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How to Pass Your Federal Employee Probationary Period
Congratulations on landing a job in the Federal government! While your new position is cause of celebration, it’s no time to rest easy, as the government typically imposes a mandatory probationary period for new employees between the time they are hired, and when the position is offered on a permanent basis. The purpose of the probationary period is to determine how qualified new hires are for the job, and for examining their work ethic and ability to fit within a federal agency. So, how can you successfully pass the Federal probationary period?
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How to Wind Down Your Spending Habits After You Retire
In retirement, you will live on a fixed income, meaning you’ll need to ensure that your expenses do not exceed your income. While the idea of living more frugally may not appeal to you, it may even easier than you expected, since a fixed, predictable income can help you determine how to appropriately budget both time and resources. To help you through this transition, WAEPA has compiled our favorite tips and tricks for helping adjust your spending habits during your “golden years.”
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Top 3 Things to Know About FERS Retirement Benefits
The Federal Retirement System (FERS) is a retirement plan that covers all U.S. Federal Civilian Employees, including those in the executive, legislative, and judicial branches of the federal government. This plan does not cover employees of state or local government, or military personnel. FERS provides benefits to eligible employees from three distinct sources: A Basic Benefit Plan, the Thrift Savings Plan (TSP), and Social Security.
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Should You Use a 529 to Plan for Your Child’s College Education?
A 529 plan is a program run by a state or educational institution with unique incentives and tax advantages aimed at making it easier for parents to save for post-secondary training or tuition associated with enrollment into a secondary private, public, or religious school. Investing in a 529 plan transcends state borders, and these funds can be contributed to from any state, regardless of where your beneficiary is located. 529 plans are predominantly used to fund college tuition costs at any qualified institution nationwide.
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Unexpected Retirement Expenses and How You Can Prepare
Retirement is just the beginning of another adventure, and preparing for a successful one takes years of saving, planning and dreaming about the years you won’t be working. Pre-retirement planning is significant to everyone, but especially imperative for federal employees. Being proactive about your financial future is crucial in ensuring that you will have the kind of retirement you’re dreaming of.
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What Are the Benefits of Having a Chronic Illness Rider?
If you or someone you know has ever had to care for a loved one with a chronic disease or condition, you know the associated emotional, physical, and financial burden it can bring. During such times, it becomes more of a necessity than ever to plan ahead for extended care. This is where the Chronic Illness Rider insurance coverage comes into play, to help you and the people you love to find peace of mind. Here are several reasons to add a Chronic Illness Rider to your WAEPA Group Term Life Insurance policy. You must be under age 65 to apply for the Chronic Illness Rider.
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3 Frequently Asked Questions About Preparing For Retirement
Retirement planning is an essential part of life but can be confusing and difficult to maneuver. You must set your retirement goals, diversify investments and income, and make well-informed decisions. But what should you know before jumping in? Here are three frequently asked questions about retirement planning for federal employees.
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Do I need Life Insurance if I'm Single?
When the topic of life insurance comes up, it often addresses married couples and those with kids. This leaves the impression that life insurance isn’t necessary for a single, childless person, but there are plenty of scenarios where someone in this situation could need coverage. If you’re wondering why you should consider life insurance with no children, here are a number of reasons when it makes sense.
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How Much Life Insurance Do I Need Starting Out?
If you work for the federal government, getting life insurance is a smart decision that helps safeguard the financial future of your loved ones. The question of “how much life insurance should I get?” can be daunting to answer. You can’t pinpoint the exact amount down to the penny, but you can get the right amount of coverage that will help protect the ones who matter most. Too little could leave them in a tough financial spot should something happen to you. Here’s an outline of things to consider when calculating how much life insurance you need as a federal employee.
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Understanding How Retirement Planning Is Important To Do Now
Many young people and those starting their career in the federal government believe that retirement is a long way off. While it’s tempting to put off this decision for some extra pocket cash, there are many reasons why retirement planning for federal government employees is crucial.