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Receive a Passing Grade For Retirement

John Faith
September 24, 2014

Federal and Postal Employee Retirement Planning Report Card

Each of us should have a Retirement Planning Report Card with the expectation of doing well pretty much like when we were kids in school. If you got good grades, your parents often rewarded you with something special, sometimes even money to show the value and significance of getting good grades.

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Now we have reached another milestone in our lives where once again a report card is important. The difference is if you get a good report card by planning ahead for retirement, your reward is to live in comfort and security. Proper planning allows you to retire on your own terms and take the worry out of how you are going to survive now that your income is much lower than it was as an active employee.
Your planning report card should include estimates of your federal retirement annuity income which will resemble reality the closer you get to retirement. It should also include life expectancy to help you get an idea of how long your resources need to last. Actuary charts and estimates can help you with this endeavor. Look to include your total estimated monthly retirement income and your estimated monthly expenses. Do not forget to include your Social Security benefits and other items you think relevant to giving you the best picture possible of your retirement future.

There is quite a bit of work to do to get ready for retirement, but the sooner you get started the closer you are to reaching your retirement goals.