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Author: Micah Shilanski

Ep #64: Spending Money in Retirement

Spending Money In Retirement

Listen to the Full Episode: Christian Sakamoto joins the show again today to discuss cash flow and the money you spend in retirement. This is often a topic that isn’t addressed properly, and budgeting typically puts a bad taste in people’s mouths, but in this episode, you will hear why some of the greatest advisors […]

Ep #52: How Much Do You Want to Spend in Retirement?

Micah is flying solo in today’s podcast to answer this indirect question that he gets when meeting with clients. He discusses how to decide what you want to spend in retirement and shares the tools he uses to help people plan for that. Listen in as Micah goes over the issues he has with budgets […]

Ep #47: Myths about CPA’s and Tax Preparation

In this episode, Micah is joined by a special guest who will shed light on some myths and misconceptions that you may be dealing with while doing your taxes this year. Steven Jarvis is a CPA and the cohost of the Retirement Tax Podcast, and he’s just who we need on the show this time […]

Ep #46: When Your Retirement Is Off, What Do You Do?

When it’s time for that little blue book to arrive, it’s important not to just file it away. Today, Micah and Tammy share what this little book is and how you can use it to review your retirement benefits. You will learn why it’s so key to ensuring your retirement is on track and also […]

Ep #45: LTC – What You Need To Know And Avoid!

As people get ready to retire, questions about long-term care often start coming up. Although it may not be the most fun subject, it’s a great one to have a solid understanding of and plan for. So, in this episode, Tammy and Micah let you in on the things you most need to know about […]

Ep #44: No Love Like Survivor Benefits (Heart)

Now that we’re in February, we’re going to call this episode “the love episode”—and there’s no love like survivor benefits. So today, Micah and Tammy discuss important planning decisions when it comes to retiring as a couple and planning for post-retirement transitions. You can also get a great look into survivor benefits, including what you […]

Ep #43: TSP Withdraw Plans

TSP Withdraw Plans

Sometimes we get so caught up on end-of-the-year stuff that things can easily be missed or slip by us if we’re not careful. Tammy and Micah thought through what some of these things might be and came up with a list that will help you plan ahead when it comes to the TSP in particular. […]

Ep #41: TSP & Market Volatility: Part 4 – Q & A

In this episode, Tammy and Micah continue with the insights into TSP series and answer some great questions from active TSP participants. Whether you are deciding at what age to take Social Security, wanting to calculate a FERS pension, or trying to find the best savings and growth plans in retirement, this episode is for […]

Ep #40: TSP & Market Volatility: Part 3 – Silver Linings

In this mini-series, Micah and Tammy have been talking about your TSP during a time of volatility and the strategies you can implement to encourage growth and stability at all times. (If you haven’t yet, check out the previous two episodes where they answer questions about TSP in retirement and outline the bucket strategy.) This […]

Ep #39: TSP & Market Volatility: Part 2 – Buckets

Today, Tammy and Micah continue to address questions they’ve been receiving regarding your TSP and market volatility. In this second part of the series, they will focus on giving insight into the strategies they use when planning. (If you haven’t tuned in to the first part, head back to check out episode 38 before jumping […]

Ep #38: TSP and Market Volatility: Part 1 – Markets Go Down…Now What?

How are things going to unfold when it comes to your Thrift Savings Plan (TSP) account? Tammy and Micah have been getting a flood of questions related to this lately, so today—and for the next few episodes—they’ll be giving you access to a webinar they did on this topic. Over this 4-part series, you’ll learn […]

Ep #37: Non Voluntary vs Voluntary Separation

Right now, the entire world revolves around COVID—even more so with executive orders and rules that are requiring employees to get the vaccine by the end of November. Micah and Tammy have gotten quite a few questions about how this situation might play out in terms of federal benefits, so today they’ll be discussing the […]

How to Beat the Rush for Dec 31 Retirement Rush

https://youtu.be/GZdmjDOuNlY “I am a 35-year USPS employee and am planning on retiring this year. I am 58. I have heard about the backlog of retirement applications that OPM gets at the end of the year and wonder if I should think about retiring in Oct or Nov to beat the rush. Dec 31 is a […]

Disability Retirement

What is a Disability Retirement under FERS? Unlike the Immediate, Deferred, or Postponed Retirements, the Disability Retirement is a unique type of retirement only offered to federal employees who become disabled and can no longer work in their respective positions.  Unfortunately, anyone can become disabled at any age; whether that’s physically and/or mentally.   The FERS […]

Understanding What Your “High-3” Means when Calculating Your FERS Retirement

As a Federal Employee, your  High-3 average salary refers to the average of the highest three consecutive years of base pay earned.  This is calculated based on your “deemed” rate, meaning that even if you work part-time, your High-3 is calculated based on what you would have earned if you were full-time.  For most people, […]

Ep #36: Medicare Advantage Within and Outside of FEHB

At 65, something happens to all of us where we have this forced decision that we have to deal with when it comes to Medicare—and it opens up a few more options. There are a lot of rumors about Medicare that go around (some true, some not true), so facing plan changes and all the […]

Ep #35: Social Security, COLA, TSP

Today, Micah and Tammy are picking up where they left off in the last episode and discussing Social Security COLA and your TSP COLA. They’ll be sharing how those two things work together, as well as how you can plan for them to serve you best. Listen in to learn how COLA works with Social […]

Ep #34: COLA vs. Pay Increase

Many people are under the wrong impression when it comes to retirement, COLA, and pay increases. Once the numbers are run, things are rarely as rosy as they may have seemed during planning. So today, Micah and Tammy will be addressing this and a few other additional misconceptions people have when planning their retirement. Listen […]

Follow Up Friday – Risks in Retirement

Learn what to consider about life expectancy when planning for retirement. Listen to the Full Episode: Enjoy the show? Use the Links Below to Subscribe:    

Ep #33: Risks in Retirement

When preparing for retirement, it’s important to plan for flexibility. There are a number of post-retirement risks that can upend the most precisely laid-out retirement plans, and the longer the retirement period grows, the harder it is to be certain you have planned accordingly with your assets. So, in this episode, Micah and Tammy will […]

Contributing to Spousal IRA’s

Total TSP Contribution Table

“I stumbled on your podcast and the information is GOLD – thank you! I am 45 and 15 years away from retirement. This year I will maximize my TSP (1/2 Roth and Traditional). Can I contribute to a spousal IRA within TSP. My spouse works part-time and is not able to contribute.” – Jackie Words […]

Ep #32: Retiring In December vs. January

best times to retire

More and more federal employees are thinking about retiring at the end of the year, and while we’ve already gone over the best times to retire, this episode is going to focus on this common aim for retirement and how to get ready for it right now. You’ll learn what you can do to prepare […]

Leaving Federal Service for Private Sector

Leaving Federal Service

I am considering leaving federal civilian employment after 14 years, which includes 8.5 years of military service. I read that I can still draw the annuity and TSP at retirement age if I leave all of my money in place. I also read that I can continue to contribute to the TSP through my new […]

Tax Penalties in the Thrift Savings Plan

“Hello, I am a retired 58 yr old federal employee that retired after 34 years of service. My wife and I are looking at buying a trailer and horse camping around the US. I have both a traditional TSP and a ROTH TSP. I want to know if there are any penalties if I withdraw […]

Ep #31: Derailing Your Retirement

When it comes to retirement, there is an overwhelming amount of incomplete or incorrect information on the internet purported as fact. The truth is, you don’t know what you don’t know, so it can be easy to overlook these misconceptions and accept them as truth. In this episode, Micah and Tammy will be sharing some […]

Survivors Benefit and Social Security

Survivor Benefits

“Mr. Shilanski, Social Security Survivors Benefit question. I am under the FERS program and I plan to retire late this calendar year. I am 65 yrs old. I will have 47 plus yrs of service (military and civil servant combined time) when i retire. My wife is 67 yrs old and started drawing Social Security […]

Ep #30: Why Mid-Career Is the MOST Important Time

There is so much misinformation out there, and sometimes, it is important to simply get back to basics and ensure your information is correct. So in this episode, Micah and Tammy will be going over the fundamentals of retirement, focusing on how things may change from individual to individual and the different choices that may […]

Postponing Retirement Past 62

Postponed Retirement

I worked for the federal govt for 11 years. I was born in 1960 January. I was 56 at the time of separation. Need to know if postponement to a longer time than age 62, will accrue in further enhancement of any benefits. Is there any age beyond waiting is not worthwhile. Kahlid is asking […]

Ep #29: The Questions You Should Have Asked

Will a form for retirement be sent to you, or do you have to request that form? Can you transfer money from a traditional TSP to a Roth TSP—and will there be penalties? These are just some of the things that Micah and Tammy will be covering in today’s episode as they reply to questions […]

Withdrawing from Your TSP

Withdrawing from Your TSP

At age 59 1/2, I would like to use a TSP one time withdrawal to pay off a mortgage then eventually transfer the balance to a IRA when I retire at age 62. Does the amount I withdraw directly add to the amount I’ll earn and is this total going to be the basis for […]

Annual Max Contribution to Your TSP

Annual Max Contribution to Your TSP

Are you still allowed to contribute the maximum of $26,000 to the TSP even if you only work half of the year? Is there any advantage to maxing out your contribution to the TSP fund for 2021 if you’re retiring in 2021 and plan to withdraw money in 2021 is an amount greater than the […]

Ep #28: Court Orders That Can Half Your Retirement

Divorce is generally not a fun topic, but when you are considering retirement, it is a necessary discussion to have. For many people, the terms and conditions of a divorce can come back to haunt them—even decades later—if they are not completely settled upon in the beginning. So in this episode, Micah and Tammy will […]

Follow Up Friday – TSP and Social Security

Questions to ask yourself to ensure you’re properly balancing your social security and TSP so you get the most benefit. Listen to the Full Episode: Enjoy the show? Use the Links Below to Subscribe:    

Unexpected Taxes

tax planning in retirement

I am not sure this question is easy to answer but here goes. I retired in 2019 (LEO RET/Special Provisions) and immediately took a job making $80000+ for the next year until I was laid off due to Covid. I have been unemployed since October 2020 and have received my pension and have taken money […]

Ep #27: TSP and Social Security

TSP and Social Security

Are you wondering what to do about your social security or how to go about taking money from your TSP? If so, this episode is for you! Today, Micah and Tammy chat about how to balance social security and TSP so you get the most benefit. You’ll also learn what things you need to be […]

Sick and Annual Leave at Retirement

Sick and Annual Leave at Retirement

“Hi Micah and Tammy, I’m a Federal employee with 30 years in, and 5 years out from retirement. Can you explain how unused Sick and Annual leave are handled at retirement? I understand that unused SL balances can increase your annuity but I don’t understand the formulas. Thank you.” -Cheryl Annual Leave Let’s start with […]

Before You Cancel FEGLI

FEGLI

I researched the cost of life insurance and purchased a 20 year fixed plan that costs less than half what FEGLI will for me starting next year. I am 54 and FEGLI premiums jump (60% more?!) at age 55 and even more at age 60 (more than double!). Before I cancel the Option B FEGLI […]

Ep #26: What’s The Best Distribution Rate From Your TSP?

You’ve worked your whole life, now you’re ready to retire. But do you know how to maximize your benefits and set yourself up for retirement success? In this episode, we’re talking all about the Thrift Savings Plan and how to find that sweet spot to maintain a nice retirement lifestyle and your savings at the […]

Full vs Partial FERS Spousal Survivor Annuity

FERS Spousal Survivor Annuity

Hello Tammy and Micah, Great podcast! Learning a lot. About 5 years away for earliest retirement date. Question: let’s pretend money is NOT an issue for retirement due to FERS Pension, SSA, TSP, Investments but will need FEHB. For estate planning, do you have any thoughts on getting full spousal annuity 50% knowing that this […]

Ep #25: Why Life Events Matter

It’s the little details that can really trip you up, so Tammy and Micah share specific areas and situations they’ve noticed clients having trouble with and how you can avoid those issues. As the title hints, life events are a key area where many people do not do enough planning or strategy and in the […]

Using Roth TSP vs Traditional TSP while delaying Social Security

delaying Social Security

“I am 59 and planning to retire a year from now. My wife will retire at the same time (but at age 61, not a federal employee). We are planning to take her Soc Sec at age 62 and wait with mine till age 70. I have about 2/3 of my TSP in traditional and […]

Ep #24: How Much Life Insurance Do You Need?

With so many misconceptions around life insurance, it can be hard to determine the appropriate plan or amount for your needs. Unfortunately, there are some people in the financial business that believe it is a one size fits all service, however that is not the case. So where do you begin? In this episode, Micah […]

Preparing for Retirement under FERS

Preparing for Retirement under FERS

“Forgetting for the moment the part my personal $$ contributions were over the years….Will the IRS tax my FERS ‘Unreduced Monthly Annuity’ (UMA) or my UMA minus the Survivor Benefit Cost Reduction (SBCR)?Example: Assume UMA is 3000/month and SBCR is 300/month.Will the IRS withhold taxes based on 3000 or 2700?Thanks.” How will your pension be […]

Ep #23: Best Day to Retire

Best Day to Retire

With more retirement planning and with every year that retirement gets closer, the question is often asked, “What day is best to retire?” Tammy and Micah sit down to set the record straight when it comes to choosing a retirement date. They share how people tend to focus on maximizing benefits and where else you […]

Ep #22: Estate Planning and TSP Quirks

Do you have a plan put in place for who will inherit your assets after your demise? Many people are solely focused on increasing their assets whilst they are still alive, but often forget about securing who it will all go to when they are gone. In this episode, Micah and Tammy will be discussing […]

Complications with FEHB Coverage In Retirement

FEHB in retirement

If my spouse retired from Federal Service under CSRS and waived the spousal benefits but I am under his FEHB insurance is there any way for me to keep FEHB insurance if he passes away before me or we get divorced? I have listened to several of your podcasts and have heard stated that all […]

Ep #21: The Years After You Retire

Ensuring you have met your savings goals during your retirement planning is incredibly important, but it is just one of many things to consider. Unfortunately, retirement planning doesn’t stop when you retire, and it’s important to make sure you’ll be able to maintain your goals once you have retired. So in this episode, Micah and […]

FERS Retirement and Sick Leave

FERS Sick leave

“What happens to your sick leave if you are 63 years and have 28 years of federal service. Thanks for taking this question.” FERS Sick Leave Rules As a Federal Employee under FERS, you earn 4 hours of sick leave each pay period, every two weeks.  Your sick leave accrues and you can save it […]

FEHB and Medicare

FEHB and Medicare

“As a FERS retiree, am I required to sign up for Medicare at age 65; or can I opt out of Medicare Part B? Also, regarding my spouse, who has never been a federal employee but covered under my FEHB; what options (if any) does she have regarding Medicare part B?” FEHB and Medicare As […]

Ep #19: Phase of Retirement – 5 Years Out From Retirement

5 years from retirement

When we consider retirement, most of us think about this chapter in our lives as a positive time—and it can be, as long as we are fully prepared. So today, Micah and Tammy will be discussing all the measurements to put in place as you approach your retirement. They will be sharing courses you can […]

Social Security Strategies

FERS Social Security

“I have two questions about social security. I am 61 and my wife is 58. Let’s say my wife files for social security at age 62 and I wait until 70, if I predecease her before I have filed, and after she has started receiving her own benefits, would she be eligible for any spousal […]

Ep #18: Phase of Retirement – 10 Years Out From Retirement

When you are planning for your retirement, there are a lot of different areas you need to be aware of financially, and it can be an overwhelming amount of information to take in at once. So today, Tammy and Micah will be discussing the key factors to keep an eye on when you are 5-10 […]

FERS Early Retirement

FERS Early Retirement

My understanding is that if I take immediate retirement at MRA before 62, then I will: 1) get the FERS Supplement to my FERS annuity; and 2) but I will not get COLAs until I turn 62. Assuming this is correct, does that mean that I would permanently loose those COLAs? For example, if I […]

Ep #17: Taxes

Tax season is upon us, and for many, it is a scary time. With so many opinions floating around, it is hard to decipher between what is fact and what is simply a misconception. So today Tammy and Micah will be discussing common mistakes made when it comes to taxes and how to avoid them […]

Military Buy Back

Military Buy Back

“I have almost 5 years of Federal Service (FERS—approximately 15 days short). I have over 7 years of honorable active duty service. I retired from the Air Force Reserves with 23 years of service and will receive a retirement in 5 years. Question: can I still buy these 7 years of active duty years towards […]

Ep #16: What’s My Pension Worth?

federal employee pension

Does it make sense to stay a full thirty years in the federal government just to receive a better pension? Ten years (or more) before retirement, many employees begin to question whether it is worth remaining in their positions or if they should try something new. In this episode, Micah and Tammy discuss what your […]

Health Insurance Options in Retirement

health insurance in retirement

“I will be 65 years old next July and plan on retiring in Dec. 2022. I am covered under my husband’s health plan and also have FEHB self only. I also have Tricare. I feel maybe it is too much. Should I suspend my FEHB and just use Kaiser and Tricare? How will it work […]

“Where does my retirement income come from?”

retirement income

“I am 65, born in (November) 1955. I’ve only been a Federal Civilian Employee for 5yrs this November. I’ve also withdrawn $7,000.00 last year for emergency reasons. Now if I decide to retire this year or by the next 6 months into next year, how must and from where will my retirement income comes from? […]

Ep #15: New Year’s Habits

There is so much that we can’t control, and it’s easy to focus on those things and feel helpless to stop them. But in this episode, we’re flipping the narrative and focusing on the things we can control in our personal lives that can really make an impact on your retirement plan. Listen in to […]

Getting Nervous About TSP Losses?

TSP Losses

“Micah, love your videos. I’m retired (58 years old) from USPS. Very aggressive in TSP. 40% C, 40% S, and 20% I- I’m down close to 30% from all time high of $675K to 500K now. I’m getting very nervous. Any advice is greatly appreciated. Thanks, Jerrold” Market Volatility in Your TSP When You’re Retired […]

Ep #14: With Special Guest Mary Beth Franklin

Social Security Mary Beth Franklin

Mary Beth Franklin is our go-to professional for all things Social Security benefits. With over 40 years as a financial journalist and a CFP® designation, she has a wealth of knowledge and understands Social Security from the financial planning point of view. She is a contributing editor at InvestmentNews, an author, and an in-demand speaker […]

Does MRA+10 Qualify for FEHB?

MRA+10

“Is there a reason why you did not include the MRA+10 in the group below when speaking about qualifying for FEHB? I thought that this group would also be qualified for health benefits if you held FEHB for 5 years. Thanks, Tracy” Your Best Benefit as a Federal Employee Your Federal Employee Health Benefits (FEHB) […]

Ep #13: Mailbag

What kind of protection does the spouse of a federal employee have? Does everyone need insurance—and how is it beneficial? In this episode, Tammy and Micah answer frequently asked questions sent in by listeners, addressing everything from survivor benefits to your high-3. Listen in as they explain how to calculate your highest paying years, as […]

Live Off TSP while postponing Social Security?

Postpone Social Security

“Next May I can retire with 35 years at the age of 62. I was considering working 10 more months to retire at 63 and get more Social Security. The physical aspects of the job are the disadvantages of staying. Is it a good idea to live off of TSP and postpone getting Social Security […]

Ep #12: Finding the Right Planner

financial planner

Today Micah’s sister, Jamie Shilanski, joins the show to talk about financial planning and the inconsistent advice that many people are hearing regarding their finances. Jamie is also an advisor based in Alaska, and she has great insight and stories to share that will help you find the appropriate advisor and make an effective plan. Listen […]

TSP: Volatile Markets When You Are Planning for Retirement

planning for retirement

“I retired on Dec 31 2019.  Don’t you think I should pull all my money out of the TSP and put it in a high interest saving? Thank You, Alfreda” If the Thrift Savings Plan (TSP) had a “panic” button, it would be labeled “G Fund.” When the markets are volatile, the safety of the […]

Ep #11: Should I Stay or Should I Go?

retirement steps

When is the right time to retire? And what are the different options as a federal employee? While everyone wants to retire early, the fact is the “perfect time” is different for everyone. So in this episode, Micah and Tammy share how to prepare yourself, as well as your spouse, for your retirement and the […]

Steps to move from TSP to IRA to Roth IRA

steps to move from tsp to ira to roth ira

“I am considering transferring/$10,000 from my TSP to my Roth account in Fidelity. Your presentation mentioned TSP to IRA to Roth. What’s the correct steps for my financial advisor? What’s the difference between a roll and transfer?” Not all words are synonymous! There is a difference between rolling over and transferring your Thrift Savings […]

Ep #10: FEHB and Medicare in Open Season

We’re on the brink of another open season, so today Micah and Tammy are sharing the information you need to know about this upcoming season. You will learn one of the best benefits you have, how to choose a plan that allows you to take full advantage of your retirement, and what to expect in […]