Carol Schmidlin

Carol Schmidlin is the President of Franklin Planning and has been advising clients on how to grow and preserve their wealth for 20 years. In addition to her financial planning practice, she is the founder of FedSavvy® Educational Solutions, which provides Financial and Retirement Literacy Programs for Federal Employees. Contact Carol at (856) 401-1101 or visit FranklinPlanning.com.

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Carol Schmidlin's Latest Posts

March Madness and Taxes

Filed in News by on March 18, 2015 Comments

March Madness is here! Yes, there’s the NCAA tournament, but the author reminds readers that it’s also tax season and provides some general tips to keep in mind as April 15th approaches.

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8 Threats for Retirement Accounts Under President Obama’s 2016 Proposed Budget

Filed in News by on March 9, 2015 Comments

While supporters of President Obama’s 2016 Fiscal Budget say the budget will make it easier to save for retirement, the proposal is giving mixed messages when it comes to retirement planning. The author highlights eight budget provisions that would have a negative impact on many retirement accounts.

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Turn Your Taxable Portfolio Into A Tax-Free Retirement Account

Filed in News by on February 16, 2015 Comments

Long-time federal workers under CSRS have a unique opportunity for tax-free retirement income. The author describes how CSRS federal employees can contribute to the little-known Voluntary Contribution Program to overcome some of the major contribution limitations with IRAs.

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The Thrift Savings Plan of the Future

Filed in News by on December 18, 2014 Comments

The author says that the Thrift Savings Plan board members are recognizing that plan participants want more flexibility in making withdrawals in retirement. She says this is a step in the right direction and will likely lead to positive changes for the TSP in the future.

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IRAs Celebrate 40th Birthday

Filed in News by on December 15, 2014 Comments

January 1, 2015 marks the 40th anniversary of Individual Retirement Accounts (IRAs) in the United States. The author provides some of the history and benefits of the IRA.

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Pay Taxes on the Seed, Not the Harvest

Filed in News by on October 13, 2014 Comments

One advantage federal employees have when saving for retirement is the Roth TSP. A Roth investment allows you to pay tax on the seed (the smaller, starting investment) and reap the bounties (the investment plus growth/interest) tax-free. The author explains more about how this works.

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What We Know So Far About Phased Retirement

Filed in News by on September 15, 2014 Comments

Phased Retirement may finally be a reality for eligible federal employees desiring to phase into retirement, however, some agencies have said they will not allow employees to submit applications until 2015. The author offers considerations and practical examples for federal employees who may be considering utilizing the new phased retirement option.

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10 Questions You Need Answers To

Filed in News by on June 17, 2014 Comments

The author offers ten questions you need to keep in mind for your financial situation as you near retirement from your federal career.

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