Archive for the ‘Thrift Savings Plan’ Category

What is a Thrift Savings Plan?

Monday, August 5th, 2013

A thrift savings plan (TSP) – which was first created by the Federal Employee’s Retirement System Act of 1986 - is a defined, tax-deferred retirement savings plan for Federal employees, members of the armed forces, and all employees covered under the older Civil Service Retirement System (CSRS). A TSP is one of the three components that comprise the Federal Retirement System (FERS).

  1. Thrift Savings Plan
  2. FERS Annuity
  3. Social Security

A TSP – which is administered by the Federal Retirement Thrift Investment Board – is designed to closely resemble the dynamics of the 401 (k) retirement plans offered by most private sector companies. Contributions to the plan are automatically deducted from each paycheck. By participating in the TSP, Federal employees to…

  1. Save part of their income for retirement
  2. Receive matching agency contributions
  3. Reduce their current taxes

In the event of your death, if you have not already withdrawn funds, payments would be made to your survivors as follows:

  1. Widow or widower.
  2. Child or children
  3. Descendants of deceased children by representation.
  4. Retiree’s parents or to the surviving parent.
  5. The executor or administrator of the retiree’s estate.
  6. To any other of the retiree’s next of kin who is entitled under the laws of the state in which the retiree resided at death.

Or, if you prefer a different payment succession, you can fill our a designation form.

If you have any questions about what you have just read, or if you would like to know more about Thrift Savings Plans and retirement planning, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources:

Thrift Savings Plan

Thrift Savings Plan – TSP

Thrift Savings Plan (TSP)

Benefits of Professional Financial Planning : Retirement Planning

Wednesday, May 23rd, 2012

The primary goal of a professional financial planner is to help you maintain a comfortable lifestyle while still putting away enough money for the future. What is even more impressive is that financial planners are able to consolidate all aspects of your financial life into one coordinated plan. So, unlike stockbrokers, bankers, insurance agents, or accountants, your financial planner helps make your life less complicated…not more complicated.

Additional Benefits of Financial Planning

  • Assistance With Managing Your Finances: Let’s face it; you just do not have the time to breathe, let alone properly manage your own finances. This is where a professional financial advisor can help!
  • Confirm Your Objectives are Being Met: How are all of your investments working out? You have several specialists – stock brokers, loan officers, bankers, etc. – telling you how each piece of your financial puzzle is doing, but what about the bigger picture? How is each investment working as a part of the whole financial plan? A financial planner is certainly not intended to replace any of your existing advisors, but what he/she can do is evaluate your total financial situation and coordinate strategies which do not interfere with any of your stated goals and objectives.
  • Monitoring the Implementation: Your stated goals and objectives can never be met without putting the financial plan into action. A financial planner will ensure that all phases of your plan are not only implemented, but also monitored to ensure they are working out.
  • Frequent Plan Review to Remain on Schedule: Your financial plan should be reviewed on a continuing basis. A financial advisor will frequently meet with you to review your current financial plan and, if need be, reevaluate your financial goals.
  • Provides You with Peace of Mind: Sit back and relax, knowing you and your future are in good hands.

 

Most people, at some point in their lives, will need financial advice. When the time comes for you to reach out to a professional financial advisor, whom should you trust? How can you be sure that the financial advisor you choose has your best interests in mind? How do you know that your money is in good hands?

The Answer: Trust Safe Retirement Solutions!

For more information about Professional Financial Planning, or for professional financial advice, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

Safe Retirement Solutions’ financial advisers help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources:

Why Consider Financial Planning?