Plan Your Federal Retirement Podcast

In this throwback episode Micah and Tammy will discuss what coverage do you have, and what coverage do you actually need? Everything you need to know about Medicare and Federal Employees Health Benefits, providing you with the answers you need to make informed decisions about your health coverage. Understand the importance of healthcare planning and find out the critical changes in healthcare plans, shedding light on the latest updates that directly impact you. Discover the inclusion of infertility benefits across all plans, enhanced maternal health coverage, and a focus on mental health and obesity. Explore the nuances of Medicare Parts A, B, C, and D, and determine whether you need both Medicare and FEHB.  Knowledge is power, and we're here to empower you on your healthcare journey.

The more confident you are that you won't be scammed, the more vulnerable you are. Scammed, Phished, Hacked, or Conned… isn't just for the vulnerable population anymore. It's happening with higher intensity levels than we have ever seen before. While there is never a “foolproof” method of avoiding being victimized, there are a few steps that you can take to safeguard yourself and your loved ones.  https://zurl.co/Ygobg

Is it possible to request a waiver to access the FERS Supplement two years early? My wife has 32/33 years but only turns 55 in August. Thanks. - Fred https://zurl.co/PcyUl

Is “buy and hold” really the best strategy for retirement investing? In this podcast episode, Micah and Christian explore why this popular approach might not hold up especially in retirement. They explain how inflation, market downturns, and income needs require a more flexible investment strategy. You'll learn to build a written plan, prepare for volatility, and make better decisions with your TSP and other investments. Tune in to gain practical insights to help you invest confidently throughout retirement. https://zurl.co/NczRn

Thank you for your wonderful and helpful videos on postponed retirement. The one question I have remaining is - I understand that if I retire at MRA and 10 that I cannot take my annuity without penalty until I am 62. Is there an option to continue with health benefits at time of resignation and not collect annuity until age 62 or do you have to start both at the same time? - Nancy  https://zurl.co/yidsG

Think you know how your FERS pension, Social Security, or military retirement will be taxed? Think again. In this episode, Micah and Floyd break down the tax pitfalls federal employees often overlook—like unexpected withholding issues, taxable income from multiple sources, and the impact of rental property depreciation. They share real examples and strategies to help you plan ahead and avoid costly surprises. Tune in now and take charge of your retirement planning! https://zurl.co/Yve3K

First, I have listened to your podcast for year,s and it has been a wealth of information. Thank you. Now for my question...I am a 54 year old federal law enforcement officer. I plan to retire in June after 33 years of service. My plan was always to transfer my TSP to an IRA so I had more control. I plan to take withdrawals from the TSP/IRA immediately upon retirement. However, I recently read that if I do the transfer, the IRA rules would then apply, and I could not withdraw until age 59 1/2. Is that true? - Sam   https://zurl.co/DCfuA

What does retirement really look like beyond the financials? In this podcast episode, Micah and Floyd discuss what life is like after retirement, focusing on more than just finances. They cover essential topics such as planning your daily routine, staying active, considering relocation, and having conversations with your spouse. The episode offers key steps to help you create a meaningful and fulfilling retirement. Don't miss this chance to gain the knowledge and confidence to embrace your next chapter with purpose and enthusiasm! https://zurl.co/UuUFl

I'm 65 now,  still working usps, when I retire in 1 to 2 years, I'm interested in keeping monthly health insurance down.  Is it more cost effective to keep fehb only, or get Medicare part b. I know best would be both, but I want to keep monthly cost low - Damian    https://zurl.co/veOww

Tax season can be overwhelming, but federal employees can stay ahead with the right strategies.  In this podcast episode, Micah and Christian break down essential tax planning techniques, including the importance of estimated tax payments, understanding tax brackets, and how to avoid common pitfalls. Discover how proactive tax planning can save you money and reduce stress when it's time to file.  Don't wait until the deadline—start planning today for a smoother tax season! https://zurl.co/bbkyR

Yes, good morning. Jeff here, wondering about having a postponed retirement. When the paperwork needs to be filled out, if I want to start that postponed retirement 2 years from now and I am actively working for the government now, when I walk out the door, if I do not have all that paperwork already in place, how difficult will it be for me to get those things completed after leaving service? Thank you. - Jeff https://zurl.co/UeE7J

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! https://zurl.co/5kxHM

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. https://zurl.co/cEHsZ

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. https://zurl.co/S2LdK

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. https://zurl.co/GLBhN

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  https://zurl.co/rrWQn

Planning for the future involves understanding what happens to your benefits after you are no longer here.  In this podcast episode, Micah and Christian explore the details of survivor benefits—who receives what, how to plan ahead, and why your choices are significant. You'll learn how your pension, Social Security, TSP, and FEHB affect your loved ones. The episode also covers important topics like insurable interest, beneficiary designations, and estate planning. Don't leave these crucial decisions to chance—tune in now to get the facts! https://zurl.co/jS2WG

My wife is a federal employee and will retire next year. She is going to be 50 years old. I am going to be 58 when she retires. I am on her health insurance which we want to continue having post retirement. Can I stay on her health insurance without her taking either survivor benefit? I understand that if she dies, I am no longer covered but if she lives, we do not take any survivor benefit coverage, can I remain on her health insurance as long as she is alive? - Matt    https://zurl.co/KLkev

Are you considering early retirement under VERA? Before you make a decision that could affect your benefits for years to come, it's important to understand the risks and opportunities involved.  In this podcast episode, Micah and Tammy discuss the key factors that federal employees should evaluate before opting for Voluntary Early Retirement Authority (VERA) or making other retirement choices. Learn how elements such as administrative leave during the deferred resignation period, pension benefits, TSP withdrawal rules, and the FERS supplement can impact your retirement plan. Discover the importance of cash flow planning, what potential delays in retirement processing could mean for you, and how to avoid common mistakes that might affect your benefits. Tune in for valuable insights and make informed decisions about your federal retirement. https://zurl.co/BLKyI

What does a Reduction in Force (RIF) or job change mean for your federal benefits and retirement plans? These transitions can bring uncertainty, but you can stay in control with the proper preparation. In this podcast episode, Micah and Floyd share strategies to help you navigate career changes and retirement readiness. Learn about building an emergency fund, managing Temporary Continuation of Coverage (TCC) for health insurance, and preparing for early retirement opportunities. Understand the key rules for maintaining Federal Employee Health Benefits (FEHB) and how to secure your pension under various scenarios. Tune in now to gain clarity on these critical topics and make confident decisions about your federal career and retirement. https://zurl.co/sfKFN

Need help with federal employee survival benefits. I looking for specific help with my wife's survivor FERS and Death Benefits. My wife worked for the Federal government and was still working when she passed.  After her death I met with her employer to fill out paperwork to gain access to her TSP (401k) and FERS accounts, and to make decisions regarding how the death benefit would be paid out. I don't understand the tax rules for the FERS and death benefit funds so am looking for some guidance.  My wife passed away in February and after 9 months, I was finally given access to her TSP account. Her FERS and death benefits are still being processed by OPM. - Mark    https://zurl.co/Gb4nj

What impacts will the latest tax law changes, Social Security projections, and market uncertainties have on your federal retirement in 2025? In this podcast episode, Micah and Floyd discuss actionable strategies to prepare you for a secure retirement. Learn how to navigate potential Social Security reductions, plan for tax diversification, and ensure your retirement cash flow is under control. Plus, uncover tips on Roth conversions, the importance of knowing your income projections, and how to avoid costly mistakes.  Tune in now to stay ahead in your retirement planning and make confident decisions for your future. https://zurl.co/gdbqQ

Hi, my name is Eric. I am calling because I have a question about buying back my military time. I am retired from the from the Marine Corps. Injuries Sustained in Combat. So I received a CRSC Combat Related Special Compensation, and my question is how does that impact... because I heard that if you buy back your time, you surrender that. So hopefully you can answer this question. Thank you. Bye. - Eric https://zurl.co/8y7vW

Are you ready to unlock the secrets to a stronger TSP in 2025? In this podcast episode, Christian and John reveal strategies to make the most of your Thrift Savings Plan. From updated contribution limits to the benefits of compounding interest, Roth contributions, and rebalancing your portfolio, this episode is packed with actionable tips to help you prepare for a successful year. Tune in now and take control of your retirement planning to ensure you're set up for long-term financial success! https://zurl.co/hvDso

Hello. My name is Joyce and I am trying to determine the best date to retire either december 31st or january 11th 2025 at the end of the last pay period. Just wanted to know the advantages of possibly waiting to retire at the end of the pay period. And if I would receive my annual lump sum and the January pension or would it start in February? Thank you in advance for your your help with this question. Thank you. Bye bye. - Joyce    https://zurl.co/L1MK1

Ready for retirement but still trying to figure out what comes after the paycheck? In this podcast episode, Jamie and Floyd dive deep into the emotional side of retirement, something many people overlook. Discover how to handle the loss of purpose, adjust to new routines, and stay connected with others as you transition to this next phase of life. Retirement isn't just about finances; it's about finding fulfillment in every part of your day. Listen now for practical insights that will help you navigate this shift and build the retirement you've always wanted.  

I'm 60 years old with 36 years of service. I called the TSP help line and asked if I could roll over money from the traditional TSP directly to a Roth IRA I have at Fidelity. They said yes. And, sure enough, when you go on the tsp.gov website and click through Withdrawals and "Roll Over an Amount to an IRA" "Roth IRA" is one of the three choices for a destination. So, is it true you no longer have to do the two step process of going to an IRA and then from there roll over to the Roth? If so, what is the "gotcha," because that seems way too easy? As you click through further, there is no federal tax withholding done by the TSP, so the whole amount goes to the Roth. Meaning, you're on your own for paying the taxes. It would be costly in the short term but potentially save a ton of taxes in the distant future. - Douglas    https://zurl.co/plXz

How can you make the most of charitable giving while reducing your tax burden? In this podcast episode, Christian and John explore the strategic use of Qualified Charitable Distributions (QCDs) in retirement planning. Learn how QCDs can help you meet Required Minimum Distributions (RMDs) while supporting causes you care about—all tax-free. They also dive into age requirements, reporting considerations, and unique planning opportunities. If charitable giving is part of your retirement goals, this episode is a must-listen! Tune in for actionable insights to improve your retirement plans. https://zurl.co/dyBc