To Stay or Not To Stay in Government

By Tammy Flanagan

January 31, 2014

Last week, I wrote about my experience talking to “Heather,” a 36-year-old-federal employee. Here are the basics of Heather’s situation:

Heather’s big question is whether she should continue to work for the federal government or leave federal service for a potentially more interesting position in the private sector. Because of her need to care for her son and the fact that she is the sole breadwinner for her family, she has to be very careful when making career moves.

I offered Heather the following tips and suggestions:

Heather would be smart to consider the value of all of her federal benefits before making the decision to change careers and leave her federal job.

It can be an eye-opening process to review your benefits to understand their value and the factors that influence their future growth. The next step for Heather would be a thorough review of her retirement goals with a financial adviser to look at the big picture and find out if she has any debt and tax issues that might be lurking that could derail her plans. As a single mom, she’ll also need to address estate planning issues at some point.

The good news is that Heather is doing many things right and she’s on a path to a comfortable retirement. And that just goes to show that retirement planning should be an ongoing process throughout your federal career.

(Image via Tashatuvango/Shutterstock.com)


By Tammy Flanagan

January 31, 2014

http://www.govexec.com/pay-benefits/retirement-planning/2014/01/stay-or-not-stay-government/77912/