The earlier you start saving for retirement, the better off you will be financially when you finally get there. Here are some tips for younger federal employees to help them build a stronger financial base for the future.
The author outlines key components of the FERS system you will need to have a successful retirement.
The author describes a retirement savings benefit outlined in the tax code that can dramatically boost one’s ability to save for retirement.
Your savings inside of the Thrift Savings Plan that you worked so hard throughout your federal career to accumulate are a large component of providing income in retirement. It is important, therefore, to make sure you make the right choices with regards to preserving these funds. The author provides some advice for federal employees on different ways to determine what constitutes good and bad advice as it relates to their savings inside of the TSP.
The Roth TSP and the Roth IRA share many similarities, however, they are not the same thing. The author describes some of the similarities and differences federal employees should be aware of as they look at how each one fits into their retirement savings plans.
The Internal Revenue Service has announced the annual contribution limits for the Thrift Savings Plan and other similar retirement/pension plan contributions for 2016, most of which are unchanged from 2015.
In the third article in his series on federal retirement, FedSmith.com author Randy Silvey addresses one of the most common questions he has received from FedSmith.com users: “Should I roll my TSP over to an IRA after leaving federal service?”
A growing percentage of federal employees are either eagerly preparing for or nervously holding off retirement. The author says that you do not want to retire too soon and risk financial ruin in your Golden Years, but you also do not want to wait until too late to retire. He explains some ways to determine the best time to retire that works for you.