Stay ConnectedFinancial Planner and benefits professional discuss the intricacies of
the Federal Employee Retirement System. This real world experience allows these benefits professionals to address questions they are most frequently asked by Feds as well as Human Resource departments on how benefits work.
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It's crucial to evaluate your TSP decisions as you approach retirement. Understanding the various benefits associated with your TSP can significantly impact your financial future.
In this podcast episode, Micah and Tammy delve into important topics regarding TSP withdrawals, available distribution options, and the associated tax implications. They provide insights on how elements such as timing, cash flow planning, and recent regulatory changes can influence your overall retirement strategy.
This conversation offers valuable information to help you prepare for retirement effectively—don't miss out, listen now!
Good morning, my name is Alberto. I am a Mail Handler for the Postal Service with 40 years of service. Currently, I can carry over 520 hours of annual leave into 2024. I am planning to retire in December 2025. If I don't use any annual leave in 2025, I will accumulate an additional 208 hours. My big question is: will the Postal Service cut me a check for 520 hours or 728 hours? I'm hearing conflicting answers to this question. - Alberto
Understanding your TSP withdrawal options is essential for a successful retirement.
In this podcast episode, Micah and Christian break down the three financial phases: accumulation, preservation, and distribution, highlighting the critical decisions federal employees need to make when withdrawing from the TSP.
Learn about the different withdrawal options, including lump sums, partial withdrawals, TSP annuities, and transfers to IRAs. Discover how tax planning, required minimum distributions (RMDs), and timing impact your financial future. They also share real-life examples of costly mistakes and how to avoid them.
Tune in to ensure you make informed decisions about your TSP and set yourself up for long-term retirement success.
How prepared are you if you no longer work for the Federal Government?
Maybe you accepted the Trump Administration's "deferred resignation" package; maybe your agency did a Voluntary Early Retirement (authorized as a VERA); maybe there was a reduction in force of mass layoffs? Maybe you are one of the many federal employees that we have been chatting with who said, you know what, "It's been real. Sometimes it has been fun. It's no longer real fun." and you just want to leave federal service.
Are you ready to leave federal service? If so, you may want your FERS Go Bag Packed and ready.
When planning for your federal retirement, one of the most important steps is to pack your "FERS Go Bag" - a metaphorical bag of financial and practical preparations to ensure a smooth transition when you leave federal services or, as smooth as things are going to be right now.
As financial advisors who have helped thousands of federal employees learn about their benefits (no matter where they are at in their careers), here is our list of the Top 5 Items you need to have verified and have before you leave Federal Service.
Estate planning involves more than just creating a will; it's about ensuring financial security, protecting your loved ones, and avoiding common mistakes that may lead to unintended consequences.
In this podcast episode, Micah and Christian discuss essential estate planning topics, including the necessary documents, the dangers of outdated plans, and why having a power of attorney is not sufficient.
You'll learn about the top three estate planning mistakes made by federal employees, how to properly distribute and update your documents, and why neglecting to review your plan could cost your family thousands in taxes.
Don't leave your financial future to chance—tune in now to learn how to take control of your estate plan.
Hello, at age 57 years and two months, I separated from federal service for a civilian job after serving 5.3 years and buying back 17.2 years of military time. I currently have a good civilian job and plan to continue working until at least age 62. (I will turn 59 in March 2025.) My question is: should I apply for a postponed retirement at age 60 so I qualify for FEHB, or should I wait until age 62 to receive a higher percentage of my high-3? Another consideration is that I will be eligible for TRICARE at age 60. Thank you! - Donald
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