So you've set yourself a goal. You have a salary you want to work towards. Maybe you aimed high and you are working towards a six figure salary. Maybe it's something a little less. But you get a raise at work, you get a new job, and you find yourself finally in that position you've been working towards. Now what do you do? I know that what you might want to do is go buy a new car, splurge on something big, but before you go do that, let's … [Read more...]
Changing TSP Contributions
TSP, the Thrift Savings Plan, is a retirement investment program offered to federal employees and members of the United States military including members of the Ready Reserve. TSP is what financial planners describe as a defined-contribution plan. Some feel the features of TSP resemble a private-sector 401(k) retirement plan. Employees may be eligible for employer contributions, and many of the plan's investment options allow you to diversify … [Read more...]
When Should You Start Retirement Planning?
Retirement is alternately appealing and terrifying. The idea of finally being done with work is incredibly appealing. But the idea of actually planning for it can be very overwhelming. There is so much advice out there, and it's hard to know what it all means. I think what scares me the most is those calculators and websites that say "You need to have X amount saved for retirement." They all give different numbers. Some tell me I need a … [Read more...]
The Benefits of Downsizing After Your Retirement
As you move into your retirement, you may be looking for a simpler and slower pace for your life. You are finally able to take the time for the things that are really important to you and live a lifestyle that is completely of your own choosing. One of the major steps you can take after retiring is downsizing your home. In years past, your home may have been a great fit for you and and your family. As you move into retirement you are likely … [Read more...]
It’s Time For Gen X To Plot A Retirement Blueprint
As Generation X prepares for the final stages of retirement planning, it’s important to revisit their financial plans. Those born between 1965 and 1980 experienced the explosion of personal computers, so it’s no coincidence that technology plays a big part in planning for a secure future. People in this generation aren’t ready to slow down yet, but as the oldest reach the threshold for a ten-year window to retirement, it’s a good time to check … [Read more...]