4334 NW Expressway
We have helped Federal and State Employees Organize, Strategize and Increase their Benefits for many years. Many federal and state employees may have both a defined contribution plan, such as a TSP, 457 or 403(b), or a federal or state pension. Having these retirement benefits may require financial planning from not only how retirement and non-retirement accounts are managed and invested, but also how to anticipate: 1) how much income will actually be needed? how will inflation affect you? 2) how much will be taxable in retirement? 3) what will be your total income amount from all sources? 4) what happens if you have to go into a long-term care facility or need care at home? 5) what about pension strategies or life insurance needs to replace income and so many more questions to answer?.
As an active federal or state employee, don’t let the complexity of your benefits package prevent you from fully benefiting from the options you’ve earned. It may be a good idea to prepare a financial plan to see how all your assets coordinate and properly align. It may help you make progress towards your financial goals and strategize today to help you feel more confident that you are ready to retire tomorrow.
JOHN AND MARY Age 59 and 58
Occupation: Tinker AFB Engineer
Current Net Worth: $525,000
John is ready to retire and is not sure if he is ready financially. He has worked for Tinker AFB for 39 years. His wife is a homemaker and has not worked in thirty years. They have three children. Two are stable financially and working. The youngest one is disabled.
Should they pay off their home and credit cards before retirement?
Will they have enough income from their CSRS Pension and TSP and Brokerage Accounts?
Should they buy additional insurance or take the joint and survivorship pension benefits for his wife?
What can they do to care for their disabled son?
How should they invest in the TSP before retirement?
Advance Financial Lighthouse can develop a plan to help John and Mary have more clarity and feel more confident in their financial decisions. Our resources, guidance and support allow us to help them:
*These are fictional characters and hypothetical scenarios. Please note that individual situations can vary and some strategies may not be suitable for all investors. Therefore, the information presented here should only be relied upon when coordinated with individual professional advice.