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What happens to your FERS paycheck when you retire? William Smith walks through a real federal employee pay stub line by line and shows which deductions stop the day you leave. Social Security (the OASDI line), Medicare tax, your FERS contribution, your TSP contribution and your allotments all come off. Add your FERS pension and Social Security back in, and the gap between your working net pay and your retirement net pay can be a few hundred dollars a month, depending on your years of service. In this session: - How to read your LES and find the deductions that end in retirement - A real income gap example: $5,500 in monthly expenses, $1,647 from the FERS pension after taxes, $1,900 from Social Security, and a $1,900 gap the TSP covers - How to calculate your FERS pension with your high-3, years of service and the 1% or 1.1% multiplier - Why paying off a car note, credit cards or Parent PLUS loans shrinks how much you pull from your TSP - How the FERS COLA works once you're retired - Q&A: Medicare Part B with FEHB, withdrawal order for TSP and Social Security, and planning with a spouse who isn't a federal employee Chapters 00:00 What changes in your paycheck at retirement 02:50 Walking through a real federal pay stub 04:00 What OASDI is and why it goes away 07:00 What to pull from your LES tonight 09:30 Retirement income gap example 10:10 How the FERS COLA works 11:00 Should you pay off your car with your TSP? 12:30 Mortgage, credit cards and student loans 14:15 Why you shouldn't be afraid to use your TSP 19:00 How to calculate your FERS pension Book a free Discovery Call: https://fedlegacy.zohobookings.com/#/discovery Join the live webinar every Wednesday at 7:30 PM ET: https://webinar.fedlegacy.com/registration This video is for educational purposes and isn't personalized financial advice.

Before you submit your federal retirement paperwork, you can check whether your retirement income will cover your bills using one sheet of paper and five figures from your own statements. FedLegacy founder William Smith walks through the exact one-pager his team fills out with federal employees, using real figures from a client who had $1.27 million in traditional TSP and no plan for the tax bill. The five figures on the worksheet: Your TSP balance and how much is traditional vs. Roth (only shown on page one of your TSP statement)Your FERS pension estimate: high-3 × years of service × 1%, or 1.1% if you retire at 62 or older with 20+ yearsYour Social Security estimate from SSA.govWhat FEGLI will cost you in retirement, and whether to keep itYour monthly expensesAdd your pension and Social Security, set aside about 20% for taxes, and subtract your expenses. The result shows whether you have a surplus or a monthly gap you'll need to cover from your TSP. William also shares how a 70-year-old federal employee with 45 years of service avoided a $410 monthly FEGLI premium by choosing the 75% reduction option, and why how much you pull from your TSP affects your taxes and Medicare premiums. Chapters 00:00 Welcome and Introduction to Retirement Planning02:54 Key Numbers for Retirement Success05:49 Understanding TSP and Pension Calculations09:10 Health Insurance and Fegley Considerations11:52 Income Planning and Budgeting for Retirement14:45 Navigating Retirement Income Strategies18:06 Engagement and Understanding Your Financial Position20:54 Action Steps for Retirement Preparation24:01 Q&A on Retirement Strategies and Roth Conversions26:56 Final Thoughts and Next Steps for Retirement PlanningFedLegacy helps federal employees retire on time and with confidence.

If you're retiring from the federal government in the next 90 days, this session is built specifically for you. William Smith walks through the exact three-window countdown he uses with clients: the setup window (90 to 61 days), the sequencing window (60 to 31 days), and the lockdown window (30 to 0 days), and what has to happen in each one so nothing slips through before your last day. Inside this session: Why pulling every document early, your SF-50, FEGLI, TSP, and Social Security statements, gives you enough time to catch mistakes agencies actually make, like a wrong service computation date. The real deadline for submitting your retirement application (and why mid-November beats waiting until December). Whether you have to leave your money in TSP when you retire, and whether it keeps growing once you do. How the survivor benefit decision actually works, and when a life insurance policy makes more sense instead. What happens to your FEGLI coverage the year after you retire, and how the coverage actually drops over time instead of all at once. How a TSP loan gets handled if you retire before paying it off. Why building your emergency fund before your last paycheck matters more than most people realize, since your first full payment can take months. This is a live Q&A session, so most of what's covered comes directly from real questions asked by federal employees who are retiring by the end of this year. Watch every Wednesday through the end of the year as FedLegacy continues this series for federal employees approaching retirement. Educational content only. Not individualized tax, legal, investment, or insurance advice. FedLegacy is not affiliated with, endorsed by, or an agency of the U.S. government, OPM, or any federal employer.

Your federal pension and TSP might look solid on paper, but debt and cash flow can quietly push your retirement date back further than you think. In this session, William Smith walks through a real retirement analyzer case study showing exactly how credit card debt, car notes, and everyday expenses change how long your retirement money actually lasts. You'll see: How debt drag affects your FERS pension, Social Security, and TSP income planWhy the gap between your first estimated retirement check and your full payment mattersHow to build an emergency reserve before you fileWhat paying off a car note or credit card early can add to your retirement timelineWhen to take TSP withdrawals to avoid unnecessary taxes and penaltiesReal Q&A on Social Security timing, Roth conversions, and RMD age rules If you're a federal employee within a few years of retirement, this is the debt and cash-flow cleanup checklist to go through before you submit your paperwork. Want your own numbers run through this same analyzer? Type "PLAN" in the chat during our live sessions, or book a Discovery Call here: https://fedlegacy.zohobookings.com/#/discovery #FederalRetirement #FERS #TSP #FEGLI #RetirementPlanning

The market has handed federal employees a decade of easy TSP growth. William Smith explains why that run isn't normal, and what changes in the years right before you retire. This session covers sequence of returns risk using real TSP fund history back to 1988, why a 20% market drop needs more than a 20% gain to recover from, and how the same $500,000 TSP balance can run out in 18 years or grow past $1 million depending only on the ten years you happen to retire into. William also breaks down the Financial House framework (protected foundation, inflation and tax-proofed walls, market-exposed roof), the rule of 100 for deciding how much TSP risk to carry, and the real difference between contributing to Roth TSP and transferring into it. What's covered: Why the last 10 years of TSP returns are not the historical normSequence of returns risk, explained with real C Fund and G Fund data since 1988Why a market drop while you're withdrawing income does more damage than the same drop while you're still workingThe Financial House: protected foundation, inflation and tax walls, market-exposed roofThe rule of 100 for deciding how much TSP risk to keep as a federal employeeRoth TSP contributions vs. Roth TSP transfers, and why the difference matters for your taxesLive Q&A with real federal employee questions on reallocation, retirement timing, and protected income options

Your FEGLI premium goes up every five years after you retire. By age 80, a $500,000 Option B policy can cost over $400 a month, and most federal employees never see that number until it's already hitting their check. In this session, FedLegacy advisor Brandon Tramel walks through the three FEGLI choices federal employees make without realizing it, how to run the free OPM FEGLI calculator to see your own numbers, and the five warning signs that your survivor coverage has a gap in it. What this covers: FEGLI Options A, B, and C explained, including how the cost curve changes after you retireHow to use the OPM FEGLI calculator to project your own premiums into retirementThe difference between SF 2817 (active employees) and SF 2818 (retirees) and which form applies to youThe three FERS survivor annuity election options and what each one costs your monthly pensionWhy your FEGLI beneficiary form, your TSP beneficiary form, and your will need to matchHow FEHB coverage for your spouse is affected by your survivor annuity election If you're a federal employee within a few years of retirement, or you've already retired and haven't looked at these forms since you signed them, this session walks through exactly what to check and why it matters for the people depending on your plan.

Most federal employees assume FEHB and Medicare have long-term care covered. They don't, and finding that out during a health crisis is the worst possible time to learn it. In this episode, William Smith breaks down: Why FEHB does not cover custodial long-term care, the everyday help with bathing, dressing, and eating that most people assume is includedWhat Medicare Part A actually covers, up to 100 days, with a daily cost after day 21 that catches most people off guardWhy federal employees are often in a better position to self-fund long-term care than people relying on a 401k alone, thanks to pension and Social Security incomeA real client example: a retiree with her TSP sitting almost entirely in the G Fund, and what changed once her allocation was rebalanced into growth and protected bucketsWhether FEHB alone is enough or if Medicare Part B is worth adding, and the real tradeoffs behind that decisionHow the IRMAA two-year lookback works, and the life-changing-event form that can lower your premium after retirementLive Q&A covering Medicare enrollment penalties, hybrid long-term care policies, and survivor benefit elections Chapters 00:00 Understanding Long-Term Care in Retirement01:23 Limitations of FEHB and Medicare for Long-Term Care03:44 Challenges with Long-Term Care Policies05:09 Self-Funding Long-Term Care06:36 TSP Investment for Long-Term Care Planning16:31 Healthcare Options for Federal Employees19:28 Medicare Enrollment and Long-Term Care Considerations22:22 Personalized Retirement Planning

Most federal employees know Roth and Traditional TSP are different. Far fewer know when converting between them actually helps versus when it just moves the tax bill and adds a new problem. In this episode, William Smith breaks down: The real difference between how Traditional and Roth TSP are taxed, and why most people's TSP balance isn't fully theirsThe TSP Roth conversion window: the years between retirement and your Required Minimum Distribution age (73 or 75, depending on birth year)Why converting while still working can push you into a higher tax bracket than expectedThe separate five-year clocks for TSP Roth and outside Roth IRAs, and why they don't count toward each otherHow IRMAA and Medicare premiums factor into conversion decisions Chapters 00:00 The Importance of Taxes in Retirement Planning03:23 Roth vs. Traditional TSP07:41 Roth Conversions and the Five-Year Window09:02 Impact of Roth Conversions on Retirement and Medicare17:00 Considerations for Federal Employees Approaching Retirement

Federal employees have a tax window most people never get, and most people miss it. This episode breaks down the two windows that open right after you retire, why the Secure Act's 10 year rule changed the math on your traditional TSP, and how to fill your tax bracket with Roth conversions without tipping into IRMAA surcharges or a higher bracket than you need. William Smith walks through a real client case where a $30,000 difference in withdrawal timing kept a retiree out of the 32% bracket and away from higher Medicare premiums, then opens it up to live questions on Roth contribution amounts, the five year rule, fixed index annuity bonuses, and required minimum distributions. What's covered: Why the Secure Act's 10 year inheritance rule changed retirement tax planningThe 57 to 62 tax window and why your income is lower with no COLA increasesThe 62+ window and the choice between Social Security and TSP withdrawalsFilling your tax bracket with Roth conversions without overshootingIRMAA and Medicare premium triggers to watch forRequired minimum distributions and why timing matters years in advanceIn-service Roth transfers and why TSP makes this harder than an IRAThe five year rule for Roth TSP and Roth IRA (they run separately)Using TSP as a self-funded long-term care optionLive Q&A: annuity bonus red flags, two-income household tax rates, Roth contribution amounts, and more Timestamps: 00:00 Why the tax window exists now (Secure Act, 10 year rule) 02:24 What qualified money means to the government 04:39 You can't avoid taxes, only reduce them through planning 07:02 The 57–62 window and filling your tax bracket 09:27 Client case: avoiding the 32% bracket and IRMAA 11:53 The RMD window and why it changes everything 14:22 In-service Roth transfers and why TSP makes it harder 16:52 The five year Roth rule and using Roth funds debt-free 19:18 TSP as a self-funded long-term care option 21:42 Q&A: fixed index annuity bonuses, real return or red flag? 24:41 Q&A: two-income households and Roth strategy 27:23 Q&A: how tax brackets shift by year and administration 28:39 Q&A: how much to contribute to Roth TSP 31:14 Q&A: the five year rule, TSP vs. IRA 31:45 Q&A: what makes an IRA "good" 33:45 Q&A: RMDs while still working 35:09 Closing If you want a plan built around your own numbers, book a free Discovery Call: https://fedlegacy.zohobookings.com/#/discovery FedLegacy helps federal employees navigate FERS, TSP, FEGLI, and Social Security so retirement decisions get made with a plan instead of guesswork.

The conversation covers the key considerations for federal employees attending retirement seminars, including the differences in retirement strategies, the 4% rule, TSP strategy, safety and growth in federal benefits, simplicity of federal employee retirement, and long-term care considerations. Takeaways Federal employees have unique retirement needsTSP strategy and federal benefits differ from private sector approaches Chapters 00:00 Navigating Retirement Seminars03:24 The 4% Rule and TSP Strategy07:11 Safety and Growth in Federal Benefits10:58 Simplicity of Federal Employee Retirement13:50 Long-Term Care Considerations

The conversation delves into the TSP income gap, the impact of market performance on TSP funds, strategies for managing TSP funds, balancing growth and protection, the importance of historical returns, managing income drawdown, creating wealth and peace of mind, maximizing TSP contributions for options, the power of compound growth, planning for retirement and future income, optimizing retirement income, long-term financial security, strategies for TSP growth and stability, building wealth and reducing stress, living off interest and TSP contributions, and the importance of maximizing TSP contributions for options. Takeaways Understanding the TSP income gap is crucial for federal employees.Balancing growth and protection in TSP funds is essential for long-term financial security. Chapters 00:00 Understanding the TSP Income Gap01:01 Impact of Market Performance on TSP Funds02:24 Addressing the Income Gap with TSP03:22 Strategies for Managing TSP Funds04:22 Balancing Growth and Protection05:21 The Importance of Historical Returns06:18 Managing Income Drawdown07:14 Creating Wealth and Peace of Mind08:13 Maximizing TSP Contributions for Options09:11 The Power of Compound Growth10:10 Planning for Retirement and Future Income11:08 Importance of TSP Contributions12:04 Optimizing Retirement Income13:04 Long-Term Financial Security14:05 Strategies for TSP Growth and Stability15:02 Building Wealth and Reducing Stress16:01 Living Off Interest and TSP Contributions17:29 Maximizing TSP Contributions for Options

In this session, William Smith breaks down exactly how long the federal retirement process takes from start to finish, what happens to your income during the gap, and how to make sure you are not caught off guard when your first pension check is different from what you expected. What you will learn: The ORA processing timeline from application to first full pension checkWhy your interim check is 60-80% of your expected pension and what is missing from itHow to bridge the income gap without making a costly TSP withdrawalWhen you can access your TSP after retirement without the 10% penaltyHow to calculate your FERS pension using the 1% and 1.1% formulaWhy Roth TSP conversions are cheaper to do after retirement than beforeHow estate planning protects everything you have built If you are retiring in the next one to three years, this is the session to watch before you submit your paperwork. Chapters 00:00 Introduction to Online Retirement00:59 The Digital Retirement System02:57 Timeline of Retirement Process08:14 Financial Considerations in Retirement12:07 Transitioning into Retirement14:03 Preparing for Retirement

The conversation delves into the unique nature of the federal employee paycheck stack, the impact of current headlines on retirement, offsetting inflation in retirement, the role of Social Security, financial house and tax planning, decision-making on Social Security, and the role of TSP in retirement. It emphasizes the need for a personalized retirement plan and the importance of offsetting inflation in retirement planning. Takeaways Unique nature of federal employee paycheck stackNo one-size-fits-all approach to managing pension checksBacklog and waitlist for TSP withdrawalsCalculation and impact of cost of living increaseOffsetting inflation in retirement planningImpact of G Fund returns on inflationImpact of inflation on Social SecurityPolitical influence on inflation reportsCreating a financial house for retirementTax implications for federal employeesConsiderations for taking Social Security at 62Avoiding forced poverty in retirementTSP as an additional income sourceCustomizing TSP for individual retirement goals Chapters 00:00 Understanding the Paycheck Stack03:46 Impact of Current Headlines on Retirement07:27 Offsetting Inflation in Retirement09:25 Role of Social Security in Retirement11:23 Financial House and Tax Planning13:18 Decision-Making on Social Security19:06 Role of TSP in Retirement

The conversation covers the emotional impact of loss, financial planning for retirement accounts, the implications of the Secure Act 2.0, navigating taxation, RMDs, Roth conversions, IRMA and tax implications, tax planning for survivors and investment income, and the importance of tax strategy in retirement. Takeaways Understanding the tax implications of retirement accounts is crucial for effective financial planning.Tax strategy in retirement is essential for minimizing tax burdens and maximizing wealth preservation. Chapters 00:00 Dealing with Loss and Financial Planning05:10 RMDs and Tax Planning in Retirement13:21 Tax Planning for Survivors and Investment Income

The conversation covers the importance of the three-legged stool in retirement planning, the impact of early social security withdrawal, and the significance of understanding the three-legged stool for federal employees. It also highlights the common mistakes in retirement planning and the need for proper tax planning and investment strategies. Takeaways Three-legged stool in retirement planningImpact of early social security withdrawalCommon mistakes in retirement planning Chapters 00:00 Common Mistakes in Retirement Planning