Do Federal Employees Really Want to Retire?
As a federal employee, the question ‘Do you really want to retire?‘ is a totally different question than can you retire. If you don’t really want to retire because you feel you have a lot more to give and the thought of retirement simply does not appeal to you, is not an usual phenomenon. According to the Blue Zone Report (people who live longer, healthier lives) retirement in the traditional sense might not be a good idea. Studies have certainly shown that being active is of great benefit to humans both physically and mentally, it keeps you in the game.
There are a number of opportunities available to persons who don’t want to retire. The Office of Personnel Management (OPM) is exploring the idea of Phased Retirement which will keep many in the federal workforce on their jobs for a longer period of time. Those employees who want to stay in the federal workforce may have options via proposed Phased Retirement or the option of working as Contractors.
The other side of the coin is, can you afford to retire as a federal employee.  After examining your options, performing a benefit analysis and finding that the estimated money that will be coming in after you retire, just won’t cover your expenses is reason to pause and evaluate options. What to do? If you are within 3 to 5 years of retirement, it might not be a whole lot that can be done in terms of a salary increase. But you can tap into doing more through your Thrift Savings Plan (TSP). It is always a good idea to maximize participation in TSP to the greatest extent possible. Exercise all of your options to leverage your ability to secure your retirement future.
It is never too late to begin planning for your retirement future as a federal employee. Plan now, look at your options realistically, and take care to stack up your expenses against the estimated revenue you will receive in retirement.  It is important to realize that wanting to work and needing to work are a dynamic that should be prioritized early so that working or not working is voluntary and not mandatory.
P. S. Always Remember to Share What You Know.
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