June 22, 2021 / by joe carreno
If you withdraw early from a 401(k), an individual retirement account (IRA) or any other tax-advantaged retirement plan before you reach 59 ½, it might end up costing you significant financial penalization. Those repercussions may be worthwhile in certain cases,...
May 28, 2021 / by leslie "kathy" hollingsworth
When it comes to retirement security, there aren’t too many better ways to achieve it than with the Thrift Savings Plan (TSP). The TSP relieves headaches and helps families all over the country every single year. However, there’s a notable...
May 27, 2021 / by joe carreno
Look at any online guide, and it will tell you to wait as long as you can before starting to claim Social Security. It will say to claim at your full retirement age or, if possible, even later at 70....
May 25, 2021 / by todd carmack
Nobody expected the year that we all experienced in 2020 - the pandemic caused store closures, reduced hours for workers, and other changes for Americans. Consequently, this has led to lots of questions regarding IRA contributions and earnings. For example,...
May 24, 2021 / by leslie "kathy" hollingsworth
Retiring early isn’t as easy as it sounds. While it gives you time to do the things you enjoy doing instead of being limited by a 9-to-5 schedule, it also exposes you to more financial risks as your savings may...
May 23, 2021 / by joe carreno
As an investor, you may have done a risk tolerance assessment when determining how to allocate the assets in your portfolio. Typically, you have to fill a risk tolerance questionnaire (RTQ) to help decide whether you are an aggressive, conservative,...
May 4, 2021 / by leslie "kathy" hollingsworth
There are a lot of misconceptions about retirement. Here are the three most common ones every federal employee should know. 1. Cost of Living and Leisure Spending Will be Lower in RetirementEveryone plans to be debt-free before retirement. We all hope...
April 30, 2021 / by leslie "kathy" hollingsworth
An individual may qualify for disability retirement if he or she is so disabled or injured that they cannot provide "useful and efficient service" at their current pay level. The disability can be physical or mental. Also, if your disability is...
April 29, 2021 / by joe carreno
Unfortunately, not many FERS workers who are eligible for the Special Provisions clause know much about the provisions and the rules. As a result, many have ended up receiving less than the amount they are entitled to. FERS employees in the...
April 13, 2021 / by leslie "kathy" hollingsworth
Many prospective retirees have been clamoring for information about Special Retirement Supplements or SRS. The supplemental benefit is one of the many strong suits of FERS. Just like every other aspect of retirement, it is crucial to know everything about...
March 22, 2021 / by joe carreno
Retiring, just like every other thing, needs to be well-timed. The time you choose to retire might make a considerable difference in annuities, and we will prove that in this article. To show you just how much proper timing matters,...
March 21, 2021 / by todd carmack
During their working years, first responders pay more into the retirement system than most other federal workers. However, if injured and forced to change roles, they not only lose the right to retire at age 57 but also lose access...
March 18, 2021 / by leslie "kathy" hollingsworth
Retiring on any of these days provides a golden opportunity for federal workers. The dates are: January 30 (was a suitable date) February 27 (was a suitable date) July 31 December 31The last date is quite popular amongst retirees, being...
March 17, 2021 / by joe carreno
Everyone looks forward to retirement as the time to relax and kick back. Everyone would retire, but the relaxation part can only become a reality for retirees with significant financial backing. That is why government-backed schemes are available. The big...
March 13, 2021 / by marvin dutton
Many reasons can cause a federal worker to leave government employment before they are eligible to do so. For those interested in taking this step, five years of service or more can aid the decision without the worker having to...
March 12, 2021 / by leslie "kathy" hollingsworth
Most workers in their early fifties start thinking about throwing in the towel, as they should after many years of service to their country. The fact is that some people are not ready for retirement even when they reach their...
March 7, 2021 / by todd carmack
2020 was devastating, not just for individuals but local businesses and the economy as a whole. As the New Year progresses, personal finance will be a top priority for many Americans who may have to rethink their retirement planning due...
February 26, 2021 / by todd carmack
For many retirees, Social Security remains an integral part of their retirement income. But the Social Security fund is running low, and a report released estimates that there may only be enough funds to pay 79 percent of Social Security...
