Now don’t get scared after reading the title. Retirement can be and should be a great time. I hear many success stories all the time about feds who absolutely love retirement life. But, I also hear many other stories of things that really took some federal retirees by Read more…
Question One thing my Financial Advisors did to lower our retirement taxes was to convert our TSP Traditional to an IRA Roth and pay the taxes now within the next couple years. The reason was to ensure we are not in a higher income for Medicare Part B is one Read more…
Benjamin Franklin once said this now famous quote: “An ounce of prevention is worth a pound of cure”. In other words, planning ahead to prevent a problem is often way easier (and cheaper) than having to deal with it when the problem finally boils over and hits us square in Read more…
Question Can I contribute external money from an existing non-TSP IRA account to my existing Roth TSP? Answer You can transfer a traditional IRA into your traditional TSP however you can not transfer a Roth IRA into the TSP at all. The only way to transfer after-tax money into Read more…
The TSP (Thrift Savings Plan) is an incredibly convenient and effective tool in building wealth. It allows employees to take money straight from their paychecks and invest it while also getting great tax advantages. If you invest in the traditional TSP (this is where most Fed’s money is at) Read more…
Work is an incredible thing. When we enjoy our jobs, it gives us a forum to think, create, and contribute. But unfortunately, (as we all know) it can also be a major source of bureaucracy, frustration, and stress. For those that don’t enjoy their work, retirement planning comes a Read more…
Question 1 Found your podcast and have been listening to it everyday on my mail route. You have answered SO many questions. Thank you. I will be 56 and have 30 years with the PO in 2023. If I start hitting my TSP at that time will I still Read more…
Having enough money in retirement is one thing but being happy in retirement is a whole different story. And while getting your money right in retirement certainly aids in your happiness, there are certainly other things to consider as well. Here are 4 Things that can give us the best Read more…
If you are in your 50’s, under FERS, and planning to retire soon then there is something you need to know. Basically, if you meet the above criteria then you might be caught in the middle of an unlucky combination. Note: If you are a special provision FERS (ie Read more…
