Just a forewarning: I’m incredibly flustered at the moment and don’t have all details I may need for appropriate advice, but I need some footing to start this process and ask the right questions.
My mother, 64, has been with USPS for over 30 years. She’s been having zoom calls with a retirement advisor I THOUGHT was directly through the post office. They’re not.
She’s weeks deep in this, and is at the point where she cleared her thrift savings plan. She got the check for ~$30k today and has another for over $200k coming I guess.
Myfedwerks is the company she’s been talking to. Upon reviewing for myself, seems scammy. She was going to send these checks she cleared from her tsp to the company and they are supposed to ?? invest it for her?? Not quite sure.
No money will be sent. Period.
My questions are massive and I just don’t even know where to start.
Where should we put the money once we cash it? Should it go back in her tsp? Put it somewhere within fidelity or Schwab? She’ll be retiring in June. We still need it to grow over time.
Has anyone heard or have experience with myfedwerks? She said they never mentioned life insurance in all their calls/zooms but I see that’s the play they usually go with to “scam”.
Any input is helpful as I’m baffled and don’t know much about retirement accounts/scenarios at this level.