Qualifying for a Disability Retirement Under the FERS April 27, 2018 Should you have to leave your federal job early, would you be eligible? You may anticipate working for the federal government until you retire. One question is worth considering, however: what if you have to leave your federal job because of a health issue before you reach retirement age? Is a disability retirement then in [...]
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TSP Withdrawal Options Are Changing April 27, 2018 New rules could soon mean more flexibility. By 2020, federal employees with Thrift Savings Plan (TSP) accounts should have new withdrawal choices for their invested assets. New rules are scheduled to be implemented through the TSP Modernization Act, permitting TSP participants more flexibility.1 The TSP withdrawal rules have been strict for many years. Too strict, [...]
Facts About Refinancing April 27, 2018 Even with interest rates rising, you may want to explore the possibilities. In the first quarter of 2018, the refinance share of home loan applications in the U.S. fell to 40%, the lowest in ten years. Higher mortgage rates had reduced demand for refis.1 Still, the refi is not exactly dead. If you have good [...]
Smart Financial Steps After College April 27, 2018 A to-do list for the twentysomething. Did you recently graduate from college? The years after graduation are crucial not only for getting a career underway, but also for planning financial progress. Consider making these money moves before you reach thirty. Direct a bit of your pay into an emergency fund. Just a little cash per [...]
Why Life Insurance Matters for New Homeowners April 27, 2018 It addresses a significant financial risk. If you buy a home and you have no life insurance, there is a financial risk. It may not be immediately evident, but it must be acknowledged – and it should be addressed. What if you die, and your spouse or partner is left to pay off the mortgage [...]
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A Retirement Gender Gap April 27, 2018 Why a middle-class woman may end up less ready to retire than a middle-class man. What is the retirement outlook for the average fifty-something working woman? As a generalization, less sunny than that of a man in her age group. Most middle-class retirees get their income from three sources. An influential 2016 National Institute on [...]
Are Your Beneficiary Designations Up to Date? March 13, 2018 Who should inherit your IRA or 401(k)? See that they do Here’s a simple financial question: who is the beneficiary of your IRA? How about your 401(k) or annuity? You may be saying, “I’m not sure.” It is smart to periodically review your beneficiary designations. Your choices may need to change with the times. When [...]
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How Retirement Spending Changes With Time March 13, 2018 Once away from work, your cost of living may rise before it falls. New retirees sometimes worry that they are spending too much, too soon. Should they scale back? Are they at risk of outliving their money? This concern is legitimate. Many households “live it up” and spend more than they anticipate as retirement starts [...]
Catching Up on Retirement Saving March 13, 2018 If you are starting at or near 50, consider these ideas. Do you fear you are saving for retirement too late? Plan to address that anxiety with some positive financial moves. If you have little saved for retirement at age 50 (or thereabouts), there is still much you can do to generate a fund for [...]
Refrain from Tapping Your Retirement Funds March 6, 2018 Resist the temptation. Your future self will thank you. Retirement accounts are not bank accounts. Nor should they be treated as such. When retirement funds are drawn down, they impede the progress of retirement planning, even if the money is later restored. In a financial crush, a retirement account may seem like a great source [...]
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