Regarding FEGLI best advice I ever got at a retirement seminar is drop Part B (multiples of salary) and Part C by age 50 and get a Term Life Policy BUT keep Basic and maybe Part A. I got a Term policy (1 million) for way less than I was paying FEGLI, but kept Basic only. When I retired I took the 75% reduction option which means free FEGLI after age 65 (policy will reduce in value until it is 25% of your last salary while working). FEGLI is still a great option (even the expensive Part B) for people who cannot get a life insurance policy anywhere else because of health reasons. Also make no changes to FEGLI until you have something else in place; you can delete coverages but not add until an open season, which for FEGLI is rare, maybe once every ten years and not announced until last minute.
I dropped my FEGLI before turning 45. I found a $400k 20 year Term policy that would be cheaper than the FEGLI at age 45, $500/yr Subsequently I no need for insurance. So I dropped the Term policy.
This was what I was advised as well and so glad I did. Purchased a private policy a couple of months before I turned 50 and kept basic. It's saved me so much money and I am still shocked by how much the rates would've incrementally increased with age.
I'm was thinking about my kids when I applied for FEGLI when I started working at the VA. I only took the basic and Part A, thinking I can change and add additional on Part B once open season rolls in. However, I didn't know, you can only do FEGLI one time, and you're right, it opens very rare that's what HR told me. But it's fine, I still have 2 private insurance, I'm not insured a million, it's just enough for my kids to pay their debts when I'm gone.
My fellow FERS employees if you get offered a Vera VSIP take it. Retire early, if 55 look up 55 rule, if younger still retire with no cap on earnings until your MRA. Social security supplement is huge. Retire early and enjoy your life. Stop working a shitty job until age 62 or older get out and enjoy your life !!!
@@shayscott7498 I have 34 years and took 55 Vera VSIP hired at 21 retired at 55 still young enough to enjoy life stop listening to the “advisors” you will regret staying until you can’t enjoy it. Get out early. You will be ok. That’s the truth. Fed employee 34 years. Speaking my truth.
Dallen, I enjoy learning from you and have been a viewer for a long time. I share your videos with other Feds to spread the gospel to those interested in getting the most out of their benefits. Usually this is as a result of trying to answer a specific topic. When that happens, it often takes a while of searching through a video to locate the relevant information. It would be extremely helpful if your videos were organized into titled sections that can be used for easy sharing with others. Is there any way you could include this going forward?
That’s wrong, my opinion, saying 40% could be taken out of your pension. Salary : My SSA deduction is nearly $700/month, $1500/ month TSP contribution, State tax $400/month, Medicare tax $150. All things that are gone when job stops. So go by gross pension income and estimate fed tax and any kind of insurance, health, dental, long term care…..I think that’s it unless your State taxes the pension.
Hi, thank you for your very useful information. I always watch your channel. I was wondering if you could post a more detailed video regarding change of benefits in the case of disability. I saw that you have one video on disability and the pension plan but I was wondering if you could go into a bit more detail about possibly keeping some of your other benefits, such as contribution/ match for the TSP, health insurance and mandatory age for your retirement benefits to kick in (62 vs 65?). Thanks for all you do.
It would be nice to see a comparison between tsp, Fidelity or Charles S. I hear the fee ratio may be lower in CS when you compare similar funds to the tsp.
it's simple to do on your own. Open 3 browser screens. Pull up each company on a different screen. Then compare the C fund to the S&P500 in the others. For the other funds in the TSP, see what it is that they track. Then find a similar fund with Schwab, Fidelity or Vanguard.
Money is an issue that every one has for a better and luxurious life, irrespective of the challenges we all face,it would be nice you setup a portfolio of yours rather than waiting upon the goverment for assitance, was hard for me until I started investing in Bitcoin trading and am now earning $56,435 per week with an initial capital of $13,000, since retirement, all thanks to agent Max & his team, its months now & My family are benefiting from it, some might venture into stock to clear their mortgage,I believe whichever is best for your financial stability.
For the first time, few months ago at a conference in Manchester, I invested £25,000 and traded in one month making close to £143,670 through this Man,Max,quite intelligent.
You can't really know the full risk rate except you're a professional, Reason I settled for advisory & guide from a digital guru, Never been the same again with my holdings.
There are qualified,experience traders who have spent time and resources,and leanrt these steps of taking highly profitable trades and even mastered them.the best you can do is to contact one and curb looses,of which agent Max is a reliable Source.
Regarding FEGLI best advice I ever got at a retirement seminar is drop Part B (multiples of salary) and Part C by age 50 and get a Term Life Policy BUT keep Basic and maybe Part A. I got a Term policy (1 million) for way less than I was paying FEGLI, but kept Basic only. When I retired I took the 75% reduction option which means free FEGLI after age 65 (policy will reduce in value until it is 25% of your last salary while working). FEGLI is still a great option (even the expensive Part B) for people who cannot get a life insurance policy anywhere else because of health reasons. Also make no changes to FEGLI until you have something else in place; you can delete coverages but not add until an open season, which for FEGLI is rare, maybe once every ten years and not announced until last minute.
Very good advice
I dropped my FEGLI before turning 45. I found a $400k 20 year Term policy that would be cheaper than the FEGLI at age 45, $500/yr
Subsequently I no need for insurance. So I dropped the Term policy.
This was what I was advised as well and so glad I did. Purchased a private policy a couple of months before I turned 50 and kept basic. It's saved me so much money and I am still shocked by how much the rates would've incrementally increased with age.
I'm was thinking about my kids when I applied for FEGLI when I started working at the VA. I only took the basic and Part A, thinking I can change and add additional on Part B once open season rolls in. However, I didn't know, you can only do FEGLI one time, and you're right, it opens very rare that's what HR told me. But it's fine, I still have 2 private insurance, I'm not insured a million, it's just enough for my kids to pay their debts when I'm gone.
My fellow FERS employees if you get offered a Vera VSIP take it. Retire early, if 55 look up 55 rule, if younger still retire with no cap on earnings until your MRA. Social security supplement is huge. Retire early and enjoy your life. Stop working a shitty job until age 62 or older get out and enjoy your life !!!
I'm praying I have that option when I'm eligible. I would be gone so fast....
@@hrobbins you will be fine. Trust me. I know you don’t know me. However you will be ok 👍 💯
With the way the C and S funds have been this year I might have to tough it out another year.
@@shayscott7498 how much did u have at the beginning of the year
@@shayscott7498 I have 34 years and took 55 Vera VSIP hired at 21 retired at 55 still young enough to enjoy life stop listening to the “advisors” you will regret staying until you can’t enjoy it. Get out early. You will be ok. That’s the truth. Fed employee 34 years. Speaking my truth.
Dallen, I enjoy learning from you and have been a viewer for a long time. I share your videos with other Feds to spread the gospel to those interested in getting the most out of their benefits. Usually this is as a result of trying to answer a specific topic. When that happens, it often takes a while of searching through a video to locate the relevant information. It would be extremely helpful if your videos were organized into titled sections that can be used for easy sharing with others. Is there any way you could include this going forward?
That’s wrong, my opinion, saying 40% could be taken out of your pension. Salary : My SSA deduction is nearly $700/month, $1500/ month TSP contribution, State tax $400/month, Medicare tax $150. All things that are gone when job stops. So go by gross pension income and estimate fed tax and any kind of insurance, health, dental, long term care…..I think that’s it unless your State taxes the pension.
Why is the differential not included with your pension calculation when you work as a permanent Night Shift VA nurse?
YAS. This right here.
Hi, thank you for your very useful information. I always watch your channel. I was wondering if you could post a more detailed video regarding change of benefits in the case of disability. I saw that you have one video on disability and the pension plan but I was wondering if you could go into a bit more detail about possibly keeping some of your other benefits, such as contribution/ match for the TSP, health insurance and mandatory age for your retirement benefits to kick in (62 vs 65?).
Thanks for all you do.
It would be nice to see a comparison between tsp, Fidelity or Charles S. I hear the fee ratio may be lower in CS when you compare similar funds to the tsp.
it's simple to do on your own. Open 3 browser screens. Pull up each company on a different screen. Then compare the C fund to the S&P500 in the others.
For the other funds in the TSP, see what it is that they track. Then find a similar fund with Schwab, Fidelity or Vanguard.
Money is an issue that every one has for a better and luxurious life, irrespective of the challenges we all face,it would be nice you setup a portfolio of yours rather than waiting upon the goverment for assitance, was hard for me until I started investing in Bitcoin trading and am now earning $56,435 per week with an initial capital of $13,000, since retirement, all thanks to agent Max & his team, its months now & My family are benefiting from it, some might venture into stock to clear their mortgage,I believe whichever is best for your financial stability.
Max Cole's Availability💯
For the first time, few months ago at a conference in Manchester, I invested £25,000 and traded in one month making close to £143,670 through this Man,Max,quite intelligent.
You can't really know the full risk rate except you're a professional, Reason I settled for advisory & guide from a digital guru, Never been the same again with my holdings.
@@tradercobb6791 That's why we should only invest just a part of our savings, say 10-15-20%
Be smart not greedy!
There are qualified,experience traders who have spent time and resources,and leanrt these steps of taking highly profitable trades and even mastered them.the best you can do is to contact one and curb looses,of which agent Max is a reliable Source.