by Chris Kowalik of ProFeds
When you’re planning for retirement, you want to make certain that your money lasts as long as possible (preferably as long as you do!). What’s one of the things that can derail an otherwise great retirement plan? Taxes.
Taxes can potentially wreak havoc on your retirement since you have to pay for them somehow—and if you’re not accounting for them, you may be forced to use your hard-earning savings. I refer to taxes as the “carbon monoxide” that can kill an otherwise really good financial plan. It can sneak up on you quickly and without a lot of warning.
Many federal employees are confused when it comes to how their taxes will change in retirement. Here are a few common myths that you should know and avoid.
TRAINING AVAILABLE FOR FEDERAL EMPLOYEES:
Live Workshop Training: Check out the workshop schedule to attend a live FedImpact workshop near you! Use the SF-182 to request paid time off to attend the training. Don’t see a workshop nearby? Add your name to the list to be notified when new locations and dates are announced!
Online Training: Consider our online version, FedImpact: Federal Retirement Training On Demand. This is a self-paced, online program designed for employees in locations where we don’t currently hold live training.
Chris Kowalik is a federal retirement expert and frequent speaker to federal employee groups nationwide. In her highly-acclaimed Federal Retirement Impact Workshops, she empowers employees to make confident decisions as they plan for the days when they no longer have to work.
As the developer of dozens of highly-regarded retirement planning materials for federal employees and the creator of the FedImpact Podcast, Chris has also analyzed the challenging retirement scenarios for thousands of federal employees – helping them to avoid costly mistakes, and highlighting opportunities for them to gain greater financial security in their retirement years.
Chris’ candid and straightforward nature allows employees to get the answers they need, and to understand the impact these decisions have on their retirement. After all, if what you thought was true wasn’t, when would you like to know?