The Thrift Savings Plan is one of your best benefits as a federal employee. Unfortunately, not everyone is making the most of their TSP. In this episode we share 10 of the biggest TSP missteps we have seen over the years, so you can save money, time and feel more confident in how you are saving for retirement. Welcome to Financial Planning 4 Feds. We are dedicated to educating federal employees on how to maximize value from their government benefits by developing and executing a financial plan. 0:40 Intro 1:15 None or outdated beneficiaries 2:33 Missing the full match 4:05 Treating the TSP in retirement the same as when working 5:16 Allocation not meeting your comfort for volatility risk 6:42 Overreliance on Lifecycle Funds 7:45 Ignoring your TSP for years 8:40 Not considering a TSP Loan as a solution 9:44 Underutilizing tax strategies 11:38 Overfunding when younger or not financially secure 13:55 Believing cheaper is better 16:00 Bonus Tip Links mentioned in this video: TSP website: https://www.tsp.gov/ 3% Benefit of using a financial professional: https://www.morningstar.com/content/dam/marketing/shared/research/foundational/831611-GammaEfficientPortfolio.pdf Federal employees and their spouses are invited to complimentary educational workshops covering their federal benefits. For details, visit: https://fedimpact.com/VWP Federal Benefit Resources: https://www.opm.gov/ https://www.tsp.gov/ https://www.myfederalretirement.com/category/podcasts/ https://www.myfederalretirement.com/ https://www.fedsmith.com/ Would you like to know more? https://www.valorwealthpartners.com/ https://www.linkedin.com/in/smithec/ https://www.linkedin.com/company/valor-wealth-partners https://www.facebook.com/ValorWealthPartners

Most federal employees don’t know where to go for competent advice on their Federal Employee Health Benefits. We enjoy finding the inefficiencies and best practices to make the most of your federal benefits. Today we share our insights on FEHB. Welcome to Financial Planning 4 Feds. We are dedicated to educating federal employees on how to maximize value from their government benefits by developing and executing a financial plan. In this episode we will go over: • Share our favorite tool for comparing FEHB plans and • Provide 5 of the best ways we have found to maximize your FEHB 0:44 Intro 1:09 Tools to Compare FEHB Plans 3:18 High Deductible Health Plans 6:09 Complacency with Your Current Plan 7:58 Evaluating Your Current Plan for Changes 9:50 Evaluating Medicare and FEHB Options 12:05 Understanding Dental and Vision Plans Links Mentioned in this video: OPM Comparison Tool: https://www.opm.gov/healthcare-insurance/healthcare/plan-information/compare-plans/ Consumer Checkbook FEHB Comparison Tool: https://www.checkbook.org/newhig2/year25/membership/orderonline.cfm Medicare Analysis Help: https://www.65-incorporated.com/ Federal employees and their spouses are invited to complimentary educational workshops covering their federal benefits. For details, visit: https://fedimpact.com/VWP Federal Benefit Resources: https://www.opm.gov/ https://www.tsp.gov/ https://www.myfederalretirement.com/category/podcasts/ https://www.myfederalretirement.com/ https://www.fedsmith.com/ Would you like to know more? https://www.valorwealthpartners.com/ https://www.linkedin.com/in/smithec/ https://www.linkedin.com/company/valor-wealth-partners https://www.facebook.com/ValorWealthPartners

The threat of a government shutdown has become a frequent political game. We managed to avoid one this time, but there will be shutdowns in the future. As a federal employee you experience both financial and emotional stress during these periods of uncertainty. Welcome to Financial Planning 4 Feds. We are dedicated to educating federal employees on how to maximize value from their government benefits by developing and executing a financial plan. In this episode we… • Give you the facts on past shutdowns and what Agencies may furlough staff. • List some helpful tips on what to do if you are furloughed. • Describe what will happen to the income for retirees. • Provide ways to prepare for the next shutdown. • Share what we will be doing to help you and your fellow federal employees. 0:00 Intro 2:23 History of Government Shutdowns. 3:28 What Agencies will be affected? 4:37 What will happen if you are furloughed. 5:06 Tips to get through a furlough. 7:54 Preparing for the Next Shutdown. 11:20 Retirees and a federal shutdown. 13:57 Helping Fellow Feds. Referenced Links: OPM - Guidance for Shutdown Furloughs: https://www.opm.gov/policy-data-oversight/pay-leave/furlough-guidance/guidance-for-shutdown-furloughs.pdf Government Executive - See who would get furloughed in a shutdown this year: https://www.govexec.com/workforce/2023/09/see-who-would-get-furloughed-shutdown-year/390517/ Axios – The history of government shutdowns and how long they last: https://www.axios.com/2023/09/24/federal-government-shutdown-history-list Federal employees and their spouses are invited to complimentary educational workshops covering their federal benefits. For details, visit: https://fedimpact.com/VWP Federal Benefit Resources: https://www.opm.gov/ https://www.tsp.gov/ https://www.myfederalretirement.com/category/podcasts/ https://www.myfederalretirement.com/ https://www.fedsmith.com/ Would you like to know more? https://www.valorwealthpartners.com/ https://www.linkedin.com/in/smithec/ https://www.linkedin.com/company/valor-wealth-partners https://www.facebook.com/ValorWealthPartners

Picking the worst Thrift Savings Plan fund is not about performance. That is easy. What is more important is how federal employees use the fund and the potential false sense of security it promises. In this episode we… • We share our choice for the worst TSP fund • Discuss why this fund can be dangerous to federal employees • Provide positive alternatives for you Welcome to Financial Planning 4 Feds. We are dedicated to educating federal employees on how to maximize value from their government benefits by developing and executing a financial plan. 0:00 Intro 0:40 Our Choice for the Worst TSP Fund 1:11 Historical Performance 2:11 Why we Voted this Fund the Worst 4:49 Alternatives for You Federal employees and their spouses are invited to complimentary educational workshops covering their federal benefits. For details, visit: https://fedimpact.com/VWP Federal Benefit Resources: https://www.opm.gov/ https://www.tsp.gov/ https://www.myfederalretirement.com/category/podcasts/ https://www.myfederalretirement.com/ https://www.fedsmith.com/ Would you like to know more? https://www.valorwealthpartners.com/ https://www.linkedin.com/in/smithec/ https://www.linkedin.com/company/valor-wealth-partners https://www.facebook.com/ValorWealthPartners

Silicon Valley Bank failed. The second largest bank failure in our country’s history was just a few days ago. What happened? What does this mean? We’re going to unpack that in this episode as well as highlight the various deposit insurance mechanisms so that you are aware of how your money is protected in case of a financial institution’s failure. Welcome to Financial Planning 4 Feds. We are dedicated to educating federal employees on how to maximize value from their government benefits by developing and executing a financial plan. 0:00 Intro 0:55 What happened to cause the concern of deposits? 1:44 Federal Deposit Insurance Company (FDIC) 3:20 National Credit Union Administration (NCUA) 4:46 Securities Investor Protection Corporation (SIPC) 6:16 Protection of assets at Charles Schwab Helpful Websites: FDIC: https://www.fdic.gov/ NCUA: https://ncua.gov/ SIPC: https://www.sipc.org/ Charles Shwab Asset Protection: https://www.schwab.com/legal/sipc-account-protection Federal employees and their spouses are invited to complimentary educational workshops covering their federal benefits. For details, visit: https://fedimpact.com/VWP Federal Benefit Resources: https://www.opm.gov/ https://www.tsp.gov/ https://www.myfederalretirement.com/category/podcasts/ https://www.myfederalretirement.com/ https://www.fedsmith.com/ Would you like to know more? https://www.valorwealthpartners.com/ https://www.linkedin.com/in/smithec/ https://www.linkedin.com/company/valor-wealth-partners https://www.facebook.com/ValorWealthPartners

Locality Pay is a significant bonus that most federal employees receive, but few understand how it works. For those that qualify, the lowest you will receive is 16.5%. The highest is a 44.15% bonus to your pay. In this episode we… • Define locality pay and explain why it is important. • Provide examples of how federal employees are using it to their advantage. • List the highest and lowest locality pay areas. Welcome to Financial Planning 4 Feds. We are dedicated to educating federal employees on how to maximize the value from their government benefits by developing and executing a financial plan. 0:00 Intro 1:21 Defining Locality Pay 3:11 How to Take Advantage of this Benefit 6:34 5 Highest and Lowest Locality Pay Areas Federal employees and their spouses are invited to complimentary educational workshops covering their federal benefits. For details, visit: https://fedimpact.com/VWP Resources for this Video: OPM Website – Pay & Leave Page: https://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/ FederalPay.org Locality Pay Map: https://www.federalpay.org/gs/locality US Bureau of Labor and Statistics Annual National Compensation Survey: https://www.bls.gov/eci/home.htm OPM Website – Locality Pay for Non-GS Employees: https://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/2022/extension-of-locality-pay-memo-for-non-gs-employees-2023.pdf OPM Website – Locality Pay Tables: https://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/salary-tables/pdf/2023/saltbl.pdf Federal Benefit Resources: https://www.opm.gov/ https://www.tsp.gov/ https://www.myfederalretirement.com/category/podcasts/ https://www.myfederalretirement.com/ https://www.fedsmith.com/ Would you like to know more? https://www.valorwealthpartners.com/ https://www.linkedin.com/in/smithec/ https://www.linkedin.com/company/valor-wealth-partners https://www.facebook.com/ValorWealthPartners

Debt. No one likes that word, I know. But debt and I’m mostly referring to high-interest debt, such as credit cards, is in a nutshell, hard. It’s hard on us not just financially, but mentally and even physically. In my experience working with federal employees, even some of the most well-paid haven’t been immune to falling into this trap. In this episode, we will highlight several ways in which you can escape the debt trap. Welcome to Financial Planning 4 Feds. We are dedicated to educating federal employees on how to maximize value from their government benefits by developing and executing a financial plan. 0:00 Intro 1:49 Admit there's a Problem 2:35 Strategize to Eliminate Debt 4:16 Get Help From a Professional 5:36 Changed Behavior Federal employees and their spouses are invited to complimentary educational workshops covering their federal benefits. For details, visit: https://fedimpact.com/VWP Federal Benefit Resources: https://www.opm.gov/ https://www.tsp.gov/ https://www.myfederalretirement.com/category/podcasts/ https://www.myfederalretirement.com/ https://www.fedsmith.com/ Would you like to know more? https://www.valorwealthpartners.com/ https://www.linkedin.com/in/smithec/ https://www.linkedin.com/company/valor-wealth-partners https://www.facebook.com/ValorWealthPartners

The Thrift Savings Plan’s G Fund had the highest percent gain last year. Does this mean all federal employees should move everything to the G Fund? Absolutely not. But, there are reasons why you would choose to invest in the G Fund this year. In this episode we… • Compare the G fund returns over the last 15 years to other core TSP funds • Make suggestions of when to invest or not in the G Fund Welcome to Financial Planning 4 Feds. We are dedicated to educating federal employees on how to maximize value from their government benefits by developing and executing a financial plan. 0:00 Intro 1:14 Compare the G fund returns over the last 15 years to other core TSP funds 4:34 suggestions of when to invest or not in the G Fund Federal employees and their spouses are invited to complimentary educational workshops covering their federal benefits. For details, visit: https://fedimpact.com/VWP Federal Benefit Resources: https://www.opm.gov/ https://www.tsp.gov/ https://www.myfederalretirement.com/category/podcasts/ https://www.myfederalretirement.com/ https://www.fedsmith.com/ Would you like to know more? https://www.valorwealthpartners.com/ https://www.linkedin.com/in/smithec/ https://www.linkedin.com/company/valor-wealth-partners https://www.facebook.com/ValorWealthPartners