Most Important Decisions You Make at Retirement (Irrevocable!!)

Free Copy of My Book: Building Wealth In the TSP: Your Road Map To Financial Freedom as A Federal Employee:
app.hawsfederaladvisors.com/f...
FREE WEBINAR: "The 7 Biggest FERS Retirement Mistakes":
app.hawsfederaladvisors.com/7...
Want to schedule a consultation? Click here:
bit.ly/work_with_us_haws
Submit a question here:
app.hawsfederaladvisors.com/q...
I am a practicing financial planner, but I'm not your financial planner. Please consult with your own tax, legal and financial advisors for personalized advice.

[@ddxl459]

People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.

[@_omarlives]

Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I've been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.

[@craigl9727]

I’m retiring this year and I’ve been obsessing on these videos. Thanks for sharing.

[@PlanYourFederalBenefits]

I'm so glad you like them! Thank you.

[@RobTeeJr]

Excellent information. I wish that this type of information was readily available when I joined Civil Service in 1980. One thing I haven't seen addressed is what happens with your basic/standard FEGLI upon retirement. The way I understand it, your free basic coverage will be reduced monthly by 2 percent of your pre-retirement until it reaches 25% of the your pre-retirement amount.

[@Vicshade]

Thanks for the info. Great information

[@PlanYourFederalBenefits]

My pleasure!

[@sallywilliams5444]

Very informative. Thank you.

[@PlanYourFederalBenefits]

My pleasure! Glad I could help!

[@loadtoad]

Thank you for all of the incredible content you provide to us! It is really appreciated!!!

[@PlanYourFederalBenefits]

Glad I can help, thank you for your continued support!

[@KdKlips1890]

Thank you for the great information!!! Once again...5 stars

[@PlanYourFederalBenefits]

Thank you, much appreciated!

[@walkingdude8779]

Another great topic well explained. Thx

[@PlanYourFederalBenefits]

Glad you liked it!

[@hypmotizedbysoles]

Thanks for all the information. Sure not going to get any answers or assistance from H. R.

[@zenawarrior7442]

Depends on your HR. Some are very helpful, sorry yours isn't 😑There's many classes & YT videos to help us luckily 😊

[@thomasreichard7812]

HR isn't there to help, they just push the paper.

[@goththicus]

😂

[@b.dailey3180]

I❤HR

[@b.coxemba6799]

I personally didn't need another annuity and enjoy the flexibility. I watched the tax bracket for withdrawals but in most cases its only 2% increased.

[@striperseeker]

Great info as always. Can you do a video explaining FEHB vs Medicare Part B and why I should keep one over the other or both of them. Part B is income based up to ~$170/month. My FEHB 111 is about $190 a month. It's confusing. Thanks

[@1Mannco]

I've been asking the same question.

[@PlanYourFederalBenefits]

Thanks for the feedback! Here is a great video that goes over the differences between the two: kzbin.info/www/bejne/g3OxgIiifcd0jKc&ab_channel=HawsFederalAdvisors

[@deedeechant9792]

I so am appreciative of your videos because I don't get information such as this from my agency. Question: Can I stop the life insurance before I retire as I am single. Is there a good govt retirement checklist out there that can be used to ensure that I am on track and can check off before I retire? There as so many "remember to do this or else" . I can see if we were getting hefty pensions, sheesh.

[@PlanYourFederalBenefits]

I'm happy these videos are helpful for you. And yes, there are so many little and big things to know during your career and especially in retirement. If you would like to go through a personalized checklist, you can schedule a one-on-one appointment with us: hawsfederaladvisors.com/work-with-us/

[@jhjax99]

Regarding a Survivor benefit. If I marry in retirement, can I then elect a survivor benefit? Thank you

[@PlanYourFederalBenefits]

Great question! The short answer is yes. Here is a video that goes over that question: kzbin.info/www/bejne/q6S0apqunt2Le7s&ab_channel=HawsFederalAdvisors

[@C2OPercent]

Dallen - can you better explain how TSP matching works? I'm slightly confused. Do they match 5% of your salary or 5% of the max TSP contribution. Meaning, are they contributing more for some employees and less for others? And, could you use a easy, round # to break down the % - I think it's dollar for dollar the first three %. Then 50 cents on the dollar the next two %, correct? And, could you clarify whether the Secure 2.0 Act does in fact let employee place that matching into the Roth TSP and whether you think the USG will adopt that? I know that's a lot. I'm ~20 years from retirement, but your Podcast has been super helpful. Thanks!

[@PlanYourFederalBenefits]

Great questions! If you contribute 5% of your gross wages to the TSP, then the federal government will contribute 5% as well. The governmental contribution consists of 1% automatically, 3% matching your first 3%, and 1% matching half of the next 2%). I hope that makes sense. As for contributing into the ROTH TSP, here is a great video about that: kzbin.info/www/bejne/n33NpnuvpdKHZ7s&ab_channel=HawsFederalAdvisors

[@wallys7016]

Yeah I’m not tracking on the survivor benefits. In particular, hook 2. What does insurance have to do with pension benefits? I’ve never heard until now that you had to have elected survivor benefits I.e. pension to keep FEHB for your spouse. Any literature on this or a link to look up? Never heard of this…

[@PlanYourFederalBenefits]

Great questions. Here's a video that discusses that a little further: kzbin.info/www/bejne/fKPbhXiql9CNZ7c&ab_channel=HawsFederalAdvisors

[@mikedv39]

I'm interested in Taking out a 4% annual broken down to have a Monthly payment with out giving up my Money How is this done? Meaning a Monthly from my TSP ( I am aware of the 20%tax) Thank You Mike V.

[@PlanYourFederalBenefits]

Great question! I have a video on that. But, if you would like more direct help, you can also schedule a meeting with us. Video: kzbin.info/www/bejne/l3PRp4pojMaSnMk&ab_channel=HawsFederalAdvisors Meeting: hawsfederaladvisors.com/work-with-us/

[@armyleegreen]

Just wondering if an individual doesn’t do tsp annuities how does taking small withdrawals out of your tsp work. Can you setup automatic withdrawals etc.?

[@PlanYourFederalBenefits]

Great question. Here is a great video on that: kzbin.info/www/bejne/l3PRp4pojMaSnMk&pp=ygUcdHNwIHdpdGhkcmF3YWxzIGhhd3MgZmVkZXJhbA%3D%3D

[@edhcb9359]

Most government pensions have a survivor benefit built in without a reduced payout upfront.

[@celticmco5672]

Not the U.S. Government.

[@edhcb9359]

@@celticmco5672 Which plan? FERS?

[@pattyk8594]

If you are single when you retire and do not select survivor benefit then later get married, are you allowed to make a change to select survivor benefits?

[@David-cv3bp]

Yes, but you have a certain period of time to do it. There is info on the OPM site.

[@zenawarrior7442]

Great info again. Thanks! 😊💰The TSP loans can be great except for those dang tax consequences!!

[@David-cv3bp]

You can’t take a tsp loan in retirement

[@zenawarrior7442]

@@David-cv3bp I never said that. I meant before retirement.

[@PlanYourFederalBenefits]

Thank you for your support!

[@zenawarrior7442]

@@PlanYourFederalBenefits 😉👍Welcome!

[@jskuether]

If you have a FERS survivor benefit and the designated survivor passes before you, can the survivor benefit be cancelled? If not, what happens next? Do you have to designate a different survivor?

[@Royale_with_Cheeze]

You become an entity of OPM and no longer part of your employer. In OPM, you notify them of the passing of your elected survivor. You likely need a copy of death certificate.

[@ETjim]

Short answer, yes. Retirement benefit increases to 100%.

[@b.coxemba6799]

​@@Royale_with_Cheeze yes you cancel the benefits. If you remarry you have up to one year to enroll in the benefit again.

[@danieljustdaniel9550]

Is it correct that if you have the Basic life insurance and have no reductions that insurance will stay with you till death?

[@PlanYourFederalBenefits]

Yes, that is correct. Great question.

[@peterling1303]

How many sick leave hours equal one month added to your pension?I currently have 1748 sick leave hours and planning to retire in December 2025

[@PlanYourFederalBenefits]

Great question. It would be worth 301 days of service (about 10 months). Here is the calculator if you need it: hawsfederaladvisors.com/converting-unused-sick-leave-to-years-of-service-conversion-calculator/

[@user-lg8oe5mf9h]

If u make an annuity but die in year 1, what happens to the balance of the annuity?

[@Royale_with_Cheeze]

If you have a surviving spouse beneficiary, that spouse gets 50% of your annuity for the remainder of his/her life.

[@user-lg8oe5mf9h]

thanks for the reply. but im not refering to the annuity u get from retirement but im talking if u make an annuity from your tsp account. lets say u take $200,000 from your tsp account and die the 1st year after. what happens to the $200,000 in the annuity. its different from your annuinty from retirement@@Royale_with_Cheeze

[@vivianrobles4014]

Do your services include assistance in completing retirement paperwork?

[@markmurrell1894]

If he doesn’t answer you, fyi, Profeds has a website and can show you a free seminar that they could have in your area. I went to one last year and a financial planner in my local area that specializes in federal workers was there to answer any questions. Check out their website

[@vivianrobles4014]

Thanks!

[@David-cv3bp]

The forms are not hard to complete.

[@PlanYourFederalBenefits]

Yes, we offer that service as well.

[@celticmco5672]

Just fill it out it is not hard; your agency will review it prior to being sent to OPM and work with you if there are any issues.