Retiring? Think canned food and cash

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So how long can you hold your breath underwater? Is six months asking too much? I mention this because …

If you are planning to retire anytime soon — like within the next 12 months — you better have a rainy day fund to help you keep current with the little things in your life: Like eating, paying your utility bills and avoiding foreclosure.

Over the next few months, a record number of federal workers are likely to decide to retire, or be forced out of their jobs. That would put tens of thousands of extra bodies into the already clogged federal retirement pipeline.

Once they retire, individuals get monthly interim payments until the Office of Personnel Management figures out what their regular benefit should be. The process involves lots of paperwork, and it is complicated when individuals have broken service or worked with several agencies or the military.

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