Your Turn with Mike Causey - Federal News Network | Hubbard Radio

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The art of leaving a legible financial footprint Sep 30, 2020

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Most people know they are worth more dead than alive. But many — including those who survive them — don’t know how much more. Or where the treasure (if any) is buried. And how you want it to be handled. Many federal workers and retirees, especially if they own property or have TSP accounts and life insurance, are easily worth a million dollars or more. Deciding who gets it (Uncle Sam, the state, your children) isn’t easy but it isn’t rocket science either. And you doing it now can save lots of grief, ill will and money down the road. Might help keep an otherwise tight-knit family from falling apart. So we asked estate and tax attorney Tom O’Rourke what he tells his clients. Most of them are current or former feds.

Shouting ‘fire’ — or WEP or GPO — in a crowded theater Sep 23, 2020

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Many, if not most people, are familiar with the phrase “shouting fire in a crowded theater” — even if they might have trouble recalling who first said it (Justice Oliver Wendell Holms in a 1919 case before the Supreme Court) — and why. The modern day equivalent of the panic-starter is to bring up the subject of the Government Pension Offset or Windfall Elimination Provision in any venue — theater, retirement community, house of worship — with a large number of retired federal or state government employees, or their spouses. The initials may not mean much, if anything, to you, but ask your federal parents or grandparents, then watch their blood pressure go off the charts. So what’s the big deal? Tammy Flanagan will be my guest today on Your Turn. Meantime, for background, each has agreed to share answers and observations from someone seeking help and clarification from Social Security about WEP and GOP issues.

Trump vs. Biden and the impact on your TSP Sep 16, 2020

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Some savvy investors say the President has a major impact on the economy and the stock market. Others say events — not whoever is elected POTUS in November — will determine whether your Thrift Savings Plan languishes or takes off like a rocket over the next four years. Bottom line: What do you think? Is it all important that your candidate win? Or does it really matter when it comes to building and growing a nest egg that, depending on the breaks, may supply anywhere from one third to one half of all the spending money you have in your golden years. Will they be 24 carat, or something less? We asked D.C. area financial planner Arthur Stein for his thoughts on the importance of the November election on the economy in general — and your TSP in particular. Stein has a wide background in economics. He’s also a long-time financial advisor whose clients include several TSP millionaires.

Life after COVID: Is there a promotion on the horizon? Aug 26, 2020

Show notes

Kathryn Troutman is a job-hunter/promotion finder coach and author of more than 30 books on getting a job or promotion. And she is the founder of The Resume Place. Kathryn talks about navigating your way OUT of your current federal job into a new agency and position. And why it's a great time to get out of the private sector and into the federal government, which is hiring!

The end is near! So, what’s for lunch? Aug 19, 2020

Show notes

A lot of things could have happened this year that are off your radar because you are still adjusting to the many changes the pandemic has brought to our everyday lives. So we’ve called on Washington, D.C.-area attorney Tom O’Rourke for a tuneup. Tom is an estate-tax attorney, a former fed with the IRS and most of his clients are current or former civil servants.

Your personal pandemic checklist Aug 12, 2020

Show notes

Six months into an historically-lethal pandemic that potentially threatens everybody on the planet is probably a pretty good time to update or begin your personal financial checklist —In case you unexpectedly check out. Many people, and especially long-time career federal civil servants are almost certainly worth more dead than alive, and by a lot more than they think. Especially true if you can leave a lifetime indexed-to-inflation survivor annuity, subsidized lifetime health insurance coverage, life insurance and more. But how much more? Do you have a clue? Can you think of a better time for a personal tune-up? Benefits expert Tammy Flanagan has spent most of her adult life, in addition to raising sons, probing the mysteries of the federal benefit package, from cradle to grave and beyond. But it’s worth keeping on top of because it is one of the best, anywhere, for you now and for your survivors down the road. She joins us on Your Turn with Mike Causey today to discuss.

TSP stock funds: Wow and more wow! Jul 22, 2020

Show notes

After the long-anticipated crash of the record 11-year bull market, a lot of 401(k) investors worried about the hit their stock-fund investments had taken. Others who learned their lessons from the Great Recession of 2008-2009 thought the downturn might be the equivalent of a fire sale. In the case of federal and postal investors, that meant an opportunity to buy more shares of the stock-indexed C, S and I funds. Turns out they were right — that’s what most of the 45,219 (as of June 30) millionaires did. So is it happening again? Arthur S. Stein, a Washington area financial planner, whose client base includes several self-made TSP millionaires, said it would be relatively easy to figure out what ended the bull market, but not so easy figuring out its quick (so far) recovery. He was my guest today on our Your Turn radio show.

Pandemic problem: Retire, carry on or simply survive? Jul 08, 2020

Show notes

Back in the day, before you-know-what, there were best days to retire scattered throughout the years. There are times in December and January when you can get higher payments for your unused annual leave, and lower your taxes at the same time. Or times mid-year when it pays, literally, to retire then and not the day before or after. Also there are things you can do right now, whether you’re 25 years old or 80 years old, to make retirement better. So who knows best? We’ve got the answer: Tammy Flanagan, federal benefits expert to the stars (and you too) and she’s my guest today on our Your Turn radio show. Tammy discovered the best-day-to retire concept. She worked for the FBI and her husband is a Secret Service retiree, so she knows the law enforcement side of retirement as well as the maze that regular Civil Service Retirement System and FERS employees must go through.

When ‘no plan’ is your plan Jul 01, 2020

Show notes

The problem with estate plans is that two of every three people who need one and should have one don’t. It’s a grim but timely reminder during a worldwide pandemic that seems, in a lot of places, to be getting worse not better. So we arranged to have Tom O’Rourke on our Your Turn radio show today. He’s a Vietnam veteran and former IRS attorney who now specializes in tax and estate planning. He’s based in the Washington, D.C., area and many if not most of his clients are or were feds. And while most are smart and successful, most don’t realize they are worth more than they think — and that most don’t know what they don’t know.

Teleworking then, now and tomorrow: Where do you fit in? Jun 24, 2020

Show notes

Today’s guest on our Your Turn radio show is Frank Takacs of Brother International. He works with federal agencies on the unique challenges teleworking brings to their operations and IT. Many experts say Uncle Sam, for whatever reason, has been lagging behind the private sector in taking advantage of teleworking. Reduced traffic, less expense at the office and increased, in some cases, productivity — there is also the downside of equipment failures and employees not getting together to exchange ideas and suggestions. A spokesman for the company said there have been success stories in government teleworking, including places like the CIA. We’ve been told it’s promoting the use of flexible work centers which have computers and printers that are available on a first-come-first serve basis. They are open 24/7, especially in the Washington, D.C. area. So where to do you and your agency fit into the brave new world of change imposed by the pandemic?

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