Posted on Friday, 29th April 2022 by Dennis Damp
We can expect another significant COLA increase in 2023 if inflation continues on its current path or if we move to what economists call stagflation. According to the Senior Citizens League, the 2023 COLA could be as high as 8.9%; the largest increase since 1981 when it was 11.2%; in 1980 it was 14.3%! There […]
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Posted on Friday, 8th April 2022 by Dennis Damp
It’s impossible to time the market. One of the financial advisers I talked with years ago asked me this question: “Who are you investing for?” He suggested being more aggressive if you don’t require your investments to live on in retirement or investing primarily for your heirs. The market ultimately increases over time. The S&P […]
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Posted on Friday, 25th March 2022 by Dennis Damp
Investment Rates Updated 5/22/2022 Currently, even after the recent Federal Reserve’s interest rate hike, my bank reduced their savings rate from .05% to .04%! Makes no sense except for the banks, they loan our money out at much higher rates and we fund their huge profits. Bank CEOs brag about their astronomical client deposits and […]
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Posted on Friday, 11th March 2022 by Dennis Damp
My previous article titled “Skyrocketing Inflation” had a broken link, the most clicked on link in the article. Here is the corrected link: How to Keep What You Worked a Lifetime Accumulating (Updated) Typically, I focus on issues that impact those planning retirement and annuitants alike. The common thread reflects my personal experiences and […]
Tags: Border problem, emergency food supplies, Inflation
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Posted on Friday, 4th March 2022 by Dennis Damp
Everyone must prepare to maintain their standard of living in retirement. Retirees from all sectors and those still working feel the wrath of this unrelenting force that constantly impacts our day to day lives. The progression of this financial endemic (inflation) is always upon us. At times, and when the economy is on a sound […]
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Posted on Thursday, 3rd February 2022 by Dennis Damp
Good news for those wanting more investment options. The TSP plans to add a mutual fund window as early as this summer. A welcomed addition from my perspective. The proposed rule was posted on the Federal Register January 26, 2022. Comments must be received on or before March 28, 2022. Congress passed legislation in […]
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Posted on Sunday, 23rd January 2022 by Dennis Damp
I’ve received a number of questions ranging from COLAs and I Savings Bond interest, to the impact on a federal employee’s annuity if they retire early or take a deferred retirement. You may find this information helpful. COLAs and the FERS Supplement FERS employees retiring with a Special Supplement should be aware of their limitations. […]
Tags: COLAs, Federal Retirement, I Bonds, Leaving Federal Service
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Posted on Friday, 14th January 2022 by Dennis Damp
Federal annuitants receive their updated Annuity Statement, with the COLA increase added, early January. Our 1099R Tax Forms typically aren’t available until the end of January by regular mail. Registered users of OPM’s Retirement Services Website can download their Annuity Statement and 1099R forms NOW! CIVIL SERVICE ANNUITY STATEMENTS OPM sends out updated annuity statements […]
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