Does it make sense to consolidate for your retirement?

Does it make sense to consolidate for your retirement?

“I have been working in the federal system for 3 years and will retire within the next 5 years. I am 62. I have a good amount of money in the 403b from my previous employer, 25 years’ worth. Are there any disadvantages/advantages in rolling over my 403b into the TSP? Thank you for your […]

Buying Back Military Time Working as a Civilian

Buying Back Military Time Working as a Civilian

“I am so grateful that you put your information out on podcasts and email. This really benefits the federal govt employee and I share your information on these topics all the time, I entered the US Army Reserves in 1991 and then entered the US Government as a civilian in 2003. At that time when […]

Using Years Of Service To Calculate Your Pension

Using Years Of Service To Calculate Your Pension

“If I started in the NAF system in 1996 and then converted to GS in 2008 we were told it would count towards retirement. From doing my research only my GS time will count. Thank you was trying to figure out my pension” – Jeanne. https://www.youtube.com/watch?v=Q5J0qu4y_To If your FERS Pension is 30% LESS than you […]

Checking Beneficiary Designations

Checking Beneficiary Designations

“My wife and I updated our wills two years ago, it states that all of our estate is to go to the survivor and if something were to happen to either one of us. When the survivor dies it then goes to our two children. We’ve made the estate the beneficiary of our life insurance, […]

Divorce and Your Pension

Divorce and Yout Pension

“I am in the process of divorcing (prior to my federal retirement). I am considering agreeing to providing my soon to be ex-spouse partial survivor annuity and he is agreeable to paying the 5% penalty. If he pays me the penalty fee each month, am I made whole or am I at a disadvantage some […]

Roth Conversions and Taxes

Roth Conversions and Taxes

“I’m just about 65 and make about 125K a year working for the federal government. I plan to retire in five years when I’m 70. I want to convert a large part, maybe all, of my TSP, which is over $500,000, to a Roth IRA and I want to do that over the next five […]

Using FERS as a Down Payment

Using FERS as a Down Payment

“Can I withdraw my FERS to use as a down payment for purchase of Real Estate?” – Tracey. https://www.youtube.com/watch?v=CPm4DDHl0-c&feature=youtu.be When Federal Employees use their retirement benefits to buy a home or pay off a mortgage when they retire, they often end up making a catastrophic financial decision that can devastate their retirement plan. Purchasing a […]

Is FERS Supplement subject to SS Earnings Test?

Is FERS Supplement subject to SS Earnings Test?

“Planning on retiring at my MRA, is the FERS supplement subject to the social security earnings test? Thank you for your time!” – Craig. Underestimating retirement income can be detrimental to your wealth. Imagine if you retired, carefully planning for your go-go years and beyond, only to realize six or seven months in that you […]

Changing the Distribution of your TSP

“I retired as a FERS employee at age 56 with over 32 years of service. Upon retirement, I chose to withdraw $2000 per month from my TSP account. Here’s my question: I don’t need $2000 per month to pay my expenses given that I have a retirement annuity and other income. Can I change the […]

Will FERS Supplement Be Taken Away Due to Annual Leave Payout?

“I retired from Federal service on Dec 31, 2020. My annual leave balance was paid out to me in a lump sum at the end of the first pay period in January 2021. Is the annual leave payout I received in 2021 considered earnings, and will it affect the FERS supplement that I’m receiving in […]

How Many Additional Years Do I Need to Work

“Hi Tammy and Micah, Thanks for the information. I separated from the government at age 54 1/2 years and 20.5 years of service. I like to come back to work for the government in the near future (eg at age 58/59). How many additional years do I need to work so that my health benefits […]

Add Husband to FEHB at Retirement?

FEHB for spouse

“Hi! I LOVE your podcasts! I am a Federal employee, have met my MRA and will meet my 30-years of service on Nov 2, 2021. I’d like to retire as soon as I can, but want to make sure my husband and dependent daughter can be covered under my FEHB into my retirement, and beyond. […]

Do You Want To Learn How To FIll Out Retirement Forms Accurately and Confidently?