FEHB

38

#38 – Buy Back, Secondary FEHB, IRA vs TSP ( Part 1)

, , , , , , , 0

Buy Back, secondary FEHB, IRA versus TSP Part one.

This is Fednobabble.com, where Kevin and Cassie make federal retirement benefits understandable for humans like you. These two don’t hold back as they answer questions from the Fed Pilot workshops and webinars or from questions submitted by you at Fednobabble.com.

Hey, Kevin, how are you? Good, good, good, good to get to some of these questions again. We’re starting a part one, part two, we’re starting a part on TSP and IRAs.

This is going to be fun.

Yes. IRA versus TSP series. I love it. Yeah.

Let’s do question number one. Can I buy back time for my agency? Yeah, for my agency from work in the 80s, this person had five years, four months to make it possible to retire this year. I’m assuming that that five years, four months puts them up, you know, for example, up at the 30 year level or whatever it may be. But I think the essence of the question here is, can I buy time back for my agency from work in the 80s?

What do you think? Well, the short answer would be yes, if your first any time that you had a prior to one one of eighty nine you can make a deposit for.

I’d have to look at the rules for CSRS, we don’t have very many of those anymore. That’s rare.

And if this person is looking at eligibility to be able to retire this year, I’m going to assume that they’re not serious because most of those guys are already eligible to retire anyways. And so, yeah, we’re just going to answer this for FERS right now.

Yeah. You know, so you say the short answer is yes. And I would agree. But again, always it depends, doesn’t it? And there are certain things where you may not be able to buy it back because it doesn’t fit certain criteria. So but typically the answer would be yes. But again, that’s something to dove into and then at that point, so we know this is five years and four months. Do you have the money after all of these years, interest included, to be able to buy it back?

Do you have the cash? Well, you know, not well, I guess, really, it would have to be cash, because if you’re going to retire at the end of this year, it’s not like they’re going to be able to take out enough out of every paycheck to buy it back by the end of the year, possibly. I don’t know.

But I it would depend on what the debts owed. And another factor that people don’t think about is how is it going to negatively affect my pension?

Wait a minute. Wait, hold on a sec. Are are you saying. Oh, OK. So are you saying how will it negatively impact my pension if you don’t buy it back or if you do buy back? If you don’t, OK, and if you do, we need to make sure that it’s going to be fine, like if you’re not. So what we look at when we’re considering a buyback for somebody who’s had Non-deduction service in the eighties is how much?

Well, anybody who owes a deposit or redeposit, really, we’re looking at a couple of different factors. And that’s how does it impact your pension amount? Right. Because we need to know, OK, if it makes you eligible, how much are you going? How much more are you going to get in your pension? OK, and then how much is your deposit? And we take those two and divide them up to find out how long it’s going to take you to recoup that money in retirement.

If this person is 70, well, they’re probably not 70, but if this person is looking at being eligible at, you know, fifty seven or sixty or something to that effect, where they’re looking at having that time being counted towards their 30 or 20 years of service or getting that to that point.

OK, well, if you get to that point, is it increasing your pension enough or rather should you wait till, you know, fifty eight or fifty nine or whatever that age is for you? How much longer do you have to wait, how long is it going to take you to recoup that benefit?

If it takes you 10 years and say you have health issues or something, are you going to make it worth it. There you go.

To be able to get the benefits of buying back that service. If it takes you two years to buy it back, then that’s probably worth it.

Right. But we have to distill down how long it’s going to take to recoup that money and figure out if it’s financially advantageous for somebody to to to make a deposit. Just because you’re eligible doesn’t mean it’s worth it.

Yeah, that that’s exactly where I was going. I think the two first words of this sentence can I are very telling. Can yes. Most likely. Should you again, we keep coming up against that. And it’s strange because people think, can I. OK, then I’m going to go do it. Well, then what they forget to ask is, should I? That should be the follow up question every single time. Can I do it?

Yes, you are eligible. Should I? That’s a completely different question. And a lot of people just assume that because they can, they should. And not only in this situation, but in all of the other benefits, a lot of other things as well. So I actually I have the opposite. People that really maybe think that they can, but that should not, and so they’re not taking into consideration that it might be really financially advantageous for them to do.

And a lot of times I see this with military service. I know this is kind of just for instance, the whole I’m retired military and I’m getting a thousand dollars or twelve hundred dollars, you know, and they think, well, my military pension is going to be better than my federal pension. Well, that’s not always true. If your income is higher with the federal government than it was when you were in the military, in the military, it might be worth it.

And furthermore, if you’re not retired. And how else are you getting credit for that military service? Mm hmm. I think because you’re not going to get credit if you’re not retiring from the military. You have the service and a lot of people think that it affects the VA benefits, but it doesn’t. Right, right. And that’s strictly federal stuff.

Yeah, that’s a good point. Yeah. And I called so I call these shortcut phrases where where you’re you’re told, for example, you should if you retired from the military, you should not buy your time back. OK, you know, whether you can or not doesn’t matter at that point. It’s I shouldn’t. Well, you don’t know that. You don’t know that. And that’s a rule that people say that isn’t actually a hard, fast rule where it might be really, really good if someone actually did buy it back.

So, yeah. Yeah. You have to check.

Yes. Yes. Right. Well, you sure. But I was told I shouldn’t buy back my temporary service and then people think that it’s not worth it for them either. And of course, that spreads like wildfire. And that doesn’t necessarily mean that you shouldn’t. That just means that that person shouldn’t. Right. And we have to think you’re different. I have to do this to my kids. They’re twins. I have to teach them individuality.

What, you are different than your brother or your you know, your coworker because of many different factors. And so figure it out for yourself. Yeah, OK.

That’s a great example, though. I love that you are your own individual person. You need to figure it out on your own. Yeah. All right. Next question. How does Medicare work? If you work receive private health insurance, it becomes secondary, right? Is it any is is there any downside to this? OK, private health insurance. What do they mean, like not FEHB?

Yeah, FEHB and Medicare.

So let’s let’s take this as Medicare and FEHB and let’s call that private life insurance. I should I should back up so anybody with private health insurance, whether it’s FEHB or not, Medicare typically pays first. Right. And then your plan is secondary. So the short answer is yes. Your private insurance plan, whether FEHB or not, is going to be secondary. Is there any downside to this? Yes. Not all doctors except Medicare.

Right. Ding, ding, ding, ding. Right there. Yeah. People think that just because their doctor that they automatically accept Medicare, but they don’t realize that when they’re considering Medicare that not all doctors will take it. And it’s just like any other health insurance plan. Not all doctors are going to take Blue Cross Blue Shield or not all doctors are going to take Aetna or what have you. Group Health or Kaiser Permanente or whatever their you know, you can only go visit their clinics.

And so it depends on the type of plan that you have privately on what doctors you can and can’t see and check with your doctor, you know, and find out if they accept Medicare, because if they don’t accept Medicare, then your plan is going to be primary. If they accept your plan, mm hmm, yep, and and another downside, I would say, is that some people so obviously when you have Medicare and you have, for example, in FEHB plan, FEHB plan, you are paying two premiums.

Now, the reason people do that is because typically I don’t want to say even typically, but it’s very possible. And in a lot of cases, it’s really possible that the overall cost of health care will be less if you do those two things. But if you don’t have enough money to pay for two premiums, you can’t do it. So the downside is that you’re almost, in a way, have to pay up front for a lower, lesser amount.

And again, going back to what was the last episodes when when we’re talking about people coming out with a negative, you know, retiring and having a negative pension amount, well, then in that case. Oh, my goodness, what do you do there? And it’s just going to get worse from that point on, so. Right. Yeah, I mean, you know, it can go both ways. Are there downsides? There are always downsides.

There are always downsides to everything, even if it looks golden. If you’re in some senses, I mean, that’s just the way it is. So, yeah, so again, is there any downside to this? Sure, but I can’t tell you what that is because I don’t know what kind of plan you’re in and how prominent Medicare is in your in your area. And if you’re going to travel or not travel, there are a number of different factors that come into play to a person’s situation that you have to think about.

Are you going to be internationally traveling because then Medicare is not going to cover you or or very minimal coverage?

And does your plan cover any outside international, international or any domestic traveling that you might do?

Right.

For instance, again, Kaiser Permanente, typically those are regional, like you have to stay in your specific area to have coverage. Unless you’re traveling to a place where they have one of those clinics, but if you don’t, what do you do then?

That’s a good cover. Yes, that’s a great thing to bring up, because when I ask, hey, what do you you know, at the beginning of my workshop, I say, what do you plan on doing when you retire? The number one answer is travel by far. And and a lot of it is overseas. A lot of it is obviously out of their area. And if they don’t have a plan that covers them out of their area, even even state to state, then that could be an issue.

But people don’t typically think about that. That’s that’s a really good point. I hadn’t quite thought of that. OK, now this is IRA versus TSP, part one to maximize someone asked to maximize what can it be best to do, a Roth IRA and do a traditional TSP? So basically what they’re saying is, wouldn’t it be best to do my traditional piece of my savings in the TSP and then the ROTH in the IRA? I don’t know as far as my understanding is, and again, I want to clarify, we are not financial advisers.

We do not have certificates or licenses to give any sort of financial advice. We are simply here to tell you to explain rather different pieces of how something may work. Whether that works for you or not, we don’t know number one and number two, we can’t tell you what’s going to be best, right? So a Roth IRA, there are some limitations compared to being able to contribute to the ROTH, TSP and having the traditional TSP, so you have to look at that.

There’s different, I think, income limits and things like that as far as how much you can contribute to an outside Roth IRA. But if your income is high enough, it might not be an issue for you.

That might be something that you want to look into. And there might be other benefits that go along with a Roth IRA as opposed to doing the traditional TSP or doing in addition to the traditional TSP. Right. So what are those factors look like for you? Are there living benefits? Are there other. I prayed for not just the taxable income, and that might be where the Roth IRA is more beneficial than the ROTH TSP. Mm hmm.

So it depends on that person and what their situation is. Again, it boils down to the numbers. Yeah, it all depends every every single time, doesn’t it? And I think so. I’ll just say this to the in answer to the question. If you’re if someone is if someone has, you know, is putting money in the traditional TSP in a Roth IRA and taking all the ROTH and putting it money and putting it in an IRA instead, then the money that they’re not putting into the ROTH TSP they’re not getting a match on unless they’re maxing out their well up to the five percent.

I’ll say if they’re you know, if they’re doing it, if they’re not doing the full five percent into the TSP, a traditional TSP, then the money that they’re putting into the Roth IRA could have been matched in the ROTH TSP. Yeah. And so. Right. And like you said, and there are there are income limitations and there are other things that we have to be there are differences. And and I have heard this over and over again.

I remember someone in one of the workshops gave me negative feedback, said you’re trying to do all this. You know, he was he was accusing me basically of of trying to steer people to an IRA. And I’m like, no, he said, because IRAs work the same as the TSP. And I’m like, and that is where you are wrong. They they do in some ways they work the same, but in other ways they are completely different.

And it’s important to know where they are the same and where they are different and then how to take advantage of them. But to assume that the TSP works the same as an IRA is so completely wrong and right. There are strengths and weaknesses.

The both of them all say that it’s not really yes, the TSP. It’s got great fees as opposed to a regular IRA.

However, actually, let me stop you right there real quickly there. Yeah. Yeah, there are IRAs that I mean, and that’s what a lot of people say, is that, you know, TSP cost so much less. And then the financial professionals we talk with are like, well, it depends what you get into. There are some that are actually cheaper than the TSP as well. And people are know what? Yeah, actually, yeah, there are.

Yeah. So.

Well, hold on. I wasn’t finished though. I’m sorry. Sorry, sorry. You have to consider each of the other features to you. Yes. But IRA as opposed to the TSP like for instance somebody who is a special provision employee who is going to retire at age 50 or a regular employee who’s going to retire at 57. Right. They’re going to have the availability to draw a portion of their TSP penalty free before age fifty nine and a half.

But then again, on that flipside of the IRA, you have other features. You have living benefit features for chronically and terminally ill most of the time, I should say, because that’s different for every state.

Exactly right. But there are other my point to that is there are other benefits of features within an IRA that might be more beneficial to you than keeping money in the traditional TSP or maybe having both.

Yeah, so. That’s where you really have to talk with somebody who understands all of those different intricacies of the products that are offered or your state and who understands the federal benefits, who is going to be able to coordinate all of these different features for you and and get you the answers that you’re looking for, because it also depends on what your goals are in retirement and what you need.

Mm hmm. So all of those different factors and then some is what our financial advisers help with, and I was so happy to have them as a resource for employees because like I said, when I’m on the phone with them, they’re able to ask me so many other questions and we can kind of get into a specific case on the nitty gritty of it and really distill down what that person needs and what that person has or doesn’t have. And again, that’s going to vary whether they’re 30 or 60.

Right. So just depending on your age, it could depend on what a financial adviser, what you should or shouldn’t do.

Right. So go to Fednobabble.com, reach out to us. We’ll get you in touch with a financial adviser who’s going to be able to answer these questions for you. But before they answer the questions, they’re going to get you a benefits report as well. Then we got to find out where you are to to know where you’re going.

You’ve got to have a you know, you look at a map. You got to and you’ve got to find out where you are to know and then take a look at the different roads that are available and figure out which one’s the best one to take you to where you need to be or what your goals are and what you’re looking at going. So we do we have to do enough for retirement to we have to take action and figure out where we are and plan the path to where we need to go.

Right. That’s a lot of money. So exactly. So that’s good, good. All right, thanks. And we’ll see you in the next episode, everyone. Take care. Thanks, Cassie. I Kevin. To get Cassie’s comprehensive report on your federal retirement benefits at no cost, no obligation and no sales pitch, go to Fednobabble.com while you’re there, submit a question for them to answer on the show.

 

37

#37 – Chronic Health, FEHB Drain, Mortgage Pay off

, , , , 0

Chronic health, FEHB drain, and mortgage payoff, all on today’s Fednobabble.com.

This is Fednobabble.com where Kevin and Cassie make federal retirement benefits understandable for humans like you. These two don’t hold back as they answer questions from the Fed Pilot workshops and webinars or from questions submitted by you at Fednobabble.com.

Well, welcome, everyone. Hello, Cassie. Hello, Kevin, how are you today? I’m happy because we get to answer a whole bunch of great questions, that, boy, these questions come up all the time or these issues, I’ll say, especially with this first one, it’s more of an issue than it is a question.

So look in. All right, best time to retire for an employee with chronic health issues at 62 or a stretch as far as possible toward full Social Security at sixty seven.

So I the reason I chose this question is more we’re not going to really answer this because obviously it depends and there’s no way to know. There’s just no way to say, well, Eli, there’s no way for you and I right now to answer this and say this is what the answer is. Now, again, you know, a financial professional or a trusted network would be able to dove in and say, OK, here, here is everything and then do it and that’s fine.

But this is not a general question. This is very, very specific. And a lot of people don’t think about chronic health issues. Well, not only that, but I would say it depends on a lot of other factors, too, like how many years of service do they have as a federal employee? What is their pension going to look like? What is their financial situation going to look like? Do they have to.

Yeah. Are they married?

What exactly can they take? Like, do they qualify for some living benefits in Feigley or something like that? Where the. Or other policies, for instance, that they may have other injuries or life insurance policies or things like that, like what is this chronic health issue? What are the chronic health issues and what do they qualify for as far as money coming in to where you can spend time with your family or what have you? Because who knows, maybe if you’re at fifty seven and you got 30 years of service, then you want to fully retire earlier than 62 and take that special retirement supplement benefit because you have other sources of income coming in and you guys can make it financially and you want to spend that time with your spouse or loved ones, family members or friends.

Yeah, right. So I really think this is a case by case scenario and it depends on, you know, not just whether or not you have a chronic health issue, but then, you know, the income part of it. And what is the insurance part like? What are your you know, whatever your health condition is, who’s paying for that? Are you eligible to continue FEHB and have that as a as a resource question?

Are you going to get into Medicare at sixty five? Are you going to last that long? And I don’t mean that to be rude, but that’s just. But it’s a public health issue, right. Yep. How chronic. How terminal.

Right. Is this is to people though. I mean especially those who are younger. Don’t think that there’s going to be an issue, and so they march along, march along march along until all of a sudden something happens like what the heck? Now I have to plan for this. It is so much easier to be able to kind of create a comprehensive plan and then change rather than go into panic mode and go from, you know, I’m fine to oh, no.

Now I have to plan for something completely. Well, I mean, now I don’t know what to do because I set myself up in a situation where now that I have a chronic issue, I, I, I was about to say dead in the water. But that’s but that’s almost true, too, right. And so, yes, I know last night my my my wife and my my girls love watching these. They have like three or four doctor shows that they like watching.

And so we were watching one of them and this woman came in with she said, I have this disease and they’re like, OK, and they’re treating her and she’s having issues. And she got her and her boyfriend got married immediately. I mean, when they realized she was going down. And so they’re doing making all these plans. And then the doctor’s like, wait a minute, hold on. And they did some more tests and they said, you don’t have that disease, you have something else and you’re going to have a long life.

Yeah, you’re going to have to deal with some things, but you’re not going to die any time soon. You’ve got who diagnosed you. And she goes, well, I just did, because it was all the symptoms and my dad died of it, so I assumed that I had it. No, you don’t. Oh, my goodness. I mean, completely. And that’s the way I feel like the whole financial thing is, is, well, this is what I’m going to assume is going to happen.

And then life changes. And that’s no, that’s not what’s going to happen either for shortening the life or lengthening the life or whatever it may be. But these are we need to start planning ASAP because we don’t know what’s going to come up. So we’ve got to have something there. Yep, that’s exactly true. I mean, a few years ago, my husband got in a motorcycle accident life situation, right. And that changed immediately how we were going to move forward for the next six months.

I mean, it’s still changed what we’re doing, because physically now he has so much metal in his body that it changes how he acts.

He acts like a robot. Is that what you’re saying? Because he has so much metal? Are you saying that he looks like a robot because politically he can’t he can’t do as much.

Right. And he can’t last as long outside and things like that. I mean, those day to day things that we take for granted being healthy. That if something were to just. Slightly changes. What does that look like? Yep. You know, I mean, there are so many different things that I think people don’t. They just think, oh, it will never happen to me, right, kind of like a federal employee and my benefits will take care of me in retirement.

Yeah, I’m always the case. And, you know, it’s we just don’t know what’s going to happen. And so we need to plan for worst case scenario. Best case scenario, what does that look like? And then we’ll be covered and maybe make a play in it, you know, I mean, we can’t play forever. We can’t plan for every situation, but. If we can plan for those two different factors, best and worst case scenario, that if we fall somewhere in between, we’re going to know exactly what we need to do.

Right. And I think that’s I think what you said actually is a good Segway into the next question. Why don’t you read that one? And let’s let’s talk about this. OK, generally speaking, is the first retirement payout sufficient to pay for continued federal health benefits?

I don’t know. Yeah, it depends. You’re right. You’re right. You don’t know, because here’s another great example of things change in the workshops I talk about. You know, we give an example and an example. Employee gets twenty six thousand dollars a pension each year. But but I say, OK, now you realize, although that’s what the number says, that isn’t actually what you get. And then we start going out and talking about that’s what you get.

But then you take away this, you take away this, and then all of a sudden people start realizing that, oh, my heck, at some point. I’m going to have more deductions that I am going to have pension. And and those that work and that complete, that’s a complete change. I mean, you know, before we’re talking about health changing, this is a this is a money change, although nothing really changed in your life, it the whole money situation changes at that point.

And so there could be a time when you’re actually although FEHB is taken out of your pension, that you may have to start paying for your FEHB out of your pocket because it may the deductions may be more than what you get in your pension. Have you seen that in some of the reports or some of the things that you’ve dealt with? Yeah, actually, there is a few times where people have a negative net because of their elections starting off, because of their early elections and their fear premium on top of what their pension is, because think about it, if somebody is retiring at 62 with five years of service or 10 years of that high three, if the high three is not high enough that it’s not covering those deductions, depending on what the elections are.

And if you’re sixty two, who knows if you qualify for certain, you know, life insurance policies or what have you outside of family at that time. I mean, I dealt with folks who are 50 and fifty five and can’t qualify for other life insurance products outside of family. And so I think people again, they take that for granted when they’re younger and they think, oh, the government’s going to take care of me while I’m retired. And they don’t think about yes, they will.

But it’s still going to be at a cost like they’re not providing these benefits for free.

Mm hmm. You still have to pay for them. And then we need to look at also, though, what are the other expenses that we have as well? I mean, not just the federal benefits. And one of their income sources that we have. Mm hmm. Right. That we can tap into maybe we have to start collecting Social Security at 62 rather than waiting till sixty five or sixty seven, because financially our pension isn’t enough to cover our other expenses.

OK, I want I want everyone to understand this. I want everyone to understand exactly what Cassie is saying. Please understand that there are circumstances where starting off your pension, it is possible for your pension not to pay for everything and you will actually have to pay out of pocket for some of the things you need starting from the very beginning. I Cassie no one thinks about this. No one now has a clue that this might ever happen to them, which is why it is so important to understand this way before you go in.

I cannot imagine the reaction of a federal employee who is all excited about retiring retires and then realizes they don’t get their pension, but they have to pay out to get what they need. That is a completely different set. That is a different life than what they thought they were going to have for the rest of their life at that point. Right.

And go back to the previous scenario where they have chronic health issues or something. Right. If you added in an FEHB plan where they’re paying more for the plan because it’s covering more in their region or their whatever rate they pick, the best plan that works or what they need. For those chronic health issues and their prescriptions and all of these other things. Right. But then they get to retirement and they realize my pension is going to be enough to cover my FEHB premium, I have to select a different plan or else a lower plan coverage, but then you’re paying more out of pocket.

What does that look like? Right, right. Right. How are we going to juggle all these different financial situations if you have to pick a lesser plan? Or a different plan that has lesser coverage, rather, does that mean how much more are you paying out of pocket for that coverage that you need for those prescriptions that you need? Mm hmm. What’s the difference? And is it worth it to even do that? Right. Right. Like, there are so many different scenarios and these are the types of topics that financial advisers in our trusted network will talk with people about.

I don’t know how many times I’ve been on the phone with those advisers that I’m talking to them about how TRICARE coordinates with FEHB or how, you know, what is the difference between a self plus one and a cell phone option or a cell phone family itself plus one option. And why is there a premium five hundred dollars a month?

How can an FEHB premium be five hundred dollars a month, you know, and then, well, they’re on an HMO plan rather than this plan, and they don’t realize that it depends on the type of plan and coverage that an employee needs. And so they really have to just drill down on, OK, if an employee is in a situation where their balance or their pension is negative, even if they get rid of their family because they’re trying to get as much of their pension as possible, who isn’t then they need to look at possibly switching their FEHB plan.

What are the different considerations that they need to be looking at? And these financial advisers are on the phone with me to ask me that. So that way they can go back to the employee and really distill down, even though they’re not making anything off of it because they’re not covering health benefits or even, you know, entering people into these policies because they have coverage with FEHB. It’s just a simply an educational conversation. Of how we can maximize somebody’s pension and get them what they need, so that way they’re not having to do with a negative pension balance or owing the government money, because who wants to do that in retirement or life?

Right. And they’re taking a look at, OK, what is all of these different factors that come into play here and how do we put all these pieces of the puzzle together so that we can help the employee have the best of their retirement? Because that’s our ultimate goal. That’s so the the issue I just keep thinking, you know, we’ve only hit two questions. We have just a couple of minutes for the last question, but things that people just don’t think about now, this next question is different because people do think about this one.

But the two questions we’ve had so far, people don’t think about or don’t consider typically until it happens. And then you’re and then it’s panic mode, trying to figure out what to do and skip the panic mode. Let’s skip that and just be solid on what we’re going to do ahead of time rather than trying to do it at the last minute. Oh, boy. I mean, I know I teach this team. I teach that to my kids all the time.

Be prepared. Right. Be prepared for anything that comes along the lines. You know, if you want this in the future, make sure that you’re set up to get there, not just assume that it’s going to happen. And yeah, but but I know we’ll have to say, I don’t I don’t think it’s so much a factor of federal employees. I you know, you darn federal employees. How can you do this? I think it’s more of a factor of the culture within the federal government.

Is the government going to take care of you? And that’s what they go by. And and we have to realize that that isn’t quite. True, unfortunately, right. OK, so let’s see. Should I seek to pay off my home mortgage before retirement? Yeah, I don’t know, right, how much you owe. Are you going to downsize, sell your house to downsize? Yeah. You may not want to pay off the bigger mortgage if you’re going to gain enough to be able to pay for a house and have a mortgage.

Yeah, if you’re going to have enough equity and profit coming from your your other house. Right. So I don’t know. It depends.

It really does depend every time. I mean, each one of these questions today. It depends. It depends. It depends. And honestly, to tell you the truth, in the workshop that I do, most of the questions that are asked on the webinar in the Q&A section are it depends just about every time. And and I can understand why people won’t say what do I do with my with my mortgage, for example? What do I do specifically?

Well, people you know, it really depends because you’re right, I’ve seen people take out a mortgage in retirement because it is financially better. And so in their situation and people think, well, how can that be? Well, you know, according to taxes and all and write offs, et cetera, et cetera, there are circumstances where that happens. So everyone has to figure out their own. So, again, it depends. So from that, because it depends, of course, if you would like to report that Cassie, by the way, puts together and she is awesome at putting these things together, just go to Fednobabble.com and get it.

Any last words of wisdom here? Cassie. Take action. If you are thinking about these questions or if you have pondered, you know, thinking about them yourself or if you know of somebody who is thinking about these questions, you’ve got to get answers and you’ve got to it boils down to the numbers and you’ve got to take a look at what that is for your situation. So please go to Fednobabble.com. If you don’t have a financial adviser who is working with you regarding your benefits, because you really have to coordinate those with your other products to to make sure that we’re really taking a look at all of these different things and getting you, again, the best out of your retirement.

You’re not going to be able to do that without having somebody to help guide you in planning for those different types of scenarios and coordinating your federal benefits. And so, you know, if you are curious about that at all or again, have somebody who is curious set in the league, let’s get talking to them. You know, we’re only giving you information. We’re only giving your information to one adviser so they can work work with you. They’re versed in the federal benefits.

They know what they’re talking about.

Again, I’m preparing the report for them. And so they’re able to ask whatever questions they want. And we’re digging into different scenarios or different benefits that people might have questions on and just giving them the best information. So that way they can really do that planning and for themselves. And you owe it to yourself.

I mean, we plan for living during our working career and everything else.

Right, to plan for our family. We plan on the house that we plan all of our finances. Then why don’t we plan for retirement? And I think this is one of the things that is just isn’t taking seriously very often. So take hold of your retirement and do some planning.

Good at just go act good. All right. Cassie appreciate it. Talk to everyone next time. Have a good one and see you on the next episode next week. See you then. If it goes. And it goes now. Now, now, to get Cassie’s comprehensive report on your federal retirement benefits at no cost, no obligation and no sales pitch, go to Fednobabble.com while you’re there, submit a question for them to answer on the show.