-
4 days ago | 
fedsmith.com | Dallen Haws
As a federal employee, one of the most important financial decisions you will make is how to allocate your Thrift Savings Plan (TSP) investments. With so many options and strategies available, it’s natural to wonder: What is the best TSP allocation? While I’d love to provide a one-size-fits-all answer, the truth is that the best allocation depends on your individual goals, risk tolerance, and retirement timeline.
-
1 week ago | 
fedweek.com | Dallen Haws
For most federal employees, Social Security is a significant part of retirement planning, but it isn’t always as straightforward as it might seem. While the basic principles of Social Security are the same for both federal and private-sector workers, there are some key differences and special considerations for federal employees.
-
2 weeks ago | 
fedsmith.com | Dallen Haws
FEGLI (Federal Employee Group Life Insurance) is one of the largest group term life insurance programs in the world, offering coverage to millions of federal employees. While FEGLI has numerous advantages, it is not always the most cost-effective option as you age. Understanding when to opt in and when to opt out can help you maximize your benefits while minimizing unnecessary costs.
-
3 weeks ago | 
fedsmith.com | Dallen Haws
Social Security benefits provide an important source of income for many Americans in retirement, and most federal employees are no exception. However, while most federal employees’ Social Security benefits are calculated in the same way as those for private-sector workers, there are some unique nuances to consider. This article will walk you through the essential steps to calculate your Social Security benefit and highlight specific factors that federal employees should keep in mind.
-
3 weeks ago | 
fedweek.com | Dallen Haws
When it comes to your FERS pension, understanding the key factors that impact your retirement benefit is crucial for making the most of your federal career. If you’ve spent years building your career in public service, you want to make sure your retirement years are financially secure. In this guide, we’ll break down the major elements that determine your FERS pension so you can plan accordingly and avoid any unpleasant surprises when it’s time to retire. 1.
-
1 month ago | 
fedsmith.com | Dallen Haws
Federal employees, listen up. If you’ve been in the game for a while, you might have noticed a troubling trend: as a group, federal employees often receive terrible financial advice. Whether it’s from financial planners, coworkers, or even those teaching retirement trainings at agencies, the guidance you get is often off the mark. Today, we’re going to unpack why this happens and, more importantly, how you can protect yourself from falling into the same trap.
-
1 month ago | 
fedweek.com | Dallen Haws
Planning for retirement as a federal employee can be a complex process, especially when considering the nuances of the Federal Employees Retirement System (FERS). Two critical components of your retirement planning include the FERS Supplement and the High-3 Average Salary calculation. Both of these elements significantly impact your retirement income, and staying ahead of potential changes is essential for securing a stable financial future.
-
1 month ago | 
fedsmith.com | Dallen Haws
Retirement is one of the most significant milestones in your federal career. As a federal employee, strategically timing your retirement date can help you make the most of your hard-earned benefits—your pension, annual leave, sick leave, and more. But many federal employees overlook key details that can cost them money or delay benefits. Let’s walk through how you can time your retirement the smart way to ensure you start this next chapter of life on the right foot.
-
1 month ago | 
fedsmith.com | Dallen Haws
If you’ve spent any time online, you’ve probably seen one of those viral clips where a cyclist is about to win a race. They’re meters from the finish line, throw their hands up in celebration, and bam—they trip, fall, or get passed at the last second. Why? Because they got comfortable. They assumed the hard part was over. That’s the last thing I want for any federal employee nearing retirement. Unfortunately, it happens far too often.
-
1 month ago | 
fedsmith.com | Dallen Haws
One of the most critical yet often overlooked decisions in retirement planning is the order in which you withdraw funds from your Thrift Savings Plan (TSP). The topic we will be covering will go over withdrawal strategies if you have both traditional and Roth TSP money. The strategy you choose can have a massive impact on how long your savings last and how much you ultimately pay in taxes.
