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This is Cooper with Ben retirement planning comm, and today I'm going to talk about my top 5 tips for young federal employees when meeting with federal employees I've noticed a lot of similarities between them and one of the biggest similarities is when they reminisce about their earlier career so when they first started and something I almost always hear is I wish I would have known this sooner I wish you would have done this sooner this is a sentiment that's talked about often and something that you know if you're young, and you're a federal employee you're starting in your career, or you've only been in it for a little while this is something that you can change this is something that you can prevent yourself in the future having to look back and say man I wish I would have thought about that sooner I wish it would have had begun planning sooner, but my first tip for young federal employees is to start a rainy day fund now a rainy day fund essentially if you put some money into something that is highly liquid like a checking account a savings account money market account the reason you do this is so that you don't have to face you know these unexpected emergencies without having some cash reserves okay so in an emergency could be a medical emergency you could lose your job you can drop in salary you know you your family could pay some medical emergency your car could break down you know there's a lot of federal employees that live paycheck to paycheck, and they don't have to okay the reason is that a lot of times they live what's called the American Dream and the American Dream is nothing more than just you know sometimes at least it seems this way is living in debt, and you don't have to live in debt, so my first suggestion is to start a rainy day fund I think this is absolutely essential to protecting yourself and your family this is something a lot of people talk on, and I completely agree with, and I guess I would suggest around 3 to 12 months of your expenses in a rainy day fund so hit something that's highly liquid easy for you to pull out of just in case you need to okay the second tip I have for young fund employees would be to know how much you're paying for your benefits this seems very elementary but in reality it's something that a lot of our employees not just young ones I see this a lot with people that are retiring and have no idea how much they're paying for your know for their benefits okay one of the biggest benefits that I see people not understanding how much they're paying for is FELL federal employee group life insurance okay federal employee group life insurance increases excluding basic life insurance but option A B and C increase in price every five years up until the age 85 now the one that increases the most or the one that you'll see most often is option B now something that I suggest that employees look at especially when they're young is to try and qualify for a commercial life insurance policy and then compare...
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