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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”

End-of-Year Tax Planning For Federal Employees: Part 4 Avoiding The Wash Sale

After a year of wild stock market swings and declines, most federal employees have investment accounts that are sitting in the red, and while it’s difficult to watch your account value drop, many find a silver lining in the form of tax savings. The tax strategy many federal employees utilize is tax loss harvesting, anContinue reading “End-of-Year Tax Planning For Federal Employees: Part 4 Avoiding The Wash Sale”

End of Year Tax Planning For Federal Employees: Part 3 Tax Loss Harvesting

Most federal employees don’t think about their taxes until April 15th is around the corner, however, thinking about taxes long before it’s time to file gives you the opportunity to do some tax planning that can potentially reduce your tax bill. That being said, the end of the year is a great time to useContinue reading “End of Year Tax Planning For Federal Employees: Part 3 Tax Loss Harvesting”

Mid-Year Tax Tips For Federal Employees: Part 2

For part two of our mid-year tax planning series, we’re going to review one of the most reliable tactics for reducing taxes: which is bunching. This strategy is the process of accelerating deductible expenses, such as real estate taxes, charitable contributions, etc., into a given year so that you can itemize your deductions. This strategyContinue reading “Mid-Year Tax Tips For Federal Employees: Part 2”

Mid-Year Tax Tips For Federal Employees: Part 1

It’s hard to believe that half the year has gone by already, and while summertime is perfect for going on family trips and sunbathing, it’s also a great time for some mid-year tax planning. Yes, I know, taxes, everyone’s favorite topic. Although you may not enjoy reading through your 1040 or your 1099s, you willContinue reading “Mid-Year Tax Tips For Federal Employees: Part 1”

Withdrawing From Your TSP Early: Part 2 Age 55 And 50

While the TSP is great at providing tax benefits and allowing federal employees to save for retirement efficiently, it has several restrictions that limit how and when savings can be accessed. In fact, most federal employees are aware of the age restriction that imposes a penalty on TSP withdrawals before age 59 ½; however, manyContinue reading “Withdrawing From Your TSP Early: Part 2 Age 55 And 50”

Variable Annuities: What Federal Employees Need To Know

Federal employees often ask me if annuities are good or bad? And my response is that they’re neither good nor bad—because they’re just tools that work well to meet specific goals and do not work well to meet others. Thus, the only way to know whether an annuity may be a solution for you isContinue reading “Variable Annuities: What Federal Employees Need To Know”

The Big Mistake To Avoid When Transferring Your TSP

Most federal employees saving for retirement have heard the terms “IRA transfer” and “rollover,” which refer to how you move your money from the TSP to an IRA. And while both terms are often used synonymously, they’re not identical and have significant differences that you must be aware of to avoid making a big mistake.Continue reading “The Big Mistake To Avoid When Transferring Your TSP”