women who serve as police officers, firefighters, EMTs, and dispatchers face unique challenges. The demands of long shifts, physical risks, and the mental toll of the job often leave little time to focus on personal financial health.
Yet, having a plan in place can make a real difference. For many first responders, financial planning may involve:
Understanding pensions and retirement options – such as 401(a), 457(b), and DROP programs, which each have unique rules.
Preparing for an earlier retirement age – common in this field, but requiring careful planning to ensure assets last.
Balancing short-term needs with long-term goals – like paying down debt, saving for children’s education, or creating a retirement income strategy.
Protecting family security –prepare for the unexpected, both on and off the job.
Addressing health and wellness – recognizing that financial stress is closely tied to overall well-being.
As a former police officer, I’ve seen firsthand the sacrifices first responders and their families make. Today, my focus is helping them understand their options, so they can have a better understanding of the future they’re working so hard to protect.
If you’re a first responder — or support someone who is — I’m always happy to share educational resources and start a conversation about the unique financial factors in this profession.
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Financial Well-Being Tips for First Responders
First responders face unique financial challenges—from frequent overtime and unpredictable schedules, to the physical and emotional toll of the job. Here are practical steps to get ahead and build long-term stability:
- Start with a budget: understanding every income source (base pay, overtime, etc.) vs. expenses gives clarity on what can be saved.
- Break the debt cycle: use a debt payoff strategy (like the snowball method) for motivation and steady progress.
- Build emergency savings: little by little, set aside cash for unexpected expenses so you’re not reliant on last minute work.
- Plan for retirement early: even if you have a pension or other benefits, it often won’t cover everything, so supplementing with savings and investing can make a difference.
- Have transparent money conversations: with family or loved ones about goals, challenges, and shared financial responsibility.
If you're a first responder (current or retired), it’s never too late to take control of financial wellness. Small, consistent actions can add up—and reduce stress in both work and home life.
📌 No products will be sold. See thrivent.com/social for important disclosures.
Pros & cons of paying off your mortgage before you retireIf you’re nearing retirement with a mortgage in tow, you’re not alone. But should you pay it off before you retire?
While being debt-free can offer a sense of reassurance, in some cases, keeping your mortgage might actually be beneficial. Explore the pros and cons of having a mortgage during retirement.
Many first responders have access to a 401(a) or similar retirement plan, yet very few departments provide in-depth guidance on how those funds should be managed over a lifetime. While pensions remain a key benefit for some, they are becoming less common, and more of the responsibility for long-term financial security now falls directly on the officer.
A few realities worth considering:
Longevity: Officers are living longer after retirement. That means your 401(a) balance may need to last 25–30 years or more.
Distribution Planning: It’s not just about how much you save, but how you draw from those funds in retirement. Withdrawals impact taxes, investment growth, and the sustainability of your income.
Decline of Traditional Pensions: Where prior generations may have relied solely on a pension, today’s first responders must increasingly coordinate 401(a), 457(b), and IRA savings to cover expenses.
Responsibility Shift: The burden of making these funds last is no longer primarily on the department or the pension system—it’s on the individual officer to understand their plan and prepare.
These are big questions with long-term consequences, and the earlier they’re addressed, the better positioned an officer will be in retirement.
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Any time your life changes, your financial plan deserves a fresh look. Here are different life events that may trigger a need to update your life insurance coverage: https://bit.ly/47koSvA
Your Pension: Your Greatest Asset—and Critical to Your Next Chapter
As a former police officer, I understand firsthand that a pension isn’t just a benefit—it’s often the backbone of a first responder’s retirement plan. Whether you’re a year away from hanging up the uniform or still in the middle of your career, understanding your pension now can prevent costly surprises later.
Here are five key questions every officer should know the answers to before retiring:
1. Is there a cost-of-living adjustment (COLA)?
A fixed pension can lose buying power over time. Knowing if yours adjusts for inflation is critical to protecting your long-term lifestyle.
2. How will my pension be taxed?
Federal and state tax treatment can significantly impact your take-home income. Understanding the tax rules ahead of time allows for more effective planning.
3. What if I move out of state?
Some states are more pension-friendly than others. Relocation could change your net income in ways you might not expect.
4. Can I work another job and still receive my pension?
Many jurisdictions have limits or restrictions. If you’re considering post-retirement work, it’s important to understand the rules.
5. Are healthcare costs deducted from my pension?
In some cases, premiums or other deductions can reduce your monthly benefit. Knowing this ahead of time helps avoid surprises.
The more you know now, the more prepared you’ll feel when it’s time to step into life after the badge.
📌 No products will be sold. See thrivent.com/social for important disclosures.
Retirement savings by age: How much should you have?Planning for retirement can seem like a long and complex journey. Knowing how much to save is a foundational piece of achieving your retirement goals—check out these planning milestones based on your age.
🔎 Financial Wellness in Law Enforcement: The Overlooked Risk Factor
When most people think of law enforcement training, they think of firearms, tactics, and physical preparedness. But one area that's often overlooked is financial wellness—despite its measurable impact on job performance and long-term outcomes.
Officers deal with high-pressure situations, unpredictable schedules, and unique retirement structures. But very few departments provide consistent education around budgeting, retirement planning, debt management, or investing fundamentals.
📊 Consider these facts:
- A recent study from the American Psychological Association found that 72% of adults experience financial stress, making it one of the top reported stressors nationwide.
- First responders are especially vulnerable, often relying on overtime or secondary employment to meet financial goals.
- Many agencies still do not offer structured financial education, even though early career planning can make a significant difference over time.
As someone who spent years in law enforcement before moving into the financial space, I’ve seen firsthand how lack of education in this area can lead to challenges later in life—especially for those facing early retirement, injury, or unexpected career transitions.
✅ What can agencies do?
- Offer voluntary, non-product-specific financial literacy workshops for officers at all stages of service.
- Bring in professionals who understand the unique financial structure of law enforcement compensation and pensions.
- Treat financial education the same way we treat physical and mental preparedness: as part of the foundation of a healthy, sustainable career.
There’s growing recognition that supporting officers means more than just tactical training. Financial wellness deserves a seat at the table.
📌 No products will be sold. See thrivent.com/social for important disclosures.
Helping first responders manage financial stress requires a multi-pronged, practical approach:
Acknowledge the pressure: Recognize how financial concerns can affect mood, sleep, and focus.
Tap into support resources: Explore employer or community financial counseling, debt‑management tools, and educational workshops.
Build a clear budget: Track income and expenses, prioritize essentials, and carve out savings and emergency reserves.
Define realistic goals: Set measurable, short‑ and long‑term objectives—such as paying down debt or saving for retirement—and celebrate incremental wins.
Tackle debt strategically: Aim at high‑interest balances first, consider consolidation, and negotiate improved repayment terms.
Include holistic self‑care: Habitual stress management—like rest, exercise, or connecting with loved ones—reinforces overall resilience and supports financial decision-making.
By combining support access, structured planning, goal setting, debt reduction, and wellness practices, first responders can navigate financial challenges and strengthen their financial posture.
📌 No products will be sold. See thrivent.com/social for important disclosures.
From the Fairways of California to the Peaks of Colorado: A Week of Purpose and Partnership
The past few days have been an incredible journey—starting with a win at a charity golf tournament in California, supporting wildfire relief efforts, and culminating in an inspiring time at the Colorado Association of Chiefs of Police Annual Conference in Estes Park.
At the conference, I had the privilege of engaging with Colorado's police leadership, discussing ways to support the brave men and women in law enforcement. The event provided valuable insights into the challenges faced by our officers and the importance of providing them with the necessary resources and support.
These experiences have reinforced my commitment to collaborating with law enforcement agencies to develop solutions that address their unique needs. By working together, we can ensure that our officers are equipped to serve and protect our communities effectively.
I'm eager to continue building these partnerships and exploring innovative ways to support our law enforcement professionals.
#LawEnforcement #CommunitySupport #PublicSafety #Leadership #Collaboration
The Financial Reality Facing Law Enforcement Families
In working with first responders, I’ve seen firsthand how financial stress can quietly build over the course of a career—not just at the beginning or near retirement, but in the long middle years when life is the most demanding.
Many in law enforcement are under increasing financial pressure—balancing demanding shifts, family responsibilities, and rising costs of living. The weight often falls not just on the officer, but on the entire household.
Too often, financial wellness is addressed only at the start of a career or during separation planning. But the 20–30 years in between? That’s when consistent, trustworthy support matters most.
Helping law enforcement professionals and their families build clarity and confidence in their financial decisions doesn’t just improve outcomes—it relieves one more source of stress in a job already full of it.
If you’re serving in uniform—or supporting someone who is—make sure there’s a strategy in place not just for today, but for the years ahead. And make sure you’re working with someone who understands the unique demands of the job.
📌 No products will be sold. See thrivent.com/social for important disclosures.
#FirstResponders #FinancialPlanning #RetirementPlanning #PublicService #Wellness #PurposeDrivenPlanning
Serving Those Who Serve: The Critical Role of Financial Planning for First Responders
First responders dedicate their lives to protecting our communities—often facing unpredictable schedules, high stress, and physical risk. Yet when it comes to their own financial futures, many are navigating complex benefit systems, unique retirement structures, and evolving needs with limited guidance.
Having worked alongside and within this community, I’ve seen firsthand how essential tailored financial planning is. From understanding pension options and deferred comp plans like 457(b)s, to preparing for earlier-than-average retirements, or planning for long-term care and disability—first responders face a financial landscape that demands a customized approach.
A few key considerations I highlight in every planning conversation:
-The importance of integrating employer-sponsored benefits with personal financial goals.
-Navigating early retirement options while balancing longevity and lifestyle.
-Planning for the mental and emotional impact of career transition—because financial wellness is part of total wellness.
-Building a plan that can adapt to the high demands and changing needs of the profession.
Financial planning for first responders isn’t one-size-fits-all—it’s personal, intentional, and built with a deep understanding of their unique path.
If you or someone you know is navigating this journey and has questions, I’m always open to a conversation.
📌 No products will be sold. See thrivent.com/social for important disclosures.
#FirstResponders #FinancialPlanning #RetirementPlanning #PublicService #Wellness #PurposeDrivenPlanning
🔹 The Hard Truth About Police Retirement 🔹
Many officers look forward to retirement as a time to rest and enjoy the rewards of years of service. But for too many, the financial side of retirement doesn't look the way they expected.
After decades of protecting and serving, some retirees find themselves facing a tough reality: either drastically reduce their lifestyle or find another job to make ends meet.
This isn't due to a lack of discipline or sacrifice—it often comes down to a lack of planning, limited resources, or not fully understanding how retirement income actually works.
✅ Here's the good news: with the right strategies in place before retirement, it's possible to build a plan that aligns with your values, priorities, and goals.
Whether you’re a new officer or approaching the end of your career, it’s never too early—or too late—to start building for the road ahead.
📌 No products will be sold. See thrivent.com/social for important disclosures.
#PoliceRetirement #FirstResponderWellness #FinancialPlanning #LawEnforcementLife #RetirementReady #PlanWithPurpose
🚨It’s National Police Week—something I’ll never overlook🚨
When I was working in law enforcement, it often felt like every day was “National Something Day”—but not enough people were publicly recognizing the sacrifice and service of the men and women behind the badge.
Now that I’m no longer in the profession, I find myself even more intentional about celebrating it. I know what it takes. The long nights, the missed holidays, the weight of the job—and still showing up humbly to serve your community.
To all those who wear the badge with integrity and compassion: THANK YOU! You don’t do it for recognition, but you deserve it all the same.
This week, and every week, I’m grateful for you.
#NationalPoliceWeek #LawEnforcement #HonorTheBadge #ThankYou #FirstResponders #Code4Life #NeverForget
💐Happy Mother’s Day to the real heroes behind the scenes💐
As someone who spent over a decade in law enforcement and now works with first responders and families on their financial wellness, I’ve seen firsthand the incredible strength and sacrifice of mothers—especially those supporting our everyday heroes.
Whether they’re holding it down at home while a spouse works a night shift, raising resilient kids, or serving on the front lines themselves, moms embody courage, compassion, and quiet strength.
To my wife Kara—watching you step into motherhood has been one of the greatest honors of my life. Our little one is lucky to have you.
To all the moms in uniform, behind the badge, or simply holding it all together: thank you. Your love is a calling too.
#MothersDay #FirstResponderFamilies #Code4Life #FinancialWellness #FamilyFirst
