Is It Hard to Retire From Your Government Work?

Retiring from government work is a big decision that must be given considerable thought and attention. Failure to make the best retirement decision may affect your financial and emotional stability after your retirement. If you work with the government for a longer time, you will have more annuity when you retire. You will also have more social security benefits if you delay claiming your benefits for some time. If you are using the FERS, you need to understand how the system works to maximize your future retirement income and solve the problem of indecisiveness about retirement.

If you want to retire soon, you need to consider your years of service under both civilian and military service, your insurance, and your Social Security status. You should also find out if you are eligible to receive more medical benefits from the disability pension.

It would help if you fully understood the various Medicare parts and the FEHB. If you know how Medicare works, you can easily estimate the amount you will need to maintain your health and cover your medical expenses when you retire.

You are eligible for Medicare part A and part B once you are medically insured. In 2022, the standard premium for Medicare part B is $170.10. But suppose you have a higher gross income. In that case, you will pay for the premium and the Income Related Monthly Adjustment Amount, which is the extra charge on Medicare part B premium.

If you are under the FEHB plan, it would be best to contact the plan provider about your Medicare enrollment to ensure that you make the right retirement decision. It would help if you also informed Medicare of any changes in your drug or health coverage.

Contact Information:
Email: [email protected]
Phone: 3604642979

Bio:
After entering the financial services industry in 1994, it was a desire to guide people towards their financial independence that drove Aaron to start Steele Capital Management in 2013. Armed with an extensive background in financial planning and commercial banking coupled with a sincere passion for helping people, Aaron has the expertise and affinity for serving the unique needs of those in transition. Clients benefit from his objective financial solutions and education aligned solely with
helping them pursue the most comfortable financial life possible.

Born in Olympia, Washington, Aaron spent much of his childhood in Denver, Colorado. An area outside of Phoenix, Arizona, known as the East Valley, occupies a special place in Aaron’s heart. It is where he graduated from Arizona State University with a Bachelor of Science degree in Business Administration, started a family, and advanced his professional career.

Having now returned to his hometown of Olympia, and with the days of coaching his sons football and baseball teams behind him, he now has time to pursue his civic passions. Aaron is proud to serve on the Board of Regents Leadership for Thurston County as the Secretary and Treasurer for the Morningside area. His past affiliations include the West Olympia Rotary and has served on various committees for organizations throughout his community.

Aaron and his beautiful wife, Holly, a Registered Nurse, consider their greatest accomplishment having raised Thomas and Tate, their two intelligent and motivated sons. Their oldest son Tate is following in his father’s entrepreneurial footsteps and currently attends the Carson College of Business at Washington State University. Their beloved youngest son, Thomas, is a student at Olympia High School.

Focused on helping veterans and their families navigate the maze of long-term care solutions, Aaron specializes in customized strategies to avoid the financial crisis that care related expenses can create. Experience has shown him that many seniors are not prepared for the economic transition that takes place as they reach an advanced age.

With support from the American Academy of Benefit Planners – an organization with expertise and resources on the intricacies of government benefits – he helps clients close the gap between the cost of care and their income while protecting their assets from depletion.

Aaron can help you and your family to create, preserve and protect your legacy.

That’s making a difference.

Disclosure:
Investment advisory services are offered through BWM Advisory, LLC (BWM). BWM is registered as an Investment Advisor located in Scottsdale, Arizona, and only conducts business in states where it is properly licensed, notice has been filed, or is excluded from notice filing requirements. This information is not a complete analysis of the topic(s) discussed, is general in nature, and is not personalized investment advice. Nothing in this article is intended to be investment advice. There are risks involved with investing which may include (but are not limited to) market fluctuations and possible loss of principal value. Carefully consider the risks and possible consequences involved prior to making any investment decision. You should consult a professional tax or investment advisor regarding tax and investment implications before taking any investment actions or implementing any investment strategies.