dailyfed

12/20/2024

3 Common Mistakes Made By Pre-Retirees

Pre-retirees often make these common mistakes that put them at risk of outliving their retirement savings.

Learn more: https://dailyfed.com/2024/12/3-common-mistakes-made-by-pre-retirees/

Though it’s true you may no longer be spending money on certain things once you’ve retired from your federal career, you can’t afford to underestimate any financial aspect of your retirement. Yet, more often than

12/19/2024

Estate Planning Misconceptions & Realities

A well-designed estate plan protects your heirs from probate court and helps ensure your wishes are honored.

Learn more: https://dailyfed.com/2024/12/estate-planning-misconceptions-realities/

One of the most common misconceptions about estate planning is that it’s only about protecting assets like your cars, boats, and valuables like jewelry, antiques, and collectibles. Though the value of these assets can add

12/18/2024

How Schedule F Could Impact Federal Employees

There is speculation that Schedule F will be reinstated which could profoundly impact federal employees.

Learn More: https://dailyfed.com/2024/12/how-schedule-f-could-impact-federal-employees/

Executive Order 13957, also known as Schedule F,  was advanced in October 2020 with an implementation date of January 2021. The plan, aimed at changing how certain federal employees are classified and hired, was revoked

12/17/2024

Social Security Fairness Act

The Social Security Fairness Act aims to remove two provisions that reduce the Social Security benefits of roughly 2.8 million retirees.

Learn more: https://dailyfed.com/2024/12/social-security-fairness-act/

On November 19th, the U.S. House of Representatives passed the Social Security Fairness Act. The goal of this legislation is to remove two provisions that reduce the Social Security benefits of roughly 2.8 million retirees

12/16/2024

Required Minimum Distributions Explained

The contributions you make to your TSP have not been subject to federal income income tax, but eventually, Uncle Sam comes calling.

Learn more: https://dailyfed.com/2024/12/required-minimum-distributions-explained/

When you put money into your TSP or other tax-advantaged retirement accounts, the contributions you make have not been subject to income tax by the federal government. Eventually, Uncle Sam comes calling and requires you

12/15/2024

Can Any American Become A Millionaire?

You don’t need generational wealth or an Ivy League degree to become a millionaire; you just need to stick to some basic principles.

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12/14/2024

Salvaging the Future of Social Security

With trust fund reserves projected to run out by 2035, various proposals have been made to address long-term challenges facing Social Security.

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12/13/2024

Working Longer Can Protect Your Financial Security In Retirement

Will you have enough money to live comfortably if your retirement runs 10 years longer than you planned?

Learn more: https://dailyfed.com/2024/12/working-longer-can-protect-your-financial-security-in-retirement/

According to the Social Security Administration, one in four people turning age 65 today will live to 90. Ask yourself this: will you have enough money to live comfortably if your retirement runs 10 years

12/12/2024

New Year’s Resolutions For Pre-Retirees

Make 2025 the year that you get proactive about becoming financially prepared for your FERS retirement.

Learn more: https://dailyfed.com/2024/12/new-years-resolutions-for-pre-retirees/

Make 2025 the year that you get proactive about becoming financially prepared for your FERS retirement. Here are a few resolutions to help get you started. If You Don’t Have An Emergency Fund, Start One

12/11/2024

The Two Biggest Threats To Your Retirement

The two biggest threats to your retirement are underestimating your longevity and miscalculating expenses 30 years into the future.

Learn more: https://dailyfed.com/2024/12/the-two-biggest-threats-to-your-retirement/

You may be surprised to learn that the two biggest threats to your retirement are underestimating your longevity and miscalculating expenses 30 years into the future. It’s easy to see that these risks go hand

12/10/2024

Roth Conversions and the Rise of TSP Millionaires

The Thrift Savings Plan continues to evolve, introducing new features while driving substantial growth for its participants.

Learn more: https://dailyfed.com/2024/12/roth-conversions-and-the-rise-of-tsp-millionaires/

The Thrift Savings Plan continues to evolve, introducing new features while driving substantial growth for its participants. A groundbreaking option for Roth conversions will become available in 2026, giving federal employees and military personnel new

12/09/2024

Retirement Planning for Federal Employees is Unique

Federal retirement benefits are arguably the best in the nation, but planning your retirement can get complicated.

Learn more: https://dailyfed.com/2024/12/retirement-planning-for-federal-employees-is-unique/

Although there are many reasons people launch a career with the federal government, near the top of the list is your retirement benefits. On one hand, your retirement benefits are arguably the best in the nation.

12/08/2024

End-of-Year Tax Strategy

The year is quickly drawing to a close, so it’s important to take a moment and review your tax strategy to keep more money in your pocket.

Learn more: https://dailyfed.com/

12/07/2024

Finding Balance in Your Balance

It’s no doubt reassuring to log in to your checking account and find a healthy balance, but how much is too much?

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12/06/2024

Important Decisions For Your Retirement Application

When you apply for retirement, you'll make several decisions that can affect you and your spouse after you separate from service.

Learn more: https://dailyfed.com/2024/12/important-decisions-for-your-retirement-application/

As a federal employee, when you apply for retirement, there are a number of decisions you need to make that can affect you and your spouse after you separate from service. From deciding on a

12/05/2024

Understanding Accrued Annual Leave

With strategic planning, you can accrue a good amount of annual leave to build a sizable lump sum payment when you retire.

Learn more: https://dailyfed.com/2024/12/understanding-accrued-annual-leave/

Before you retire, it’s important to understand how annual leave is accrued and how much you can carry over each year. As a federal employee, you have the right to use your annual leave for

12/04/2024

HELOCs – Powerful Tool or Risky Gamble

As inflation and rising costs continue to plague consumers, home equity lines of credit (HELOCs) have surged in popularity.

Learn more: https://dailyfed.com/2024/12/helocs-powerful-tool-or-risky-gamble/

As inflation and rising costs continue to plague consumers, home equity lines of credit (HELOCs) have surged in popularity, with balances reaching $387 billion between mid-2023 and 2024. Many homeowners see them as an affordable

12/03/2024

OPM Extends Its Hold For New FLTCIP Applicants

In 2022 the OPM suspended new applications to the Federal Long-Term Care Insurance Program, this hold on new applications has been extended another 24 months.

Learn more: https://dailyfed.com/2024/12/opm-extends-its-hold-for-new-fltcip-applicants/

-TermCare