Benchmark Financial Group Blog
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So you think you are ready to retire. What’s next?
Have you completed enough years of service to retire without a reduction in benefits? Have you decided that now is the right time to retire? Wondering how to get the process started? STEP ONE: PICK A DATE One of the first major decisions is deciding when to retire. However, there are a few key variables that may impact your decision. FERS...
Pieces of the Retirement Puzzle—TSP
The Thrift Savings Plan (TSP) for the final piece of the retirement puzzle. If you missed the articles for Social Security or Pensions, please see our blog posts that look at those topics and how they fit into the retirement puzzle. The TSP is a retirement savings and investment plan, established by Congress in 1986, for Federal employees and...
Pieces of the Retirement Puzzle—Pensions
In our previous article, we started discussing the pieces that make up the retirement puzzle. We began with Social Security. To learn more about how Social Security fits into the equation, you can read the article here. In this article, we will shift our focus to a different piece of retirement—pensions. FERS PENSION BENEFIT Your Federal Employee...
Pieces of the Retirement Puzzle—Social Security and Required Minimum Distributions
Social Security is one of the three primary sources of income in retirement. The benefit is based on your average 35 years of work history and weighted by the years you made the most income. You’re first eligible to start taking social security at age 62, and each year you defer your benefit the payment amount increases. If you turn on social...
Beyond Retirement Planning: What to Know About Taxes and Leaving a Legacy
A lot goes into retirement planning, and it is essential to know what other details lie beyond the planning process. Some of those items include taxes on income moving forward and properly planning details regarding the legacy for your estate. If you are a federal employee and are abou† to enter retirement, you may wonder what income taxes look...
Benchmark Financial Group, LLC
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