Episodes
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In retirement, FHB premiums are taken out of your pension, but not all other deductions. Different parts of your pension have different rules.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
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We want to highlight the importance of asking questions about retirement benefits, such as net pension and social security amounts, maximizing income and minimizing expenses, and tips to increase benefits. Attending workshops can help individuals ask the right questions to maximize their retirement.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
Episodes manquant?
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Remember to take in consideration the diferences between FEGLI and private life insurance, emphasizing that the best choice depends on individual circumstances. There is the option to increase FEGLI after certain life events, but we also suggest evaluating the cost and value of private life insurance. We want to highlight the importance of regularly assessing one's insurance needs and adjusting policies accordingly.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
We want to share our advice on the best day to retire being the last calendar day of the month for maximum benefits. Contrary to HR suggestions, retiring at the end of a pay period may not be in employees' best financial interest.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
The workshop on retirement benefits is far from boring; participants express surprise at the engaging content, with comments like "great presentation" and "I feel like such a newbie." We want to emphasize the importance of taking action after learning, we ensure participants will stay awake, engaged, and motivated throughout the workshop!
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
In federal workshops, it is crucial that the individual assisting with retirement planning comprehends Federal benefits to avoid costly mistakes common with generalists lacking specific expertise. We emphasize the necessity of seeking help from professionals with experience in dealing with federal employees to leverage insider knowledge and maximize benefits through various "hacks." My non-negotiable advice stresses the significance of understanding Federal benefits when crafting a retirement plan, highlighting the potential pitfalls of relying on generalists unfamiliar with the intricacies of federal employment.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
A valuable lesson for retirement planning we'd like to emphasize is the need to not only learn about benefits but also ensure proper execution to avoid wasted efforts or ineffective strategies. Just like in workshops, in retirement planning, it is essential to have guidance and validation to steer towards the right path for a successful outcome.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
n discussions about survivor benefits during a workshop, it was clarified that once retired, individuals cannot easily rejoin the benefits system later. There might be a workaround through marriage. This highlights the importance of making informed choices during retirement paperwork as each benefit has unique rules and exceptions.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
We talked about the importance of considering Medicare Part A and Part B eligibility and penalties when planning for retirement healthcare. We want to emphasize the necessity of making informed decisions early to avoid unnecessary costs and ensure adequate coverage. Additionally, remember the significance of evaluating other healthcare options like TRICARE to optimize benefits and minimize expenses.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
By understanding what deductions are made from the pension before it reaches their bank account, people realize the need for additional retirement savings. Taking proactive steps to adjust, optimize, and plan for retirement can lead to a more financially secure future compared to solely relying on government support.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
We wanted to discuss the ability to stop paying the monthly premium for Medicare Part B at any time without penalty, highlighting the importance of considering the potential consequences of dropping coverage. We'd like to emphasize the complexity of Medicare rules and the need to understand the specific guidelines for each benefit to make informed decisions.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
Something to consider when planning for retirement is how to convert a regular TSP to a Roth TSP to avoid taxes in retirement. However, the TSP does not allow this conversion. Moving the money to an IRA and doing a Roth conversion can help save on taxes. It's important to plan when to be taxed in retirement.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
We want to emphasize the importance of asking questions about taxation and retirement planning, highlighting that no question is dumb. By questioning whether pensions get taxed, individuals can uncover a broader understanding of how taxation impacts their income and retirement benefits. The encouragement to ask questions and seek knowledge ultimately leads to a more informed approach to retirement planning.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com
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Federal employees can fully retire at 62 with 5 years of service minimum, or at 60 with 20 years of service. For the Furs retirement system, hitting the minimum retirement age and having at least 30 years of service is crucial, but there is no penalty for retiring at 62 with less than 30 years of service.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better. -
We like to emphasize the importance of not solely relying on general rules or emails for retirement decisions, using the example of potential penalties for retiring at 57 with a pension. While there may not be a direct penalty, the delay in receiving a cost of living adjustment until age 62 could be seen as a detriment to one's finances. The key takeaway is to carefully assess individual circumstances and make informed decisions rather than following broad guidelines.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
The decision to take Social Security benefits at age 62 comes with considerations about potential increases in the benefit amount. While taking benefits locks in a certain price, there are still annual cost of living adjustments that provide incremental increases. The decision between taking benefits early and waiting for larger increases involves careful planning to ensure receiving the maximum amount deserved.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
Federal employees often worry about their financial security and healthcare options in retirement. It is crucial to plan ahead and make informed decisions to ensure peace of mind throughout retirement.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
We discussed the necessity of having a Qualifying Life Event (QLE) to make changes to one's insurance policy, specifically focusing on the need for a QLE when increasing the coverage. It emphasizes that events like birth, marriage, or death qualify as QLEs, while retirement does not. Additionally, it warns about potential cost increases in insurance coverage every five years and advises viewers to evaluate if the added coverage aligns with their financial needs.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com -
RMDs (Required Minimum Distributions) apply to traditional TSP contributions, where the IRS mandates withdrawals based on age to collect taxes. In the past, RMDs were also taken from Roth contributions, although it didn't align with taxing Roth accounts. However, the law has been updated to only require RMDs from traditional TSP contributions, making the process more logical and in line with tax principles.
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Understand the intricacies of how part-time work counts towards eligibility and benefits for federal employees with our video. While part-time work does count towards eligibility, the calculation for benefits considers the hours worked over the entire career, resulting in a prorated amount. Despite confusion, working part-time for a significant duration can still make an individual fully eligible for benefits at a certain age.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
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