There's no single number that works for everyone, but a common starting point is 70 to 80% of pre-retirement income. The right number depends on location, health, and lifestyle goals. Federal retirement income comes from three sources: pension, Social Security, and TSP, and each source works differently and needs its own plan. A clear income picture before retiring reduces surprises later.
Video Transcript
Read the full transcript161 words
Do I have enough money for retirement? How often does that thought run through your mind?
We found that it's very common, and for good reason. For federal employees, figuring out the answer means looking at a few different moving parts. There's no single number that works for everyone. A common starting point is around 70 to 80% of what you're making before you retired. But that's a rough guideline, not a rule.
Your real number depends on where you live, your health, what you want your retirement to look like, and how long you need the money to last. For federal employees, the picture includes your first pension, Social Security, and your TSP. And they all work differently.
Getting a clear picture of what your retirement income can look like from all three sources combined is one of the most useful things you can do before you stop working. Having a picture and a plan can give you significant peace of mind.
Ready to review your plan?
These videos cover the general rules. Your numbers are specific to you and need guidance tailored to your situation and goals. Schedule a call with an advisor and walk through your plan.
Schedule Your CallThe content in this library is provided for educational and informational purposes only and does not constitute investment, tax or legal advice, or a recommendation to buy, sell or hold any security or to pursue any particular strategy. It does not take into account your individual objectives, financial situation or needs. Investing involves risk, including the possible loss of principal. Rules governing federal benefits, the Thrift Savings Plan, Social Security and taxation are subject to change, and information presented may not reflect the most current guidance. Consult a qualified professional regarding your own circumstances before acting on any information presented here.