Can You Convert Your Traditional TSP To The Roth?

As a federal employee, there are some major advantages to contributing to the TSP, such as having the choice of making pre-tax (Traditional TSP) or/and post-tax contributions (Roth TSP). Being able to select how you want your contributions treated for income tax purposes is a powerful tax planning tool, but what if you decide toContinue reading “Can You Convert Your Traditional TSP To The Roth?”

8 Things Federal Employees Should Do 5 Years Before Retirement

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 before retirement, and for good reason. This period is critical for federal employees since specific enrollmentContinue reading “8 Things Federal Employees Should Do 5 Years Before Retirement”

The Common And Costly Estate Planning Mistake Federal Employees Make

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, but you may not realize how many beneficiary designations you have. And since it’s easyContinue reading “The Common And Costly Estate Planning Mistake Federal Employees Make”

3 Reasons Why Federal Employees Retire At 57

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, it could make sense for some to retire earlier or later, and the right age willContinue reading “3 Reasons Why Federal Employees Retire At 57”

What To Consider Before Transferring Your TSP To An IRA

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 for everyone, and it depends on your preferences and situation. But the good news is thatContinue reading “What To Consider Before Transferring Your TSP To An IRA”

Withdrawing From Your TSP Early

Although many federal employees believe that they must wait until age 59 ½ before taking penalty-free withdrawals from their TSP, that isn’t the case. In fact, there are a few different ways that federal employees can take withdrawals before 59 ½ and avoid the 10 percent penalty usually applied to early distributions. In this article,Continue reading “Withdrawing From Your TSP Early”

Understanding Your TSP’s Investment Options

Among the many benefits of working in the Federal government is the Thrift Savings Plan (TSP). The TSP boasts fifteen broad-based investment options, including five individual funds (C, S, I, F, and G) and ten lifecycle funds. Although there is plenty of information available on the TSP’s funds, many Federal employees don’t understand the fundContinue reading “Understanding Your TSP’s Investment Options”

4 Ways Your Federal LEO Retirement Benefits Are Different

For the most part, all Federal employees enjoy the same robust benefits, such as the Thrift Savings Plan (TSP), various insurance programs, and of course, the FERS pension. However, special category employees, namely law enforcement officers (LEOs), are eligible for enhanced retirement benefits and are governed by different retirement rules. Because these enhanced benefits andContinue reading “4 Ways Your Federal LEO Retirement Benefits Are Different”

5 Things You Should Know About Withdrawing From Your TSP

Whether you are nearing retirement or still building up your nest egg, it’s important that you take the time to understand some of the complexities that are involved with taking TSP withdrawals. Understanding these complexities will help ensure you are not missing critical elements in the multistep retirement planning process. Read on to learn theContinue reading “5 Things You Should Know About Withdrawing From Your TSP”