Unique Financial Concerns and Solutions for Federal Employees

6.28.24: Audio automatically transcribed by Sonix

6.28.24: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Speaker1:
Well, welcome back to the federal retirement show. I'm your host, Val Majewski with American Benefits Exchange. As always, appreciate you taking the time out of your schedule to view our content. And as I've mentioned before, what we put out there, the goal is to help you, the federal employee, through your working career and into retirement with regard to your benefits, making the right choices, just having all the right information. So I talked to federal employees all the time. They give a lot of talks in front of small and very large groups. And a common theme, right? A common theme talking to federal employees is that they wish they would get this information when they were first hired. And unfortunately, uh, you fill out some paperwork, you go right to work. And a lot of these things are not properly explained to you as far as what the benefits are that you're signing up for, what the costs are, how things change over time, what your options are as you near and end to retirement, and how that affects your entire situation. Your bottom line. Right. Because the more benefits that you get, there's going to be cost for that. The government gives you some things for free, but not a lot of things for free. So you got to understand how those costs are, what they are, how they change, or how that affects your bottom line, your paycheck. But then also just even how to read your paycheck.

Speaker1:
If there's there are things that we do and we talk to federal employees, and the first thing we go over is your leave and earnings statement, your paycheck stub and and just all the codes, all the things, the deductions, what comes out it properly explaining those things so you can get a full understanding. Because what most people do when you get paid every two weeks is you just make sure that that direct deposit hits your account, and you may notice that it could vary slightly from time to time. Hopefully it's going up instead of going down. But if you notice, there's a difference. Why is it different? What changed? Have you scrutinized or at least looked at your leaving earning statement, your paycheck stub to see if there's any anomalies, anything that's different, anything that's a concern, right? I'm going to talk about those things today. So there are areas where we enlighten federal employees. We open up your eyes to say these are these are things that you need to look at. These are things you need to make sure are set up properly as you go through your career and then into retirement, so you can make sure you're set up properly. So I'm going to talk about that and we're going to dive into today's content. Today's topic is called Areas of concern for Federal employees and their remedies. So we're going to look at concerns.

Speaker1:
And then how do we remedy those concerns. So let's dive into today's topic again areas of concern for federal employees and their remedies. So what do I mean by this. Again I mean there are things right within your situation that you may or may not know about. And that's why we have these conversations. That's why this podcast, this radio show exists, is to provide information that we believe you need to know, because there are a lot of things. And one of those sayings that we have is you don't know what you don't know, but there are a lot of things that you may not know about, you may not know exist. You may not have a full understanding of of what these things are that you've signed up for or you've chosen when you first got hired. And trust me, if you haven't made any changes since you completed your paperwork when you first got hired, nothing has changed. There's no if the government doesn't look and say, you know what, this would be in your better interest. We're going to modify it and make it, uh, a change for you. We're going to put you in a better situation. You have to actively do that, because if you haven't made that change, it's still the same. So just a couple questions here to to start us off in the preface, our conversation today. Right. How would you discover.

Speaker1:
You were ill. Now, I apologize for the, uh, typo in there, but that should say, how would you discover you were ill? Okay, how would you discover you were ill? And most likely you'd have to take some action. Now we're talking about. Let's say you didn't realize anything was going on, right? Let's say you were just feeling okay. I'm just going to use your health for an example here, and I'll. I'll make the bridge over to your benefits and retirement in a second. But let's say you just said, hey, I feel pretty good. I think things are good. We're just we're chugging along. But what would alert you to knowing that you were ill when you regularly felt or ordinarily felt pretty darn good? You probably went to a doctor, right? You had an annual physical, you had a checkup, you did something. You took an action to just inquire about your overall health and what happened. They could come back and say, there's something here. There's some areas of concern. There's some items that we need to dive a little deeper into. There are some things that we need to research. We need to do some more testing. And you can be alerted to some areas of concern that you did not know about. Why? Because you went and voluntarily got a checkup. So that's where you go to see the expert. You go to see the doctor because you can diagnose yourself a little bit and say, I feel pretty good.

Speaker1:
But there are times when people are actually sick or have some concerns or some ailments that are, you know, going to be alarming to them, and they just didn't know it was going on. Why? Because you visited again, the expert, you got a checkup done. They did some tests, they did some digging and brought these things to light. Now, if you knew you were sick, right. Let's just say either now you just found out you thought you were in good health. You just found out that you were sick or you had a feeling, hey, something's not right, right? Something doesn't seem right. I've got this inkling this hurts or this doesn't feel good. But if you knew you were sick or ill, what would you do? You'd probably ask the doctor if he came to you and said, um, this is what we've got going on. This is a concern. You'd probably say, okay, how do we fix this, doc? What is it we do? What can you prescribe? What's the remedy? What is the solution here to this problem? So if you just found out you didn't know, or if you're thinking, yeah, I've. I need to go get this fixed. Right. Something doesn't feel right. I need to get this fixed. What would you do about it? Would you take their advice and go the route of treatment? Or would you just say, nah, I'm going to keep it the way it is? You would most likely if you knew you were sick, get it taken care of, you would seek wise counsel and you would get the remedy, the treatment, the prescription, the whatever to remedy that situation.

Speaker1:
That's what we're talking about today. So there's two things you may not know. Anything is of concern. You may not think your situation has any faults in it. There are any shortfalls. There are any negative things within your benefits and retirement situation as you're going through your career as a federal employee. But there are some of you that may say, yeah, I need to get a few things taken care of. It just doesn't feel right. Um, I'm looking at certain things. I'm looking at these costs, I'm looking at this situation, and I need to find a solution. I need to find a remedy. In both cases, what do you need to do? You need to go get a checkup. You need to see an expert. You need to talk to somebody like you would a doctor if your health was bad. You did talk to somebody who speaks language. Federal employees. Now, that's that's what we do. Hopefully through our content that you've seen through our 90 plus episodes up to this point, that we this is our area of expertise. This is the language we speak. Okay. Speaking with federal employees about benefits and retirement information is what we do on a daily basis.

Speaker1:
And our job, our goal is to give you accurate and honest information. So what do you do? You talk to somebody like us. Hopefully you'd want to talk to us and our team of reps across the country. Now how do you do that? First of all, you go to our website, Federal Retirement Show.com complete our form, request a benefit analysis. It's like going to request your regularly scheduled checkup, your physical, your routine doctor visit just to get an idea of where you stand. And what we would do is outline your entire situation. Look at all the ins and outs, make sure you have a full understanding of everything. Show you the good, the bad, the ugly and you can determine. Yeah, I am in pretty good health. We can obviously give you our opinion of that, just like a doctor would, but you can self-diagnose too. Once you have all that information, you can say, yeah, this looks pretty good. I'm on the right track and we can maybe confirm that with you, or we can maybe decide together. There are some things that we need to fix. There's some remedies out there. There's some solutions that can put you in a better situation. Now, what are those things that you might be concerned about? That's what we're going to discuss today. And these are by no means all of the areas of concern for federal employees.

Speaker1:
But these are some that we come across when we're talking. The people just like you. Reviewing thousands of situations each year and going through the different health checks, so to speak, these are some areas of concern that federal employees just like you have. You may or may not have all of these. You may have all, but you may just have a few. But let's double check and see what those are. So here are some main concerns. Right areas you may or may not know or problems for you. Number one. Now this is easy because it's just a simple math problem right? It's a simple question, but are you paying too much for fegli option B well, first of all, you may not even know if you have option B or not. How do we discover that? We look at your situation. We look at your leave and earning statement. We look through all the codes. We look through the the deductions that you have. If you're not paying for it, you don't have it. But if you're paying for it, you may notice that you're paying too much for it, or you will pay too much for it over time. We'll talk about that here in a second. Not having enough money or income in retirement. Big concern. How do we look at that? I'll talk about that in a second. Survivor benefits. Survivor benefits.

Speaker1:
There's a couple of things within that that I want to discuss with you. Number four, proper setup of Thrift Savings Plan. We get that question a lot when we give group presentations. You know, how should I set up my TSP. What are my options with my TSP? What should I do with my TSP? We can give some some guidance, some direction. Share some of those options with you. Debt. You've heard on our other episodes that we've given, we've we've had several where we talked about debt and the debt problem. Uh, I'll talk about that in a second. And disability and long term care needs. Now, these are what happens if I get hurt, injured. I'm in some kind of situation where I need additional care. What are my solutions for that? So let's dive into the first one. Paying too much for Fegli option B now what is option B? If you're not familiar, I highly recommend that you go back and look at our previous episodes about Fegley. Specifically, we have ones on option B and paying too much for that, but to keep it short, Fegli option B is additional coverage that you elected at some point. Generally when you first got hired, it allows you to get up to five times your salary and additional benefits, and the cost for this increases every five years starting at age 40. And initially those costs aren't drastic, but eventually it will double almost double, almost double more than double.

Speaker1:
And if I say the word double double more than double when it comes to cost, you can see how that can go up pretty darn fast. And at some point the cost for this gets way too expensive and most veteran employees will cancel this coverage. It's not something I generally see people holding on to for life, and especially into retirement, because those costs become astronomical. And you can see that, hey, I don't want to be paying this much for this coverage. So there are ways and we talk about the remedy now. So that's the problem. That's the area of concern. What is the solution? The solution is if you're in generally good health meaning you're in a state of health where you can qualify for outside life insurance. There are ways in which you can lock in your rate, meaning it's a rate that will not increase every five years. Starting at age 40. It will be locked in from day one whenever you get it and remain the same. Remain level for the duration of the plan. Now, whether that's a temporary plan or a permanent plan, the cost will remain level. Now what does that mean to you? A level cost instead of an increasing cost, even if you're going to end up paying a little bit more today to get this type of coverage or this plan, over time it will save you thousands, if not tens of thousands of dollars over the course of your career.

Speaker1:
So what kind of solution is this? This is a money saving solution. Finding a better way to pay for the exact same insurance coverage, if not more, right? The government says you can get up to five times your salary. What if you need more than that? A lot of times when we do a needs analysis for insurance, you need more than just five times your salary so you can customize it with a private plan. Customize also your cost because it's based on your health, not the health of the group. Because Fegli is a group life insurance plan and you can save yourself up to tens of thousands of dollars over the course of your career, we'll work in those tens of thousands of dollars in savings. Go. They can go towards your pocket, towards your checking or savings account, or towards your retirement. Pretty awesome. But a lot of people becomes too late, too far down the road. They're like, man, I wish I would have known about this earlier and I could have stopped the bleeding. I could have saved myself more money while I was younger and healthier before I saw these drastic increases. Yeah, so the earlier you can look into this, the better I say for every federal employee. This is just my opinion now. But in every federal employee that I've seen, that's healthy enough is has decent enough health to get private life insurance coverage.

Speaker1:
It is more cost effective for them over time. In every single case, everybody that's at least eligible to get a standard form of private life insurance will save money over time compared to. Should be. Get your review done. Let's see if this is an area of concern for you and how much money you can save over time. Not having enough. Now there's, uh, going back a few slides here, I said, not having enough retirement savings or not having enough income in retirement. So when we get to the the end of your career, you want to know that you have enough money to live on. Number one, you want to have enough retirement income. And we've done episodes where we say, hey, we want to at least cover, uh, we have a baseline, uh, income in retirement to cover our general expenses and then some with guaranteed lifetime income. And those things are like your pension, Social Security and others. Maybe you have a VA disability or a military pension or some other form of lifetime income. You want to make sure your general living expenses, your day to day is covered by those things. And why? Because the number one fear of retirees is running out of money, right? You want to make sure that you are not going to run out of money, or be in a situation where you don't have as much when you get through retirement.

Speaker1:
And hopefully that money, that income increases over time as well to help, uh, you know, prevent against not having enough due to inflation because you may think, yeah, this income amount is going to be great for me, but if it's level, it doesn't increase over time, then it's going to end up not having your dollar go as far as inflation and things cost more in the future. So you want to make sure you have enough. Now, how do you know this? Well, even if you're saying, well, retirement is 30 years away, 20 years away, what do I do? You need to get a retirement projection done, get a ballpark estimate of what your future is going to look like, and see if you're on the right track. And if you are great, you've got peace of mind. Just like that doctor checkup to say I'm good, my health is good, my retirement income health is good, and I know I'm on the right track and do a review every year or so, maybe every year or two, and just make sure you're on the right track in the same way you go to get a physical or a checkup every year, get a checkup as often as you'd like to, make sure you're on the right track because you don't want to say, hey, I did this, uh, early on in my career, and they said I was good, so I stuck with it.

Speaker1:
No. Do a review ongoing so that you can make sure and continue to ensure that you're on the right track. So what happens? What's the remedy if you realize you're not? Well, we're not miracle workers here, right? We're not magicians. Now, how do you have additional money in retirement? You have to put it aside. You have to provide for it. You're either going to if you have not enough in retirement, you're either going to have to change your lifestyle. In retirement. Most people don't want to do that. Most want to stay at the same level, right? Quality of life level that they're at prior to retirement. So how do you have money there for you if it's lacking? Once we do your review or analysis, you have to put additional money aside, and that means you can put more into your TSP, more into other types, supplemental retirement accounts. People look into Roth IRAs or Roth IRA alternatives, you know, tax free retirement strategies. Other ways to save additional monies for retirement. And trust me, if you over plan, over plan meaning you're putting enough aside today to over plan for retirement and ensure almost guarantee that you're going to have enough then some. You are not going to hate yourself. Your future self is not going to be disappointed if you have too much money in retirement.

Speaker1:
That's just a fact, right? You're going to love the fact that you planned younger when you were younger, instead of saying, ah, retirement will be here when it gets here and I'll deal with it then. No, you want to prepare? If not over prepare. Why? Because there are some things that could affect right? The the market volatility. If you're relying 100% on TSP and there's too much risk and boom you see a drastic decrease in that that can have a nasty effect on your retirement and your retirement income. What if Social Security is not there at the same capacity? Go back and view our episode about the 2023 Social Security Trustees Report. Go read the report and see what it says about the future of Social Security. So if you over prepare and make sure and ensure that you're going to have enough, you're going to love yourself in the future. Your future self, your your future retiree self of you is going to love the fact that you've prepared, if not over prepared. So how do we find that out? You got to get a review done to see, uh, what it looks like. Take a temperature check and see where you're at. Survivor benefits. Now there's two things here. Survivor benefit I'm going to say for your survivor, your beneficiary, your spouse and kids. You have what's known as option C with faculty. This is family, uh, spouse and kids life insurance that you can get up to.

Speaker1:
I just mentioned with option B five times your salary and additional life insurance coverage. How much can you get for your spouse? You get up to five times your salary for you. The maximum you can get on your spouse is five units or $25,000 worth of coverage. There's an imbalance there, and we need to correct that imbalance because if something happened to you, great. Maybe you've got five times your salary and they're covered. But if something happened to your spouse, do you have enough on them? We have to correct that imbalance. And at least get them towards a similar type of. Coverage amount that you have, because I know if something happened to my spouse. 25,000. Definitely not going to cover it, right? Especially if you've got younger kids at home. You have other things that you need to take care of in the future. We don't want to think of what happens, but we want to make sure we're prepared. If something did so correcting that imbalance for spouse and kids. On the life insurance side, the second area of concern is when it comes to survivor benefits. In retirement, you have the option to choose the survivor benefits plan. Now I'm going to stop here and say, yeah, go back and view our episodes on the survivor benefits plan, because that's an entire episode on itself. But you can see that there are costs for the program and there are shortfalls, downfalls of the program that the government offers when it comes to providing a portion of your pension, should you die first in retirement.

Speaker1:
So the two things, like I mentioned, the imbalance with the life insurance for your survivors, your spouse and kids, and then the options that you have as a retiree when you fill out your retirement paperwork, how much of your pension do you want to leave your spouse in the event you died first at retirement? Understand all the ins and outs about that. The good, the bad, the ugly, the costs that are involved with each survivor benefit option. Whether you're CSRs or Fers, there are different options for you and different costs involved. So you want to make sure you know all the variables and you right decision. Because some people would be like, well, after knowing all the facts, I don't want to take the survivor benefits. Or maybe after knowing the facts, you say, I just want to take a partial survivor benefit. I don't need the full amount. And we can look at other ways that you can provide a death benefit to your spouse and kids should something happen to you first, either while you're working or in retirement. So just understanding all of those options and not just going with the flow, this is what everybody does. The government offers me a survivor benefit.

Speaker1:
I can leave my my pension to my spouse. I'm just going to choose what the government gives me because that's all I know and that's all I think I have to choose from. That is incorrect. You need to know all of the things, right? It's not just, hey, everybody gets the same medication. Everybody belongs into the same situation because your situation is different than the person you work next to is different than the next person. So understand and understanding all of how these survivor benefit choices work and the impacts on your bottom line. The impact to your spouse. If something happened to you, you want to make sure you're making the right choice and setting your family up for success down the road. Now we want you to live long into retirement. But if something did happen, you want to be protected. Make sure your spouse and family is protected. So choosing the right survivor benefit option, making sure your spouse and kids are covered properly with life insurance. Those are concerns. And the remedy for that is again getting an analysis done, looking at your situation because there's no blanket response of how much life insurance a spouse needs or which survivor benefit option is right for you, we need to take a look deeper. Look at your situation to determine which one would be best suited for you guys. Tsp not properly setting this up both while you're working and in retirement.

Speaker1:
So there is no magic solution, right? I can't just whisper and be like, hey, put all of your money in XYZ fund because that's what's going to do best in the future. I don't have a crystal ball, and if I did, we wouldn't be doing this radio show. I'd be speaking from some TV station nationally broadcast and telling everybody the biggest stock tip ever. I don't have that. I don't think anybody else does, at least not legally. Right. But let's just make sure that we're setting your TSP up based on your risk tolerance. How do you know to do this? We need to know all the risks and all the facts and all the things that go into the different funds when it comes to your TSP, so you can determine your risk. Now that's where the first concern is am I taking too much? Am I not taking enough risk when it comes to my TSP investments? That's individualized. There is no, as I mentioned, blanket way to set up your TSP. There's no one size fits all for that. And the same comes with TSP as you near or into retirement. There are different functions, different purposes that people want their TSP to do for that. And when we take a deeper dive into this, uh, the concern is, well, what do I need to do with my TSP when I retire? There's not a one stop shop for that.

Speaker1:
There's not a one size fits all. As I mentioned earlier, for how to set up your TSP as you near or end to retirement, we need to look at your situation in the same way a doctor is analyzing everything we need to analyze. Ask some questions, figure out what function, what purpose, what your desire is, or your TSP. Why you've saved all this money. Do you have a purpose? Do you have an idea? Do you have something in mind that you want to do with this? A function that you want it to serve? And then based on all the information, based on all your answers, find the right solution for you and your family and you know, 100%. Yeah, this is great. This is going to do X, Y, and Z for me. I've got this set up. Here are the guarantees provided. And there's not a it's not an all or nothing deal either. You can take a portion of TSP, put it in this type of plan, take a portion of TSP and have it serve this function. Take an. Other portion and have it serve a different function. There are there are so many ways you can do it. It is customizable, which if anybody tells you different, I would run. I'm not trying to, you know, say that what that person is doing is not right. But there's not a one size fits all solution, so please don't fall into that.

Speaker1:
Make sure you're looking at what's right for you, and make sure whoever you're talking to understands your needs, your concerns, your desires. And it's not just, hey, do this because this is all that I do now. I want to find out. We want to find out what makes you tick, why you've saved this money, what purpose, what function you want it to serve. And then we go from there. So the remedy, the solution is totally different, right? I can't even give you some examples right now because we need to dive into your situation. We need to look at what makes you tick again and how you want to set this thing up. But this is huge because TSB I've mentioned this in our other trainings, our other episodes is the wild card when it comes to your pension, a lot of times TSP is left to carry the biggest weight when it comes to your retirement income. If you're going to use it for income. So you want to make sure you're making the right decision and setting it up properly for success, both while you're working and when you're in or entering retirement. Lastly, disability and long term care okay, disability and long term care. Um, I shouldn't say lastly because I've got one more after this, but disability and long term care. So we want to make sure that, uh, you are covered in case something were to happen in case something happened.

Speaker1:
And what do I mean by that? Well, the federal employee benefits, you know, programs that you have to choose from. One of them is the federal employee long term care insurance program, and they have stopped taking applications. That's not something that you can participate in, at least currently as of June of 2024. So what happens if you're in this kind of situation? Do you have some sort of protection? Do you have some sort of plan in place? The other thing about disability, I kind of went long term care first. Disability. You don't have true disability insurance short or long term when it comes to your federal employee benefits. And I would go back and view our episodes on disability and long term care. But you don't have true disability insurance with the government, both short and or long term. So just making sure that you have your coverages in place because you can get actual disability insurance, what you have with the government is leave. So for short term purposes, you can utilize your leave your annual or sick leave. And you also then if you want to go into a long term scenario, you don't have a true long term plan. You have disability retirement which takes an application. It could could be accepted or denied. But there are ways in which you can set yourself up to have true disability insurance that's designed specifically for federal employees, for short and or short and long term disability.

Speaker1:
So make sure you've got that in place. Because why? Why would this help? Well, you don't want to be out of work and utilize all your leave and then realize, hey, I don't have any more income coming in. Uh, because I'm on now leave without pay or I've used up all my leave and I'm still disabled. You would rather transfer that risk to an insurance company and pay pennies on the dollar to supply you with an income, a monthly income, should you become disabled and unable to work. So just understand that there there are things out there for you that the government doesn't offer that you can put in place and make sure you're covered. And these can be combined with some of the other things we've talked about earlier. Now, long term care. There are a lot of ways, a lot of theories, a lot of things about long term care and traditional long term care insurance. Um, can be kind of tough, right? But there are ways in which we can combine the long term care need with some of the other concerns that we've talked about today. With life insurance or retirement planning, you can provide a way to have long term care benefits in addition to those things, in addition to those things. So before we get to the end here, I want to say there's I didn't talk about debt and I'm going to bring that up last because that's something we normally discuss in the end.

Speaker1:
Right? We discuss debt after it. I didn't put it on a separate kind of tag, because when we talk about all these things, all these benefits rely on you, your your choices you made when you first got hired. And they can come directly out of your paycheck. You know, if you did participate in the long term challenge, uh, long term care insurance program, uh, or you're using your leave for disability purposes or TSP or Fegli or your retirement savings, all of those things are great on the front end, right? It's like it's like going to the doctor again. And and he's just checking out all the gears and your blood work and all these things. And it's like, look, here's where you currently stand, right when it comes to your overall health. But on the back end of that, if they don't also ask you about your habits, if they don't also ask you about your lifestyle, they don't also ask you about your nutrition. Then we're fighting a losing battle and the same comes with debt. Right? So if I can say, hey, let's plan for retirement, let's save as much as possible. Let's mitigate your costs. Let's make sure you're set up so effectively and so efficiently that you can't. There's no way you can fail.

Speaker1:
But I also don't talk about what's going out the back when it comes to debt, that I'm doing you a disservice. Our reps across the country are doing you a disservice. So you can be stockpiling, putting all this money into this bucket, right? But if there's a gaping hole at the bottom and that's what I'm talking about, money that's going out the door to debt service or to debt in general, then what are we doing? Right? We're just running on a treadmill. We're not really getting anywhere. So we have to talk about debt and analyze your debt situation. So as a doctor again, not only am I going to say this is where your health currently is, and here's all of your benefits and retirement information. This is what it stands like. But let's talk about your nutrition. Let's talk about your lifestyle habits. Let's talk about what's what's uh, you know, fueling this to make you and put you in good or bad health. We have to get to the root of the problem. A lot of it comes back to debt and how we treat debt, how we handle debt, how we mitigate debt. And there are solutions out there that we help federal employees with when it comes to eliminating debt. And a fraction of the time we've done other episodes and other sessions on debt. So I highly recommend going back and checking that out. Whether you have just a mortgage or one debt or you've got I've talked to people that have multiple debts, 20 plus debts.

Speaker1:
We can help you designing a plan to get out of debt in a fraction of the time, and at the same time saving more money for retirement, preparing more for your future. What happens if we free up? Uh, we get rid of debt, right? All those payments that we're going to debt are now no longer going to debt. They're freed up on a monthly basis. What can you do with those? You've got more freedom to do what you want to save more for retirement, to live a better lifestyle, to provide more for your family, to not be, uh, stuck behind the negative effects of of compounding interest. Right. We want to get you on the positive side of compounding interest and get you out of that interest kind of nightmare where you're paying high, high rates for credit cards or car loans or home equity loans or personal loans or whatever it might be. So if you have any of these concerns and then some reach out to us, we'd love to go over your situation. And like a doctor, I'm not claiming we are doctors, but like doctors. Analyze your situation, find some, uh, pain points, some areas of concern. There are any. And then provide solutions, some remedies to those problems. To put you in a better situation. You can have the peace of mind going forward that you are set up properly.

Speaker1:
That does that mean it's set it and forget it? No, you've got to get regular checkups as you go and just make sure. But if you're doing the right things, you're staying the course. You're not falling off, then we can just give you that clean bill of health every single time. Say, hey, you're doing the right thing. Keep it up. Let's stay on track. Let's keep going. And then when you get to retirement, you're going to love the fact that you planned ahead and you just didn't wing it. You just didn't hope that everything was on, uh, the right track or going the way it should. You will know 100% that you're doing what you need to do to prepare for retirement and live in retirement the way you want to, how you want to. So really, thank you for taking the time to join me and learn about the concerns and remedies for different things within the federal system. Reach out to us. Get your checkup done right, get your benefits analysis done, your retirement workup done so you can see exactly where you stand. Get a health check, so to speak, and then see any areas of concern if there are any. And the solutions, the remedies to those. Again, my name is Val Majewski with American Benefits Exchange. I appreciate you taking the time to view our content. Go back and view our previous episodes. Highly recommend it and we look forward to seeing you on a future session.

Sonix is the world’s most advanced automated transcription, translation, and subtitling platform. Fast, accurate, and affordable.

Automatically convert your mp3 files to text (txt file), Microsoft Word (docx file), and SubRip Subtitle (srt file) in minutes.

Sonix has many features that you'd love including transcribe multiple languages, powerful integrations and APIs, automated translation, secure transcription and file storage, and easily transcribe your Zoom meetings. Try Sonix for free today.