Plan Your Federal Retirement Podcast

Understanding how to navigate taxes in retirement is crucial for preserving your hard-earned income. From Roth conversions to Qualified Charitable Distributions (QCDs), implementing effective tax strategies can significantly impact your financial future. Recognizing the importance of Required Minimum Distributions (RMDs) and the Income-Related Monthly Adjustment Amount (IRMAA) will empower you to make informed decisions about your retirement income. Join Micah and Christian as they explore vital tax planning strategies that can help you manage your retirement finances effectively. They cover key topics such as the benefits of timing your withdrawals, leveraging tax credits, and minimizing your taxable income. You’ll learn about common pitfalls to avoid and gain practical insights to enhance your tax strategy. Protect your retirement savings from excessive taxes. Explore ways to build a tax-efficient strategy that enhances your income and supports your financial aspirations. Begin your tax planning today to pave the way for a secure and satisfying retirement! https://zurl.co/fiiS

Yes, my name is Martha, and I tune into as many of your podcasts as I can, for your valuable information, I have a question regarding part time work previously, I thought that each year of part time service counted as a full year towards my years of principal service. But I was listening to a recent podcast by JT titled How to ensure all your years count towards credit creditable service and at around timestamp, four minutes and 14 seconds, he says something that goes against what I previously thought. So I have several years of part time work. I thought I could retire at my minimum retirement age and 30 years, even though I have all those years of part time work, as long as I paid FERS and FICA every year, of course, but he makes it sound like it's more of a proportional thing with the principal years of service. I do plan on hiring your company to do my retirement application processing, about a year before I retire, but now I'm not sure when I should be contacting you for that process of try and get some clarification. I do appreciate your help. Thank you. - Martha    https://zurl.co/BtLf

Planning for your retirement requires a solid understanding of your options. Discover the best strategies for managing your Thrift Savings Plan (TSP) and learn how to access your funds without facing penalties. In this episode, Micah and Christian discuss vital topics, including various withdrawal options, the significance of your FERS benefits, and techniques for reducing tax implications. Understand the rules around TSP distributions and how to make informed decisions about your retirement savings. Find out what to prioritize in your retirement planning to ensure a smooth transition into this new phase of life. Tune in for valuable insights and take control of your retirement strategy today. https://zurl.co/GMvs

If you have a birth month of Jan ro April, and the year you obtain age 61, you exceed the earnings limit, how is that overage paid, since you will have obtained 62 by the reporting time and SRS will have ended, thanks for the great podcast, I am claiming 1 million Feds reached right along with you. - Chris    https://zurl.co/R9H4

FERS supplement annuity. I retired from SSA under the 25 years of service at any age in 2014. I was told I would be eligible for the supplement when I reach my MRA 56 and 6 months, which was this 06/2024. I have not received or heard anything from OPM. I’m just trying to verify I am eligible. - Karren