Should You Put Your Countdown to Retirement on Hold?
Federal employees have a lot to gain (how's $10,000 more per year in retirement sound?) by sticking it out until age 66.


Few milestones in life are as eagerly anticipated as retirement. You may already even be preparing for the magical age of 62 — the earliest age you can draw Social Security. The thought of working an extra four years to the full retirement age of 66 might not be a sacrifice you’re willing to make.
Federal employees have a complicated set of benefits. For some, they could fall into different retirement plans. Those who began work before January 1984, for example, were hired under the Civil Service Retirement System, CSRS. Those hired after January 1984 became part of a new plan called the Federal Employees Retirement System, FERS. These employees were also required to pay into Social Security.
Women’s Risk Factors
Female federal employees face a unique set of issues when planning retirement. Historically, women earn less, don’t have enough saved, don’t work as many years (because of such reasons as caring for children or other loved ones) and in general have low retirement confidence. Some married women may expect that their spouse will take care of them, but that doesn’t always happen. Therefore, women often take fewer proactive steps in planning for retirement.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Today, women are outliving men in every country in the world. According to the Social Security Administration, a woman turning 65 today can expect to live, on average, to 86.6, compared to 84.3 for a man. In addition, it’s important for women to have a strategy in place for long-term care, since women make up the majority of those living in nursing homes.
A Simple Solution
The golden rule for retirement planning is earn more, save more and spend less. Remember the extra-four-year calculations above? They’re looking more attractive.
Hold off on that retirement celebration. Instead, begin a four-year countdown and look forward to a retirement that will allow you to comfortably enjoy your senior years.
Rozel Swain contributed to this article.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Ann Vanderslice, president and CEO of Retirement Planning Strategies, specializes in helping federal employees understand and maximize the value of their benefits and plan for retirement. Vanderslice holds the Registered Financial Consultant designation from the International Association of Registered Financial Consultants. She is the author of "FedTelligence 2.0: The Ultimate Guide to Mastering Your Federal Benefits."
-
How to Add Your Driver’s License to Apple Wallet
Turn your iPhone or Apple Watch into a digital ID — here’s where it works and how to set it up.
-
Taylor Swift Can Shake Off Wedding Costs — But Most Couples Can't: The Price of Getting Married in 2025
From engagement rings to bachelor parties, here's what it really costs to get married in 2025.
-
I'm an Annuities Expert: Here Are Two Ways to Use Annuities to Benefit From the OBBB
To qualify for a new tax break included in the One Big Beautiful Bill Act, some older adults need to lower their taxable income. Annuities can make that happen.
-
Here's Why Munis Aren't Just for Wealthy Investors Now
Buyers of all levels should be intrigued by municipal bonds' steep yield curve, strong credit fundamentals and yield levels offering an income buffer.
-
I'm a Financial Planning Pro: Do Your Family a Final Favor and Write Them a Love Letter
Specify your preferences in this personal document that shares your wishes on how you want to be remembered and celebrated. Your family will thank you for easing an emotional time.
-
The Future of Financial Advice Is Human: Gen Z Trusts Advisers, But AI Skills Matter
Graduates entering the workforce trust human advisers more than AI tools with their financial planning. But AI can still enhance the client/adviser relationship.
-
I'm a Wealth Adviser: If You're a DIY Investor, Don't Make These Five Mistakes
Even though you may feel confident because of easy access to investing information, you may be making mistakes that could compromise your long-term performance. Here's what you should know.
-
Building a Business That Lasts: The Critical Steps to Avoid Blunders
'Another Way' author David Whorton offers advice on how to build an 'evergreen' business that endures by avoiding common pitfalls that can lead to failure.
-
I'm a Financial Pro: Why You Shouldn't Put All Your Eggs in the Company Stock Basket
Limit exposure to your employer's stock, sell it periodically and maintain portfolio diversification to protect your wealth from unexpected events.
-
How Will the One Big Beautiful Bill Shape Your Legacy?
The One Big Beautiful Bill Act removes uncertainty over tax brackets and estate tax. Families should take time to review estate plans to take full advantage.