Show cover of Federal Employee Financial Planning Podcast

Federal Employee Financial Planning Podcast

Federal employee benefits are among the most comprehensive and strongest in the country. Financial planning for federal employees requires knowledge of both financial planning concepts and a comprehensive understanding of these benefits. General financial planning advice is just that, general. We speak specifically to federal employees and the unique planning techniques and strategies to help them maximize their benefits. Mason & Associates have over three decades serving as financial planners for federal employees.

Tracks

Are you a federal employee curious about the best mortgage strategies in today’s market? In this episode, John and Tommy are joined by James Anderson, Regional Market Manager at CapCenter, to explore how inflation, interest rates, and economic resilience impact federal employees looking to buy or refinance. Learn how income is defined for mortgage purposes, why interest rates might improve over time, how to navigate today’s market without waiting for rates to drop, and how federal retirees can downsize smartly.  Access the full show notes at Mason & Associates, LLC

12/9/24 • 47:32

Are you still relying on traditional tax preparation methods or software? In this episode, John, Tommy, and special guest Rachel Meredith from Banks Mountain Financial dive into the crucial difference between tax planning and simple tax preparation. They explain why a proactive, year-round tax strategy is key to long-term financial success, as well as how their seamless collaboration helps clients navigate tax challenges with a forward-thinking approach. Access the full show notes at Mason & Associates, LLC  

11/25/24 • 66:07

Are you paying the right price for financial advice? Join Ben, Michael, John, and Tommy as they break down the complexities of financial advisor fees and the real value behind them. They’ll reveal the “all-in” costs clients face and explain why fees aren’t always comparable, shedding light on what makes a financial advisor worth their price. Through this episode, you’ll learn to assess the true worth of specialized advisors and why experience, like that of a seasoned CFP or CPA, might demand a higher price tag. Access the full show notes at Mason & Associates, LLC

11/11/24 • 51:46

What happens when emotions mix with investments? In this episode, we dive into the intersection of politics, markets, and personal finance. John and Tommy share insights on how to design a portfolio that minimizes unknowns, regardless of political changes. You’ll learn why staying the course is crucial—even when market predictions seem tempting—and how a solid, long-term strategy can help you avoid emotional pitfalls. Access the full show notes at Mason & Associates, LLC

10/31/24 • 52:51

Are you a federal employee planning for retirement but feeling overwhelmed by your options? In this episode, Michael, Ben, Tommy, and John break down the Federal Employee Retirement System (FERS), explaining key retirement benefits and strategies to maximize your pension. From the differences between immediate retirements to the role of sick leave and survivor benefits, this episode covers what you need to know. Access the full show notes at Mason & Associates, LLC

10/28/24 • 47:16

What happens to your estate planning documents when you move between states? In this episode, Megan Ingram and Julie Steinbacher from Steinbacher, Goodall & Yurchak share expert advice on the legal implications of relocating and how it affects your estate plan. You'll learn about the importance of keeping your documents updated, especially after major life changes or moves, and how laws like the Uniform Trust Act help estate documents travel across state lines. Access the full show notes at Mason & Associates, LLC

10/14/24 • 80:25

Are you confused about when to refinance your mortgage or how interest rates affect your decisions? In this episode, John, Tommy, and Ben dive into critical financial topics for federal retirees navigating today's housing market. You'll learn about the challenges of refinancing, when it's a good idea, and when you might want to hold off. They also explore discount points, what makes buying a home more difficult now than in the past, and how to prepare for future market changes. Access the full show notes at Mason & Associates, LLC

9/30/24 • 47:11

Are you truly prepared for the unexpected? In this episode, Michael, Tommy, and John dive into how to protect yourself financially, tackling the common objections and biases they encounter in their decades of experience. You’ll hear key insights on insurance, including how to ensure you’re covered before you need it, how FEGLI Option B compares to Basic, and why life and disability insurance are non-negotiable. Listen in to learn why it's crucial to plan both for living a long, fulfilling life and the unexpected realities that could happen tomorrow.  Access the full show notes at Mason & Associates, LLC

9/16/24 • 48:54

What’s the best way to maximize your Social Security benefits? In this episode, Tommy and John dive into this critical topic with expert Elaine Floyd, CFP®, who shares insights from her extensive experience in retirement and life planning. Elaine explains the intricacies of Social Security, emphasizing that your benefit and retirement strategy should be tailored to your unique situation, rather than following a one-size-fits-all approach. Access the full show notes at Mason & Associates, LLC

9/2/24 • 57:25

Is it the right time to hire a financial planner? In this episode, Tommy, John, and Michael dive into the intricacies of financial planning and highlight the importance of expert guidance. They discuss the pitfalls of trying to manage your finances alone, the risks of bad advice, and why getting professional help early on can make all the difference.  Access the full show notes at Mason & Associates, LLC

8/19/24 • 43:01

Are you wealthier than you think? In this episode, John, Tommy, and Mike will explore how you can activate your millionaire powers and start making decisions based on what you can afford, rather than what you think you can’t. They’ll discuss the importance of having a proactive approach to financial planning, so you’re prepared to make well-informed decisions before it’s too late. Access the full show notes at Mason & Associates, LLC

8/5/24 • 47:05

What goes into a successful strategic planning meeting? In this episode, Tommy, John, Ben, and Michael dive into their strategic planning meeting season, sharing valuable insights and lessons learned. They discuss the importance of holding these meetings to ensure everyone is aligned in their financial plans for 2024. You'll learn why it's crucial to plan for your future early and avoid letting retirement sneak up on you, as well as the significance of having a consistent and smooth approach to retirement planning. Access the full show notes at Mason & Associates, LLC

7/22/24 • 43:30

Have you considered whether your financial plan can adapt to fit your life as things change? Join Tommy, Michael, John, and Ben in this episode as they unpack distribution planning assumptions and explain why a one-time financial plan falls short. They tackle the myth that running out of money equals failure, highlighting how other income sources like federal benefits and investments can play a crucial role in financial security.  Access the full show notes at Mason & Associates, LLC

7/8/24 • 44:20

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

6/24/24 • 45:53

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

6/10/24 • 40:11

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  

5/27/24 • 44:30

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

5/13/24 • 39:42

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

4/29/24 • 41:49

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

4/15/24 • 43:44

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

4/1/24 • 33:40

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

3/18/24 • 40:24

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

3/4/24 • 37:58

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

2/19/24 • 42:07

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

2/5/24 • 38:14

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

1/22/24 • 41:07

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

1/8/24 • 31:44

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

12/25/23 • 29:10

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

12/11/23 • 44:15

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

12/11/23 • 41:00

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

11/27/23 • 38:54