ccording to a recent article in Moneywise, there are four things you need to do to prepare for in your first year of retirement. Below is their list, with some important modifications for the specific situation of federal employees.
Be prepared for an income adjustment. According to MoneyWise, many people need to adjust to far less money coming in and more going out. Thanks to a relatively generous federal retirement benefit, along with Social Security and savings in the Thrift Savings Plan (with agency matching funds), this may not be as big of an adjustment for federal workers. Many feds have spent their entire career in federal service, earning a lifetime stream of income.