Benchmark Financial Group Blog

One of the reasons so few people adequately plan for their financial futures is due to the proliferation of several common myths. Some believe that Social Security will provide everything they need for retirement (it won’t), or that their life insurance payout will take care of their families in an emergency (they often aren’t sufficient). And...

As financial planners, we spend a lot of time talking about the three tiers of your Federal Employee Retirement System. Social Security benefits, your annuity payments, and withdrawals from your Thrift Savings Plan will provide three streams of income in retirement. But considering the average couple will spend about $275,000 on medical expenses...

When you first became a federal employee, you filled out a number of forms related to your benefits. You might have established a contribution schedule for your Thrift Savings Plan, opted for Federal Employees Group Life Insurance, and made other decisions related to your benefits. Another big decision revolved around your beneficiaries. You...

When we talk to clients about retirement planning, we find that they tend to focus on savings. Naturally, everyone is going to do that, and for good reason. They need to feel assured that withdrawals from their Thrift Savings Plans, along with annuity payments and Social Security benefits, will adequately cover living expenses in retirement. But...

Last week, we talked about income taxes in retirement. Unfortunately, some things never change! So you most likely still pay some taxes after you retire, although your tax bracket and/or the amount you pay might change somewhat. We already focused on how your pension is likely to be taxed, so this week we’re shifting gears to discuss taxes on...