John Mason, CFP®, reviews the potential pitfalls of declining survivor benefits and the true cost of this choice to your financial plan.
ℹ️ About the Episode:
• As a Federal Employee your pension benefits set you apart.
• Your $40,000 pension is worth having approximately $1M in your TSP.
• If you can't retire with full survivor benefits, you can't retire at all.
• It's difficult to replace your full pension with insurance.
• If you can't live on 90% of your pension, how can your spouse live on 0%?
• Your SBP premiums are pre-tax, making the full cost under 10%