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?”
Category Archives: Federal Benefits
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”
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”
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”
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”
What Federal Employees Need To Know About Working In Retirement
Many federal employees plan to work at least part-time in retirement. Some make this decision for the extra income, a desire to stay active, maintain a sense of purpose, or some combination thereof. Whatever your reason might be, it’s essential that you’re aware of how working in retirement can affect your other income. While continuingContinue reading “What Federal Employees Need To Know About Working In Retirement”
The New 2022 TSP Changes
For over a year, we have been hearing that the Federal Retirement Thrift Investment Board (FRTIB) has been working on upgrading the TSP platform. Well, the promised updates are nearly here! In fact, the platform is currently transitioning. By next week, federal employees will have more ways to access their accounts, communicate with the TSPContinue reading “The New 2022 TSP Changes”
Diversification: Reducing The Risk In Your TSP
Every federal employee has heard the saying, “Don’t put all your eggs in one basket.” If you understand this concept, you understand one of the most fundamental principles of sound investing, diversification. Given the recent stock market turbulence, I thought it would be good to review this essential principle. So, this week we’re going toContinue reading “Diversification: Reducing The Risk In Your TSP”
Are Your TSP Investments Right For You?
Do you lose sleep every time the financial markets decline, or do you view a market correction as an opportunity to invest at a more reasonable price? How you answer this question reveals a lot about whether your TSP investments are suitable for your risk profile. Creating a TSP portfolio that accurately reflects your riskContinue reading “Are Your TSP Investments Right For You?”
Why Federal Employees Must Prepare For Spending Shocks In Retirement
Federal retirees face numerous risks in their golden years. These risks often fall into three categories: market risk, longevity risk, and spending shocks. This week we’re covering spending shocks, meaning large unanticipated expenses in retirement, the most common of which are rising health care costs, changes in-home needs, and inflation. While it is nearly impossibleContinue reading “Why Federal Employees Must Prepare For Spending Shocks In Retirement”