Are You Ready For Retirement?

Are you ready to retire? How would you make that assessment? Especially in the case of federal and public employees, there are a wide variety of factors to consider. If you need help making a retirement-ready assessment, it may be a good idea to contact a federal retirement consultant California. There’s so much at stake and you certainly don’t want to make a choice that will leave you with less financial flexibility going forward.

Important Steps To Take Into Consideration

When you are beginning to assess your retirement readiness, there are a few basic topics to think through:

  • Assess Your Financial Risk Tolerance, Especially Determining if You Have Sufficient Risk-Mitigation in Place
  • Take Stock of Your Current Assets, Both in Personal and Tax-Advantaged Accounts
  • Review Your Asset Allocation and Determine if You Are Comfortable with it.
  • Know What To Expect From Social Security and Pensions
  • Estimate Your Future Health-Care and Long-Term Care Costs
  • Totally Review Your Current and Expected Tax Situation

Work With A Professional Knowledgeable About The Public Service Sector

For those working for the government or in the public sector, there are some specific details to become tuned into. Here are just a few focus questions that you may have to consider before you retire:

  • Have You Reviewed Your FERS/CSRS Annuity Payout Estimate in the Last 12 Months?
  • Do you Understand the Proposed White House Changes to Your Retirement Benefits?
  • Have You Reviewed Your FERS/CSRS Annuity Payout estimate?
  • Is Your Official Personnel Folder (OPF) Up to Date?

Getting ready for retirement can be complicated and at times bewildering. Many people would like some help with at least several of the above-mentioned considerations. It is almost always a good idea to consult with a knowledgeable professional, especially one who has been in the business for several decades or more. They will help you navigate through the pre-retirement planning maze.