Long Term Financial Planning for my Family

Your federal benefits aren't just for you. Set up right, that can take care of your family for decades, even after you're gone. But set up right is the part that can trip people up.

Federal benefits come with some of the best family protections out there. But they only work if you set them up in a way that makes sense for your situation. A lot of people haven't done that work.

Start with the survivor annuity. It's one of the biggest decisions you'll make. It determines what your spouse gets after you're gone, and you have to elect it correctly the first time. But the right option isn't always as straightforward as it seems.

Then there's FEGLI, your federal life insurance. It gets expensive as you age, really expensive, and the coverage drops. Most people don't realize how much it changes after age 65. But there are private life insurance options that may be cheaper.

Your TSP is another one. It doesn't just pass to your family automatically the way you might think. Your beneficiary forms matter, and so does how your spouse takes the money, let alone whether leaving it in the TSP is the right thing to do at all. These aren't decisions you make once and forget. They'll impact the rest of your life.

And long-term care is the piece almost no one plans for, which is a problem because it's the one most likely to drain a family's savings.

A real plan looks at all of it together. Not survivor annuity over here, life insurance over there, TSP somewhere else, but how all the pieces work as one picture for the people you love. You spent a career earning benefits that can take care of your family for decades after you're gone. If you want to make sure to avoid some common mistakes, give us a call for a free consultation. We'll walk through what you have and help you build a plan that holds up for you and the people you love.