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

GS-12 Pay Scale: The Complete Salary Guide

GS-12 Pay Scale: The Complete Salary Guide Understanding how the General Schedule (GS) system works can make a profound difference in the long-term financial security of federal employees. If you hold a position at the GS-12 level (or aspire to it), you may already know that each General Schedule grade includes multiple “steps” and vital benefits like retirement contributions, TSP matching, health insurance, and more. At PlanWell, our professional team of ChFEBC, CFP, and AIF advisors often works with federal

Backdoor IRA: Maximize Retirement Savings for Federal Employees

Backdoor IRA: Maximize Retirement Savings for Federal Employees Imagine a retirement where your nest egg not only covers your basic needs but also provides the freedom to pursue your passions. Whether that means enjoying extended time with your grandkids or traveling to places on your bucket list, many federal employees set their hearts on a comfortable, secure retirement. Yet as your income grows—and for federal or military employees nearing retirement, that often happens—contributing directly to a Roth IRA can become

Avoid Costly RMD Penalties: Essential Rules and Deadlines Explained

Avoid Costly RMD Penalties: Essential Rules and Deadlines Explained For many federal employees and military personnel approaching retirement, the rules around Required Minimum Distributions (RMDs) can feel daunting. After all, there’s no flexibility about whether you have to take them—you either withdraw the correct amount or risk a potentially hefty RMD penalty. Understanding the most pressing RMD deadlines, how they’re calculated, and recent legislative changes (New RMD Provisions in 2023) can help you avoid expensive missteps while preserving more of

Maximize Your Agency’s TSP Match: Don’t Leave Free Money Behind

Maximize Your Agency’s TSP Match: Don’t Leave Free Money Behind For many federal employees nearing retirement, few opportunities are as valuable as making the most of the government’s Thrift Savings Plan (TSP) match. As you approach the next phase of life, every dollar of additional retirement savings becomes all the more essential. A TSP match effectively doubles a portion of your contributions—turning what you set aside into an even greater sum for your future. In other words, you could be

TSP Withdrawal Calculator: Maximize Your Retirement Income

TSP Withdrawal Calculator: Maximize Your Retirement Income For federal employees, uniformed service members, and military personnel, retirement planning is more than a simple matter of saving. There is a unique blend of pension options, government matching, tax considerations, and the Thrift Savings Plan (TSP) that together shape your retirement. In this post, we will explore how you can use a TSP withdrawal calculator to help chart a course toward long-term financial security. If you are already over the age of

Tenancy by Entirety: Protect Your Marital Property Rights

Tenancy by Entirety: Protect Your Marital Property Rights Imagine standing side by side on the front porch of your family home, knowing that no matter what happens tomorrow, both you and your spouse hold an equal share in this cherished property. For many married couples—especially federal employees who have spent years diligently serving their country—this sense of security can be achieved through a special form of property ownership known as tenancy by the entirety. This article explores the meaning of

PSHB vs FEHB: Which Health Plan Offers Better Value?

PSHB vs FEHB: Which Health Plan Offers Better Value? Introduction Whether you’re a postal employee, a retired letter carrier, or a military veteran who transitioned to a career in the U.S. Postal Service, the upcoming change from FEHB to PSHB raises many questions. Some wonder if the Postal Service’s new health benefits program will be more or less costly, or whether certain benefits will stay the same. Others are curious about the mandatory Medicare Part B enrollment for certain

2025 Federal Annuitant COLA

2025 Federal Annuitant COLA Understanding the 2025 COLA Landscape If you’re a federal employee or military retiree, you’re probably well aware that each new year often brings adjustments to your monthly benefits and pay. These adjustments, known as Cost-of-Living Adjustments (COLAs), are designed to help your income keep pace with inflation. Extra dollars in your paycheck—whether that’s your pension or Social Security—can provide welcome relief in the face of rising everyday expenses. And for 2025, there’s some noteworthy news

Tax Changes Ahead: Your Guide to 2025 Tax Brackets

Tax Changes Ahead: Your Guide to the 2025 Tax Brackets There’s a moment in every retiree’s or soon-to-be retiree’s financial journey when capturing every last dollar of value becomes a top priority. For many federal and military workers in their mid-50s or beyond, taxes can feel like a moving target. Tax codes shift, brackets change, and deductions evolve year after year. Now on the horizon are the 2025 tax brackets—adjustments set to impact the amount you pay and the financial

Military Buyback: Is It Worth It for Your FERS Pension in 2025?

Military Buyback: Is It Worth It for Your FERS Pension in 2025? Imagine standing on the cusp of retirement after years of dedication to your country—first in military uniform, then as a federal civilian. Each step you’ve taken in your career has shaped your financial future in unique ways. Perhaps you’ve heard about military buyback and wondered whether this opportunity to convert your prior military service into additional credit toward a Federal Employees Retirement System (FERS) pension is truly worth

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