As you plan for retirement, you will be approached by financial advisors who want to help you manage your money. Any experienced and skilled financial advisor understands financial markets, has plenty of general knowledge about retirement, and probably boasts a long list of happy and successful clients. Most people can choose from several such financial advisors in their area, and will often report high levels of satisfaction with their results.
But as a federal employee, you face unique challenges to your retirement plan. While some general facts about retirement are true for everyone, most of a federal worker’s structured retirement plan differs significantly from private sector workers. Working with just any financial advisor could backfire, because most do not specialize in the unique benefits structure offered to federal employees. Without a Fed Focused Advisor (FFA) you could overlook important opportunities and undermine your outcome.
By contrast, a Fed Focused Advisor can:
● Help you prepare for tax liability issues.
● Assist in making appropriate allocations to fit your individual needs.
● Direct funds to pursue proper diversification within the desired allocations, based on your risk tolerance as well as your income and growth needs.
● Help you manage your money with a long-term vision to elude short term “panic” moves. (Panic is often detrimental to long term goals)
● Efficiently design an income distribution plan to provide the best (most tax friendly) income strategy
Working with a Fed Focused Advisor who understands the complexities of the federal retirement system can help you reap the most benefit from your retirement plan. And yet, you might discover that you can’t find a FFA near your home. Does this mean you should settle for a general financial advisor?
Actually, no. Even if you have to work with a FFA who is located in another state, remember that licensing from organizations such as FINRA and SIPC apply on a national level. Even if you can’t meet with your financial advisor in person, and must conduct phone or Skype appointments instead, they are still bound by the same standards of conduct as financial advisors in your area. The difference is that a Fed Focused Advisor has intimate knowledge of the federal employee retirement system, and is therefore able to guide you toward the most beneficial retirement plan for your situation.
For more information on federal retirement plans and benefits, call our office to schedule an appointment. We are happy to work with federal employees anywhere in the country.
15166 – 2015/12/10
