Where Will Your Federal Retirement Income Come From
The majority of federal retirees will get income from a number of sources. However, the only sources they can really depend on are ‘certified sources’ of income. What are certified sources of income? Income that you know will be there – Social Security, Federal Employee Annuities and sometimes other Personal Savings and Investments.
Some of us may receive income from an inheritance, equity in our home, life insurance, and Individual Retirement
- Also Read: 3 Major Retirement Planning Errors That Federal Employees Often Make—And How to Avoid Them
- Also Read: 3 Things Every Federal Employee Needs to Know About Divorce and How It Affects Their Retirement Plans
- Also Read: What Federal Workers Are Doing to Keep Their FEHB Coverage Affordable as Costs Continue to Climb
When you are planning for your retirement, your plans should not be based on ‘what ifs,’ like winning the lottery. We would all like to win the lottery, but the odds are pretty slim. Therefore, your plans for retirement must be based on certified sources of funds. As federal and postal employees you know that your Federal Annuity and Social Security where applicable will be there. Everything else is an add-on to enhance your comfort and security in retirement.
Whatever your financial profile, the greatest way to protect it is by always making sure that your expenses are below your income. Careful planning can help you reach this position with what you have when you make adjustments to fit your circumstances.
P. S. Always Remember to Share What You Know.
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