(Formally HigherEd Retire Podcast)

Welcome back, everyone to another episode of HigherEd Retire! Greg Shepard here from S&A Financial Services, your go-to guide for navigating the complexities of higher education retirement plans, especially those involving TIAA accounts. Today, I've got a game-changing strategy to share, especially tailored for those with a significant age difference between spouses.

In a recent scenario, I encountered a participant on the verge of retirement, holding a substantial $700,000+ in TIAA Traditional within an illiquid contract. The catch? His spouse was nine years younger, setting the stage for a unique approach to address liquidity and estate planning concerns.

Join me as we delve into a groundbreaking alternative to the traditional lifetime income annuity option - the 10-year TPA (Transfer Payout Annuity). We'll explore why, in this specific case, the age difference played a pivotal role in making the 10-year TPA a more attractive choice.

By opting for the 10-year TPA, paid out over nine years with annual payments directed to a Rollover IRA, this couple gained increased liquidity and enhanced estate planning benefits. Discover why this strategy might be your game-changer too, especially if you find yourself in a similar age-discrepant situation.

A quick reminder: this episode isn't investment advice, but rather a tool to empower you with knowledge about TIAA Traditional rules and alternative extraction methods. Make sure you understand the nuances of your retirement plan and, if applicable, explore options like the 10-year TPA.

If you've got questions or want to share your unique situation, feel free to reach out to me.

YouTube Channel

📆 Jump on my calendar to see how we can improve your higher ed retirement plan

Website:

www.safinancialservices.com

email: [email protected]

913-521-2381

*Disclosure* S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.

(Formally HigherEd Retire Podcast)

Welcome back to another insightful episode of HigherEd Retire where we unravel the complexities of higher education retirement plans.

I'm Greg Shepard from S&A Financial Services, your dedicated guide in maximizing your retirement benefits.

Episode Highlights:

1. The Higher Ed Retirement Puzzle:       

Delving into the labyrinth of higher education retirement plans, which often prove perplexing for those navigating TIAA accounts.       

Drawing on two decades of experience, I've encountered consistent mistakes that can significantly impact your financial future.

2. The Scenario: Group Retirement Annuity (GRA) to TIAA Traditional Illiquidity:       

Illustrating a real-life scenario of an individual with a substantial GRA within TIAA.       

The allure of TIAA Traditional's new rate (6.75% as of Nov 2023) tempts the move from

underperforming bond funds.

3. The Unintended Illiquidity:       

Emphasizing the unintended consequence of illiquidity when transferring substantial sums into TIAA Traditional.       

A cautionary tale of an account becoming illiquid, limiting withdrawal options.

4. The Client's Dilemma: Solutions and Options:       

The client, realizing the mistake, sought professional guidance to navigate the complexities.       

Exploring solutions such as the Transfer Payout Annuity (TPA) to reinvest and the 120-day separation strategy.

5. Public Service Announcement (PSA): Do Your Homework:       

A crucial reminder to scrutinize and understand the liquidity aspects of TIAA Traditional before making any moves.       

Advising listeners to reach out to TIAA or contact me for personalized guidance.

Conclusion:       

In conclusion, this episode serves as a beacon of caution and enlightenment for those contemplating moves within TIAA Traditional.       

Don't let your retirement plans become victims of unintended illiquidity; learn from the

experiences shared here.       

For personalized advice or questions, don't hesitate to reach out. Your financial well-being is our priority.

YouTube Video Channel

Make sure to Connect w/ us - https://tiaasimplified.com/

📆 Jump on my calendar to see how we can improve your higher ed retirement plan

https://calendly.com/greg-safinancial...

email: [email protected]

913-521-2381

Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.

Are you in the world of higher education retirement plans? Greg Shepard from S&A Financial Services has some crucial insights to share with you.

In this episode, he breaks down a common assumption some make when it comes to retirement planning – that you have to leave your accounts with your current higher education retirement plan vendor. Greg clears up this misconception and explains the diverse options you have when it comes to managing your retirement savings.

Key Highlights:

1. Empowering Choices: Greg encourages those in higher education not to feel tied to their current retirement plan vendor. Your money, your choice – he highlights the importance of knowing your options.

2. Real-Life Scenarios: Greg shares real-life situations where individuals assumed they had to stick with their existing vendor but discovered there are alternative solutions for their retirement savings.

3. Options Beyond TIAA: While Greg's focus is on TIAA, he emphasizes that this principle applies to all retirement plan vendors across the board. You have the freedom to decide what's best for your financial future.

4. Efficiency and Combinations: Greg discusses how you can maximize your retirement strategy by utilizing the strengths of multiple vendors, creating a more efficient and tailored retirement plan.

5. Get Informed: Don't miss out on potential opportunities due to assumptions. Greg welcomes your questions, comments, and thoughts on this vital topic. Reach out to him, and he'll provide his expert insights to help you make informed decisions.

If you're in the world of higher education and managing your retirement plan, this episode is a must. Greg Shepard explains how you can have greater control over your financial future by breaking free from the assumption that you're locked into one vendor. Explore your choices and empower your retirement savings strategy.

YouTube Video Channel

📆 Jump on my calendar to see how we can improve your higher ed retirement plan

https://calendly.com/greg-safinancial...

email: [email protected]

913-521-2381

Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.

(Formally HigherEd Retire Podcast)

Join Greg Shepard, specialist in higher education retirement plans, as he shares with you the most popular TIAA Traditional strategies you should think about implementing. Greg has been helping those in higher education for over 20yrs so he'll share some invaluable information in this episode.

Listen as he talks through an actual client TIAA Traditional scenario and explains the options afforded to him. Greg shares with you the tool to use on TIAA's website that can really help you out when it comes to your strategy planning. However, as he states in this episode, it can get even more confusing than you may think due to the fact that not ALL strategies may not be shown on the website.

Lastly, Greg emphasizes how important it is for you to know and understand all the options available to you when dealing with TIAA Traditional. This is where a knowledgeable fee-only financial advisor could deliver high-level value.

YouTube Video Channel

📆 Jump on my calendar to see how we can improve your higher ed retirement plan

https://calendly.com/greg-safinancial...

email: [email protected]

913-521-2381

Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.

(Formally HigherEd Retire Podcast)

In this episode, Greg Shepard, host of Higher Ed Retire Podcast, will share with you how one would transfer money out of TIAA Traditional in an illiquid account in order to take advantage of higher rates of TIAA Traditional inside a liquid account.

As always, Greg stresses that this is NOT investment advice and this particular strategy will be plan specific so make sure to check with TIAA prior to implementing this strategy or any other strategy discussed in this podcast.

As Greg mentions, this strategy will probably apply to a lot of those in higher education and this goes to show that there are a lot of different nuances / strategies one could initiate and never even know it was available to them.

Listen as Greg shares with you the logistics of how this strategy works as well. Probably the most difficult part of this particular strategy is getting the correct paperwork, which certainly can get confusing and frustrating.

Lastly, Greg shares with you how important it can be to have someone in your corner when navigating these tricky waters and necessarily relying 100% on TIAA reps.

YouTube Video Channel

📆 Jump on my calendar to see how we can improve your higher ed retirement plan

https://calendly.com/greg-safinancial...

email: [email protected]

913-521-2381

Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.

(Formally HigherEd Retire Podcast)

Do you find yourself a little overwhelmed because you're about to transition into retirement and you don't really have a great grasp on the financial game plan?

Trust me, you're not alone. In this episode, listen as Greg Shepard shares with you a recent encounter he had with someone in that exact situation. You'll hear how Greg stopped this individual in mid-explanation, took a "step back" and simplified things. After Greg was able to share with this individual a simpler, more income producing strategy, he and his wife were able to finally understand the plan and feel less stressed regarding their future.

Lastly, Greg shares with you an email he received the day of this recording regarding someone he had been helping deciding to choose the Interest Only option for 100% of their TIAA account. A little unusual, but listen as to why Greg agreed with this strategy - just maybe it could help you out as well with your TIAA account.

YouTube Video Channel

📆 Jump on my calendar to see how we can improve your higher ed retirement plan

https://calendly.com/greg-safinancial...

email: [email protected]

913-521-2381

Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.

(Formally HigherEd Retire Podcast)

In this episode, Greg Shepard, who specializes in helping those in higher education get the most out of their retirement plan, shares with you the 3 most recent popular questions / topics asked to him from those viewing is YouTube channel.

In this episode, Greg shares with you what one can do if their TPA (Transfer Payout Annuity) from TIAA Traditional exceeds that of the RMD (Required Minimum Distribution). Question posed to Greg regarding this issue is can one take the difference (the TPA dollar amount greater than RMD) and direct that towards IRA rather than taking the income?

The answer is Yes, but the logistics of accomplishing this is a little trickier than one may think.

Also, piggybacking off the first topic, higher ed employees wanted to know if they could transfer TIAA Traditional balance NOT converted to a Lifetime Income Annuity?

Again, the answer is a resounding Yes, but listen to Greg as he shares with you how to accomplish this.

Lastly, Greg shares with you something he's discussed in prior podcasts. With TIAA Traditional realizing such high interest rates, does it make sense to use this fixed investment as a bond alternative?

The answer is Maybe, depending on your contract and how you feel about the liquidity issues around TIAA Traditional. Again, listen to this episode and Greg will talk you through the nuances.

YouTube Video Channel

https://www.youtube.com/@higheredretire4534

📆 Jump on my calendar to see how we can improve your higher ed retirement plan

https://calendly.com/greg-safinancial...

email: [email protected]

913-521-2381

Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.

(Formally HigherEd Retire Podcast)

In this episode, listen as Greg shares with you another case where a university participant incorrectly implemented a fairly popular strategy when it comes to TIAA Traditional.

Use this as a cautionary tale for you to not repeat the same pitfall. As Greg states over-and-over again, it's well worth your time to discuss anything dealing with TIAA Traditional with a professional that has experience in dealing with TIAA.

In this case, the participant did call TIAA for the transaction, but didn't necessarily ask about the strategy or if he was implementing it correctly. Remember, it's not TIAA rep's responsibility to acknowledge one-way-or another if you're implementing a certain strategy correctly. They are not your fiduciary advisor. They will simply give you information and execute the instructions you give them.

Unfortunately, in this case, the idea was great, but poor execution cost the participant a tax liability on $200,000. Don't let this be you....!

🎤 Podcast Episode - Why I'm a Hypocrite on TIAA Traditional

https://podcasts.captivate.fm/media/d...

📆 Jump on my calendar to see how we can improve your higher ed retirement plan

https://calendly.com/greg-safinancial...

email: [email protected]

913-521-2381

Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.

(Formally HigherEd Retire Podcast)

In this episode, Greg updates the popular episode "TIAA Traditional - Financial Advisor's View" recorded back in January of 2023. Lot's has transpired in that 4ish months and even Greg has learned new tricks-of-the-trade when it comes to TIAA Traditional.

Listen as Greg shares with you 3 quick strategies regarding TIAA Traditional. Keep in mind, these strategies are discussed in more depth on other podcast episodes and Greg's YouTube Channel as well.

This episode is a tale of one financial advisor changing his view on TIAA Traditional within a span of less than one year. Listen to this episode and find out why....

🎤 Podcast Episode - Why I'm a Hypocrite on TIAA Traditional

https://podcasts.captivate.fm/media/d...

📆 Jump on my calendar to see how we can improve your higher ed retirement plan

https://calendly.com/greg-safinancial...

email: [email protected]

913-521-2381

Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.

(Formally HigherEd Retire Podcast)

This, very well, may be the most important Podcast episode I've done to-date.

In this episode listen as Greg shares with you a cautionary tale of someone who watched my videos, listened to podcast episodes, and did a great job of arming themselves with good information they didn't know prior.

Then, turning around and doing the exact opposite of what he learned. He ran into a very nice, well-dressed financial advisor that convinced him to do just about the opposite of what he thought he should do (by way of learning through videos / podcast).

Greg shares this with you so you don't go down this cautionary path as well.

As always, if you'd like to bounce ideas off of me regarding your situation, by all means, feel free to do so....

🎤 Podcast Episode - Why I'm a Hypocrite on TIAA Traditional

https://podcasts.captivate.fm/media/d...

📆 Jump on my calendar to see how we can improve your higher ed retirement plan

https://calendly.com/greg-safinancial...

email: [email protected]

913-521-2381

Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.