Are you a government worker making retirement plans? To prevent sabotaging your retirement plans, there are a few things you need to remember.
Be honest with yourself about when you plan to retire. In order to make up for a lesser pension if you want to retire early, you’ll need to have larger retirement savings. Take advantage of catch-up contributions in your 50s since having greater retirement funds is always preferable.
Don’t forget about Social Security, either. If you apply for Social Security benefits before to reaching full retirement age, your payments will be permanently reduced. Create a strategy for using this resource in conjunction with your pension and retirement funds.
Lastly, plan how you will use your annual and sick days. You may optimize your sick leave and raise your pension for life by wisely utilising your yearly leave.
By heeding these recommendations, you may prevent jeopardizing your federal retirement.