Federal employees are often surprised to learn that their Social Security benefits are taxed, sometimes at a pretty high rate.
The 4% rule is a very common strategy for taking income during retirement. The author highlights some risk factors to be aware of with this strategy.
When should federal retirees under FERS take Social Security? There are many factors to consider.
While there is no “perfect” age for a federal employee to retire, there are some benefits to waiting until at least age 62.
Retiring before reaching one’s full retirement age can reduce the amount of Social Security payments in retirement.
The author says that an increase in the federal minimum wage could have an impact on Social Security and the annual COLA for federal retirees.