Florida Retirement System Podcast

If you're in the Florida Retirement System DROP Program and you're thinking about rolling over your FRS DROP money into FRS Investment Plan with Ernst & Young, we recommend that you watch this video first to learn about the Pros and Cons of using the Florida Retirement System Investment Plan. To book an appointment with one of our advisors you can click here: https://calendly.com/andersfinancial/initial-d-r-o-p-frs-phone-consultation-youtubeVideo explaining the different types of annuities: https://youtu.be/_wuauuOYfow-------------------Visit our website and social media:https://frsdrop.com/https://andersretirement.com/https://www.facebook.com/andersretirementFRS/https://www.instagram.com/anders.retirementhttps://twitter.com/AndersFinancialhttps://www.linkedin.com/andersretirementWe are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. Securities and advisory services offered through Madison Avenue Securities, LLC. Member FINRA/SIPC and a Registered Investment Adviser. Anders Retirement & Investment Advisors and Madison Avenue Securities, LLC are not affiliated companies.Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. Anders Retirement & Investment Advisors is not affiliated with, or endorsed by, the Florida Retirement System or any other governmental entity.

It's everyone's favorite topic: estate planning. Okay, so likely not, however, it is something that does need to be discussed and be a part of your retirement plan. In this video, Don goes over the importance of having a will and trust and how to use them.https://trustandwill.comThere is no compensation exchanged between Don Anders and trustandwill.com. Anders and Anders Financial Group, MAS and trustandwill.com are not affiliated entities.We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. Securities and advisory services offered through Madison Avenue Securities, LLC. Member FINRA/SIPC and a Registered Investment Adviser. Anders Retirement & Investment Advisors and Madison Avenue Securities, LLC are not affiliated companies.Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. Anders Retirement & Investment Advisors is not affiliated with, or endorsed by, the Florida Retirement System or any other governmental entity.

Income, Safety, Growth...what's next? Some people want to keep their money available as cash; ready to use. This is called liquidity. As our video series continues, Don discusses the next need of money: liquidity.

Income, Safety, what's next? As part of this video series, Don covers the 5 Needs of Money. In this video, Don discusses the next need: Growth.

After covering Income in our previous video, Don goes through the next need of money: Safety.

The 5 needs of money, what are those? After many appointments and talking with several clients, Don has come up with what he believes are the 5 Needs of Money. In this video series, we will break down all 5 of those needs, starting with Income.

Having diversity within your retirement portfolio can be beneficial. Some retirements pay out dividends and do reinvestments. In this video, Don discusses the benefits of dividends within your accounts, and how it can work best for you.

Are you apart of the Florida Retirement System? Do you have a 403b retirement plan? Now is a great time to review your 403b. We invite you to schedule a complimentary phone consultation with one of our advisors to do an analysis of your plan and see if it compares to today's rates.

Should I stay or should I go? Like many FRS employees, that's a statement you've likely said before. You probably have worked for many years and as you are approaching your full retirement age, you might consider leaving early for a multitude of reasons. In this video, Don goes over the options you have whether you choose to exit early, or whether you choose to stay longer.

Dividend accounts, bond funds, cryptocurrency...which is the best option for you? Of course, each person and situation is unique, but in the third and final part of this video series, Don discusses the benefits of using market-based accounts within your portfolio.

As the stock market gets more volatile, many people seek lower-risk investments for their retirement money or FRS DROP Rollovers. In part two of this video series, Don discusses the types of Fixed Indexed accounts he likes that offer principal protection and still give a competitive return.Sources: https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/the-strategy-and-corporate-finance-blog/markets-will-be-markets-an-analysis-of-long-term-returns-from-the-s-and-p-500

As the stock market gets more volatile, many people seek lower-risk investments for their retirement money or FRS DROP Rollovers. In part one of this three-part video series, Don Discusses the 3 types of accounts he likes that offer principal protection and still give a competitive return.Sources: https://bondbloxxetf.com/bondbloxx-bl...https://www.bankrate.com/banking/savi...

If you're considering entering the FRS DROP Program, you can now defer entering for as long as you'd like and there is no deadline to enter into the Florida Retirement System DROP Program. In this episode, Don Anders discusses what options you have for deferring DROP, the pros and cons of staying longer, and who is eligible to do so. -------------------Visit our website and social media:https://frsdrop.com/https://andersretirement.com/https://www.facebook.com/andersretirementFRS/https://www.instagram.com/anders.retirementhttps://twitter.com/AndersFinancialhttps://www.linkedin.com/andersretirementWe are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. Securities and advisory services offered through Madison Avenue Securities, LLC. Member FINRA/SIPC and a Registered Investment Adviser. Anders Retirement & Investment Advisors and Madison Avenue Securities, LLC are not affiliated companies.Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. Anders Retirement & Investment Advisors is not affiliated with, or endorsed by, the Florida Retirement System or any other governmental entity.

In this episode, Don Anders gets into what a Bonus Annuity, or what some insurance salespeople call the DROP Bonus Program, really is and the pros and cons of these Bonus Annuities. -------------------Visit our website and social media:https://frsdrop.com/https://andersretirement.com/https://www.facebook.com/andersretirementFRS/https://www.instagram.com/anders.retirementhttps://twitter.com/AndersFinancialhttps://www.linkedin.com/andersretirementBonus annuities are not offered as a DROP option. Don Anders may be compensated for the sale of annuity products.We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. Securities and advisory services offered through Madison Avenue Securities, LLC. Member FINRA/SIPC and a Registered Investment Adviser. Anders Retirement & Investment Advisors and Madison Avenue Securities, LLC are not affiliated companies.Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. Anders Retirement & Investment Advisors is not affiliated with, or endorsed by, the Florida Retirement System or any other governmental entity.

To book an appointment with one of our advisors you can click here: https://calendly.com/andersfinancial/review-your-annuityIf you have an Annuity or CD that was purchased prior to 2022, you may want to sit down and review your options. With much higher interest rates, you may be able to transfer your old account into something that will pay you a higher rate. In this episode, Don Anders discusses the options you have to potentially take advantage of current interest rates. To book an appointment with one of our advisors you can click here: https://calendly.com/andersfinancial/review-your-annuity-------------------Visit our website and social media:https://frsdrop.com/https://andersretirement.com/https://www.facebook.com/andersretirementFRS/https://www.instagram.com/anders.retirementhttps://twitter.com/AndersFinancialhttps://www.linkedin.com/andersretirementWe are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. Securities and advisory services offered through Madison Avenue Securities, LLC. Member FINRA/SIPC and a Registered Investment Adviser. Anders Retirement & Investment Advisors and Madison Avenue Securities, LLC are not affiliated companies.Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. Anders Retirement & Investment Advisors is not affiliated with, or endorsed by, the Florida Retirement System or any other governmental entity.

Some participants of the Florida Retirement System see that their unused sick leave gets added to an account automatically. How does that work? What options do you have? In this episode, Don Anders discusses the intricacies and nuances of those special pay accounts and the options available to you as an employee.To book an appointment with one of our advisors you can click here: https://calendly.com/andersfinancial/special-pay-plan-------------------Visit our website and social media:https://frsdrop.com/https://andersretirement.com/https://www.facebook.com/andersretirementFRS/https://www.instagram.com/anders.retirementhttps://twitter.com/AndersFinancialhttps://www.linkedin.com/andersretirementWe are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. Securities and advisory services offered through Madison Avenue Securities, LLC. Member FINRA/SIPC and a Registered Investment Adviser. Anders Retirement & Investment Advisors and Madison Avenue Securities, LLC are not affiliated companies.Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. Anders Retirement & Investment Advisors is not affiliated with, or endorsed by, the Florida Retirement System or any other governmental entity.

Do you know your risk tolerance? Is your risk tolerance the same as when you started your investments? In this episode, Don Anders describes what risk is, and how your risk changes over time, and goes through a screen share utilizing software to show how you can analyze your risk tolerance today.Ready to take the Riskalyze quiz? Click here: https://pro.riskalyze.com/embed/c15979a5cfd5e5f0c87cTo book an appointment with one of our advisors you can click here: https://calendly.com/andersfinancial/risk-tolerance-------------------Visit our website and social media:https://frsdrop.com/https://andersretirement.com/https://www.facebook.com/andersretirementFRS/https://www.instagram.com/anders.retirementhttps://twitter.com/AndersFinancialhttps://www.linkedin.com/andersretirementWe are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. Securities and advisory services offered through Madison Avenue Securities, LLC. Member FINRA/SIPC and a Registered Investment Adviser. Anders Retirement & Investment Advisors and Madison Avenue Securities, LLC are not affiliated companies.Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. Anders Retirement & Investment Advisors is not affiliated with, or endorsed by, the Florida Retirement System or any other governmental entity.

When it comes to your retirement, you want to choose an advisor that works in your best interest and one that you can trust with your hard-earned money. In this video, Don Anders discusses what it is like working with Anders Retirement & Investment Advisors including fees, structure, and what options are available to you.

Cost of living adjustment, aka, COLA. Many Florida Retirement System participants have had questions regarding COLA in regards to SB 7024 being signed. In this video, Don Anders discusses how COLA works, the most recent changes, and changes you can expect after the newest bill was signed.

Investment Plan vs Pension Plan. Pension Plan vs Investment Plan. Which one is right for you? In this video, Don Anders discusses 6 reasons why you might select the investment plan, rather than the pension plan, as a Florida Retirement System participant. 

With the recent changes to the FRS, many have wondered how their retirement will be impacted by the new investment plan rate increases. In this video, Don Anders does a screen share utilizing Investor.Gov to illustrate how those rate increases change your retirement.

On June 5th, 2023, Florida Governor Ron DeSantis signed SB 7024, thus making changes to the Florida Retirement System. In this video, Don Anders is covering some of the frequently asked questions we have received to help clarify some of these changes and how they impact your retirement.

As of July 1st, 2023, Ron DeSantis signed a bill that make changes to the Florida Retirement System. In this video, Don Anders discusses the changes that impact the investment plan. For those who are a part of the investment plan, you will be seeing an increase in your plan (that's a benefit!) at no cost to you.

As of July 1st, 2023, Ron DeSantis signed a bill that make changes to the Florida Retirement System. In this video, Don Anders discusses the increase in the Health Insurance Subsidy with the dollar breakdown.

As of July 1st, 2023, Ron DeSantis signed a bill that changed the FRS in numerous ways. In this video, Don Anders discusses the impact it has on Special Risk Employees. If you're a Special Risk Employee, you now have new options when it comes to your retirement timetable.

As of July 1st, 2023, Ron DeSantis signed a bill that make changes to the Florida Retirement System. In this video, Don Anders discusses these changes and how they could potentially impact your retirement.

Don Anders discusses investing your Florida Retirement System DROP rollover directly into the stock market inside of your deferred comp 457, 403b, FRS Investment Plan, IRA, or other retirement vehicles. Don Discusses the concept of dollar cost averaging as a way to reduce your risk when investing lump sums of money. 

In part 4 of this video series, Don discusses the 4th Florida Retirement System pension option: Spousal Life Expectancy.-------------------Visit our website and social media:https://frsdrop.com/https://andersretirement.com/https://www.facebook.com/andersretirementFRS/https://www.instagram.com/anders.retirementhttps://twitter.com/AndersFinancialhttps://www.linkedin.com/andersretirement

In part 3 of this video series, Don discusses the 3rd Florida Retirement System pension option: "Pension Forever for Me & My Spouse"-------------------Visit our website and social media:https://frsdrop.com/https://andersretirement.com/https://www.facebook.com/andersretirementFRS/https://www.instagram.com/anders.retirementhttps://twitter.com/AndersFinancialhttps://www.linkedin.com/andersretirement

In part 2 of this video series, Don discusses the 2nd Florida Retirement System pension option: Ten Year Certain-------------------Visit our website and social media:https://frsdrop.com/https://andersretirement.com/https://www.facebook.com/andersretirementFRS/https://www.instagram.com/anders.retirementhttps://twitter.com/AndersFinancialhttps://www.linkedin.com/andersretirement

If you'd like to book a complimentary Medicare Consultation Click Here: https://calendly.com/ariamedicare/medicareconsultationDon Anders sits down with Todd Labellman to discuss Medicare and how it applies to FRS retirees. In this video, Don and Todd go into frequently asked questions about medicare from people exiting the FRS DROP Program and other Florida Retirement System retirees. They get into the different types of medicare plans, when the FRS participant can enroll in medicare, FRS Health Insurance Subsidy (FRS HIS) and much more. Note:Medicare Advantage Plans are insured or covered by a Medicare Advantage organization with a Medicare contract and/or a Medicare-approved Part D sponsor. Enrollment in the plan depends on the plan's contract renewal with Medicare. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options. Availability of benefits and plans varies by carrier and location. Deductibles, copays and coinsurance may apply. Plans purchased after initial enrollment period are subject to eligibility requirements. 

Don Anders discusses how to create your retirement plan before you exit the FRS DROP Program. If you're worried about income, risk, DROP Rollover, or anything else, this video will walk you through how our advisors at Anders Retirement & Investment Advisors put together retirement plans.If you'd like to speak with one of our advisors feel free to click this link to schedule your complimentary phone appointment: https://calendly.com/andersfinancial/wpresidents

Don Anders discusses some of his favorite fixed account options for 2023. As the stock market gets more volatile, many people are looking for lower-risk investments for their retirement money or FRS DROP Rollovers. Don Discusses the 3 types of accounts he likes that offer principal protection and still give a competitive return. If you'd like to book an appointment to discuss Fixed Account Options you can do so here:  https://calendly.com/andersfinancial/wpresidentshttps://www.bankrate.com/banking/cds/cd-rates/

If you're in the Florida Retirement System DROP Program, we'd like to invite you to our 2023 FRS DROP Webinar. At this live webinar, our CEO Don Anders will discuss what you need to know about exiting DROP in 2023. We will discuss the 3 DROP rollover options, retirement timeline, FRS forms, investment options, taxation, and much more. Click here to attend one of our upcoming 2023 FRS DROP Exit Webinars:https://event.webinarjam.com/register/696/w63q7col8 

Here is our 2022 DROP Rollover webinar:https://event.webinarjam.com/register/623/k375of22wHere is our DROP Exit Course for extensive information in short videos:https://andersretirement.thinkific.com/courses/florida-retirement-system-drop-guideHere is a link to our Calendly for a free consultation phone call on any questions you have:https://andersretirement.com/schedule-a-meeting/-------------------Visit our website and social media:https://frsdrop.com/https://andersretirement.com/https://www.facebook.com/andersretirementFRS/https://www.instagram.com/anders.retirementhttps://twitter.com/AndersFinancialhttps://www.linkedin.com/andersretirement

If you're in the Florida Retirement System DROP Program, we've created a course just for you. This course will walk you through entering DROP and exiting DROP Step by Step. While this course doesn't give you investment advice, it does give you information on making an informed decision with you investments and how to plan for retirement. So if you're in the FRS DROP program or thinking about entering it, this course is for you. Click here to sign up for free.

Don Anders discusses the recent Florida Senate Bill 84 that was passed on the Senate but then died on the House floor. To attend one of our upcoming Social Security webinars click HERE

In this episode, Don discusses one of the best features of the Florida Retirement System, the Deferred Retirement Option Program. FRS DROP is a great feature for Florida public employees where they let you pay your pension into a separate account while they continue to work!

Don talks about whether you should use all of your PTO, cash it out, or roll it into your deferred comp 457, TSA 403(b), BENCOR account, or other plan that is available to you at retirement. For more information, to register for one of our upcoming webinars, or to schedule an appointment, visit us at http://www.frsdrop.com

In addition to the Florida Pension options, you'll also have the option to contribute to an optional employer plan. We discuss the difference between 403(b), 457, and Roth. We also discuss some tricks you can use to help you save more and to pick the right investments for you. For more information, to register for one of our upcoming webinars, or to schedule an appointment, visit us at http://www.frsdrop.comShow transcription:Don Anders: Hello, this is Don Anders, and welcome to the Florida Retirement System Podcast. This is episode number two of 15. Here with us as the last episode we have Alex Dingman. How you're doing Alex?Alex Dingman: I am doing pretty well. You know, the firefighter gig just getting it underway, and I'm feeling pretty good about it.Don Anders: As you know, if you listened to episode one, Alex is our fictional new firefighter.Alex Dingman: Yes, and if you looked at me, you would tell that I'm not actually a firefighter.Don Anders: You won't be able to get the gas mask on with that beard.Alex Dingman: No, no, I don't think I'd work out.Don Anders: All right. So what we're going to get into now is you just got hired. We chose the investment plan or the pension plan last time, went over the options. Now let's talk about your optional retirement plan. If you're ... so firefighters, police officers, most state employees will have a 457. Teachers also usually have a 457, but they also usually have a 403(b) as well. A 403(b) is kind of the default for any kind of school board person. 457 is the default for anyone else in the state.Don Anders: So you're going to have a 457 available to you. There might be one option, there might be two, three, four different options that you can go with depending on your agency, who you're working with. So the big question that I'm guessing you have is, who should you contribute to?Alex Dingman: Yeah. I mean, I've heard of 401ks before now, but these are specific to public employees then?Don Anders: Yeah. And if you have ... so a 457, another name it's basically I like to call that a public employee's 401k. A 403(b) I like to call it a teacher or a school board or a nonprofit's 401k. There's a little differences, but when you're just getting started, the big thing that you want to look for, first off, if there's just one option, then you contribute to that option. Usually just retiring with pension, social security is not going to be enough, so you want to make sure you contribute with something. And if you can, I really want you to make sure that you contribute a percentage of your salary, not an actual dollar amount because if you contribute a percentage, let's say it's 6%, every time you get a raise, the amount that's going in is going to go up as well.Don Anders: If you can do that, please do it. If you can't, sometimes they just allow you to just contribute $50 or $100. This is actually how I got started, was signing people up for these types of plans. If you can just contribute $100, next time you get a raise, let's say it's $200 per paycheck, can take half of that, so take $100, send that to your retirement and then give yourself the other $100 raise because you want an extra cup of coffee a dayAlex Dingman: Well, and this goes back to the old saying of paying yourself first, right?Don Anders: Yeah.Alex Dingman: And that's the big reason why you do this, because you're the first one that gets money from your paycheck that you earned.Don Anders: Yeah. When you first start, you're not paid a lot as a state employee. That's not... You did not become a firefighter to get rich.Alex Dingman: No.Don Anders: If you did, that was a bad scheme. The reason that is it's passion or you did it because of job security or something like that. So you need to make sure you pay yourself so you can retire, b