If you’re a federal worker who is nearing retirement, the Trump administration’s efforts to slash the size of the government might have you considering retiring sooner than expected.

Tens of thousands of federal employees, many of them in Maryland, have lost their jobs or have chosen to resign rather than face the current uncertainty of civil service.

But are you ready to retire? Here are some tips for answering that question from financial experts, including some who specialize in federal retirement benefits.

Analyze your spending needs

Make a budget for your expenses in retirement. Determining whether you have enough money saved for retirement is an individual process, said Lisa Whitley, an accredited financial counselor and former federal employee. You’ll need to sit down, get out your bills and bank statements, and take a comprehensive look at how you spend your money.

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“The starting point is understanding your spending, but particularly understanding the difference between your must-have spending and your discretionary spending,” Whitley said.

Don’t forget about things like home and vehicle repairs; taxes and homeowners insurance; and periodic expenses, like holiday gifts. You should also consider the cost of long-term care that you may need as you get older, Whitley said.

“Long-term care is very expensive, and you need to have a plan for that,” she said. “It may be insurance, it may not be. Whatever it‘s going to be, you need to understand going into it what you may do about long-term care.”

Understand your sources of income

On the other side of the balance sheet, you need to figure out your sources of income in retirement. If you’re planning to draw from Social Security but want to claim before your full retirement age (67 for most people), you need to understand how that decision will reduce your benefits.

You can use the Social Security Administration’s quick calculator or this open-source Social Security calculator used by many financial planners, Whitley said.

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If you have a federal pension, include that in your calculation, along with whatever you’ve been able to save in a 401(k), Thrift Savings Plan or other account. Be realistic about other income sources: Many people say they will work part-time in retirement, but few actually do, Whitley said.

If your guaranteed sources of retirement income fully cover your must-have expenses, “you’re in a good spot,” she said. That‘s the best-case scenario, but it isn’t always possible. If you find that you’re short, it may be best to take some time to save as much money as possible now.

“That may be a year where you are just changing your spending habits and throwing everything into savings,” Whitley said.

Retiring from federal service

Federal retirement benefits are complicated and can vary from person to person, so it‘s hard to give specific advice, experts said, but here are some preliminary tips for federal employees who are considering retirement.

Confirm your years of service, which helps determine whether you’re eligible to retire. Maybe you worked part-time for a few years, or served in the military but haven’t taken steps to get credit for that time. Either way, you need to be sure about what counts toward your creditable service. You can learn more about this process here.

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“There’s so many nuances that can happen with each individual person, for them just to get clarity on themselves is really important,” said Chris Kowalik, founder and CEO of ProFeds, which offers federal retirement training workshops.

Make sure you know what retirement system you fall under and which rules apply to you. For example, some federal employees can begin drawing from their Thrift Savings Plan without penalties sooner than others. Contact your local HR department to get this information and ask your retirement questions, Kowalik said.

Plan ahead. You should have already worked out whether you have enough money to retire and gotten your questions about specific benefits answered by HR before you submit your application to retire, Kowalik said.

“Too often, people just realize they’re eligible, they submit their paperwork, and then they ask about life insurance or something else,” she said.

Pay attention to your health benefits, advised John Hatton, staff vice president of policy and programs for the National Active and Retired Federal Employees Association. You can retain your health insurance in retirement if you meet certain eligibility requirements, such as receiving five continuous years of coverage before retiring.

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All of these complicated factors are also a good reason to talk to a financial professional, experts said.

“The HR person that this [federal employee] might be dealing with for payroll issues or their retirement package — that person is not equipped to look at someone’s entire financial picture and tell you whether it’s OK to retire or not,” Kowalik said.

Here are some additional resources: