In this video, I discuss how FERS federal employees can quickly estimate how much they’ll need in their TSP to retire. If you’re interested in learning more about the 4 percent rule, read this article. Additionally, if you’re planning for retirement, this is a must-read article on what to do with your TSP.
Author Archives: Jose Armenta, MsBA, CFP®, ChFC®, EA
Benefits For New Federal Employees: 4 Tips
Joining the federal workforce is an exciting milestone for many individuals seeking meaningful and rewarding careers. Whether you’re a recent graduate, a career changer, or an experienced professional, working for the federal government offers an array of benefits. While most new Feds get guidance on enrolling in FEHB and will automatically contribute to the FERSContinue reading “Benefits For New Federal Employees: 4 Tips”
Should Federal Employees Enroll In Medicare?
As a financial planner for federal employees, you can imagine that I get to help answer many retirement questions. But one of the most frequent questions I get from Feds approaching retirement is whether to enroll in Medicare. This makes sense; since Medicare offers various coverage options, making the question of whether there is anyContinue reading “Should Federal Employees Enroll In Medicare?”
When Should Federal Employees Claim Social Security
Social Security benefits are a crucial component of retirement planning for federal employees. However, deciding when to claim these benefits is not always straightforward since there are several factors to consider, such as your financial situation, health status, and retirement goals. While some Feds may choose to claim Social Security benefits as early as ageContinue reading “When Should Federal Employees Claim Social Security”
What Should Federal Employees Do With Their TSP At Retirement?
As federal employees prepare to retire, they face a critical decision; what should they do with their TSP? This challenge can typically be addressed by answering the following questions: should you transfer your TSP to an IRA? And how should you invest your TSP in retirement? While these questions are by no means easy toContinue reading “What Should Federal Employees Do With Their TSP At Retirement?”
4 Risks Federal Employees Face In Retirement
As federal employees enter retirement, they cross into foreign territory littered with risks. These risks often fall into four categories, longevity, spending shocks, inflation, and market risk. For most federal employees, saving for retirement was the easy part, and figuring out how to manage these risks when approaching or entering retirement will be much moreContinue reading “4 Risks Federal Employees Face In Retirement”
When Can Federal Employees Contribute To A Roth IRA?
Roths are a powerful federal retirement planning tool! Whether it be your Roth TSP or a Roth IRA, these accounts provide tax-free income in retirement, the opportunity to limit the taxation of your Social Security benefits, and no Required Minimum Distributions, to name a few of the perks. But not every federal employee is eligibleContinue reading “When Can Federal Employees Contribute To A Roth IRA?”
How Federal Employees Can Manage Their TSP In Retirement: The 4 Percent Rule
You’ve worked hard for years, and now it’s time to ride into the sunset, but as retirement nears, you’re faced with the frightening challenge of turning your TSP into a monthly paycheck. Sure, you have your FERS pension and Social Security (or the FERS Supplement), and while these benefits will keep you from ever becomingContinue reading “How Federal Employees Can Manage Their TSP In Retirement: The 4 Percent Rule”
Top 2022 Articles For Federal Employees
I think every federal employee can agree that 2022 was an eventful year. This past year was full of noteworthy events, from huge TSP changes and wild market ups and downs to the approval of the largest COLA in decades. As we reflect on the year, I’ve compiled the top five most-read articles of 2022.Continue reading “Top 2022 Articles For Federal Employees”
8 Ways Federal Employees Can Improve Their Finances In The New Year
Given the wild year of market ups and downs paired with inflation we haven’t seen in decades, it’s no wonder many federal employees are eager to improve their finances in the new year. While everyone’s financial situation is different, there are several critical areas that every federal employee should review to improve their finances inContinue reading “8 Ways Federal Employees Can Improve Their Finances In The New Year”