CSRS, or the Civil Service Retirement System, was the system in place offering retirement, disability, and survivor benefits to employees of the U.S. federal government until 1987.
Then everyone looked around at each other in the late ‘80s and decided that a lot had to get fixed. Hair was getting too big. Music had too many synthesizers. And the CSRS was switched to the FERS, or Federal Employee Retirement System, which is leaner in the benefits it gives out. Unlike CSRS, FERS takes into account benefits federal employees are already getting through Social Security, government contributions, and employee contributions.
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Finance: What is a Keogh Plan?64 Views
Finance allah shmoop What is a keogh plan Well basically
it's an ira for self employed people and more or
less like have your own company your own llc Well
then you probably want to sock away some dough without
paying taxes today betting that you'll want to pay him
instead Tomorrow if ever knock on the door of keogh
plan central and you'll save your way to prosperity Sort
of lungs You invest the money well in the market
Well basically the keio works just like an ira If
you makes a hundred grand a year and you pay
thirty five percent tax on that last ten grand that
you make or thirty five hundred box well instead you
could put that ten grand into a keogh plan invested
for however many years until you're an old geezer Think
seventeen and a half plus And hopefully that ten grand
grows a whole lot in an index fund or something
like that Because the market doubles about every seven eight
nine ten years something like that And then when you're
not working i'ii earning ah whole lot less money Well
then you can start withdrawing that money from your keogh
Plan You pay something more like i don't know twenty
percent in taxes at that point because you're taking lesson
pay than you did when you were accumulating wealth like
that thirty five percent So while the fuss to save
just fifteen percent net difference in taxes at thirty five
minutes Twenty there Well it's not that much fuss A
few forms you fill out of filing here and there
and well that's kind of it You go buy an
index fund and sit but more to the point it's
a day discipline That is when you have this wonderful
allure of saving taxes well for most people it's enough
of an incentive to actually save money rather than spend
it and that's a good thing to dio So you
don't end up like this guy living in his suv 00:01:46.432 --> [endTime] you know down by the river
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