Listen to the interview on the Business Innovators Radio Network: Interview with Cameron Bryant of Found Revenue Solutions & Retirement Specialist at Federal Employee Advocates
Mike Saunders, host of the Influential Entrepreneurs Podcast, welcomes Cameron Bryant, founder of Found Revenue Solutions and Retirement Specialist at Federal Employees Advocates. They discuss the current challenges faced by federal employees, particularly in light of early retirement offers and job uncertainties. Cameron highlights the importance of navigating these changes, focusing on assessing the income gap that may arise from retirement. He emphasizes the need for federal employees to explore their options regarding FERS pensions and Social Security to ensure they can retire comfortably without the need to return to work.
Effective retirement planning is crucial to ensure that individuals do not find themselves in a position where they must return to work due to inadequate income. This concern is particularly relevant for federal employees, who may face unique challenges and uncertainties in their retirement planning.
One of the primary issues federal employees encounter is the “income gap.” This gap occurs when the income generated from sources such as the Federal Employees Retirement System (FERS) pension and Social Security is insufficient to cover living expenses. As Cameron Bryant points out, while many federal employees may qualify for their FERS pension and Social Security, these sources alone may not provide enough income, especially in light of rising living costs and inflation.
Inflation significantly affects retirement planning. In recent years, many retirees have discovered that their fixed income from Social Security and pensions does not stretch as far as it once did. As living costs rise, retirees who did not adequately plan for inflation may find themselves in a precarious financial situation, leading them to seek part-time work or even return to full-time employment. Cameron highlights that this trend has become alarmingly common, with many federal employees being forced back to work because their retirement income is no longer sufficient to meet their needs.
Cameron emphasizes the importance of planning well in advance of retirement. Just as professional athletes prepare for their games ahead of time, individuals should not wait until the last minute to devise a retirement strategy. Proper planning allows individuals to assess their financial situation, identify potential income gaps, and make informed decisions about their retirement savings and investments.
A crucial aspect of retirement planning is the protection of retirement assets, particularly for those nearing retirement age. Cameron advises individuals to consider safeguarding a significant portion of their Thrift Savings Plan (TSP) accounts, especially when they are three to five years away from retirement. This protection phase is vital to guard against market volatility, which can severely impact retirement savings. By utilizing options such as the G Fund, a government bond fund, retirees can minimize their risk and ensure that their assets are preserved for their retirement years.
Social Security is another critical component of retirement income. Cameron discusses the importance of strategic planning regarding when to take Social Security benefits. Delaying Social Security can lead to increased monthly benefits, significantly enhancing retirement income. However, this decision must be balanced with the individual’s immediate financial needs and overall retirement strategy.
Cameron said: “The number of people, the federal employees that are being forced to go back to work because they do not have enough income in retirement.”
About Cameron Bryant
Cameron has over 33 years experience in working with Business Owners, Seniors, Federal employees and Franchisee’s in the planning and development of Tax Favored Retirement plans, Living Trusts, , Buy/Sell Agreements, Executive Bonus Plans Marketing and Wellness Benefit programs. I was able to work exclusively with the Franchisee’s of 7-11, Mobil, Shell, Hallmark, and Yamaha to create personal as well as business Retirement Plans. Working now exclusively with Federal Employees and retirees in helping them understand their benefits and helping them to retire with a sound and stable plan.
Learn More:
https://federalemployeeadvocates.com/Cameron/
https://www.linkedin.com/in/cameron-bryant-48b51014/
949-412-3534
Cameron@ FederalEmployeeAdvocates.net
