Do Not Make These Retirement Mistakes as a Federal Employee-Paul Haarman’s Shares his Opinions

People should never retire from their jobs on an impulse, especially federal employees. Federal employees should consider financial planning, benefit plans, paperwork, etc., before retiring. It is essential to know that your planning will be affected by the system you’re in, for example, the federal employee’s retirement system (FERS) or civil service retirement system (CSRS) Paul Haarman.


In this blog, we will share with you some common mistakes that every federal employee should avoid to enjoy a happy and secure retirement.


Paul Haarman on what mistakes you must avoid for the better and secured future economically-


Not Planning Five Years in Advance

It can be a bit difficult to imagine how your life will look five years in advance. But if you try doing it before planning your retirement, it can make a big difference. We will advise you to take advantage of the pre-retirement seminar as many as five years in advance before you commence retirement planning. If you do this, you will be able to get the maximum value out of your federal retirement benefits, retirement annuity and check out health and life insurance policies.


Not Getting Benefits Out of Thrift Savings Plan (TSP)

Smart federal employees know how to get the maximum benefits out of their tax-deferred TSP contributions and the contributions made by the government. We will advise you to make your contributions to this plan as early as possible if you are in FERS, as the plan is created to be one-third of your retirement earnings. Make sure to get professional help so you can get the maximum benefit without losing anything.


Forgetting About Accrued Leave Time –

Do not forget that you get credit for not using sick leaves as a federal employee. So, find out how much you have. Keep in mind that if you take federal disability retirement, it can have a bearing on your sick leaves. Federal employees can take annual leaves of 240 hours. According to PaulHaarman, it would be good to take a look at those leaves a year before your retirement.


Opting Out of FEHBP Coverage

Do not make the mistake of pulling out of the Federal Employees Health Benefits Program (FEHBP) just because your spouse has private insurance. The government pays around 70 percent of the premium cost. You get to save money on premiums because they are pre-tax. However, if you wish for this program’s benefits upon retirement. You should be registered in it for at least five years before retirement.



So, there you have it. For a comfortable retirement, planning is essential. You can contact professional experts or analysts to create a complete financial plan that will cover every aspect of your pre-retirement and retirement. With the help of proven methodologies and strategies for financial decisions, you will be able to secure a safe as well as comfortable future for yourself as well as your family. You can consider looking for experts and companies offering assistance online.


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