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Choosing the Correct Survivor Annuity

The main purpose for a survivor annuity is for married FERS employees to have the option to leave an income stream to their surviving spouse. In other words, you can leave a benefit at your death (sound familiar?). The reason for the SA is quite simple – many spouses can’t afford to lose an income of $2,000 a month

Federal Employees
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How Retirement Income is Different Than Your Paycheck

Money is just money, right? Well, not exactly when it comes to retirement income. It’s not as straightforward as you would think. There are a number of things different about retirement income compared to your regular paycheck. Many of the changes will benefit federal employees, but not all. For example, taxes are just one of the things that will be different in retirement.

Federal Employees
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A Taxable Account Makes Sense

Ask a high income earner who works in the medical field and they’ll likely say that taxes are one of their biggest financial concerns. Accounts like a Traditional IRA, 401k, 403b, deferred comp and Roth IRAs (aka “tax shelters”) give investors tax benefits for investing in them. Does that mean that a regular taxable account is bad for medical professionals?

Doctors
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Should You Invest in Roth TSP?

This is a question that takes a little analysis. The traditional TSP gives participants an immediate benefit by lowering their adjusted gross income (AGI), which means less taxes are paid today. The tax benefit for Roth TSP comes when a participant takes distributions and receives tax free income.

Federal Employees
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Should You Take a TSP Annuity?

A common question for federal employees to ask me is, "so what's this annuity option in my Thrift Savings Plan (TSP)?" There is a lot of misunderstanding around what annuity options are available through TSP, as well as confusing the TSP annuity options with your FERS annuity.

Federal Employees
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Retirement Isn't All About Income

Most people I talk to about retirement are primarily concerned with retirement income, and justifiably so, since many want to retire in the near future. I believe that we get too focused on the income aspect of retirement versus the expenses side of retirement. If you want flexibility in retirement, you first need to gain control of your expenses before worrying about your income.

Federal Employees General
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The Stealth IRA

An HSA potentially combines the tax benefits of the Roth IRA and Traditional IRA in one tax-sheltered account. You get an upfront tax deduction for all contributions to an HSA, the account grows tax-free and distributions for qualified medical expenses are tax-free.

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Have Fun With Your Savings and Spending

I’m not talking about spending wildly, in fact, quite the opposite. I am one of those weird people that gets enjoyment out of getting a good deal. I try my best to get a “good deal” on my savings and spending every year. It has almost become a game to see how much I can make on our savings, so I thought I would share some methods that we have in the past year.

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