Fund Your Future with DRS

Washington State Department of Retirement Systems
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A large part of planning for the future starts with how you approach your finances today. Explore some of the basics of financial planning, tools for managing your money and ideas for sparking conversations with friends and family. Join Retirement System employees as they tackle the stigma around money and share their personal financial journeys.

  1. HÁ 2 DIAS

    Ep 73 - Book review: "The Simple Path to Wealth" by JL Collins

    Sometimes people get overwhelmed trying to find the “right” financial advice. But for a simple and effective method, look no further than "The Simple Path to Wealth" by JL Collins. His three core rules - spend less than you earn, invest the extra in low-cost index funds, and avoid debt - have become a strong foundation for those looking to grow financially. We discuss Collins’ approach to compound interest and simplifying your finances.

    21min

  2. 17 DE SET.

    Ep 72 - LEOFF Plan 1: How a pension turned into an endowment

    Washington state has some of the strongest-funded pensions in the nation. In this episode, we sit down with Washington State Actuary, Matt Smith, to unpack why the Law Enforcement Officers' and Fire Fighters' (LEOFF) Plan 1 has an expected surplus. Matt breaks down simple ways to measure pension health, why LEOFF 1 now looks more like an endowment, and the policy and legal questions lawmakers face when deciding how to use expected surplus pension funds.

    18min

  3. 3 DE SET.

    Ep 71 - Rethinking early retirement: downshifting, not disappearing

    What does it really mean to retire early? Is it about leaving work behind completely, or is it more about creating flexibility, freedom, and balance sooner rather than later? We’re joined by Christine, a DRS employee who’s been carefully planning for her future since her mid-20s. She shares how her perspective on retirement has evolved: from imagining it as “stopping work altogether” to thinking about it as a chance to downshift: maybe working part-time, pursuing a different role, or finding new ways to stay engaged without the 9-to-5 grind.

    26min

  4. 20 DE AGO.

    Ep 70 - How to plan for a micro-retirement

    The term micro-retirement is becoming popular with people of all ages. The idea involves stepping away from the workforce for an extended period to pursue passions, travel, recharge, or learn new skills, essentially hitting the reset button on life. We look at perspectives and planning strategies to help you make micro-retirement a viable, enriching option.

    17min

  5. 6 DE AGO.

    Ep 69 - What is a record keeper?

    If you’ve ever seen the name Voya Financial with your DCP or Plan 3 account and wondered what they do, this episode is for you. We look at the role of a record keeper: helping process transactions, maintain accounts, and support over 400,000 customers! We also look at what record keepers don’t do and how they differ from investment managers. Tune in to find out how record keepers play a key role in making your retirement accounts run smoothly.

    20min

  6. 16 DE JUL.

    Ep 68 - Understanding COLAs and the CPI Connection

    Why do pensions sometimes go up? In this episode, we talk with Matt Smith, the state actuary, about COLAs (Cost of Living Adjustment) and how it’s tied to inflation. Matt explains how prices are tracked using the Consumer Price Index for Urban Workers (CPI-U) and why that matters for your pension. We also look at why COLAs are based on prices in the Seattle area, even if you live somewhere else. Tune in to find out how inflation and COLAs work together to shape your retirement income.

    12min

  7. 2 DE JUL.

    Ep 67 - Why the rule of 72 feels like magic (but isn’t)

    If you ever wanted a quick way to estimate how many years it’ll take for your investments to double, take 72 and divide it by the interest rate. In this episode, we explore how this a great way to think about the power of compound interest. If you’re early in your career, it may encourage you to set aside more money now. And if you’re close to retirement, it can be reassuring to know your investment could double in the next 7-10 years.

    10min

  8. 18 DE JUN.

    Ep 66 - DCP withdrawals, rollovers, and RMDs

    You have options when it comes to accessing your DCP funds. In this episode, we cover smart ways to manage your funds, including monthly payouts, rollovers, lump sums and annuities. Plus, find out about required minimum distributions, emergency access and managing beneficiaries.   Resources: Withdrawals in retirement calculator DCP Roth vs pretax calculator DCP savings calculator

    18min
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Sobre

A large part of planning for the future starts with how you approach your finances today. Explore some of the basics of financial planning, tools for managing your money and ideas for sparking conversations with friends and family. Join Retirement System employees as they tackle the stigma around money and share their personal financial journeys.

Informações

  • Criado por
    Washington State Department of Retirement Systems
  • Anos de atividade
    2022 - 2025
  • Episódios
    73
  • Classificação
    Livre
  • Copyright
    © Copyright 2022 All rights reserved.
  • Site do podcast
    Fund Your Future with DRS

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