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May 16, 2024
Federal Employee Retirement and Benefits News
Without missing a beat, I said most emphatically “It certainly does.” It is more intense because financial advisors and planners need to know more about the Federal Retirement Systems than the federal workforce.
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Many individuals do their own retirement planning; while others seek the advice and counsel of a professional to set them on a path to retiring well.
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One of the key traits federal employees need to understand is how compound interest works and the importance of making your money grow faster.
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It is a personal decision to decide when to retire but there are some age-based considerations that will help to guide federal and postal employees when planning and making retirement decisions.
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~~HOW TO RETIRE HAPPY The first step to making sure you are happy in retirement is to understand that YOU MATTER. Many of us subconsciously define ourselves by our jobs and job titles. When those things no longer exist, we may begin to wonder about the significance of our lives and our future. It is
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Good Health is Wealth In a previous post we were challenged to a Retirement Readiness Quiz. One of the questions asked, “Are you taking care of your health”. That question is one of the most important aspects of your plan to Retire Well. Obviously you should be taking advantage of your FEHB and Flexible Spending Account
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Your Retirement Planning Report Card, however, is far more important than if you got an ‘A’ in your Social Studies class. This Report Card will truly impact the rest of your life.
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Sources of Income for Federal and Postal Retirees The majority of retirees will get income from a number of sources. However, the only sources they can really depend on are –certified – sources of income. What are certified sources of income? Income that you know will be there – Social Security, Employee Pension Plans and other
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If you took a retirement readiness quiz how ready do you think you would be? If you find that you have already completed a task, then you are a STAR.
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Develop a Savings Strategy that really is a strategy for saving and leverage for you to retire well.
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Federal and Postal Retirees Well you just retired a few weeks back and your final pay check has just arrived along with your annual leave check. You were smart and ran a benefit analysis long ago. You know how much you have, how much your TSP.gov account can generate and when the best time to
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There are a lot of things we want to take into retirement with us, but one thing we want to leave behind is HEAVY DEBT
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The decisions we make to actualize our retirement desires require flexibility both in thought and action.
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~~HOW DO I GET STARTED WITH A PLAN? By now you are probably asking – How do I get started setting goals that are SMART and putting a plan into action? You get started by first simply writing down what you desire your retirement picture to reflect. Write down your goals, evaluate and analyze them
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Building your individual action plan starts with building your Financial Plan for retiring well.
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Your plan is an achievable and trackable, weekly or monthly financial goal. Set the Goal – pay down your debts (those with the highest interest rates first), put money aside for a rainy day and then save for retirement (every little bit helps).
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Your Federal and Postal Retirement Plan – Will It Work How do you know if your retirement plan is a good one and if it will work? Think about the strategies below: • Your overarching goals for retirement are outlined (stay flexible). • You have clearly written down all of your financial goals for retirement • Are
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You, the CEO Organizations have many layers of responsibility. However, the organization’s failures or successes rest in the hands of the Chief Executive Officer, the CEO. The BUCK stops with YOU, because you are the CEO of the Business of Your Life. You have to take charge by prioritizing the steps necessary to ensure the
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What is a financial plan? It is a thought process of what is important to you and what is required for your life in order to make your dreams a reality.
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Retirement Goals The importance of constructing a PLAN for moving into retirement with comfort and security cannot be overstated. You should have a laundry list of goals as you ready yourself to retire well. Constructing a plan, managing your TSP account, making sure you’ve run a Benefit Analysis BEFORE retirement is also incredibly impactful on the
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