Page 105 - The Informed Fed--Hearn Wealth Management
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1) Take full advantage of the government-matched funds to your
TSP contributions.
2) Open a Roth IRA (if you qualify) and maximize your
contributions to it: for 2020 $6,000 per year up to age 50, and
$7,000 for those 50 and older. This earns tax-free interest and
the benefits are substantial.
3) Roll over your TSP funds as quickly as possible--age 59½ or
separation from federal service, whichever comes first.
1) Do a life insurance analysis.
2) Determine the amount of insurance needed, if any.
3) Carry only as much insurance as you need, and only for as long
as you need it.
4) Make certain you qualify for new insurance before canceling any
existing insurance.
5) ; insurance rates can vary. We can compare
numerous companies for the best rates.
6) Participate in investment or savings programs that create
adequate and accessible funds to reduce or eliminate the need for
insurance altogether.
1) Grow your TSP through the matching funds and take advantage
of guaranteed interest rates.
2) Open a Roth IRA with a guaranteed rate of interest and
maximize your annual contribution.
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