There are dozens of articles that provide the same surface-level details regarding custodial Roth IRAs. My goal with this article wasn’t to provide yet another general summary. I wanted to dive deep on the practical aspects and really focus on the questions that I’ve been asked by many parents. As always, I am a financial planner but I am not your financial planner. I am not an accountant and this article is by no means tax advice. Consult with a professional before making fi

*Click here for the full Foreign Service & Civil Service retirement eligibility table. I joined the U.S. Department of State in 2020. Like you, I don’t know if I’ll be retained or let go. There are many aspects of this transition that are out of our control. However, what you can control is your level of knowledge. I’m hoping this document will give you an idea of what you may be eligible for so that you can start planning. While I attempt to cover a lot of topics and situati

The Retiree Annuity Supplement, Special Retirement Supplement, FERS Supplement, Social Security Supplement…there seem to be endless names for, “the supplement”. I’m going to call it the Retiree Annuity Supplement (RAS), simply because that’s what it’s called in Chapter 51 of the Office of Personnel Management (OPM) FERS Handbook. A quick definitional note: the paycheck federal employees get for life when they retire is technically called an annuity. To avoid confusing your li

What is a Lifecycle Fund Lifecycle Fund, Target Date Fund, LifeStrategy Fund, Target Retirement Date Fund. Regardless of the branding, these funds are all constructed around the same concept. The further away you are from a specific date, the more aggressive your investment portfolio can be, generally meaning more stocks and less bonds. As you get closer to that target date, the asset allocation shifts and becomes more conservative (fewer stocks, more bonds). The Thrift Sav