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  • When is the Right Time to Retire?

    • March 15, 2019
    • Financial Professional, Retirement
    • By : Galen D. Bargerstock, President of Government & Civil Employee Services, LLC

    One of the questions I hear on a daily basis! Simply put the best time to retire is when you have reached your minimum retirement age and you’re satisfied with the income stream you will be receiving from your Pension, Social Security, and TSP and any other sources of income in retirement. Every family has different spending habits and different monthly bills so you really have to sit down with a financial professional that can help make sure you are looking at everything involved. It is very important to have a clear understanding of what income will be coming in monthly and what you have in your savings should you have any unforeseen expenses or emergencies. If your expected monthly income is enough and you have enough money in your savings to not worry about money then the time is probably right! The point of working all your life is to eventually get to a point where you don’t have to worry about money.  Typically, everyone I work with is worried about retirement, or they think they don’t have enough money, and honestly sometimes they are right, but sometimes my clients are pleasantly surprised to find out they can retire sooner than they had expected and, in some instances, they will even make more money in retirement than they are while they are working right now.

    When should you contact GCES?

    Five minutes ago, would have been good, but right now will work too. At GCES we specialize in Federal and State Employee Retirement and Benefits. We can help you understand everything that you get for being a federal employee and help you through the entire retirement process.  Whether you’re just starting your career with the United States Government or have been there for 10, 20, or 30 plus years. If you are just beginning or a seasoned employee, we have the conversation about if you elected the correct benefits to fit your current lifestyle and retirement goals. If you didn’t because you didn’t understand them or things have changed in your life, you can change them and the sooner you do it the better the results will be, so calling sooner rather than later is the way to go. Making sure you are on the right path to retirement is important and you don’t want to wait until a year before you retire to make sure you are doing everything you need to be doing.

    However, if you want to retire and you are just finding out about us don’t worry, we still may be able to help. Before you make any final decisions give us a call. We can help make sure your retirement process is smooth, that you know when you will be getting paid and how much to expect. Retiring from FERS or CSRS is intricate and there are multiple things that need to happen to make it the entire way through. Like filling out your “blue book” to retire- we even help you do that. If you know you want to retire call us so matter how far away it is.