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Mid Career Resource Center

Just as people change throughout their lives so too do their financial planning needs. The needs of "Mid-Career" people, typically adult in the 40-55 range represents an area of particular expertise for Retirement Planning Services. Mid-Career Adults have firmly established their professional trajectory and for the first time seriously think about their financial situation—from planning to pay for college for their children, to their retirement, and to their estate.

Gerald A. Cannizzaro has been working with Mid-Career people for over 20 years.   He is very experienced in discussing and resolving the issues this age group faces now and later in their financial careers.  As an active instructor (over 15 years of instructing) in all day practical education seminars for this group he is in constant touch with their many needs, wants, and desires.

While there is a range of information on this website that offers information that they and all investors will find useful, the material selected on this page has a particular emphasis on mid-career needs.  We invite you to browse this page and see how it can help you solve your everyday and future financial planning and investment needs.  Since we are constantly updating our webpage you may want to bookmark this page for future reference.

Education Planning
  • Financial Aid for College New!
    ABCs of Financial Aid;  Positioning Your Income/Assets to Enhance Financial Aid Eligibility; Finding the Funds to Pay for a College Education; Major Federal Financial Aid Programs; Comparison of Federal Higher Education Loans; and the Financial Aid Calendar

Alternate Video One

Alternate Video One

College: Is It Worth The Price of Admission
College Net Price Calculators Saving for College
529 College Savings Plans

Introduction to
Virginia 529
College Savings Plan

For more information on Education Planning, visit the "Saving for College" and "Managing College Expenses" sections of the Life Events page.

Life Insurance and Aging
  • Life Insurance Basics
    Life Insurance Basics; Comparison of Types of Life Insurance; How Traditional Whole Life Insurance Works; How Variable Life Insurance Works; How Universal Life Insurance Works; and  How Variable Universal Life Insurance Works

  • Life Insurance Planning Worksheet
    Determine your life insurance needs with this RPS Excel worksheet

  • The 2012 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs
    This survey provides national, statewide and area specific average daily rates for private and semi-private rooms in a nursing home, monthly base rates in assisted living communities, hourly rates for home health aide and homemaker services, and daily rates for adult day services.

  • Caring for an Aging Parent
    Caring for Your Aging Parents; Tips for Caregivers; Housing Options for Aging Parents; Medicare, Medigap, and Medicaid Overview; and Common Incapacity Document

Investment and Retirement Planning for Mid-Career Professionals
  • IRAs
    Understanding IRAs; Comparison of Traditional IRAs and Roth IRAs; IRA Limits and Saver's Credit Tables; and  IRA Future Value Illustration

  • IIRA and Retirement Plan Limits for 2014
    (Forefield Consumer Alert, November 5, 2013)

  • IRA Rollover Guide
    Use this rollover guide to help you decide where you can move your retirement dollars.

  • Retirement Income: The Transition into Retirement
    Are You Ready to Retire?; Timing Is Everything; Do You Plan to Work in Retirement?; Retirement Income: The "Three-Legged Stool"; Asset Allocation; Making Portfolio Withdrawals; Investment Considerations; and Health-Care Considerations

  • Blank Inactive Portfolio Management Spreadsheet
    Determine your asset allocation with this RPS Excel worksheet

  • Joint Asset Allocation Planning Tool
    RPS Excel worksheet that provides sample Joint Asset Allocation Plan (One Federal & one Non-Federal Employee) as a template to determine your own asset allocation

  • Asset Allocation Charts - Federal Employees & Private Industry
    Sample allocations for Married Federal Employee with non-Federal spouse & FERS Pension; Click here
    Single or Two married Federal Employees & CSRS Retirement; and Private Industry various age groups with no defined pension. Click here

  • Catch-up Contribution Considerations for Federal Employees
    This RPS analysis provides an overview of IRS rule changes that allow Federal workers, aged 50 or over, to make "catch-up" contributions to their individual plans.

  • Federal Employees: Are you in the right retirement plan?
    (Commentary by Bob Braunstein, Federal Retirement Benefits Counselor, Courtesy The National Institute of Transition Planning, Inc.:

  • Annuity Income versus Stock Portfolio Income Analysis

  • Get Your Social Security Statement Online (The official website of the Social Security Administration)
    Paper statements are no longer mailed to those under 60.  Your online account provides many benefits, including:  estimates of the retirement and disability benefits you may receive;  estimates of benefits your family may get when you receive Social Security or die;  a list of your lifetime earnings according to Social Security's records.

Estate Planning
  • Basic Estate Planning
    Estate Planning--An Introduction; Steps to Estate Planning Success;  Estate Planning Pyramid; Advantages of Trusts; and Conducting a Periodic Review of Your Estate Plan

  • Estate Taxes
    Estimating Estate Tax Liability; Federal Gift and Estate Exemption Limits and Tax Rates; and Estate Tax Rate Schedules


Estate Planning Basics
Advanced Estate Planning
Special Needs Planning

4 Key Estate Planning
Documents Everyone
Should Consider


For more information on Estate Planning, visit the "Planning an Estate" section of the Life Events page.

Mortgages and Home Insurance
  • Buying a Home
    Buying a Home; Applying for a Mortgage; The Down Payment;  Popular Types of Mortgages;  Tax Benefits of Home Ownership; and Opening the Door to Homeowners Insurance

  • Qualified Personal Residence Trust (QPRT)
    A QPRT offers an excellent opportunity for homeowners with taxable estates to minimize federal gift tax and avoid federal estate tax.

  • Mortgage Payoff Calculators: contains an extensive list of useful calculators and formulas including a mortgage prepayment calculator, a lease vs. buy decision program. See also: 

  • Check Up on Your Home Insurance (Kiplinger's Personal Finance, August 2012)
    The cost of homeowners insurance is increasing; new exclusions and conditions are being added— while the housing bust and recession have pushed home prices down 35% on average.  You may be paying more for less coverage—or you may be able to lower your costs while upgrading your coverage.

  • Safe Harbor for Vacation-Home Exchanges (The Washington Post)
    IRS guidance on the use of Starker exchanges for vacation homes. Such transactions, also known as like-kind exchanges or Section 1031 exchanges, allow owners of investment property to defer capital gains tax.
For more information, visit the "Buying a Home" section of the Life Events page.

Personal and Family Finances
The Tax Benefits of Retirement Plan Participation     

Your Credit Profile: New Protections Help Consumers?

  IRS Releases List of Possible Tax Scams to Watch Out for in 2015   Data Breaches: Fighting Identity Theft with New Technologies



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