As a federal employee approaches retirement a very natural thing to do is to request a pension estimate from their HR. This document can be a great start in knowing what sort of income you’ll have in retirement. But unfortunately, agency estimates are not perfect or in some cases, Read more…
https://youtu.be/L4vx01Z-tNg Question At age 60 would I have to take out a TSP annuity to get the “annuity supplement”? Answer Great question. I believe the question stems from a confusion in the words we are using for the different benefits. The FERS pension that many FERS get is the Read more…
https://youtu.be/h2cQ5GwZIQw Making the most of your money often comes down to not exposing yourself to too much risk. But we have to remember that there are many types of risk in this world and being too aggressive with your investments is just one of them. For example, most Read more…
https://youtu.be/qSzbLLWZINw Knowing how much money you need to retire comfortably is often a difficult question to answer. There are a lot of opinions on the internet which can make it very difficult for the average joe to know what advice to follow. Recently I came across Dave Ramsey’s Read more…
https://youtu.be/qsCnFljfQZA Question 1: At age 57, I’ll have 34 years of service. Can I retire at 57 (my MRA), receive the FERS Supplement, and use a 1.1% multiplier or just 1%? Answer 1: No you cannot get a 1.1% multiplier if you retire before age 62. To be eligible for Read more…
Life insurance often plays a critical role in being financially prepared for the future and protecting our families. But like many of the great benefits that federal employees enjoy, there are a lot of details and nuances that few understand. And many of these details are critical to getting Read more…
https://youtu.be/PYrqI7np-oE It is often much easier to not worry much about the market when we are still far from retirement. However, as we approach retirement, it often takes much more emotional fortitude to stick to a long-term strategy when the market is volatile. But one thing that we Read more…
https://youtu.be/k7ce1qkYYFk Question 1: Thanks for all your advice on Federal retirement. You provide the best advice I’ve heard, and I am letting my colleagues know. Here is my question: What is the role of Federal Long Term Care Insurance Program (FLTCIP) in a federal retirement? How does this program compare Read more…
https://youtu.be/LjQmeadsJhg With many things in life, when it rains it pours. The same is true for federal employees retiring. Everyone wants to leave at the same time. In 2020, almost 30% of all retirement applications were received by OPM in the first 2 months of the year. Up Read more…
With more than 30% of all federal employees having some sort of military time, knowing if you should buy back your service time is more important than ever. And I have seen how this one decision can make a dramatic difference in when and how federal employees can retire. Read more…
