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.
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.
The author offers ten questions you need to keep in mind for your financial situation as you near retirement from your federal career.
The Thrift Savings Plan is an important component of your retirement plan, but it’s up to you to utilize it to its full potential. The author offers some benefits and challenges of the TSP as well as some investment approaches to consider.
One thing that is not included in the FEHB plans is long term care insurance. The author offers considerations when exploring available options for covering a long term care event/illness as well as coverage options available to you.
You finally got your wish and are being offered a financial incentive to retire early! Before you take it and run, you should logically think it through to determine if it makes sense looking at the Big Picture.
There are a number of factors that need to be taken into consideration when identifying your savings options for retirement. Cost is not the only consideration, but an important one since fees can seriously erode your earnings.
The author says that economic stimulation in the United States cannot last forever and eventually we will have to go through some suffering to make things right. She says federal employees may see more changes coming to their retirement benefits and should have a realistic plan before making the decision to leave government service.
Choosing the right Social Security election can significantly impact the amount of benefits you receive over your lifetime.
With an increased concern over tax rates, there is compelling need to protect what may be for many individuals their largest single asset: their retirement plans. The author outlines critical decisions that she says must be made before January 1, 2013 as they relate to tax implications in planning for retirement.