If you have made it past your probationary period and your are done with all your training, but you're not sure that you are going to stick it out for a full career with FCPD, here's what to do:
Hold on to all that cash you saved up while you were saving during your initial training and probationary period with the Department. Keep that as cash in case you need it. It is your Emergency Fund.
Now, though, it is time to begin investing and since you are not sure that you are going to stay with the Department for a full career and enjoy the benefits of the pension, it would be wise for you to invest as though you are a "normal" investor.
Police Officers have certain special considerations for their investments given that they retire early and have a pension.
Since you might not be a Police Officer in the near-ish future, follow the standard investing advice of 'have a broadly diversified set of investments, avoid risk, and invest for the long term'.
Consider a Target Date Retirement Fund.
Despite the fact that you might not stay with the Department for the long haul - max out your Deferred Comp investments, both your 457 ($19,500 per year) and your Roth IRA($6,000 per year). You can take those accounts with you to your next employer and 'future you' will be glad that you began saving early and aggressively.
Your next employer may have a different broker which manages its retirement accounts. You may choose to "Roll over" your T Rowe Price retirement accounts to the new broker in order to take advantage of the benefits they offer, like a matching employer contribution, etc.
Join the FOP The biggest risks to your financial future are divorce and legal action.
