Guidelines to Help You Prepare for Your Retirement ‘Graduation’
Are you on the cusp of retirement? These are some tips to keep in mind as you plan this next phase of your life.
Carol Schmidlin
Avoid Mistakes When Changing Your TSP Election
Changing your TSP contribution election to add the Roth option can be a little tricky. If done wrong, this could cause a FERS participant to lose out on thousands of dollars. The author explains by way of a real life example how this can happen and how to avoid making the mistake yourself.
Spring Cleaning for Your Financial Portfolio
Spring Cleaning is basically just trimming away the excess, updating, and even evolving. It’s a great idea to do this with many areas of your life, including your retirement portfolio. The authors outline three simple steps you can take to put your spring cleaning plan for your retirement savings into action.
March Madness and Taxes
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.
8 Threats for Retirement Accounts Under President Obama’s 2016 Proposed Budget
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.
Turn Your Taxable Portfolio Into A Tax-Free Retirement Account
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.
The Thrift Savings Plan of the Future
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.
IRAs Celebrate 40th Birthday
IRAs are turning 40. The author provides some of the history and benefits of the IRA.
Pay Taxes on the Seed, Not the Harvest
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.
What We Know So Far About Phased Retirement
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.
