Podcasts about blended retirement system

Play Episode Listen Later Dec 15, 2023 9:44

More than a million military service members participate in the so-called blended retirement system. It lets them make TSP-style savings contributions that are portable. The funds go with them when they leave the military. But there is more to financial readiness, something to think about in a high-spending season. For some ideas, Federal Drive Host Tom Temin spoke with Mike Meese, the President of the American Armed Forces Mutual Aid Association. Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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How service members can get more out of their blended retirement system

Play Episode Listen Later Dec 15, 2023 10:29

president service members tsp blended retirement system

Financial Readiness for Service Members and Families

Military Money Show

Play Episode Listen Later Aug 21, 2023 44:18

Financial readiness is a critical part of force readiness but also to the quality of life of service members and their families. When it comes to taking advantage of the resources provided by the Office of Financial Readiness, there are often some misconceptions. In this episode, Andrew Cohen gives us an inside look at what FINRED is, how it helps, and how you can use it to set your finances on the right track. We cover the Blended Retirement System, the new Dependent Care FSA, and more. Andy is the Director of Financial Readiness in the Office of the Deputy Assistant Secretary of Defense for Force Education and Training. As Director, he leads the Financial Readiness team in the planning, direction, control and coordination of Department of Defense-wide policies and programs to meet the financial literacy and preparedness needs of service members and their families. The show notes can be found here: https://laceylangford.com/podcast/Financial-Readiness-for-Service-Members

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Employment vs. Entrepreneurship: Going From Employee to Owner

Military Money Show

Play Episode Listen Later Jun 12, 2023 45:55

Earning income is a critical part of building your wealth. For most of us, that is either having a job or starting a business, but what if there is a hybrid way? In this episode, I talk to Kirby Williams about her journey of going from an employee to buying and running the business she worked at. Kirby is the owner of Advantage Publications, an educational publishing company where she was formerly a marketing associate. She has designed and developed custom financial education slide calculators for the Social Security Administration, the FDIC, VOYA, CalPERS, the CFPB, and others. In 2018 she created The Match Booster, based on the Blended Retirement System that is used in financial readiness education by Fleet and Family Support Centers, Army Community Service, and the US Coast Guard PFMP. The show notes can be found here: https://laceylangford.com/podcast/Employee-to-Owner

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One Year in the Air Force and the Blended Retirement System

Women of the Military

Play Episode Listen Later Feb 15, 2022 24:43

Thank you to our sponsors:Sabio Coding Bootcamp is a top-ranked coding Bootcamp that is 100% dedicated to helping smart and highly motivated individuals become exceptional software engineers. Visit their website www.Sabio.la to learn how you may be able to use your GI Bill benefits to train at Sabio. Your tuition and a monthly BAH stipend may be paid during your training period. Mentioned in this episode:Women of the Military on YouTubeDFAS Blended Retirement Fact SheetDoD BRS CalculatorCheck out the full show notes at https://www.airmantomom.com/2022/02/going-through-air-force-basic-training/Thank you to my Patreon Sponsor Col Level and above:Kevin Barba, Lorraine DiazGet your Women of the Military Podcast gear here.Thank you Patreon members for your support. Become a Patreon member today! Click here.

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Episode 60 Reserve Retirement

Play Episode Listen Later Aug 25, 2021 11:55 Transcription Available

Today were celebrating episode 60 by talking about Guard and Reserve retirement. If you find trying to figure out what your retirement pay will be and how to qualify, you are not alone. Here's a link to the online DoD retirement calculator https://militarypay.defense.gov/Calculators.aspx and Doug Nordman's blog post in The Military Guide at https://the-military-guide.com/reserve-retirement-calculator/ Doug gives you the numbers and formulas written out more background. First, to determine if you will be eligible for retirement you need to look at the number of points you build up and the number of “good years” you completed. When you've cleared these two hurdles, you'll translate your points earned into years of service for the purpose of calculating your retirement pay. Once you're eligible for retirement you can continue to serve or retire. But a key difference between a reserve retirement and an active duty retirement is that with few exceptions, you won't actually start receiving your retirement pension until you reach age 60. You earn 15points for each year of service. Drilling reservists and Inactive Ready Reserve (IRR) get these 15 points a year. You accumulate more points for drill weekends, active duty periods, and things like serving on funeral honors detail. Every active duty day count is one point. Each drill counts one point, usually 4 a weekend. For example, a drilling reservist could earn 77 points one year: 15 points for annual participation, 48 points for four drills a month for 12 months, and 14 points for 14 days of annual training.A good year is when you earn a minimum of 50 points within a 12 month period and maintain your mobilization readiness. Your considered eligible for retirement when you've completed 20 good years of service. Continue serving and earning more points will increase your retirement pension. When you retire you have a very important decision to make. You either Retire Awaiting Pay or Resign. The key benefits of Retire Awaiting Pay are your seniority continues to accumulate as if you were still serving, called longevity. And when you reach 60 your retirement pay will be based on active duty pay table in effect that year. However, you could still be recalled to duty for full mobilization. Almost every Guard and Reserve retiree chooses to Retire Awaiting Pay and take the risk. If you resign your pension will be frozen at your resignation date. You should receive a Notification of Eligibility once you had 20 good years. Keep this and a record of your points earned a safe place. Your retirement pay won't start automatically at age 60. You will need to file and don't delay. If you wait more than six years you will lose one day of pay for any day more than that you waited. How much will you get paid? First, divide your total earned points by 360 to translate points into years. Then if you're a Final Pay or High Three retiree multiply those “years” times 2.5% times your pay on the pay scale for the year you turn 60. Again, those years in rank, or longevity, continued to tick up while you were retired awaiting pay so look for that column on the pay chart. If you're in the Blended Retirement System or BRS, it's 2.0% times your years times your pay. And remember, you can only use the pay chart for the year you turn 60 if you chose to retire awaiting pay. If you chose to resign, use the pay chart and years of service for the year you resigned.You may be eligible to begin retirement pay three months early for every 90 consecutive days of mobilization for war or national emergency.Have more questions about your Guard Reserve retirement, reach out to katie@moneypilotadvior.com

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Episode 55 TSP Withdrawal at 55

Play Episode Listen Later Jul 20, 2021 8:05 Transcription Available

Hello and welcome to the 55th Episode of the Money Pilot Financial Advisor Podcast. For those of you who have stuck with the podcast to middle age, Thank You! I love speaking with you each week and bringing you info on money and finance that you can use to live your best life. In celebration of Episode 55, today we're talking about you turning 55 and your Thrift Savings Plan (TSP). TSP is very similar to a workplace 401k. But there are a few differences and today's discussion is about one, TSP and being age 55.You have probably heard that you can't withdraw money from your TSP before age 59 ½ without paying a 10% tax penalty. But if you separate from service in the year you turn 55 years old or later, you can withdraw any or all of your TSP without paying the 10 % penalty. You will still have to pay tax on Traditional TSP withdrawals, but you won't face a penalty. Now, if you are a federal employee under the special retirement provision for law enforcement, firefighting, and air traffic control personnel who reach retirement eligibility earlier than other federal employees, you can make penalty-free withdrawals from TSP when you separate from service at age 50 or later.This penalty-free withdrawal is only available if you separate from service when you are age 55 or older. This applies to both military and civilians. In practice, few military will be able to serve until age 55, even if you wanted to. But if you do, you can take advantage of this penalty-free withdrawal just like the civilians. If you separate or retire before that, you won't be able to take advantage of this when you turn 55. You must separate at 55 or later. Or if you are under the civilian special retirement provision age 50 or later.Just because you can tap your TSP early without penalty, it doesn't necessarily mean it is a good idea. You could be living in retirement for 40 more years. TSP makes up a key component of Federal Employee Retirement System (FERS) and military Blended Retirement System (BRS) retirements. Leaving TSP to grow can help offset higher costs of living later in life because of inflation and higher need, like more healthcare as you age. But if you need it, maybe for a gap in income or a one- time expense, you can takea TSP distribution without a penalty if you separate at 55 or later. For example, minimum retirement age for most FERS employees is between 55 and 57 years old. But you can only begin receiving retirement benefits at that MRA if you have 30 years of service. If you have at least 20 years of service you can receive your full retirement pay starting at age 60. This is a good example of a situation where you might need or want to tap TSP early. If your federal MRA is age 56 and you call it quits at age 58 with 26 years of service. You'll eligible for your full retirement at age 60. But still that's 2 years away. You may have saved enough to tide you over to 60, or take up another job outside of government service. But if you still have a gap and need a source of income for those 2 years before your pension starts, this rule could be a solution. To wrap up, anyone can begin withdrawals from your TSP any time after you reach age 59 ½ without penalty. But if you separate from service when you are age 55 or older, you can begin distributions from TSP without paying the 10% penalty anytime. Just remember you will still owe income tax on distributions from Traditional TSP. But if you meet the 55-year-old rule, you won't have to pay the additional 10% early withdrawal penalty. And lastly if you under special retirement provisions, the rule is 50 or older for you.I hope you've enjoyed today's podcast and keep your questions coming. I specialize in helping military and federal employees navigate transitions and gaps. If you'd like help with your financial decision making, reach out, I'm here for you.

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10: Military Pension Plus Blended Retirement System

Leading with Cents

Play Episode Listen Later Apr 7, 2021 21:51

"The military pension gives people an excuse to not contribute toward their retirement, so when they do retire, they have nothing in their TSP." Money Marching Order 4: Body Armor 3-6 Months of Net Pay from LES Money Marching Order 5: Pension Plus If in Blended Retirement System - 30 y/o > Invest 10% into TSP - 30 y/o< Invest 15% into TSP If in Traditional Retirement System - 15% into TSP TSP Funds to invest in 70% in the Common Stock (C Fund) 20% in the Small Cap (S Fund) 10% in the International Fund (I Fund) Stay away from Lifecycle and G/F Funds!! Blended Retirement System - Defined Benefit- 40% pension @ 20 yos - Defined Contribution (match)- 5% - Continuation Pay- Paid between 8-12 yos - Lump Sum Option at retirement age SEE my interview on About Face Podcast https://youtu.be/JuJFpu9gQEs Connect with me www.instagram.com/timmemak BRS Guide https://militarypay.defense.gov/Portals/3/Documents/BlendedRetirementDocuments/A%20Guide%20to%20the%20Uniformed%20Services%20BRS%20December%202017.pdf?ver=2017-12-18-140805-343

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7: MMO #3- Debt Assault and Blended Retirement System Match

Leading with Cents

Play Episode Listen Later Mar 10, 2021 24:26

"While in the service, you are pawns of the government. We serve our nation against enemies foreign and domestic...when you decide to exit the military, either transition out or retire- the military is DONE with you." In this episode we cover bad debt and how to pay off debt along with the Blended Retirement System match. -Pay off debt using Debt Snowball (smallest to largest) - Each car should not be more than 25% of your yearly income or no more than 3 months of pay - If in Blended Retirement System, turn on your 5% match. - Contribute into ROTH TSP 70% C Fund/20% S Fund/10% I Fund within your TSP - Stay out of G Fund and Lifecycle Funds Connect with me: www.instagram.com/leadingwithcents www.instagram.com/timmemak

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Episode 6 TSP L Fund Changes

Play Episode Listen Later Aug 11, 2020 14:08

Show Notes – Episode 6 TSP L Fund ChangesThis July, the Thrift Savings Plan (TSP) has made some changes to its L Lifecycle Funds. These funds get their name from year you plan to retire and begin withdrawing your money, called the target date. You choose one appropriate target date fund. Then that fund invests your money based on how much longer you have to retirement. They manage a shift in risk by following a set plan, called the glide path. They invest in higher risk investments while your young and gradually shift your portfolio to less risky investments as you get close to retirement. Target date funds are typically available in retirement savings accounts like TSP or a 401(k) where you can invest by payroll deduction. You can also open an IRA and invest in a target date fund. Target date funds continuously re-balance the fund as needed when the value of stocks values change and throw the fund out of balance, off the glide path. The fund managers are constantly “buying low and selling high" to keep the balance and stay on the path.In choosing a target date consider when you will start withdrawing your retirement savings. You normally can't draw from these retirement plans until you're at least 59 1/2 years old, or you pay a 10% early withdrawal tax penalty. For military, its very unlikely you will be that old when you leave the service, even if you retire. So pick a date where you’re at least age 60. There is an exception for FERS employees. Your TSP will be exempt from the penalty if you separate from federal service in the year you turn 55 or later. For Special Category Employees (SCE), it's 50 or later. For everyone, the penalty will apply for most withdrawals from an IRA before age of 59 ½. Also consider what kind of “retirement” you envision. Many peoples’ views are changing and they’re not just planning to hit 65, collect social security, and sit in a rocking chair. You may be thinking of a second career or doing something part time when you separate from government service. In that case, your target date might be even later. It’s up to you. TSP calls its target funds Lifecycle (L) Funds. TSP has five core mutual funds C, S, and I are stock funds, G and F are bond funds. The L Funds invest in the 5 core TSP mutual funds in different percentages depending on where your target date year is along the glidepath. For example, L 2060 will invest almost entirely in the C, S, and I stock funds and a very small amount in G and F bond funds. That will shift gradually over time, so you are invested mostly in conservative F and G bond funds and much less in the stock funds at the target date. Once a target year arrives, that fund is retired and your savings are put in the L Income fund. This is the fund designed for TSP participants who are withdrawing their funds in retirement.This July, there was some changes to the L funds. First off, there are more of them. They used to have an L fund for 10-year intervals. So if you were planning on retiring in 2025, you had to choose between L 2020 fund or L 2030 fund. TSP has now added more funds farther out, and at 5 year intervals. That’s an L Fund every 5 years from 2025 to 2065. This gives more options to our younger employees and servicemembers and makes it a little easier to pick an appropriate target if you were between the 10 year marks.If you would like more detailed information, you can check out a blog I wrote for the Military Financial Advisors Association at their website: http://militaryfinancialadvisors.org/blog/You can find more information at: https://www.tsp.gov/funds-lifecycle/If you have any questions about today’s show, or would like to learn more, reach out and let’s do this, together. https://www.moneypilotadvisor.com

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Episode 4 Saving Priorities

The Cash Flow Veteran Podcast

Play Episode Listen Later Jul 28, 2020 11:42

Show NotesThere are so many demands on your paychecks, it can be tough when you don't have enough cash to tackle all that at once. Here are my recommended top 3 priorities.Emergency Fund. A common rule of thumb is to have three to six months of essential living expenses set aside. This will include groceries, your rent or mortgage payment, car payment, gas, and utilities, as well as insurance (health, life, disability, home, auto, renter’s…) If you lose your job or are furloughed, you can still cover all your expenses for t a few months while you get back on your feet. Three months worth of expenses can seem impossible at first. I recommend you start with a $1,000 goal. Put away what you can each month in a savings account Even if it's just $50 or $100 a month, keep it up and when you hit your first thousand dollars milestone dance a little jig and lift your sights on the three-month prize.Ever wonder how you eat an elephant? One bite at a time. So, tackle your emergency fund the same way. TSP Match. Contribute enough to your Thrift Savings Plan (TSP) to get your employer match. This is literally free money. For military in the Blended Retirement System, when you contribute 5% of your base pay to TSP, the government will match it, that is it put an additional 5% into your TSP account. Federal employees in in the Federal Employee Retirement System (FERS) who contribute 5% of your combined basic pay plus locality pay also get a 5% TSP match. Regular civilian employees such as spouses with 401(k) or 403(b) retirement plans through work often had some kind of match as well. Ask about the details. https://www.tsp.gov/making-contributions/contribution-types/ Saver’s Tax Credit. The Retirement Savings Contribution Credit, nicknamed the Savers Credit, is a program to help savers with modest income put away little extra for retirement. Up to certain income limits, military and civilian employees that put at least $2000 a year in their TSP (or other qualified retirement plans like IRAs and 401(k)s) can receive the federal tax credit for up to 50% of their contributions. This is a tax credit that will reduce your federal tax bill dollar for dollar (but not below zero). https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-savers-credit Pay off Credit Cards. The average interest on a credit card balance is from 14% to more than 25% a year. If you have $1,000 in credit card debt, that could be more than $250 in interest added in the first year. But that snowballs as you pay interest on top of interest. Chances are, if even you stop using the card and you're making minimum payments, that balance on your card will still grow, larger year after year, like an elephant. The only way out from under this is to make larger payments on your card until the whole thing is paid off. Find a payment that is more than the minimum required, and pay each month until it starts to shrink.How to Prioritize? You can tackle these three savings priorities one at a time. I recommend you put some money toward each one every month, starting now. You'll gain a bit more peace of mind each month knowing that you can weather a storm, you're investing extra, free money for your future, and that credit card elephant is will start disappearing before you know it.If you have any questions about today’s show or would like to learn more, reach out and let’s do this, together. https://www.moneypilotadvisor.com

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7. Improving Your Personal Economy - THE Economy vs You, Part 1

Play Episode Listen Later Jun 12, 2020 45:13

First off, what are you doing?! Have you joined my daily email list where you get commentary on the ideas & news of the day relevant to liberty, veterans, and entrepreneurship. Go To CashFlowVeteran.com, Download My Ebook, and Sign Up For A Daily Dose Of Awesome! **************************** CFV Episode 7: What is more important? The US Economy or Your personal Economy What does that even mean? People talk constantly about the stock market as if it IS the economy… It's not but treated like it is It's a lie. It's only an indicator and a bad indicator at that bc it is constantly manipulated, inflated, and used as a means of socializing losses. It's where the wealthy, well-connected transfer wealth from the middle and lower economic classes. I will be working on a more thorough analysis of this eventually from the context of TSP, Blended Retirement System, in another series of podcasts, articles and an ebook. It'll be an application of the Austrian Business Cycle Theory to government contractors, the DoD, retirement, the finances of the medical system. All the benefits of military membership while simultaneously eroding the financial structure our country is based on…and NO, our current monetary system is not a Free-market or capitalism per se. As always, I love question and constructive debate, so reach out at Cashflowveteran.com or on any of my social media channels below. ************* CFV Links: Website: https://cashflowveteran.com/ -- Join My Daily Email List Facebook: @CashFlowVeteran Twitter: @CashFlowVeteran Youtube: Cash Flow Veteran ************* Affiliate Links To Support The Show https://www.amf-usa.org/contact -- Let Him Know I Sent You -- DNA Test through Brandon Grone (Rep With IDLife) https://cashflowveteran.com/libertyclassroom -- Tom Woods' Liberty Classroom https://cashflowveteran.com/marketingdna -- Perry Marshall's Marketing DNA Test/Index Affiliate Disclosure: I earn an income when you click and buy through these links. You don't have to, but affiliate links are the primary way for me to fund my show! --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/cashflowveteran/message

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BRS and Division of Assets Upon Divorce

The Josh Scandlen Podcast

Play Episode Listen Later Mar 8, 2020 22:16

The Blended Retirement System has made division of assets upon divorce a little more complicated.

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Blended Retirement System and why it's so great!

JW Military Finance

Play Episode Listen Later Sep 5, 2019 23:36

The BRS is awesome. Well I think it is. Here is why! My YouTube video on the BRS - https://youtu.be/cMJXfTD_r04 TSP BRS Calculator - https://www.tsp.gov/PlanningTools/Calculators/howSavingsGrow.html Thank you for listening. Join the conversation on FaceBook https://www.facebook.com/JWMilitaryFinance/ --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/john-wood08/support

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4. The Blended Retirement System

Sheepdog Financial

Play Episode Listen Later Jul 24, 2019 19:19

In our fourth episode of the sheepdog financial podcast we do a deep dive into the blended retirement system. One of the key benefits of the military is the retirement. The retirement system used to be a simple 20 years and out pension. The National Defense Authorization act of 2016 changed that and created a new retirement system for military members. The new Blended Retirement System (BRS) blends the traditional legacy retirement pension, also known as a defined benefit plan, with a defined contribution plan known as the Thrift Savings Plan (TSP). The BRS went into effect on January 1st of 2018. The BRS significantly changes the military retirement system and for many will be their first opportunity to save and plan for their retirement regardless of how long they serve.

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Blended Retirement System / Survivor Benefit Plan

Play Episode Listen Later Mar 18, 2019 31:13

As of today, (5/13/2018) ANYONE who joins the US Military will do so under the new retirement plan, the "Blended Retirement System". As someone who served 3+ years on active duty in the infantry and another 4 in the National Guard, I am fond of the new rules. After all, the VAST majority of servicemen and women do NOT stay the full 20 years and receive NO benefits at all upon separating from service. (Yes, they get the VA Loan and college benefits but no medical or retirement benefits.) The new system will reward service personnel for completing their first tour or two without having to commit to remaining the service for another decade and a half or so. This is good. Also, as an incentive to keep senior personnel who've served 12 years, think NCO's, they will receive a Continuation Bonus when they sign on for another 4 years. These NCO's are the backbone of our fighting force and we need for them to continue to serve. They are irreplaceable. So, giving them bonuses as an incentive to re-up is good for them, and for our country. Yeah, there will be a reduced pension for those who stay in for 20 yrs or more. But that COULD be more than made up by 5% match on the TSP. That's a trade-off I'd take in a heartbeat. On a secondary topic, I discuss pensioners in their decision to take the Survivor Benefit Plan (SBP) or not. The SBP is nothing more than a premium payment the retiree makes to allow for his/her surviving spouse to receive 55% of the retiree's benefit at death. The premium isn't cheap. So, it's imperative the retiree consider ALL options before signing on OR rejecting the offer. Some folks will opt to not take the SBP and instead buy a life insurance policy. This MAY work. But if it doesn't you could be leaving your surviving spouse in a world of hurt if you die. Proceed. With. Caution here folks. Understand the ins and outs of ALL options. http://militarypay.defense.gov/BlendedRetirement/ https://www.usaa.com/inet/pages/insurance_life_military_benefits?akredirect=true --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

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Air Force Radio News 26 December 2018 A

Air Force Radio News

Play Episode Listen Later Dec 26, 2018

Today's stories: The F-35 Maintenance team at Edwards Air Force Base, California, are exploring the use of virtual reality for training. Also, December 31st, 2018 is the last day to opt-in to the Blended Retirement System.

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Air Force Radio News 12 December 2018 A

Air Force Radio News

Play Episode Listen Later Dec 12, 2018

Today's story: Airmen still have time to make the switch to Blended Retirement System before the December 31, 2018 deadline.

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Service members are running out of time to opt-in to the blended retirement system

Play Episode Listen Later Dec 4, 2018 8:42

Time is winding down for service members to sign up for the blended retirement system. Army soldiers have some new options for work after service. And the military is continuing to work with those service members who are deemed nondeployable. Federal News Network's Scott Maucione discussed all that and more from his DoD Personnel Notebook on Federal Drive with Tom Temin.

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Air Force Radio News 02 November 2018 A

Air Force Radio News

Play Episode Listen Later Nov 2, 2018

Today's story: Chief Master Sergeant of the Air Force Kaleth Wright recently posted on his Facebook page that it's now open season for the Blended Retirement System or BRS.

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095 | A Military Path to FI | Military Dollar

ChooseFI

Play Episode Listen Later Oct 1, 2018 61:11

095 | The author of the Military Dollar joins Brad and Jonathan to discuss the various ways that service members can optimize their finances and choose financial independence, including retirement plans, financial planning, health care benefits and the GI Bill. Working in the military can set someone up to retire after 20 years with a pension and the ability to pursue whatever interests them. Why do many young members of the military actually have financial problems? Has Military Dollar ever seen any specific education for new servicemen? How could a young person change his/her mindset to make more frugal choices and pursue FI? Why did Military Dollar decide to pursue financial independence? How did she get started? What was MD’s savings rate early on? How has MD set herself up to potentially retire by 41? What was the moment that changed MD’s mindset and approach toward finances? How do most military members approach debt? What does the optimized path to FI look like in 2018. What’s the difference between the old Legacy Retirement and new Blended Retirement System? What advantages does the Blended Retirement System have for people who don’t stay in the military for 20 years or more? What is the biggest difference between the enlisted and the officer’s route to FI? How can people plan for and understand relatively predictable promotions and pay raises? If someone starts young and doesn’t increase their lifestyle spending, getting to a 50% savings rate is very possible. Within the military retirement system, what investment options are available? Active duty health care = free for you and your family. How does the GI Bill work, and how does that help with college expenses? The GI Bill can be passed onto family members, but does include a service commitment. If the GI Bill is used by a service member’s children, or after separating from the military, there is a housing allowance available. GI Bill will cover all tuition and fees as an in-state student for public universities. GI Bill will cover approximately $22k for private universities. What is the Yellow Ribbon program, and how does it help cover the difference? What is the minimum time of service to qualify for the GI Bill? What’s next for the MD whenever she retires from the military? How does MD balance her commitment to the military with her interest in serving her community? How will MD know when it’s time to retire? For more information, visit the show notes at https://ChooseFI.com/095

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Playing with FIRE Remix

The Money Millhouse

Play Episode Listen Later Aug 20, 2018 35:49

Bethany and Ellie reminisce about their time learning to surf in Hawaii and their surfing instructor and Money Millhouse guest, Doug Norman. They also talk about their side hustles, what a side hustle is, and their goals and objectives when it comes to what their side hustles yield. They discuss financial independence and being able to retire early (also known as the FIRE movement). Doug joins Ellie's kitchen table discussing the Blended Retirement System, the new Military Retirement System, as well as how he and his wife were able to retire early. They touch on asset allocation, high savings rate, how to save as a civilian, what to do as a retired couple, as well as travel hacking as a vet. Bethany and Ellie wrap up the show clarifying a lot of the big words and concepts Doug used.

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Playing with Fire

The Money Millhouse

Play Episode Listen Later Feb 26, 2018 29:46

Bethany and Ellie reminisce about their time learning to surf in Hawaii and their surfing instructor and Money Millhouse guest, Doug Nordman. They also talk about their side hustles, what a side hustle is, and their goals and objectives when it comes to what their side hustles yield. They discuss financial independence and being able to retire early (also known as the FIRE movement). Doug joins Ellie's kitchen table discussing the Blended Retirement System, the new Military Retirement System, as well as how he and his wife were able to retire early. They touch on asset allocation, high savings rate, how to save as a civilian, what to do as a retired couple, as well as travel hacking as a vet.

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Everything you need to know about DoD pay and benefits changes in 2018

Play Episode Listen Later Jan 10, 2018 7:34

Military and Defense Department employees will see some big changes to retirement and prescription drug copays starting next year.

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All Hands Update: Blended Retirement VS Legacy Retirement

Play Episode Listen Later Dec 18, 2017

A new retirement system goes into effect Jan. 1, 2018. See how the legacy “high-3” and the new Blended Retirement System compare if you stay until retirement.

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All Hands Update: Blended Retirement System

Play Episode Listen Later Dec 15, 2017

Department of Defense is helping you decide between retirement programs.

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Episode 61: She’s Going To France

NextGen MilSpouse

Play Episode Listen Later Dec 8, 2017 48:08

The Blended Retirement System is coming and we’re talking all about it with the CEO of First Command and one of their financial advisors, who just happens to be a military spouse. We also talk about Jessica’s trip to France (*eye roll*) and why Tricare can be the worst. This Week’s Guests: Scott Spiker and Katy […]

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Your health plan in jeopardy

Play Episode Listen Later Nov 29, 2017 43:23

info@podcastone.com1782602Wed, 29 Nov 2017 05:01:00 PSTMike Causey00:43:23American Armed Forces Mutual Aid Association,Benefits,Blended Retirement,Blended Retirement System,Federal Employees Health Benefits Program,FEHB,Health Insurance,Mike Causey,Open Season,Pay,Retirement,Walt Francis,Your Money,Your Turn

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Is it time to change your health plan?

Play Episode Listen Later Nov 29, 2017 43:23

Most feds will stay in the same health plan theyve been in for years. Maybe even decades.Walton Francis, editor of Consumers Checkbook Guide to Health Plans for Federal Employees, says thats a mistake. Francis says all of the plans are good, but some may be wrong for you. Or too expensive for what they cover.Francis will be the guest today at 10 a.m. ET on Your Turn. Hell be answering questions sent in by listeners over the last two weeks. If you have one, fire it off to host Mike Causey (before showtime) at: mcausey@federalnewsradio.com.Listen at 10 a.m. ET on Federalnewsradio.com or at 1500 AM in the D.C. area. The show will also be archived on our home page so you can listen later.

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Open season with Walton Francis

Play Episode Listen Later Nov 15, 2017 43:17

info@podcastone.com1779112Wed, 15 Nov 2017 08:01:00 PSTMike Causey00:43:17American Armed Forces Mutual Aid Association,Benefits,Blended Retirement,Blended Retirement System,Federal Employees Health Benefits Program,FEHB,Health Insurance,Mike Causey,Open Season,Pay,Retirement,Walt Francis,Your Money,Your Turnhttps://pdst.fm/e/chtbl.com/track/E2G895/aw.noxsolutions.com/launchpod/adswizz/1127/11151

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The pros & cons of the blended retirement system

Play Episode Listen Later Nov 8, 2017 43:17

info@podcastone.com1777613Wed, 08 Nov 2017 11:01:00 PSTMike Causey00:43:17AAFMAA,American Armed Forces Mutual Aid Association,Benefits,Blended Retirement,Blended Retirement System,Defense,Defense News,Michael Meese,Mike Causey,Pay,Retirement,Your Money,Your Turnhttps://pdst.fm/e/chtbl.com/track/E2G895/aw.noxsolutions.com/launchp

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All Hands Update: Blended Retirement VS Legacy Retirement

Play Episode Listen Later Jul 19, 2017

A new retirement system goes into effect Jan. 1, 2018. See how the legacy “high-3” and the new Blended Retirement System compare if you stay until retirement.

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All Hands Update: Blended Retirement

Play Episode Listen Later Jun 14, 2017

Department of Defense launched the comparison calculator to help you decide between retirement programs.

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All Hands Update: Headlines for June 07, 2017

Play Episode Listen Later Jun 8, 2017

NAS Whidbey Island SAR Rescues in Olympic Mountains and Mt. Baker, DoD Launches Blended Retirement System Comparison Calculator

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Where Can I Find Other Training About the Blended Retirement System?

Play Episode Listen Later Jun 8, 2017 7:17

Rejoice, you have made it to the last segment in my series on the Blended Retirement System (at least until new information comes along).

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What Other Effects Will the Blended Retirement System Have?

Play Episode Listen Later Jun 1, 2017 6:42

Let us talk about some of the other aspects of this new retirement plan.

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The Thrift Savings Plan Under the Blended Retirement System

Play Episode Listen Later May 25, 2017 8:23

How will the Thrift Savings Plan change under the Blended Retirement System?

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Career Continuation Pay Under the Blended Retirement System

Play Episode Listen Later May 18, 2017 7:34

This week I will describe the facts and dispel some myths about career continuation pay under the Blended Retirement System . While it is relatively simple, there are some misunderstandings about it.

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What Will the Blended Retirement System Do To My Pension?

Play Episode Listen Later May 11, 2017 5:44

How will BRS affect your pension?

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Myths About the Blended Retirement System

Play Episode Listen Later May 4, 2017 18:18

There are a lot of rumors and downright falsehoods about BRS. Let us do some mythbusting.

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Calculating Retired Pay Under the Blended Retirement System

Play Episode Listen Later Apr 27, 2017 6:45

How much will I make in monthly retired pay under BRS?

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Announcement: Webinar on the TSP and How It Will Work Under BRS