Financial Planning for Federal Employees & Retirees
Make Your Federal Benefits Part of a Complete Retirement Strategy
Federal Retirement Questions We Can Help You Evaluate
FERS & CSRS | TSP | Social Security | Retirement Income
Federal employees have retirement benefits that can provide an important foundation for retirement—but understanding how FERS or CSRS, the Thrift Savings Plan (TSP), Social Security, investments, taxes and healthcare work together can be complicated.
Sophos Financial helps federal employees and retirees understand their options and develop a coordinated financial and retirement strategy.
Based in Clarksville, Maryland and serving Columbia, Howard County, the Washington, D.C. region and beyond, we work with federal employees approaching retirement as well as those already retired from federal service.
Federal Retirement Planning Is More Than Your Pension
For many federal employees, retirement income may come from several different sources. The important question isn't simply how much each benefit provides—it is how those benefits work together over the course of retirement.
We can help you evaluate decisions involving:
• FERS and CSRS retirement benefits
• Thrift Savings Plan (TSP) investment and distribution decisions
• Traditional and Roth TSP assets
• Social Security claiming strategies
• FERS retirement supplement considerations
• Retirement income and portfolio withdrawals
• IRA and retirement-plan rollover options
• Roth IRA conversion strategies
• Investment and portfolio management
• Tax-aware retirement income strategies
• FEHB and Medicare considerations
• Required Minimum Distributions (RMDs)
• Survivor and beneficiary planning
• Estate planning strategies and wealth preservation
Approaching Federal Retirement?
The years immediately before and after retirement can involve some of the most important financial decisions you will make.
Questions we frequently help federal employees evaluate include:
When can I realistically afford to retire?
Your eligibility date and the date at which retirement makes financial sense are not necessarily the same. We can evaluate your anticipated pension, TSP and other investments, Social Security, expenses and retirement goals together.
What should I do with my TSP after retirement?
Leaving assets in the TSP, taking distributions, or considering a rollover can each have advantages and disadvantages. The appropriate decision depends on your individual circumstances, investment needs, costs, withdrawal strategy and long-term financial plan.
When should I claim Social Security?
For FERS employees, Social Security can become an important component of retirement income. Claiming decisions should be considered together with your pension, investments, other household income and expected retirement needs.
Should I consider Roth conversions?
The period between retirement and Required Minimum Distributions may create planning opportunities for some retirees. We can help evaluate how potential Roth conversions fit within your broader retirement and investment strategy.
How should I generate income from my investments after I retire?
Moving from accumulating assets to drawing income from them is a major transition. We help develop investment and withdrawal strategies designed around your income needs, time horizon, risk tolerance and other sources of retirement income.
Already Retired From Federal Service?
Retirement planning doesn't end on your retirement date.
As your circumstances change, your investment strategy, withdrawal needs, tax situation, Social Security benefits, Medicare decisions, RMDs and estate planning considerations may change as well.
Sophos Financial works with retired federal employees to help coordinate these different pieces into an ongoing financial and wealth management strategy.
Bringing Your Entire Financial Picture Together
Federal benefits are only one part of your financial life.
Our approach considers your FERS or CSRS pension, TSP, Social Security, IRAs, investment accounts, spouse's assets and benefits, retirement income needs, taxes, estate planning considerations and long-term financial goals together.
The objective is not simply to make one retirement decision. It is to develop a strategy in which the different parts of your financial life work together.
Work With a Financial Advisor Who Understands Federal Retirement
Sophos Financial is a financial planning and wealth management practice led by Michael Balakirsky, MBA, Financial Advisor with LPL Financial.
We serve federal employees and retirees throughout Maryland, Washington, D.C., and Virginia, including clients in Columbia, Clarksville, Ellicott City, Fulton, Highland and throughout Howard County.
If you are approaching federal retirement, recently retired, or simply want a second opinion on your current retirement and investment strategy, we invite you to start a conversation.
Preparing for Federal Retirement?
Schedule a no-obligation consultation with Sophos Financial to discuss your FERS, CSRS, TSP, investments and overall retirement strategy.