Financial Planning
for Federal Retirees.
A complete retirement financial plan goes beyond your annuity. It means knowing your pre- and post-retirement income from every source, reviewing your TSP and investment accounts, updating beneficiary designations, and protecting your estate. Start here.
Build your
retirement financial plan.
Every plan is different — shaped by your circumstances, family situation, debts, savings, and goals. You are the only one who can supply the details that make the plan real. Start by knowing your numbers.
Financial planning for federal retirement starts with a full inventory: your TSP, brokerage and mutual fund accounts, banking and savings accounts, all assets, and a clear picture of both your pre- and post-retirement expenses. The goal is to determine whether your post-retirement income — from all sources — will be sufficient to maintain the lifestyle you want.
If your analysis reveals a gap, you still have time to act: pay down or eliminate your mortgage before retirement, increase TSP contributions, adjust your planned retirement date, or reduce projected expenses. The earlier you run the numbers, the more options you have.
Financial planning doesn't stop at gathering information. Finish the process — update your will, trust, beneficiary designations, and health directives before you retire.
Calculate your retirement income from all sources
FERS or CSRS annuity + Social Security + TSP withdrawals + any other pensions, rental income, or part-time earnings. Total this against your projected post-retirement expenses. Use our free retirement cost analysis spreadsheet tailored for federal employees.
Review all accounts for beneficiary and POD designations
TSP, FEGLI life insurance, CSRS/FERS annuity, brokerage accounts, bank accounts — every account should have a current, correct designated beneficiary or Pay on Death designation. Stale designations from years ago are one of the most common and costly oversights in estate planning.
Evaluate your TSP withdrawal strategy
You have more options than most people realize: installment payments, single withdrawals, annuitization, in-service withdrawals, and rollover to an IRA. Required Minimum Distributions start at age 73. Review the TSP Considerations section for the full picture.
Address estate planning — wills, trusts, directives
A complete plan includes a will, a living trust if appropriate, a health care directive (living will), and a durable power of attorney. These documents protect your family and ensure your wishes are carried out if you become incapacitated or die.
Consider whether to hire a financial advisor
Professionals can be valuable — especially for complex situations involving disabled dependents, significant investment portfolios, or intricate estate planning needs. When interviewing advisors, verify credentials and understand how they are compensated (fee-only vs. commission) before engaging.
Are you emotionally, financially, and physically prepared?
Retirement readiness isn't only financial. The transition out of federal service involves emotional adjustment (loss of identity, structure, and purpose), physical changes (more or less activity, healthcare needs), and financial recalibration (fixed income, tax status changes). Our estate planning guide covers all three dimensions.
See: Are you emotionally prepared? | Are you financially prepared? | Are you physically prepared?
Every financial topic
covered here.
Select any topic below for detailed guidance — from TSP withdrawal strategies to probate avoidance, estate planning documents, and FDIC coverage for your savings accounts.
Retirement Cost Analysis
Calculate your pre- and post-retirement income vs. expenses. Includes a free downloadable spreadsheet tailored for federal employees with examples and instructions.
TSP Considerations
Withdrawal options, fund choices, RMDs, Roth TSP conversions, rebalancing strategies, and what happens to your TSP when you die. Critical decisions before and after retirement.
Probate Avoidance
Asset allocation strategies, beneficiary and POD designations, joint tenancy, and gift tax rules — tools to transfer your estate to heirs without going through probate court.
Estate Planning
Wills, revocable living trusts, living wills, health care directives, durable power of attorney, and survivor planning. A complete A-to-Z estate planning guide with forms.
FDIC Insurance Coverage
FDIC coverage limits by account type and ownership category. Understand how much of your bank and credit union deposits are protected — and how to structure accounts to maximize coverage.
Hiring a Financial Advisor
How to find a qualified financial advisor, what credentials matter (CFP, CPA, RIA), fee-only vs. commission structures, and when professional advice is genuinely worth it.
Further reading
& planning guides.
In-depth articles on retirement economics, savings strategies, TSP management, and protecting what you've accumulated over a career.