Retirement Planning

When should you retire?

The decision to retire is a big one and one you should consider carefully. The last thing an employee wants to do is retire and miscalculate their income and have to go back to work in retirement!

In order to determine when you should retire you must consider several important factors.

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Factors to consider before you retire

  1. Are you eligible? Have you met the age and years of service requirement?

  2. What will your expenses be in retirement and is your retirement income sufficient to maintain your standard of living?

  3. Have you factored in the increased cost of health insurance in retirement?

  4. Should you elect a survivor benefit and if so how much?

  5. How do you make sure your spouse has health insurance in retirement in the event of your premature death?

  6. Have you considered the new credit FERS employees receive for unused sick leave?

  7. Do you understand your Social Security benefits and the implications of starting benefits at age 62 versus 66 and older?

  8. Have you considered buying Military time?

  9. Do you know what role your TSP will play in your retirement? How long will your money last and should you leave the money in the TSP? Is the TSP the best place to leave your hard earned money?

In addition to the above issues there are countless other areas that are unique to each employee that must be considered as well. We encourage all Federal & Postal employees to use us as a resource and contact us to set up a Free Benefits Review.

*While many reviews can take place over the phone, there are some issues that require a face to face appointment. We do our very best to accommodate each and every employee.

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American Federal Benefits Consultants is an independent organization not a government agency or affiliated with the federal government or any state government. *The terms CSRS, FERS, FEGLI, and FEHB are all registered trademarks of the U. S. Office of Personnel Management. American Federal Benefits Consultants, agents, consultants, or any independent contractors does not provide tax, legal, or investment advice and does not engage in the solicitation or sale of securities.

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1–800 MEDICARE to get information on all of your options.