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 […]
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 […]
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 […]
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. Is the FERS Supplement Subject to the Social Security Earnings Test? Yes, the […]
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. 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 break […]