#87: Irreversible Mistakes After Death
Listen to the Full Episode: Don’t let irreversible mistakes catch you off guard. Empower yourself with the knowledge you need to plan for a secure future. Let’s break down timelines, discuss essential documents like advanced healthcare directives, durable powers of attorney, and wills, and uncover common pitfalls to avoid. Join Micah and Christian as they […]
How not to get permanently stuck with Minimum Required Distributions
“If I retire after age 62, and supplement my monthly FERS pension by making small withdrawals from my Traditional TSP (assume $2,000/ month), would IRS rules determine that I was now in “distribution status,” and permanently stuck with Minimum Required Distributions every year?” – Victor. https://youtu.be/s0giZhvVqC0 What are RMDs (Required, Minimum Distributions) Remember all those […]
Follow Up Friday – Thrift Savings Plan with Kim Weaver
Listen to the Full Episode: Learn to make informed retirement decisions and secure your financial future with valuable information in regard to your TSP, covered by Sierra Steele. Enjoy the show? Use the Links Below to Subscribe:
#86: Thrift Savings Plan with Kim Weaver
Listen to the Full Episode: Whether you’re just starting your career, planning for retirement, or already in retirement, or someone looking to understand TSP better, this enlightening episode with our special guest, Kim Weaver, will help you dive deep into the world of Thrift Savings Plan. Make informed retirement decisions and secure your financial future […]
The Importance of Filling Out Beneficiary Designation Forms
“Love your podcast! I am a Federal retiree and fine with Thrift Savings Plan (TSP) and Federal Employees Group Life Insurance (FEGLI) standard order of precedence beneficiary assignments being spouse, then children in equal shares. I understand this order of precedence is followed when no beneficiary forms are on file. I have not submitted any […]
Follow Up Friday – TSP Spillover and funding
Listen to the Full Episode: Learn why the TSP is such a phenomenal tool for your retirement and find out what you should know about your TSP funding, covered by Sierra Steele. Enjoy the show? Use the Links Below to Subscribe:
#85: TSP Spillover and funding
Listen to the Full Episode: In this episode, host Micah Shilanski and a special guest – JT Ferrin, delve into explaining the meaning of TSP Spillover and the advantageous role of Health Savings Accounts (HSAs) in retirement savings. The TSP Spillover is an important concept that might be unfamiliar to many federal employees. Micah and […]
What if you become a survivor before your annuity kicks in?
“My husband and I both had careers with the National Park Service. He carried the family insurance for us. He retired in 2021 and did not select me for survivor benefits since I also worked for the federal government. I now want to resign and defer or postpone my retirement until I meet the minimum […]
Follow Up Friday – Retirement Rules living abroad
Listen to the Full Episode: Learn about your options for living abroad in retirement and find out everything you need to keep your benefits, covered by Sierra Steele. Enjoy the show? Use the Links Below to Subscribe:
#84: Retirement Rules living abroad
Listen to the Full Episode: Do you wonder about your options for living abroad in retirement? Are you ready for change but need to know everything you need to keep your benefits? In this podcast episode, Joe Curry, CFPⓇ, CHS, joins Micah to delve into the intricate details of retiring abroad. The episode serves as […]
FERS Eligibility
“I am currently age 32 (a bit away from retirement) and I have been with USPS for 6.5 years now. It says you are fully vested in FERS after 10 years, but I don’t think I will retire with the USPS. If I were to wait for the 10 years before separating from USPS, would […]
Follow Up Friday – Dual Feds FEHB Rules
Listen to the Full Episode: Learn why the Federal Employee Health Benefits (FEHB) is such an excellent benefit for federal employees, allowing them to keep health insurance into retirement, covered by Sierra Steele. Enjoy the show? Use the Links Below to Subscribe:
#83: Dual Feds FEHB Rules
Listen to the Full Episode: In this episode of Plan Your Federal Retirement Podcast, Micah and Jamie discuss the Federal Employee Health Benefits (FEHB) and how it is an excellent benefit for federal employees. But most importantly, they dive into the rules for dual Feds, which refers to a married couple where both are federal […]
Moving from TSP to a Roth
“I’m about 10 years out from retirement. I’m wanting to stop putting money into the traditional tsp and start a Roth. Is that doable?” – Robin. https://youtu.be/NrRjwRxGuUw Robin, like many federal employees we visit throughout the year, is about 10 years away from wanting to retire under the Federal Employee Retirement System (FERS). Robin is […]
Follow Up Friday – HR – Are they RIGHT or WRONG?
Listen to the Full Episode: Learn what the importance is of understanding the rules and regulations for federal employee retirement, covered by Sierra Steele. Enjoy the show? Use the Links Below to Subscribe:
#82: HR – Are they RIGHT or WRONG?
Listen to the Full Episode: Are you a federal employee planning for retirement? Do you know that negative outcomes can be prevented if only you know how to find the correct information and understand all the pieces of the Federal Retirement puzzle? But… what if the information you get from HR or OPM is different […]
What happens to your Unused Sick Leave in retirement?
“When determining creditable service for determining what my FERS annuity will be, can unused sick leave be used to get creditable service time from 20 years of service? For example, if I work 19.5 years and have 6 months of work unused sick leave, then can I insist that my annuity be 20 years so […]
Follow Up Friday – What To Have In Savings?
Listen to the Full Episode: How do you know what to have in savings? Learn all about great tips on how to organize your savings and what your goal should be, covered by Sierra Steele. Enjoy the show? Use the Links Below to Subscribe:
#81: What To Have In Savings?
Listen to the Full Episode: How many months’ worth of living expenses do you need to have saved up and why? Do you have emergency (911 account) reserves? These questions bother a lot of people. But, the fundamental question for each of us is: What should we have in savings? Tune in to today’s podcast, […]
FERS Supplement and Earned Income
“Micah, I have a question about the earnings test for FERS Supplement. I’m a title 38 physician, planning to retire with age 60 + 20 years of service and lump sum annual leave payment of 685 hours. I believe the lump sum annual leave payout is considered earned income, so I think my first year’s […]
Follow Up Friday – FERS Supplement Details
Listen to the Full Episode: Does everybody have the right to a FERS Supplement? Learn all about who will receive it and what you need to do and watch out for, covered by Sierra Steele. Enjoy the show? Use the Links Below to Subscribe:
#80: FERS Supplement Details
Listen to the Full Episode: The FERS supplement is a great benefit of your FERS retirement package. This supplement is available to federal employees who retire before age 62 and is a substitute for social security. The amount of the supplement is calculated using the same formula as Social Security, but it is unique to […]
Advantages and Disadvantages of filing out beneficiary designation forms with TSP and FEGLI
“Love your podcast! I am a Federal retiree and fine with Thrift Savings Plan (TSP) and Federal Employees Group Life Insurance (FEGLI) standard order of precedence beneficiary assignments being spouse, then children in equal shares. I understand this order of precedence is followed when no beneficiary forms are on file. I have not submitted any […]
Follow Up Friday – 7 Things You Can NOT Do in TSP in Retirement
Listen to the Full Episode: Learn what’s possible and what’s not when it comes to your TSP in retirement. Here are the 7 things you can not do in TSP in retirement, covered by Sierra Steele. Enjoy the show? Use the Links Below to Subscribe:
Ep #79: 7 Things You Can NOT Do in TSP in Retirement
Listen to the Full Episode: Retirement can be challenging, especially when it comes to managing your finances. One of the biggest mistakes you can make is assuming you can do anything you want with your thrift savings plan (TSP) after retirement. As a federal employee, you have phenomenal benefits, but as with any other tool, […]
FERS and Social Security
“I am turning 62 and I am drawing disability FERS. Can I draw social security and FERS together? And will my FERS change when I turn 62?” – Douglas. https://youtu.be/oo_HE8Lm3-Q Your ability to earn an income is your greatest asset as an employee. When that ability is taken away from an injury, it becomes critical […]
Follow Up Friday – Transitioning to Retirement
Listen to the Full Episode: The importance of knowing what lies ahead, what to expect and what steps to take when transitioning to retirement, covered by Sierra Steele. Enjoy the show? Use the Links Below to Subscribe:
Ep #78: Transitioning to Retirement
Listen to the Full Episode: You are getting closer to retirement, but specific tasks must be completed to enjoy it thoroughly. You’ll need to take care of all paperwork, or at least have copies of everything, a few months before retirement and a few months after the process starts, and make sure that all questions […]
ROTH TSP Contributions
“I watched the very helpful video on ROTH IRA conversions. I will be retiring by the end of 2022 and I do not have any funds in the Roth TSP, but all funds have been in the traditional TSP. In hindsight, that was probably not a good idea. I am now wondering if there is […]
Ep #77: Withdrawals in Retirement
Listen to the Full Episode: You’ve been working and saving and planning for your retirement. And when you retire, you go through a psychological shift from accumulation to distribution. Here lies the importance of understanding your federal benefits and the best way to use them! The TSP is a phenomenal tool; your federal benefits, your […]
Social Security and Medicare In retirement
“I retired from PHMSA/USDOT January 2021 and I just received my first W2 form from the Department of Interior and It says that I paid money into SSA and also Medicare. I did not know that I still had to pay into Social Security after I retired. Can you please verify that this is correct […]
Follow Up Friday – Streams of Income
Listen to the Full Episode: The importance of knowing the different streams of income and how to use them, covered by Victoria Kellerman. Enjoy the show? Use the Links Below to Subscribe:
Ep #76: Streams of Income
Listen to the Full Episode: Cashflow is the heartbeat of retirement, so you have to know the details of your income streams, the theory, and the reality behind some of your incomes. This way – you can work on your plan. The more we plan and apply, the easier and the more successful the retirement […]
Follow Up Friday – The Importance of Building a Financial Plan
Listen to the Full Episode: The importance of making a financial plan for a great retirement, covered by Victoria Kellerman. Enjoy the show? Use the Links Below to Subscribe:
Ep #75: The Importance of Building a Financial Plan
Listen to the Full Episode: Setting goals and mapping a strategy – these are the ground rules for taking the action in your hands! No, you don’t have to be precise or super accurate – we know things change, but navigating towards a point helps you reach the correct destination when sailing. Join today’s discussion […]
FERS Postponed Retirement
“Greetings, I think I have an understanding of FERS postponed retirement, but there is one point that I have been unable resolve. I am by all measures eligible to retire now – I am 61 years old with over 42 years of service (I bought back 21 years of military time). My question – If […]
Ep #74: Choosing the best Retirement Plan
Listen to the Full Episode: One of the most essential and fundamental questions is choosing the right federal retirement plan! Do you know how much you should save for your retirement? Are you being realistic with your intentions and expectations? Do you have a retirement income? And what if there is a gap… is there […]
FERS Supplement and Earnings Limitations
“August 2023 I will turn 62 and stop receiving the OPM Social security . After August for the remainder of 2023 will I still be subject to the earnings limitation? I don’t plan to start drawing actual social security. ” – Ed. https://youtu.be/Ic1zkR3NuAg Is the FERS Supplement Subject to the Social Security Earnings Test? Yes, […]
Follow Up Friday – Costly Mistakes
Listen to the Full Episode: What if you erroneously select an annuity from the TSP instead of a withdrawal from it, can you reverse that option? Enjoy the show? Use the Links Below to Subscribe:
Ep #73: Costly Mistakes
Listen to the Full Episode: Net vs. Gross income. Which one hits the door of your bank account? Changes regarding insurance? Life insurance, health insurance… Any different kinds of SCD and any tips on taxes? Do you know all these rules and details you should consider while planning your retirement? We hope you get the […]
Withdrawing from Your TSP
“Hello, I have 31k in my TSP. Is it possible to withdraw the total amount at one time? ” – Bill. https://youtu.be/ueICsrk2rtI Demystifying TSP Withdrawals TSP withdrawals are a crucial aspect of managing your retirement savings. It’s important to comprehend the various withdrawal options and the implications they have on your financial landscape. Here, we […]
Ep #72: Criminal Issues with Health Insurance and Survival Benefits
Listen to the Full Episode: Accidents happen, but some come with severe consequences. For example, when covering someone with your HSA that you shouldn’t cover, you can face severe penalties! That is why in today’s episode, Tammy and Micah cover some fraudulent issues that can come up with health insurance and survivor benefits. Listen in […]
FEHB in Retirement
“Hello , I worked for 11 years as a federal employee until age 57, now I am 62 , can I still get fehb, ie I am not enrolled in fehb since age 57 .” – Khalid. https://youtu.be/Bycv6clqwrQ Securing Federal Employee’s Health Benefits (FEHB) in Retirement: A Comprehensive Guide At Plan Your Federal Retirement (PYFR), […]
Follow Up Friday – Secure Act 2.0 with Steven Jarvis
Listen to the Full Episode: Changes the Secure 2.0 brings and what do they mean for the retirees and federal employees, covered by Victoria Kellerman. Enjoy the show? Use the Links Below to Subscribe:
Ep #71: Secure Act 2.0 with Steven Jarvis
Listen to the Full Episode: Changes are happening, and questions have been raised! That is why we have a special guest in today’s episode – Steven Jarvis, CPA. Micah and Steven will answer the most common question out there these days and clear out all of your confusion. Join us and find out what is […]
Planning to Retire with COLA Adjustments
“When should I retire to take advantage of the planned big 2023 COLA increase? If I retire in December, will my pension benefits be increased in January 2023, or my first pension check must be in 2022 to take advantage of the COLA adjustment?” – Konstantin. https://youtu.be/SW8qEwkxjuE There are always two sides to a question […]
Ep #70: Changes in Planning Over The Years, Social Security
Listen to the Full Episode: The benefits in retirement that Federal Employees have are based on three things: Pension Social Security TSP To avoid misconceptions about one of the most essential things in your retirement planning – Social Security – we have Floyd Shilanski and his years of experience. Find out the different strategies you […]
Choosing between Deferred Retirement and Postponed Retirement
“I plan to retire at age 57 with an MRA + 10 option. I don’t plan on taking my FERS retirement out until later age 61 or 62 depending. I have the basic life insurance and single. What is the best option to defer retirement or postpone retirement?” – Floyd. https://youtu.be/fmvas8zxa_I As a federal employee, […]
Ep #69: Sick Leave for Retirement
Listen to the Full Episode: It is crucial to be hyper-intentional when it comes to your retirement! How big of a change can your sick leave make? And how important is this subject when choosing the best day for your retirement? In this episode, we detail some tweaks you can make to your retirement plan […]
Ep #68: Social Security Increase and Cash Flow
Listen to the Full Episode: Whether you are 30, 50, or 70, a subject that has a hold on you is how to improve your financial situation. How much are you saving, and how can you save more? How can you organize your income better? It is crucial to ensure you are not just […]