For most federal employees, retirement has always seemed like a far-away concept and not a top priority. But as retirement starts to loom, it usually causes an abrupt change in priorities. This change typically occurs five to ten years beforeContinue reading “8 Things Federal Employees Should Do 5 Years From Retirement￼”
There are many financial mistakes that federal employees can make throughout their life but one of the most common that I see, and ironically one of the easiest to avoid, is naming and updating beneficiary designations. Yes, this sounds simple,Continue reading “The Common And Costly Estate Planning Mistake Federal Employees Make”
Every federal employee knows that the FERS pension is a great benefit, but many are unaware of the several ways they can be eligible to receive that pension. For instance, federal employees can retire under the immediate, postponed, or deferredContinue reading “Understanding the FERS Deferred Retirement”
When planning your federal retirement, you’ll need to calculate your FERS pension and should request an estimate from your HR. But often, these projections don’t represent what will actually be deposited into your bank account. The reason for this discrepancyContinue reading “How Much Of Your FERS Pension Will You Keep?”
In last week’s article, we reviewed the benefits of making a military service deposit or “buy back” and when it could make sense to do so. We saw that although every situation is different, for most buying back military timeContinue reading “What Military Service Can Be Bought Back?”
If you’re a veteran, then you have likely heard the phrase “buying back your military time” on more than one occasion. But what exactly does that mean, and why is it important? In this article, we’ll discuss the answers toContinue reading “Should You Buy Back Your Military Time?”
An important part of establishing your retirement plan is choosing the best age to retire. While the average retirement age for federal employees is 62 (61.8 according to OPM), there is no magic age that works for everyone. Hence, itContinue reading “3 Reasons Why Federal Employees Retire At 57”
When you retire, you’ll have the option of providing a survivor annuity for your beneficiaries (aka the Survivor Benefit). This benefit allows your spouse or someone with an insurable interest (depends on you financially) to receive a portion of yourContinue reading “Should Federal Employees Elect A Survivor Benefit?”
When you separate from federal service, you will have an important decision: should you leave your money in the Thrift Savings Plan or transfer it out (presumably to an IRA)? The bad news is there is no right answer forContinue reading “What To Consider Before Transferring Your TSP To An IRA”
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