Federal Retirement Benefits Center

Financial Fact Friday: Consolidate where possible

Retirement is an excellent opportunity to combine similarly taxed accounts and commit to one or two financial institutions if you have old 401(k)s, IRAs, or other accounts at different institutions. Not only does this cut down on paperwork, tax forms, and passwords, but it's far easier to manage your investment and tax picture when you can see the whole thing from a single bird's-eye view.

(Source: WFMZ)

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FACT or FICTION: A Roth IRA conversion can be a big tax win when the retirement portfolio loses value

FACT: Transferring funds from a traditional IRA or 401(k) plan into a Roth account can be beneficial over the long-term because the assets grow tax-free in a Roth account, whereas in a traditional account an investor owes the taxes at distribution time. However, you’ll pay ordinary income tax rates on the amount converted, so consumers need to weigh out the associated costs as well as factor in other strategic-based decisions.

(Source: CNBC)

For many years, Americans provided for their retirement needs through three sources: employer-sponsored pension plans, Social Security income, and savings and investments accumulated through employer plans or individual accounts – the so-called "three-legged stool." But today, that stool is shakier than it used to be. What can you do to strengthen it? Call us today!

(Source: Insurance News)

Wealth Wednesday Tip #290: Benefits of early retirement

For many people, early retirement is less about finding a beach to relax on and more about pivoting to a second career. A recent report from the Employee Benefit Research Institute indicated that 74 percent of workers plan to get a new job after they retire. In such instances, early retirement is often about turning a long-time passion into a second career. That can help adults achieve a lifelong dream, making it one of the better reasons to retire early.

(Source: Crescent News)

With inflation rising and account balances falling, financial advisors say having a plan is more important than ever — and can help “stress test” your investment strategy.

(Source: CNBC)

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Financial Fact Friday: Most retirees can’t wait to start collecting Social Security checks.

A 2020 report from the Bipartisan Policy Center found that more than 70% of Social Security beneficiaries currently claim their benefits before age 64. Nearly 35% and 40% of men and women, respectively, claimed their benefits at age 62 in 2018. We can help you make a plan for creating stable and reliable income in retirement.

(Source: Yahoo Finance)

We can help you plan for your retirement dreams.

Federal Retirement Benefits | Federal Agency Retirement The staff at Federal Agency Retirement are financial professionals committed to helping Federal Employees with retirement benefits.

FACT or FICTION: You may be able to retire sooner if you can reduce your retirement expenses.

FACT: You will have to re-evaluate your spending; we must spend money on things that are important to us. But when prices are going up and gas prices are rising and the cost of living is adjusting, we have to be willing to make the necessary changes by adjusting our lifestyle and reviewing what is actually important to us.

(Source: US News)

According to a March survey by the Nationwide Retirement Institute, about 1 in 8 Gen Xers and baby boomers have postponed or considered postponing retirement due to inflation. With an inflation rate hitting a 40-year high, coupled with a stock market that's seen a double-digit percentage drop since the start of the year, people's concerns aren't misplaced.

(Source: Insurance News)

Wealth Wednesday Tip #681: There are several benefits to working during retirement.

First, there's the money. Social Security often does a poor job of keeping up with inflation, so if you earn some cash by working, you can supplement those benefits nicely.
Furthermore, a lot of people don't manage to bring much savings with them into retirement. If your 401(k) or IRA balance isn't much to write home about, then it pays to boost your income by working.

(Source: WFMZ)