Federal Employee Financial Planning Podcast

Have you ever wondered about the ins and outs of the Federal Thrift Savings Plan (TSP) and its impact on your financial future? In today's episode, John, Michael, Tommy, and Ben break down the competitive advantages and disadvantages of the TSP. We'll explore the benefits of maintaining your TSP long after retirement, including one option that allows post-tax contributions to grow tax-free. Access the full show notes at Mason & Associates, LLC

How does the financial-planner-to-client ratio impact the quality of financial advice? In this episode, John, Michael, Tommy, and Ben will discuss how the ratio of clients per advisor shapes their approach to financial planning. They will share their journey from managing 150 - 200 clients per planner to capping it at 100, explaining why this change was necessary for delivering top-notch service. Access the full show notes at Mason & Associates, LLC

How do financial planners demonstrate value? In this episode, John, Tommy, and Ben explain the intricacies of the client relationships they maintain as financial planners. They unpack the distinction between onboarding and ongoing client service, emphasizing the importance of maintaining a continuous partnership with your financial advisor. Access the full show notes at Mason & Associates, LLC

What are the perks of virtual versus in-person client meetings? In this episode, Tommy, Ben, and John weigh the advantages, exploring how virtual meetings offer unparalleled flexibility and opportunities. They will explain how virtual meetings not only save time, but also provide greater access to financial advice, as well as the less intimidating nature of virtual interactions, where discussing finances from the comfort of home can alleviate stress. Access the full show notes at Mason & Associates, LLC

Wondering what goes on during strategic planning meeting season at Mason & Associates? Join Tommy, Ben, and John as they break down what to expect during this crucial time. From adjusting plans to accommodate changing goals to demanding excellence from your financial planner, this episode covers it all. Access the full show notes at Mason & Associates, LLC

Is your financial planner as knowledgeable as they say they are? Do they have all the experience needed to guide you? In this episode, Michael, Tommy, Ben, and John dive deep into the common misconceptions surrounding financial planning. They challenge the notion that anyone can be a financial planner and stress the importance of transparency in the industry. Listen in as they shed light on topics like estate planning for everyone, why financial planning extends beyond insurance sales or investment management, and more. Access the full show notes at Mason & Associates, LLC

Have you ever wondered how your financial planner gets paid? In this episode, Michael, Tommy, John, and Ben tackle this question head-on, shedding light on the various compensation methods in the financial planning industry. They cut through the jargon to explain the surge in annual meetings and the strategic importance of mapping out financial goals at the beginning of the year. From explaining fee-only versus commission-based models to the significance of transparency in understanding your planner's payment structure, they will equip you with the knowledge you need to hire the right advisor. Access the full show notes at Mason & Associates, LLC

Did you know that the Tax Cuts and Jobs Act of 2017 has far-reaching implications up until 2025—with impending changes set to unfold in 2026? Today Michael, John, and Ben discuss the complexities of this legislation, from the sudden shifts in withholdings to the surprising revelations during tax season in April 2019. They also explain how seemingly minor adjustments can lead to significant financial outcomes. Listen in to hear about the current tax landscape, as well as its impact on individuals and businesses alike. Access the full show notes at Mason & Associates, LLC

Are you taking advantage of all that is available to you as a federal employee? In this episode, Michael, Tommy, Ben, and John discuss the "Rich Men North of Richmond" parody of federal employees, dissecting its jokes. From the unique benefits like inflation-adjusted pensions and cost of living adjustments (COLA), they cover what sets federal employees apart. Access the full show notes at Mason & Associates, LLC

How do baseball and financial planning intersect? In this episode, Michael, Tommy, John and Ben break down the game of financial planning. From end-of-year tax strategies to building your financial 'team,' they explain what can help you win big. Access the full show notes at Mason & Associates, LLC

What exactly does a Roth account allow you to do? John, Michael, Tommy, and Ben dive into the intricacies of Roth accounts in this episode and discuss everything from Roth TSPs and conversions to the nuanced distinctions between Roth and traditional IRAs. Access the full show notes at Mason & Associates, LLC

In this year-end reflection, Michael, Tommy, Ben, and John dissect the financial landscape of 2023, sharing the surprises and lessons learned along the way. They explain the critical importance of discerning financial information sources, urging listeners to rely on professional advice over sensationalized media information. Access the full show notes at Mason & Associates, LLC

Small steps, big leaps. In this episode, Michael, John and Ben explain the power of initiating modest changes in your financial plan, drawing parallels to the similarly slow approach required in physical fitness. Tune in to discover why waiting for the future to pursue your dreams can be a costly delay. Access the full show notes at Mason & Associates, LLC

Unlock the doors to unique planning opportunities for dual federal employees as Michael, John, Tommy, and Ben delve into pre- and post-retirement strategies in this episode. They explain the untapped potential for fun and financial prosperity when dual federal employees understand the lucrative nature of their benefits and work with a financial planner who specializes in their unique situation. Access the full show notes at Mason & Associates, LLC

You just got a call from the doctor—and it wasn't the news you were hoping for. You're scared, but you're determined to beat this sickness. Although it is important to keep a positive mindset and fight your way back to health, it is also essential to have a plan in place in the unfortunate event that you aren't able to overcome it. So what do you do next? In this episode, Michael, John, Tommy, and Ben will be discussing what you need to have in place to ensure your family is taken care of if you pass away. Access the full show notes at Mason & Associates, LLC

In the world of financial planning, the worst time to seek a financial planner is after the death of a spouse. So, in this episode, Michael, John, and Tommy share the importance of having a thoughtful plan in place before the loss occurs. They'll break down why it's crucial to work with planners well-versed in your specific situation, how to secure digital assets, and more. Access the full show notes at Mason & Associates, LLC

Going beyond the dollars and cents, retirement is a lifestyle shift, and it is essential to plan for it as such. In this episode, you'll discover the practicalities of planning for retirement as Michael, Tommy, and John discuss sick and annual leave, the value of proactive planning over reactive approaches, and how strategically using leave can impact not just your retirement, but also your current life. Access the full show notes at Mason & Associates, LLC

Getting through a divorce is challenging, but it becomes even more complex when federal or military benefits are involved. In this episode, join Tommy, Mike, Ben, and John as they delve into the crucial topic of divorce and its implications for federal employees. Discover the significance of due diligence when seeking counsel, negotiation tips for a fair outcome, and more. Access the full show notes at Mason & Associates, LLC

Have you ever wondered about the fiduciary responsibility in financial planning, especially as a federal employee seeking financial guidance? Join Tommy, Mike, Ben, and John in this episode as they delve into the essential concepts of fiduciary service and what it takes to find the perfect financial planner for your unique situation. They'll discuss the significance of expecting, demanding, and requiring fiduciary service and guide you through what it means to be a fiduciary (the answer may surprise you!). Access the full show notes at Mason & Associates, LLC

In the financial planning world, the practice of reviewing documents is often overlooked, leaving clients' financial futures hanging in the balance. Join John, Michael, Tommy, and Ben today as they discuss why document reviews are key, as well as why they meticulously examine tax statements, Social Security statements, insurance statements, and estate documents—unlike some who merely request these papers for show. Access the full show notes at Mason & Associates, LLC

Today Mike and John are once again joined by Bryan Gay, Owner of Boomer Insurance, to explore the intricacies of TRICARE For Life Medicare Advantage. For many retirees, especially those with a military background, navigating the complexities of Medicare options can be daunting. Bryan sheds light on the two primary choices available to those with TRICARE for Life, and breaks down what to know about each. In this eye-opening episode, we dive deep into the ever-evolving landscape of healthcare options, with a particular focus on TRICARE for Life (TFL) and the intriguing possibilities presented by Medicare Advantage. Access the full show notes at Mason & Associates, LLC

Today John and Tommy are joined by Bryan Gay, Owner of Boomer Insurance, to delve into Medicare, specifically focusing on FEHB, Medicare Part D, Advantage Plans, and forthcoming 2024 changes. They'll help uncover the mysteries surrounding Part D for non-federal individuals and offer insights into the challenges they face, as well as what to anticipate in the upcoming year. Access the full show notes at Mason & Associates, LLC

Today John, Ben, and special guest Bryan Gay from Boomer Insurance discuss Medicare and Medicare Advantage, shedding light on a topic often overshadowed by federal employee health benefits. They start by breaking down Medicare, comparing it to just another insurance company, and exploring the distinctions between Medicare Part A and Part B. You'll gain valuable insights into the affordability and comprehensive coverage provided by Medicare, as well as discover the out-of-pocket limits associated with this healthcare option. Access the full show notes at Mason & Associates, LLC

Much like keeping track of a game's score on a scoreboard, it is essential to know the score of your financial plan. Understanding this score is paramount in your financial planning journey, as it can mean the difference between running toward your goals or making costly errors. In this episode, John, Mike, Ben, and Tommy will emphasize the importance of understanding the score of your financial plan so you can plan effectively, efficiently, and accurately for your retirement. Access the full show notes at Mason & Associates, LLC

Are you thinking about retiring early? Join Tommy, John, Mike, and Ben in this episode as they explore the world of early retirement planning. They define early retirement in different sectors, spotlighting health insurance, taxes, and time management as key concerns. Beyond finances, they emphasize the need to discover a passion or something that will fill your time up when you retire so that you can continue feeling fulfilled. Access the full show notes at Mason & Associates, LLC

Ever thought about whether striving for perfection is worth the trade-off in terms of enjoyment and attainability? In this episode, Michael, John, Ben, and Tommy discuss the downsides of fixating on flawless blueprint plans. Through personal stories and financial insights, they find the balance between aiming for perfection and recognizing that progress often trumps unattainable ideals. They share practical examples, dissect areas that require compromise, and advocate for proactive measures to avoid getting stuck in overthinking. Access the full show notes at Mason & Associates, LLC

Time continues to move quickly and it is already more than halfway through 2023. What better time than now to take action and get your finances in order? Don't wait for the perfect moment or a later date; start today, even if it means beginning with small steps. In this episode, Michael, Tommy, John, and Ben gather to provide an update on the events of 2023. Access the full show notes at Mason & Associates, LLC

In this episode, Michael, Ben, John, and Tommy discuss Social Security, an issue currently making waves in the news. Their confusion comes from conflicting signals: there are constant warnings of potential benefit cuts, but there is also talk of proposed changes that will make this issue worse. As they explain the situation, you will be reminded why it is essential to have expert guidance in navigating this complex landscape. Access the full show notes at Mason & Associates, LLC

Do you ever watch or read investment news, only to feel more confused and uncertain than you did before? In this episode, Michael, Tommy, and John team up with special guest Jeff Hybiak to delve deeper into the world of investment jargon. They begin by defining what the market truly is, stressing the crucial distinction between televised market discussions and the actual impact on individual portfolios. They also emphasize the significance of maintaining a diverse portfolio and caution against comparing personal investment performance to arbitrary indexes. Access the full show notes at Mason & Associates, LLC

Ever wondered how a bull and a bear could hold the key to understanding the stock market? Join Michael, John, Tommy, and special guest Jeff Hybiak, Chief Investment Officer at SEM Wealth Management, as they unravel the enigmatic language of investments. They break down the importance of diversification, cautioning against blindly chasing the best-performing ETFs or mutual funds as it may lead to purchasing duplicate investments rather than diversifying your portfolio. Access the full show notes at Mason & Associates, LLC

In this episode, John, Tommy, and Ben delve into the intricacies of the Tax Torpedo and its impact on the taxation of Social Security. The Tax Torpedo is appropriately named because it has the potential to sink your tax situation if you're not vigilant and attentive to its effects. Typically, individuals who solely rely on Social Security income do not have taxable income, meaning they don't need to file a tax return. Things get more complicated when you have additional sources of income such as dividends, interest, and IRA distributions, as these factors can significantly impact your tax liability. Access the full show notes at Mason & Associates, LLC

Are your spouse and children supported by your Social Security benefits? What happens in the unlikely event that you pass away suddenly and unexpectedly? In this episode, Michael, John, Tommy, and Ben explain some of the lesser-known aspects of Social Security. Diving into the realm of family benefits, they discuss scenarios where non-contributing spouses or children can still access significant returns. Access the full show notes at Mason & Associates, LLC

Get ready to take your retirement benefits to the next level! As a federal employee, you've got a lot to look forward to: guaranteed FERS benefits and Social Security, plus a steady income that keeps the bills paid. But what if we told you there's a way to add some extra icing to the cake? In this episode, Michael, John, Tommy, and Ben are back to help you do just that. They're continuing the conversation about Social Security benefits and revealing how to stack the deck in your favor. Access the full show notes at Mason & Associates, LLC

Do you ever wonder if you're making the right decisions when it comes to Social Security? With countless advertisements bombarding us with a million ways to claim our benefits, it's easy to feel overwhelmed and unsure of what to do. In this episode, Michael, John, Tommy, and Ben will be shedding light on the complexities of Social Security so that you can plan for a financially secure future. Access the full show notes at Mason & Associates, LLC

Are you approaching the age of 65 and worried about your Medicare premiums? Do you know what IRMAA is and how it can affect your monthly payments? In this episode, Michael, Tommy, John, and Ben will be discussing everything you need to know about Income Related Monthly Adjustment Amount (IRMAA) and how it relates to your Medicare coverage. This episode will be especially valuable for all federal employees, but specifically to those approaching the age of 65. Access the full show notes at Mason & Associates, LLC

Are you ready to retire comfortably and enjoy the fruits of your labor? Retirement planning is not just a reactive process—it's a proactive one. It's crucial to start planning for your golden years as early as possible to ensure you have the financial stability and peace of mind you deserve. But where do you start? That's just one of the many questions that Michael and Tommy will be answering in this eye-opening episode. Access the full show notes at Mason & Associates, LLC

Today we are talking about a once-in-a-lifetime opportunity for military retirees. The open season allows retirees who did not take survivor benefits initially to reverse that decision and potentially secure up to 55% of their pension for their spouse if they predecease. In this episode, Michael, John, Tommy, and Ben, will be explaining the cost of purchasing military survivor benefits, the changes in cost over the years, and who is most likely to benefit from this opportunity. Access the full show notes at Mason & Associates, LLC

Have you ever been told to "consult your tax advisor?" Are you left wondering who your tax advisor is—or how to find one? Taxes are a year-round aspect of financial planning, and it is essential to seek out comprehensive financial planning that includes tax planning advice. In this episode Michael, Tommy, and Ben discuss the crucial role taxes play in financial planning. Access the full show notes at Mason & Associates, LLC

The Setting Every Community Up for Retirement Enhancement (SECURE) Act brought about significant changes to retirement planning in December 2019, and the retirement planning landscape has once again been updated with the passage of the SECURE Act 2.0. In this episode, Michael, Tommy, and John are joined by Ben Raikes, CFP, to discuss how this could impact your financial future. They examine the updated rules around Roth IRAs, the expanded access to distributions from TSP, and more. Access the full show notes at Mason & Associates, LLC

Tax planning and financial planning shouldn't be once-a-year activities. It's important to make them a year-round priority to ensure a secure financial future. So, in this episode, we're talking about how to kick off the new year with a focus on setting and achieving new financial goals. Access the full show notes at Mason & Associates, LLC

Charitable giving is a great way to give back to the community and can also provide great tax benefits for yourself. Depending on the type of charitable organization and the size of the donation, there are various ways to maximize the tax benefits of your charitable contributions. In this episode, Tommy, Michael and John will be sharing how you can maximize the tax benefits of your charitable giving while helping a great cause. Access the full show notes at Mason & Associates, LLC

When the market becomes volatile, it can put a damper on years of otherwise diligent retirement planning and create anxiety around when and how retirement will still be possible. With proper financial planning help and experienced planners, your nest egg can be protected from the inevitable volatility of the market. So, how can you ensure your retirement funds are safe? In this episode, Michael, John, and Tommy are joined by Jeff Hybiak, the Chief Investment Officer at SEM Wealth Management, to discuss the keys to successfully managing retirement accounts during volatile times. Access the full show notes at Mason & Associates, LLC

Cost of living adjustment (COLA) is an increase in pay that is related to some measure of economic activity, keeping up with the cost of living. This is often applied to wages, salaries, and/or benefits. In this episode, Michael, Tommy, and John will be discussing the cost of living adjustment for 2023, as well as what this means for your finances and your long-term financial plans. Access the full show notes at Mason & Associates, LLC

Annuities have developed a bad reputation over the years. In this episode, Michael, Tommy and John will be discussing annuities and explaining what you can do to help protect yourself and your finances as you begin to consider your options. Listen in as they describe some annuity products, specifically how complicated these products can be and the importance of finding a financial planner who will set you up with a long-term plan that they will be a part of every step of the way. You will learn the common misconceptions about annuities, the alternatives to annuities, and more. Access the full show notes at Mason & Associates, LLC

In this episode, James Anderson, Regional Manager at CapCenter, will be joining the show to shed light on mortgages, home equity lines, and interest rates. Listen in as James shares his thoughts on the current interest rate environment and what the future may hold, as well as when he believes you should consider a fixed rate. You will learn some other ways that you can borrow money, how the market moves, and when the VA loan is better than the conventional loan. Access the full show notes at Mason & Associates, LLC

Despite what many people believe, estate planning isn't just for the ultra-wealthy or the elderly. Everyone, regardless of financial status or age, can benefit from having an estate plan as long as they have assets (house, vehicle, etc.) to leave and people to leave them to. In this episode, Heather Szajda, Partner at Virginia Estate & Trust Law, will be joining Tommy and John to discuss exactly what an estate plan might entail, when you should start to consider creating one and what happens if you decide to not create one. Access the full show notes at Mason & Associates, LLC

As a federal employee, you have many options available to you in order to plan for a successful retirement. In fact, with the number of benefits you're entitled to, combined with proper financial planning advice, you're almost guaranteed a 100% success rate in retirement. So, why are so many federal employees left uncertain about their financial future once they retire? In this episode, Michael, Tommy and John will be sharing their advice for effective goal setting, including how to ensure you're setting yourself up for the successful retirement you've worked your whole life for. Access the full show notes at Mason & Associates, LLC

The Federal Employee Health Benefits (FEHB) Program is one of the best benefits federal employees have. It ensures that families and individuals meet their healthcare needs without having to worry about where that money is coming from. How you obtain coverage or services and pay for them differs depending on the plan. However, benefits available under all plans include a wide variety of coverage and care that you will surely want as you retire. In this episode, Michael, Tommy and John will be discussing how FEHB coordinates with Medicare and why it is essential you work with your financial planner to take advantage of this benefit as soon as possible. Access the full show notes at Mason & Associates, LLC

Throughout the past few years, the world has undergone a lot of changes. Many people have had to shift their business to be completely virtual in order to accommodate this new way of living, and Mason & Associates, LLC was no different. So, what has changed in their practice and how has this shift impacted their clients? In this episode, Tommy and John will be discussing their new client process, what the client experience is like and why this update is important. Access the full show notes at Mason & Associates, LLC

You've been listening to Michael, Tommy and John for 20 episodes now, but do you really know them? Every episode, they come together to share their knowledge about financial planning with you. However, they each have their own background and unique introduction into financial planning that they will be explaining today. Access the full show notes at Mason & Associates, LLC