Planning for Retirement: Federal Employees

November 10, 2015

federal employeesFederal employees thinking about retiring before 2020 need to get planning.  Now.

My clients frequently ask about preparing for their retirement.  I’m all about planning.  Getting prepared for what might be ahead is a wise way to go.

As Benjamin Franklin told us, “If you fail to plan, you are planning to fail!”

Federal employees are being advised to plan for their retirement years in advance.  OPM’s Associate Director of Retirement Services says preparing for retirement one year out is starting too late.

“If I were to retire a year from now, I’m behind the power curve,” Ken Zawodny said.  “I should have been looking at my records four, five, six years ago, ensuring that there’s no missing service in there, that my [human resources office] has all of the information that they need to have.”

Those considering retirement need to start now reviewing the information in their employment records to ensure all is correct and they should considering their options for other benefits, TSP, and insurance.

This article outlines what federal workers need should do now to avoid unintended consequences that can come with failing to have enough time to plan.

Comments Off on Planning for Retirement: Federal Employees

How Livable is Your Community to Those 50+?

April 21, 2015

If you are thinking about where you want to live in retirement or how to make your community more friendly to an aging population, the AARP has created an online tool for you. The goal of the AARP Livability Index is to identify the most livable places.  It is based on interviews with 4,500 Americas… Read more »

Comments Off on How Livable is Your Community to Those 50+?

Retired and Considering Remarrying? Consider how Social Security benefits will change

September 23, 2014

For three in four single retirees more than half of their income comes from Social Security. A divorced retiree who was married for at least a decade is entitled to spousal Social Security benefits, the same as if they were still married. The benefits are available even if the ex-spouse remarries. That eligibility ends when… Read more »

Comments Off on Retired and Considering Remarrying? Consider how Social Security benefits will change

Do I Have Enough to Retire?

May 30, 2014

Clients frequently ask me this question.  My response is generally that my licenses are to practice law in Virginia, Maryland, and the District of Columbia, not give financial advice.  I encourage them to seek professional guidance as they work through developing an answer to their question. What about those online calculators?  Search for “retirement calculator”… Read more »

Leave a comment

Senior Citizens Handbook: Answers, Information, & Resources in Virginia

March 9, 2014

For senior citizens, their loved ones, and caregivers, many, many questions can arise. Finding answers can seem overwhelming and very time consuming. In Virginia, there is an information rich 112-page book that covers all aspects of senior living. For more than three decades the Virginia State Bar has published the Senior Citizens Handbook: Laws &… Read more »

Leave a comment

Resources for the Aging and Elderly

November 22, 2013

  During my tenure as a Congressional staff member, I was pleased to serve as the Director of Communications on the U. S. Senate Special Committee On Aging for U.S. Senator John Heinz, Ranking Member. The Aging Committee focuses on issues related to older Americans. Senator Heinz concentrated much of his efforts on fraud that… Read more »

Leave a comment