Once you retire, many financial planners will encourage you to roll your TSP funds into a tax deferred option that they will be happy to sell you. It may be an IRA, a deferred annuity or some other type of investment. You may not know that you can roll money into your TSP from certain accounts.
Sometimes a little adds up to a lot. I recently met a CSRS employee who did not to participate in the Thrift Savings Plan in 1987 when he was eligible to start. How much in potential savings did this employee pass up?
Using a financial advisor can be a good decision. But, before you select an advisor and in your dealings with the person you have selected, here are a few tips you should know before making a financial decision that could impact your retirement and your financial security.
If you were offered the chance to leave federal service with a buyout or an early out, are you prepared to make the right decision?
Former Director of OPM Linda Springer predicted a “retirement tsunami” that never materialized. It hasn’t happened. But the reason it didn’t happen is that she did not predict the financial meltdown that occurred. Her prediction was probably accurate–her timing was just off.
A number of readers have asked about the backlog in processing retirement applications. OPM is making progress. The time it takes to process a retirement action has improved by about 15%. The agency’s goal is to get the processing time down to 45 days.
What is the Special Retirement Supplement (SRS) and why is it important for FERS employees?
Have you ever wondered what would happen to your government benefits and seniority if you found yourself out of federal employment due to a downsizing or an outsourcing decision? Well, as with so many other items dealing with our federal employment, the answer is “it depends.”
The investment decisions you make will have a significant impact on your financial future. Before you choose a financial adviser or an investment product, you should ask questions. Here are some of the questions you should ask.
With tax time approaching, it is a good time for federal retirees to review the taxability of their various sources of retirement income.