Episode 315: Retiring with Federal Funds with Mike Grimm

Not Your Average Financial Podcast™

In this episode, we ask:

• Who do you know who needs to hear this?
• How about the true story of Ida May Fuller? Have you heard of her?
• How many federal employees are set to retire soon?
• Who is Mike Grimm?
• What happened when Mike and Mark were biking in Jackson Hole, WY?
• What about coming down the mountain?
• What is Mike’s story?
• What sort of benefits packages do government employees have?
• What was Mike’s work with nuclear weapons like?
• How are federal employees different from private sector employees?
• What are the three legs of benefits for government employees?
• What about the FERS annuity?
• What about the thrift savings plan (TSP)?
• What about social security benefits?
• What about defined benefit plans and defined contribution plans?
• What are the two main retirement systems?
• What changed in 1984?
• What about newer government employees?
• What about SERS and FERS?
• What about pensions?
• What are the factors contributing to benefits?
• How is a TSP like a 401(k) for the federal government?
• When did Mike realize he had a passion for helping federal employees?
• What happens when federal employees hit retirement?
• What about working longer and the tax implications?
• When should one start the planning process?
• Why do I want to continue my work?
• Do I need to work extra years?
• Where does Mike work, and what is the process?
• Would you like to email Mike?
• Would you like to read Mike’s book?
• What can you expect in retirement?
• How many years in advance do you need to get started?
• Have your read through your pension benefits?
• Have you decided what you believe about taxes?
• What do federal employees need to pay attention to?
• When is a good time to reach out to Mike?

Mike Grimm is the president and founder of Federal Employee Benefits Professionals. He specializes in federal employee benefits and retirement planning. Before starting his business, Mike retired from the US Government as a Federal Agent/Deputy Director with the National Nuclear Security Administration. Mike’s current mission is to help federal employees manage their benefits for a safe and secure retirement.