David Fei, CFP®, ChFEBC℠, AIF® - PlanWell Financial Planning

Essential TSP Loan Rules for Federal Employees

Essential TSP Loan Rules for Federal Employees For many federal employees and military personnel, the Thrift Savings Plan (TSP) represents one of the most valuable tools in their retirement toolkit. However, life events and financial goals sometimes create a need to access cash before retirement. This is where TSP loans can come into play. Understanding TSP loan rules is crucial to protect both your near-term finances and your future ability to retire comfortably. Even though you’re technically borrowing from yourself,

Maximize Your Marriage Benefits: A Comprehensive Guide to Spousal IRAs

Maximize Your Marriage Benefits: A Comprehensive Guide to Spousal IRAs For many married couples approaching retirement, balancing retirement accounts for both spouses can pose some challenges—especially if one partner has spent years outside the workforce or earning significantly less income. In these situations, the Spousal IRA can be an underappreciated but powerful tool to boost household retirement readiness. This guide explores how Spousal IRAs work, highlights the rules that govern them, and shows how they can integrate smoothly with federal

Roth TSP vs Roth IRA: Best Retirement Account for 2025

Roth TSP vs Roth IRA: Best Retirement Account for 2025 Introduction to Roth Options for Federal Employees As a federal employee, it can be challenging to decide which retirement accounts best fit your long-term goals. Two popular choices—Roth Thrift Savings Plan (Roth TSP) and Roth Individual Retirement Account (Roth IRA)—offer a unique balance of after-tax contributions and tax-free withdrawals in retirement. What makes them both appealing is the potential to avoid higher taxes later on if you expect to

Master Your Federal Retirement: TSP Essentials & Growth

Master Your Federal Retirement: TSP Essentials & Growth One of the most crucial elements of a secure and confident retirement for federal employees and uniformed service members is the Thrift Savings Plan (TSP). It might seem like just another retirement account on the surface, but the TSP’s structure, low fees, and powerful matching benefits make it an exceptional opportunity. Understanding how it works and focusing on its growth can enhance your overall retirement security—especially when you coordinate it with the

Federal Mandatory Retirement Age: Key Facts for Feds

Federal Mandatory Retirement Age: Key Facts for Feds Many federal employees wonder if there is a firm “mandatory retirement age” they must abide by. The truth is, most federal workers under the Federal Employees Retirement System (FERS) do not have a mandatory retirement age at all. Still, there are important exceptions and considerations—particularly for certain specialized roles. Understanding these nuances is vital to planning a stable, confident retirement strategy. After all, every year of federal service counts, and every aspect

FEHB Retirement and Medicare Coordination: Key Insights for Federal Employees

FEHB Retirement and Medicare Coordination: Key Insights for Federal Employees Introduction For many federal employees, the myriad of health coverage rules that emerge upon retirement can be more complex than anticipated. Chances are, you have counted on your Federal Employee Health Benefits (FEHB) plan for dependable healthcare throughout your working years, but the game changes once you enter retirement and find yourself navigating Medicare at the same time. While these programs share a fundamental goal of keeping you healthy, understanding

GS PayScale 2025: Key Updates for Federal Employees

GS PayScale 2025: Key Updates for Federal Employees Whether you’ve spent decades in public service or recently transitioned from a military role, the looming changes in the GS PayScale 2025 have raised plenty of questions. For those nearing retirement, knowing how the new federal pay scale affects your salary, benefits, and ultimately your retirement income is critical. This year’s proposed 2% average salary increase may sound modest, but understanding the details—like the 1.7% bump in base pay and the 0.3%

JTWROS: Smart Estate Planning for Federal Co-Owners

JTWROS: Smart Estate Planning for Federal Co-Owners For many federal employees nearing retirement, estate planning can feel overwhelming. Between Thrift Savings Plan decisions, FEGLI beneficiary designations, and pension considerations, there’s a lot to juggle. One powerful tool that can help simplify this process is joint tenants with rights of survivorship (JTWROS). By allowing assets to transfer immediately upon the death of one co-owner, JTWROS can streamline estate planning, helping older federal employees and retirees avoid unnecessary probate delays and costs.

Convert Smart: Your Roadmap to a Successful Backdoor Roth IRA Conversion

Convert Smart: Your Roadmap to a Successful Backdoor Roth IRA Conversion Have you ever felt that the door to tax-free retirement savings was closed to you because your income surpasses the Roth IRA limits? Many federal employees face this dilemma—especially those approaching retirement. Fortunately, a handy solution, commonly called the backdoor Roth IRA conversion, can help unlock the power of Roth savings while staying within the rules. At PlanWell, we’ve spent over 30 years guiding federal and military employees toward

Federal Employees: Know Your Rights During a RIF (Reduction in Force)

Discover your rights as a federal employee during a reduction in force (RIF). Understand federal regulations that protect you in times of workforce downsizing.

Author: David Fei, CFP®, ChFEBC℠, AIF®