https://youtu.be/NdE9H1s7C7k As a federal employee you will normally have at least these sources of income: Your Pension TSP (Thrift Savings Plan) Social Security And most of the time, all three of these will be taxed on the federal level (at least to some degree) but if they are Read more…
What is your biggest expense in retirement? For many people, it is taxes! But most federal employees are shocked at what part of their incomes are taxable in retirement. Spoiler Alert: Most of it is! So What is Your Federal Retirement? Your federal retirement normally Read more…
https://youtu.be/BgpQjVMAqak Note: As of 12/2022, the laws that determined that age that RMDs start have been changed. Here is more information on that. As I speak with federal employees from around the country, there is nothing that seems to be as feared (and misunderstood) as Required Minimum Distributions (RMDs). Read more…
https://youtu.be/vCGCHYhL1B0 Question 1 Can I retire at 57 (MRA+10), Postpone my pension until 62 and still be able to get around the 10% penalty for early withdrawal from the TSP between 55-59 1/2? Answer 1 The short answer is yes. As long as you retire after the year Read more…
https://youtu.be/4T6nuseF5xM What is going to be your biggest expense in retirement? Well, if your mortgage is paid off then it is probably going to be keeping Uncle Sam happy. Aka. Taxes. And while you will almost certainly pay taxes on your FERS pension and Social Security, the biggest tax mistakes Read more…
One of the biggest mistakes I see all the time is that most retirees focus 100% on asset allocation (aka what things they are invested in) and completely ignore asset location (aka strategically putting certain investments in certain accounts). Because of this, most people end up paying way more Read more…
