#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? If you want to know […]
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 […]
#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 […]
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. 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 to […]
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 […]
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 […]
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 […]
