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When it comes to planning your federal retirement, there is no such thing as a dumb question. Some may seem strange, off the way, but if you’ve got a question there is probably an answer you didn’t know about. Or one that surprises you.
The good news is that federal, postal, military and Social Security retirees in January will be getting the largest cost of living adjustment they’ve had in years. That is also the bad news!
Every time there is a federal pay raise AND a cost of living adjustment for retirees, some folks figure they can get a piece of both. While it sounds good in theory, it isn't so simple.
With 30-plus plans to choose from, many working feds and retirees go into shutdown mode and do nothing during the annual health insurance open season. This year it ends on Dec. 13. But that won’t help if you don’t shop around. Inertia is easy.
One of the big differences between government and the private sector is the field of labor relations. In industry, it is usually disgruntled workers who go out on strike.
Have your career plans changed some, a lot or completely since the COVID pandemic? Has the retirement tsunami, first predicted in the 1990s, actually started?
For somebody with a long retirement horizon ahead of them, deferring Social Security until age 70 could boost their benefit 68%. Tough call. But one worth considering very carefully.
With inflation on the rise, a growing number of feds are crunching the numbers to weigh the financial benefits of working another year or two.
Should you treat Social Security like insurance or like an investment? Your answer may affect how much money you collect.
It is possible to work for Uncle Sam long enough to get and qualify for benefits and an annuity, but still leave government earlier.
Consider the following. Delay your planned retirement by a year or two. Better yet, from a financial standpoint, hang on another three. Or more.
Ever since the late ’90s, experts — both real and self-anointed — have been predicting a retirement tsunami. A tidal wave of office farewell parties that would leave Uncle Sam light in the brains, experience…
Working slightly longer than you planned can have a big time payoff. And it’s particularly true for federal workers.
By working another two years, an employee earning $80,000 per year can boost their retirement income by almost $30,000.