Latest news with #Thrift
Otago Daily Times
29-04-2025
- Lifestyle
- Otago Daily Times
How to swap - not shop
What if you could get a shopping buzz without blowing the budget? RNZ podcast Thrift meets three Christchurch friends doing just that. Trina Edwards, Anthea Ibell and Sarah Cragg all love clothes and shopping, but want to get the dopamine hit of a new wardrobe without draining their bank accounts. Ibell runs her own sustainability education business as well as a Facebook page promoting second-hand shopping. 'I love the idea of being able to all come together and bring all of the things that you no longer need and just share them amongst your own community,' Ibell tells RNZ's Thrift podcast. A clothing swap does exactly as the name suggests - and they're becoming more popular. Ibell is a clothing swap veteran and believes the key to making a swap run smoothly is to creating a respectful environment and serving quality goods to the group. 'Nobody is barging in; all of the attendees are excited and happy to be there.' For some, part of the appeal is not just that buzz that comes from getting something new but also knowing that their pre-loved clothes will go to a good home. For Edwards, it's the enjoyment she gets styling her friends. 'I do like helping other people to find things that will look good on them, and I'm quite good at that, and so I actually find quite a lot of joy in that side of it.' Decluttering is also a motivation. 'This is the wrong place probably to admit it, but I'm a clothing hoarder,' she says. 'I have a very well-loved and well curated wardrobe from multiple decades.' Here's what to think about to make a swap work well. Follow and listen to Thrift on Apple Podcasts, Spotify, iHeart, YouTube Music or wherever you get your podcasts. Get organised Lay some ground rules: set limits early, who's coming and how many people are invited? Lay items out or hang them up in categories such as dresses, pants and bags and the condition of the clothes is important - they should be freshly washed with no rips, holes or broken zips. You should also provide a mirror, or several depending on how many people are attending, and a private space to try things on. Develop your negotiating skills If more than one person really like the same item - It might fall to the host to mediate or even toss a coin. Some swap parties set the number of items that each person can bring, and then they take the same number home. Others use a system where guests get a token for every piece of clothing they bring. At some swaps you can also pick a number from a jar. The numbers determine who gets first dibs on the clothes. Thought must be given to how to handle the leftover clothes - should they go to the op-shop or does the person who brought them takes them home? Consider the target audience If you're organising a swap, think about who will be attending. Swaps can be tailored to offer the kind of items that serve a real need, for example, children's clothing. 'Anybody with a kid knows that they grow out of stuff really quickly, and so being able to share stuff amongst friends and essentially the traditional hand me down thing is an awesome way to save quite a lot of money," Ibell says. The swap doesn't need to be just clothes - you could do one before Christmas to get sustainable presents for your family, or have a theme if there are particular things people need - household items or sports equipment.
Yahoo
12-04-2025
- Business
- Yahoo
Wrens reviews recent list of grant-funded projects
Citizens of the city of Wrens vocal support of SPLOST initiatives are soon going to see their votes for city and county initiatives come to fruition. Last Tuesday night's meeting, April 1, had a brief agenda and after the procedural votes and approval of agenda and past work session minutes, City Manager Arty Thrift walked the council and those assembled through the city's finances. Thrift went over the revenue and expenses of the different funds that make up the city's budget. 'Right now we are in a positive position regarding the budget, but we have projects that we are doing which will have expenses. We also know that the budget starts tighten in the summer months,' Thrift said. Before starting the financial presentation, Thrift shared the news that DTS was the company contracted to remove all storm debris from Hurricane Helene off roadsides throughout Jefferson County, including Wrens. '1,370,000 cubic yards of debris has been hauled off from Jefferson County," Thrift said. "This is the end of the paid removal, so if anyone still has debris on their property it will be the responsibility of the property owner to remove any remaining debris." The 2023 CDBG Housing Grant is a million dollar grant that will remodel, rehab, and repair 10 residential homes in the Magnolia Heights Subdivision. According CSRA Grant Administrator Sydney Stouffer two houses have been completed and three more are scheduled for a contract sign up. One of the major future expenses for the city of Wrens will be a new well project. Turnipseed Engineers stated the project will cost $2,498,300. Thrift said the city has agreed to pay $185,000 towards the project. The city received a $2,313,300 grant from GEFA that would grant $2,081,894 in principal forgiveness. 'That would leave us with a balance of $231,300," Thrift said. "Considering the $185,000 initial outlay, the city's total commitment is $416,300 (projected cost). Regarding the $231,300 balance we have some options on how to pay that. GEFA can set up a long term loan to pay off the balance. However, we do have money from the 2022 SPLOST that we have earmarked for water/sewer projects including $181,538 for water/sewer projects.' Updating the well project, the test well has been dug. Water has to be tested for quality and analyzed to make sure it is safe to bathe in, cook and drink for the citizens of Wrens. In addition the volume requirements need to be 1,000 gallons per minute. 'We also still have funds from the American Rescue Plan Act 2021, which was a federal grant program associated with COVID relief," Thrift said. "We have $345,509 left on the grant which the city dedicated to water system projects. This could assist in helping finance the new well project and the American Tank Maintenance Project. Once the new well is built you have to maintain the tank and the EPA inspects them and maintenance can be expensive.' Wrens also was awarded a 2022 GEFA grant of $100,000. Throughout Thrift's report he reiterated his and the council's gratitude for citizens voting for SPLOST over the years. 'I want to tell you how much easier it makes our job when we have a citizens that vote for SPLOST so we can do projects and make improvements. Not just Wrens but Jefferson County always has supported SPLOST votes,' Thrift said. The city also received a CSRA TIA that can be used for transportation projects, equipment, and administration. Wrens Fire Department received a 2024 First Responder grant of $15,000 that the department has already ordered the equipment. Thrift also pointed to a couple of projects that have been funded by Local Maintenance Improvement Grant from GDOT, $42,564 from 2024 is helping cover paving costs on Chalker Street and 2024 Supplemental that provided $58,167 for Howard Street and Mathews Street. 'The 2025 grant will focus on Washington Street," Thrift said. "We got $49,234 from GDOT. The total cost to complete the paving will be $219,000. However, since half of the street is in the city limits of Wrens and half in the county, Jefferson County will help pay for half of the paving. We have also applied for the 2026 grant.' A grant from the Governor's Office of Highway Safety for $23,799 from 2025 helped the police department purchase laser cam and reimburse for program specific work hours and objectives. 'We have also applied for a $17,000 grant for 2026 that is also program specific objectives and work hours," Thrift said. "The program requires us to get out and protect the roads. Make sure we are doing road checks and we send in traffic ticket numbers and DUI's. This grant helps us with expense of doing that.' Finally, Thrift had decided to apply for $15,000 grant from the AARP. Originally, Thrift's goal was to build a pavilion at Johnson Lake. However, since the city didn't meet the specific requirements of the grant, Thrift began to work with Tammie Bennett from Jefferson County Leisure Center, which serves all Jefferson County seniors including those in Wrens. 'We were able to take this grant and we are going to be able to purchase some exercise bikes, treadmills, and other equipment that will help the seniors active,' Thrift said. This article originally appeared on Augusta Chronicle: Wrens manager reviews current grants and coming projects
Yahoo
09-04-2025
- Yahoo
Western North Carolina tourism companies struggle ahead of outdoor season
MITCHELL COUNTY, N.C. (WGHP) — Tourism is essential for the western part of North Carolina, but outfitters are dealing with a new reality as they open back up for the spring and summer season. 'Disaster living is exhausting,' said Christy Thrift, owner of NC Outdoor Adventures. She watches trucks, trailers and excavators work all day long. 'I'm so grateful for the work they're doing, but I'm so tired of the traffic,' Thrift said. The bridges are standing again, and the railroad is getting nailed back together piece by piece. Each crew is slowly rebuilding the mountain and river Thrift loves. 'It's constantly moving. It's a new piece to a puzzle every day. It's a new problem every day,' Thrift said. Some of the big problems with running a river outfitter have solved themselves, like the water quality of the Toe River. An independent tester found very low E .coli counts and no evidence of permeant heavy metals in the water. Thrift is still figuring out how she's going to get people in and out of the water for tubing and rafting since her old concrete put-ins were washed away. On certain trips, everyone will have to wear a life jacket, and she's changing how she talks about the rafting and tubing experience. 'We still have people missing. There's certain things I'm going to have to add to these trip talks that are uncomfortable, and that's something I'll have to do every day,' Thrift said. What people will see is different, too since pieces of homes, cars and lives are hidden in the banks. Thrift likens it to an apocalyptic white water trip. 'It's going to be hard for the guides,' Thrift said. 'They lived through it. We lived through it. The trauma, and then they have to paddle through it knowing what it used to be.' This year, Thrift will open a month later than normal in May, and she's already lost $50,000 from water damage and canceled trips. She also doesn't have any bookings scheduled for tubing and rafting. 'I've been trying to do advertising, but how do I do advertising? All of my pictures have beautiful bridges and these beautiful places,' Thrift said. No matter what it looks like, Thrift and so many others need visitors. 'We thrive on tourism. We're remote and rural … Without it, we won't survive as a town,' Thrift said. NC Outdoor Adventures runs hiking, rafting and tubing tours not just in Western North Carolina but also just outside the Charlotte area. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Forbes
27-03-2025
- Business
- Forbes
Why Managed Accounts Outshine Target Date Funds As You Near Retirement
getty What's better than a set-it-and-forget-it retirement savings strategy? Since 2006, 401(k) plan sponsors have been able to effortlessly encourage their employees to save. Moreover, the preferred savings vehicle—the target-date fund ('TDF')—clearly explains what it does and for whom it's intended. By attaching a projected retirement date to its name (the 'target date'), it's immediately apparent to the retirement saver why that fund makes sense. The beauty of a TDF is that it automatically adjusts the portion of your retirement savings from riskier assets, such as stocks, to safer assets, like bonds, as you age. You don't have to do anything. Once you set it, you can forget it. Alas, an optimal retirement savings framework does not guarantee good results when you need them the most. In fact, because a TDF is a mutual fund, it can fail employees just as they are about to retire. Here's why. There's no question retirement plan sponsors and retirement savers love TDFs. A Vanguard report released in 2024 states that 96% of 401(k) plans offer target-date funds. It adds, 'Eighty-three percent of all participants used target-date funds, and 70% of target-date investors had their entire account invested in a single target-date fund.' That's a lot of eggs in one basket. This isn't necessarily a problem, though, because diversification is achieved within the fund itself, so savers don't have to worry about it. However, when it comes to the ultimate form of safety, the kind retirees want most, these funds fail spectacularly. Once you reach retirement, your biggest concern is likely to be needing to raise cash in a falling market. You avoid this by building up cash reserves just before retirement. 'In the final 2–3 years before retirement, 401(k) participants should begin shifting a portion of their portfolio into more stable, low-volatility assets to protect against sequence of returns risk,' says Richard Bavetz, investment advisor at Carington Financial in Westlake Village, California. 'A market downturn within 5 years of retirement can significantly affect the distribution phase of one's life, from ages 60 to 90 years. The shift might include building a cash buffer or increasing allocations to short-term bonds or stable-value funds to cover the first few years of retirement expenses. The goal is to reduce the need to sell riskier assets like stocks during a market downturn. A thoughtful glide path adjustment—beyond what a typical target-date fund offers—can help preserve capital during this critical transition period.' Target date funds can't provide the cash cushion you'll want, even as they reduce risk in their portfolios. Worse, depending on the TDF you're using, you might harm yourself on the growth end. 'They should be very safe, like the Federal Thrift Savings Plan (TSP), which is 70% in the government-guaranteed G fund,' says Ron Surz, president of Target Date Solutions in San Clemente, California. 'But this is too conservative in retirement, so you should re-risk, following the research of Kitces and Pfau.' The Federal TSP is available only to government workers. Private sector workers rarely have such an option. Some have stable value funds composed of 'guaranteed insurance contracts,' but that's not the same as the TSP fund. Others just use bond funds or keep their money in the TDF. These funds don't offer the same protection as cash. 'Bond funds are limited in providing short-term stability for near-retirees because bond prices go down when interest rates rise,' says Yehuda Tropper, CEO of Beca Life Settlements in Toms River, New Jersey. 'This can make investors lose out if they don't hold bonds to maturity — a problem for near-retirees who might need to liquidate assets when rates are rising.' When you keep all your retirement savings in a TDF upon reaching retirement, you're managing your retirement fund similarly to how many colleges manage their endowments. Rather than separating your money into goal-oriented buckets, you're keeping the whole pile together. That means when you withdraw from the fund, you're not just withdrawing from cash. 'Target date funds do adjust their allocations as they glide toward a retirement date, but when you sell a share in a target date fund, you're selling a share of the entire portfolio, not just the cash assets,' says Brian Harrison, president at SAVVI Financial in Boston. 'As a result, pre-retirees may want to shift some funds out of a target date fund for those near-term cash needs to avoid risk to their principal.' The lack of a 'cash' bucket exposes you to the sequence of returns risk that everyone is telling you to avoid. If the market dips, you'll need to dip into principle. Not a good thing. But you have a better alternative. Enter the concept of a managed 401(k) account. This differs from a self-directed account. A self-directed account allows you to invest in a wide variety of assets outside the plan through a brokerage account within the plan. A managed account may be limited to the options within the plan, but it doesn't require you to decide what to invest in. In that way, it's similar to a TDF. Unlike a TDF, the funds you invest in aren't hidden behind the curtain of an investment company. You get to see everything. And that makes it easier to assign specific assets to goal-oriented buckets. 'Plan sponsors can enhance flexibility by offering managed account solutions that provide personalized investment options and adjust allocations based on an individual's retirement timeline, risk tolerance, and income needs,' says Bavetz. 'Unlike target-date funds, managed accounts can provide tailored strategies, like building a cash buffer or planning for withdrawals. Sponsors can also include a broader range of low-volatility or income-generating investment options to support diverse needs. Giving participants more choice—paired with guidance—helps them transition more smoothly into retirement.' Vanguard reports that the use of managed accounts has more than doubled in the ten years leading up to 2023. Plan participant use of TDFs, however, dwarfs the use of managed accounts. Still, nearly half the plans offer a managed account program. As more realize the advantages of managed accounts over TDFs, it won't be surprising to see a greater number of participants using them. Do you feel 'very confident' in your retirement investment strategy? If not, you're not alone. Only 16% of those who don't use a managed account feel 'very confident,' according to research by Cerulli and Associations. In contrast, Cerulli found 47% of those using managed accounts felt very confident. This makes sense. Those in a managed account program get to see how the sausage is made. This brings them closer to the investment process used for their own retirement savings. What's more, they know they can allocate a portion of that savings to a clearly safe investment. This can give them peace of mind, knowing they can sleep at night, even if the market takes a sudden downturn. You'll need to check with your plan administrator to see if your plan offers a managed account program. If not, ask if the plan offers a money market fund or a similar option as a safe short-term investment. If this is the case, as you approach retirement, you'll need to discipline yourself to start setting aside savings to build up a cash reserve before retirement. Alternatively, you could hire a financial coach to help you stick to that discipline. In either case, one thing is certain. You don't want a target date fund to trip up your retirement.
Yahoo
08-02-2025
- Business
- Yahoo
How Retirement Income Is Taxed in Every State
Every state taxes retirement income a bit differently. More often than not, the way retirement income is taxed can impact a person's decision on where to spend retirement. Discover More: Be Aware: 3 Sneaky Things You Didn't Realize Your Tax Software Was Doing — And How to Stop Them This Year The good news is there is a healthy chunk of states that won't tax certain types of retirement income, like Social Security or pensions. GOBankingRates referenced TIME Stamped's breakdown of how every state taxes retirement income and the results reveal a surprising number of tax-friendly states across the United States. Take a look at how retirement income is taxed across America. Won't tax Social Security income Won't tax pension income Won't tax pension, but will tax 401(k)s and IRAs Doesn't tax military retirement income That's Interesting: Read Next: No state income tax No income tax Won't tax Social Security income Won't tax pension income Won't tax Thrift Savings Plan (TSP) income Won't tax 401(k) or IRA Won't tax your estate or inheritance Doesn't tax military retirement income Learn More: Won't tax Social Security income Won't tax your estate or inheritance Won't tax Social Security income Won't tax your estate or inheritance Doesn't tax military retirement income Won't tax Social Security income Won't tax your estate or inheritance Won't tax your estate or inheritance Does tax your Social Security income Doesn't tax military retirement income Explore Next: Won't tax Social Security income Won't tax your estate or inheritance No state income tax Won't tax Social Security income Won't tax pension income Won't tax Thrift Savings Plan (TSP) income Won't tax 401(k) or IRA Won't tax your estate or inheritance Doesn't tax military retirement income Won't tax Social Security income Won't tax your estate or inheritance Won't tax Social Security income Won't tax pension income Will tax 401(k)s and IRAs Doesn't tax military retirement income Won't tax Social Security income Won't tax your estate or inheritance Check Out: Won't tax Social Security income Won't tax pension income Won't tax Thrift Savings Plan (TSP) income Won't tax 401(k) or IRA Doesn't tax military retirement income Won't tax Social Security income Won't tax your estate or inheritance Won't tax Social Security income (but used to help determine filing status) Won't tax pension income (but used to help determine filing status) Won't tax your estate or inheritance Doesn't tax military retirement income Won't tax your estate or inheritance Doesn't tax military retirement income Does tax Social Security income Won't tax Social Security income Won't tax your estate or inheritance For You: Won't tax Social Security income Won't tax your estate or inheritance Doesn't tax military retirement income Won't tax Social Security income Doesn't tax military retirement income Won't tax Social Security income Won't tax your estate or inheritance Won't tax Social Security income Doesn't tax military retirement income Doesn't tax military retirement income Does tax Social Security income View Next: Doesn't tax military retirement income Does tax Social Security income Won't tax Social Security income Won't tax pension income Won't tax Thrift Savings Plan (TSP) income Won't tax 401(k) or IRA Doesn't tax military retirement income Won't tax Social Security income Won't tax your estate or inheritance Doesn't tax military retirement income Won't tax your estate or inheritance Does tax Social Security income Won't tax your estate or inheritance Does tax Social Security income See More: No state income tax Won't tax Social Security income Won't tax pension income Won't tax Thrift Savings Plan (TSP) income Won't tax 401(k) or IRA Won't tax your estate or inheritance Doesn't tax military retirement income Won't tax Social Security income Won't tax pension income Won't tax Thrift Savings Plan (TSP) income Won't tax 401(k) or IRA Won't tax pension, but will tax 401(k)s and IRAs Won't tax your estate or inheritance Doesn't tax military retirement income Won't tax Social Security income Won't tax your estate or inheritance Doesn't tax military retirement income Won't tax your estate or inheritance Does tax Social Security income Won't tax Social Security income Won't tax your estate or inheritance Doesn't tax military retirement income Trending Now: Won't tax Social Security income Won't tax your estate or inheritance Won't tax your estate or inheritance Doesn't tax military retirement income Does tax Social Security income Won't tax Social Security income Won't tax your estate or inheritance Doesn't tax military retirement income Won't tax Social Security income Won't tax your estate or inheritance Won't tax Social Security income See Next: Won't tax Social Security income Won't tax pension income Won't tax Thrift Savings Plan (TSP) income Won't tax 401(k) or IRA Won't tax your estate or inheritance Doesn't tax military retirement income Won't tax Social Security income Won't tax pension income Doesn't tax military retirement income Won't tax Social Security income Won't tax your estate or inheritance No state income tax Won't tax Social Security income Won't tax pension income Won't tax Thrift Savings Plan (TSP) income Won't tax 401(k) or IRA Won't tax your estate or inheritance Doesn't tax military retirement income No state income tax Won't tax Social Security income Won't tax pension income Won't tax Thrift Savings Plan (TSP) income Won't tax 401(k) or IRA Won't tax your estate or inheritance Doesn't tax military retirement income Discover More: No state income tax Won't tax Social Security income Won't tax pension income Won't tax Thrift Savings Plan (TSP) income Won't tax 401(k) or IRA Won't tax your estate or inheritance Doesn't tax military retirement income Won't tax your estate or inheritance Doesn't tax military retirement income Does tax Social Security income Won't tax Social Security income Won't tax pension income Doesn't tax military retirement income Won't tax Social Security income Won't tax your estate or inheritance No state income tax Won't tax Social Security income Won't tax pension income Won't tax Thrift Savings Plan (TSP) income Won't tax 401(k) or IRA Won't tax your estate or inheritance Doesn't tax military retirement income View More: Won't tax your estate or inheritance Doesn't tax military retirement income Does tax Social Security income Won't tax Social Security income Won't tax your estate or inheritance Doesn't tax military retirement income No state income tax Won't tax Social Security income Won't tax pension income Won't tax Thrift Savings Plan (TSP) income Won't tax 401(k) or IRA Won't tax your estate or inheritance Doesn't tax military retirement income More From GOBankingRates 4 Low-Risk Ways To Build Your Savings in 2025 3 Things You Must Do When Your Savings Reach $50,000 This article originally appeared on How Retirement Income Is Taxed in Every State
