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| Begin planning your retirement at least
7 years before you actually retire.
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Retiring on the spur of the moment because
of a difficult assignment or personality clash on the job. The early
out of '92 is a good example.
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| Attend several pre-retirement seminars.
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Failing to discuss retirement plans with
your spouse.
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| Keep your retirement plan confidential,
this allows you to change your mind if retirement plans change.
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Retiring "from" something without having
something better to do.
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| Discuss your plans with your spouse so both your interests can be preserved in your new life style. Know there is a spousal consent requirement. | Expecting to live comfortably on your annuity without making realistic calculations on how much money it will take to maintain your standard of living. |
| Learn the facts of your many retirement
options from the APWU Retiree Department and the retirement counselor in
your post office.
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Failing to stay abreast of developments
and changes in federal retirement entitlement and trends.
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| Review your life and health insurance needs and figure the cost as you decide which policies to take with you into retirement. Understand how age will impact your life insurance. | Retiring without reviewing all the retirement
options, and the pros and cons of each.
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| Stay where you are for about a year after you retire. This will help you make a wise decision on whether to stay close to family and friends or move to a new area. | Basing retirement decisions on the advice
of friends rather than consulting the experts.
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| Take advantage of the various 'Thrift' plans (CSRS-FERS) available to you. Save the maximum you can, even if you will only be in the program for a year or less. | Selling your house and moving to an area
without being sure of the cultural, social, and economic realities of the
move.
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| Take financial inventory and budget for unexpected expenses like increasing college tuition for your children or medical care for you or a loved one. | Believing that your active, productive
life is over just because you are retiring.
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| Take advantage of all retirement information
provided by your APWU Retiree Department, Postal Agency, OPM and independent
sources.
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Failing to review all your service and entitlements to be sure you get proper credit. Believing that the estimate you receive from the Postal Service is the factual amount of your annuity. |
Link to TSP - Thrift Saving Plan
Return to the Top of the Quincy IL Area Local Home page
This site was created by Jack Ball.
Please address all comments and corrections
to him at apwuqcy@adams.net