Free Washington Retirement Planning Community and Courses

What exactly is a financial plan, and do you really need one?

In this episode of the Washington Retirement Planning Podcast, Ethan breaks down what a financial plan is, what it should include, and why having a clear roadmap can help you make smarter decisions about retirement, taxes, investing, and long-term financial security. From cash flow projections and retirement income planning to tax strategies and "what-if" scenarios, you'll learn how a comprehensive financial plan can help bring clarity to your future.

Later in the episode, Ethan answers a listener question about one of the biggest concerns facing early retirees: how to pay for healthcare before Medicare begins at age 65. He discusses PEBB retiree coverage, COBRA options, VEBA accounts, retirement savings strategies, and how Washington State annuity options can help create reliable income to cover healthcare expenses.

Whether you're decades away from retirement or preparing to leave work soon, this episode provides practical guidance for building a retirement plan with confidence.

00:00 Introduction

00:20 What is a financial plan?

01:36 Key components of a comprehensive financial plan

03:11 When should you create a financial plan?

03:48 How to find a financial planner

04:45 What financial plans typically cost

06:23 Why financial planning is an ongoing process

06:42 Listener question: Paying for healthcare before age 65

07:46 PEBB retiree coverage vs. COBRA

10:13 How to fund pre-Medicare healthcare costs

11:30 Using VEBA and sick leave benefits

13:43 Using annuities to cover healthcare expenses

17:31 Important annuity deadlines and planning considerations

18:30 Final thoughts on retirement healthcare planning

19:15 Resources and community support

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

🙋🏽‍♀️ Need help? Schedule A Meeting :

https://calendly.com/scenicfinancial

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

🎯Get TRS 3, PERS 3 & DCP Investment Advice Here:

💥💥 https://scenicfinancial.net/scenic-plan-confidence1/💥💥

The Only Place To Receive Ongoing, Personalized Investment Advice, So You Can Confidently Invest In Your TRS 3, PERS 3 & DCP Retirement Plans!

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

🕸 Visit Us Online:

Scenicfinancial.com

WATRSPERS.com

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

DISCLAIMER

**Advisory Services offered through Intirety, LLC a registered investment adviser. Intirety LLC and Scenic Financial are not associated with the Washington State Department of Retirement in any way. Scenic Financial makes content available as a service to its clients and other visitors, to be used for informational purposes only. While our best intentions are to provide accurate and timely information, you should always consult with retirement, tax, and legal professionals prior to taking any action. 🕸️

Free Washington Retirement Planning Community⁠⁠⁠

Should you use the TAP annuity when you retire?

In this episode of the Washington Retirement Planning Podcast, we break down one of the most powerful and misunderstood retirement tools available to Washington State Plan 3 members.

We cover how the TAP annuity works, who can use it, when you can purchase it, and why it may help create more reliable retirement income. We also discuss the guaranteed lifetime income feature, the 3% annual COLA, common myths surrounding TAP, and why many retirees underestimate the value of guaranteed income.

You'll also learn:

• How TAP converts Plan 3 savings into lifetime income
• Why TAP can only be purchased with Plan 3 funds
• The impact of interest rates on TAP payouts
• Why returns and retirement income are not the same thing
• Common mistakes retirees make with Plan 3 accounts
• How TAP can help cover healthcare costs in retirement
• What happens to unused TAP funds when you pass away

In the second half of the episode, we answer a community question about maximizing Washington State retirement benefits and discuss savings strategies, healthcare planning, retirement timing, and survivor benefit decisions.

Whether you're approaching retirement or already separated from service, understanding TAP could have a major impact on your retirement income plan.

00:00 Introduction and today's topics
01:23 What the TAP annuity is and how it works
03:07 TAP eligibility, separation from service, and payout rates
05:31 Why TAP is different from private annuities
07:07 Returns do not equal retirement income
12:17 Common TAP mistakes and beneficiary myths
16:40 Five ways to maximize Washington State retirement benefits
20:59 Understanding retirement timing and pension decisions
23:15 Survivor benefit options explainedLinks:

1. Free Washington Retirement Planning Community⁠⁠

2. ⁠Plan 3 Investment Advice⁠

3. ⁠Schedule Meeting⁠

4. More free resources at ⁠WATRSPERS.com⁠

Free Washington Retirement Planning Community and Courses

What should you actually do with your Plan 3 account once you retire?

This is one of the most common questions Washington State employees ask, and the answer isn’t one-size-fits-all.

In this episode, we break down the real options you have after separating from service, including when it makes sense to keep your money in Plan 3, move it out, or use it to create additional guaranteed income.

We also walk through how the TAP annuity works, when it might make sense, and why it can be a powerful tool for covering fixed expenses like healthcare in retirement.

Then we shift into a full update on recent Washington State retirement-related legislation, including what passed, what didn’t, and what it could have meant for your pension.

Topics covered:

- What to do with your Plan 3 account after retirement

- When a TAP annuity makes sense

- Why many people choose to roll funds into an IRA

- Investment flexibility and tax planning opportunities

- Recent Washington State pension and benefits legislation updates

If you're approaching retirement or just planning ahead, this episode will help you think through your next move with your Plan 3 money.

Links:

1. Free Washington Retirement Planning Community⁠⁠

2. ⁠Plan 3 Investment Advice⁠

3. ⁠Schedule Meeting⁠

4. More free resources at ⁠WATRSPERS.com⁠

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

🙋🏽‍♀️ Need help? Schedule A Meeting :

https://calendly.com/scenicfinancial

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

🎯Get TRS 3, PERS 3 & DCP Investment Advice Here:

💥💥 https://scenicfinancial.net/scenic-plan-confidence1/💥💥

The Only Place To Receive Ongoing, Personalized Investment Advice, So You Can Confidently Invest In Your TRS 3, PERS 3 & DCP Retirement Plans!

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

🕸 Visit Us Online:

Scenicfinancial.com

WATRSPERS.com

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

DISCLAIMER

**Advisory Services offered through Intirety, LLC a registered investment adviser. Intirety LLC and Scenic Financial are not associated with the Washington State Department of Retirement in any way. Scenic Financial makes content available as a service to its clients and other visitors, to be used for informational purposes only. While our best intentions are to provide accurate and timely information, you should always consult with retirement, tax, and legal professionals prior to taking any action. 🕸️