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Best Grumpus Maximus Interviews on Podcasts or Audio about Grumpus

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316 | Is Your Pension Healthy? | Grumpus Maximus Back in another installment of ChooseFI’s Households of FI series are Troy and Lindsay. In episode 241, Brad helped them calculate their FI number, but Lindsay is a teacher with the potential to earn a pension. In this episode, they touch base with Grumpus Maximus to discuss the health of their pension. While the conversation is geared toward the health of the Virginia Retirement system, others who are eligible for pensions will learn where to access data about their own pensions and interpret it to assess its health. Linsday is 32 and in her seventh year of teaching under the Virginia Retirement System. Troy is 34 and an IT professional working on government contracts and does not have access to a pension. Troy and Linsday have a young son. Grumpus Maximus is a retired military officer who lives in New Zealand with his wife and two kids. Grumpus experienced a post-traumatic breakdown around year 16 of his military career that had him calculating whether or not it was worth staying in the military for the additional years required to earn his pension. Many defined benefit plans these days have different levels because they are so expensive. The Virginia Retirement System (VRS) has 3 options, 1, 2, and a hybrid plan. Linsday is on option 2. Both COVID and having their son have had Troy and Lindsay thinking about the future of their careers. The possibility of working from home or retiring early were things they began to consider, but the VRS’s calculators would allow Lindsay to play with numbers to look at retirement before the age of 58. After some investigation, Grumpus found that 30 years is the standard full vestment period, but partial vesting is reached at just five years, although it wouldn’t pay out until also reaching the minimum retirement age. Option 2 appears to be tied to the social security retirement age, so taking it earlier likely results in a reduced benefit. Lindsay wants to understand how to calculate what her pension would be. Grumpus says there is a way to calculate it but warns that doing it this far in advance will require a lot of assumptions. The retirement budget Troy and Lindsay are shooting for is around $4,000 per month. They can go online to calculate the pension amount and then see how big the gap is. The smaller the gap is, the more valuable the pension is. Lindsay’s pension has a COLA which hopefully negates inflation and makes her pension more valuable and allows her pension’s purchasing power to remain the same. The VRS pension also does not replace social security, so she will have social security income coming in as well. Her pension also has other earned pension benefits (OEPB), like life insurance, health insurance, and the option of survivorship. The Grumpmatic method of calculating a pension’s worth includes a pros and cons list, which includes pension benefits, but also personal issues. It takes into account the non-mathematical considerations, such as happiness, job satisfaction, and potential changes to the pension system. He encourages everyone to write the list down on paper to create a physical record of why the decision is being made because it shouldn’t be purely a numbers-based decision. When asked about how Grumpus and his wife came to the decision that they did, he said several factors played into the decision. It was a transition for his wife to go from career to full-time parent wasn’t easy. They even had marriage counseling. Troy had trouble even finding information on Lindsay’s pension. Grumpus says because he’s been looking t pensions for so long, he knows what to look for. In addition, Boston College runs The Center for Retirement Research and has a public plan database with most of the major state and city plans in it. With Public Plan Database, you can get an overall view of what the pension plan looks like. It also compares the plans to national averages which can give you an idea of the overall health of your plan. Virginia’s plan is not fully funded for all current and future obligations, which is pretty much average. Very few public plans are fully funded. An accounting change in the late 90s also changed many pensions from 100% funded to underfunded and then the market crash from the .com bubble didn’t help. Most plans have steadied since then at around 75%. The American Academy of Accuraties came out with a paper stating that there is a myth claiming anything funded at 80% is well off and won’t have issues in the future. It’s better to look at the trend lines for the last five years. If they have been going down, there is cause for concern. Grumpus warns that all the funding spent on COVID this year may impact pension funding. If states skip paying into plans, it will need to be rolled into future payments. That is shown in the database as ARC paym
150. Should I Stay or Should I Go? w/ Grumpus Maximus Grumpus Maximus answers one of the most difficult questions:  should I stay or should I go when it comes to waiting for a pension.  Plus a short segment with Vazul Hites on looking for a job post college graduation in a time of COVID.
38. Military Path to Fi - Boon or Bane? w/ Military Dollar, Grumpus Maximus, and David Pere Today we discuss how the military path is different than the traditional financial independence journey. Guest for today's show are: Dave Pere From Military to Millionaire Military Dollar Grumpus Maximus
936: [Part 1] You Can Teach An Old Dog New Tricks by Grumpus Maximus on How To Deal with Money in Marriage Grumpus Maximus shares his thoughts on teaching an old dog new tricks. This is part 1 of 2.
Episode 936: [Part 1] You Can Teach An Old Dog New Tricks by Grumpus Maximus on How To Deal with Money in Marriage
Grumpus Maximus is a 40 something US military officer with 19 years of active duty service under my belt. He's spent over four years of that career either deployed or stationed in the Middle East, and another three years stationed in Europe. As he travels to his family's mostly unintentional path to FI, he wants to share his knowledge. Anyone who is eligible for a defined benefit pension could easily implement their own goal to achieve FI. Grumpus Maximus' path is not only replicable, but easily built and improved upon.
The original post is located here: https://grumpusmaximus.com/you-can-teach-an-old-dog-new-tricks/
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1218: Worth vs. Worth It: Stretching Out The Family Van by Chris Pascale with Grumpus Maximus on Auto Finance Decisions Chris Pascale with Grumpus Maximus shares his thoughts on worth vs. worth it.
Episode 1218: Worth vs. Worth It: Stretching Out The Family Van by Chris Pascale with Grumpus Maximus on Auto Finance Decisions
Grumpus Maximus is a 40 something US military officer with 19 years of active duty service under my belt. He's spent over four years of that career either deployed or stationed in the Middle East, and another three years stationed in Europe. As he travels to his family's mostly unintentional path to FI, he wants to share his knowledge. Anyone who is eligible for a defined benefit pension could easily implement their own goal to achieve FI. Grumpus Maximus' path is not only replicable, but easily built and improved upon.
The original post is located here: https://grumpusmaximus.com/worth-it-stretching-out-family-van/
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887: Financial Planning (Part 1): Time and Planning by Grumpus Maximus on Financial Independence Plans Grumpus Maximus shares his thoughts on financial planning.
Episode 887: Financial Planning (Part 1): Time and Planning by Grumpus Maximus on Financial Independence Plans
Grumpus Maximus is a 40 something US military officer with 19 years of active duty service under my belt. He's spent over four years of that career either deployed or stationed in the Middle East, and another three years stationed in Europe. As he travels to his family's mostly unintentional path to FI, he wants to share his knowledge. Anyone who is eligible for a defined benefit pension could easily implement their own goal to achieve FI. Grumpus Maximus' path is not only replicable, but easily built and improved upon.
The original post is located here: https://grumpusmaximus.com/financial-planning-part-1-time-and-planning/
Please Rate &amp; Review the Show!
Visit Me Online at OLDPodcast.com &amp; in The O.L.D. Podcasts Facebook Group!
and Join the Ol' Family to get your Free Gifts

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908: The Reluctant Financial Voyeur by Grumpus Maximus on Frugality & Building Wealth for Early Retirement Grumpus Maximus on the reluctant financial voyeur. &nbsp;&nbsp;
Episode 908: The Reluctant Financial Voyeur by Grumpus Maximus on Frugality &amp; Building Wealth for Early Retirement &nbsp;&nbsp;
Grumpus Maximus is a 40 something US military officer with 19 years of active duty service under my belt. He's spent over four years of that career either deployed or stationed in the Middle East, and another three years stationed in Europe. As he travels to his family's mostly unintentional path to FI, he wants to share his knowledge. Anyone who is eligible for a defined benefit pension could easily implement their own goal to achieve FI. Grumpus Maximus' path is not only replicable, but easily built and improved upon. &nbsp;&nbsp;
The original post is located here: https://grumpusmaximus.com/reluctant-voyeur-foreclosure/ &nbsp;&nbsp;&nbsp;
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Visit Me Online at OLDPodcast.com &amp; in The O.L.D. Podcasts Facebook Group!
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You get THREE MONTHS FREE when you sign up for a year, but you have to go to MightyNetworks.com/OFD

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937: [Part 2] You Can Teach An Old Dog New Tricks by Grumpus Maximus on Husband and Wife & Financial Goals Grumpus Maximus shares his thoughts on teaching an old dog new tricks. This is part 2 of 2.
Episode 937: [Part 2] You Can Teach An Old Dog New Tricks by Grumpus Maximus on Husband and Wife &amp; Financial Goals
Grumpus Maximus is a 40 something US military officer with 19 years of active duty service under my belt. He's spent over four years of that career either deployed or stationed in the Middle East, and another three years stationed in Europe. As he travels to his family's mostly unintentional path to FI, he wants to share his knowledge. Anyone who is eligible for a defined benefit pension could easily implement their own goal to achieve FI. Grumpus Maximus' path is not only replicable, but easily built and improved upon.
The original post is located here: https://grumpusmaximus.com/you-can-teach-an-old-dog-new-tricks/
Please Rate &amp; Review the Show!
Visit Me Online at OLDPodcast.com &amp; in The O.L.D. Podcasts Facebook Group!
and Join the Ol' Family to get your Free Gifts
Access an exclusive listener discount and join the thousands of investors beating the market at www.fool.com/optimalfinancedaily

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993: Thankfulness and Bounty by Grumpus Maximus on How to Be Thankful & Have Gratitude on Thanksgiving Grumpus Maximus shares his thoughts on thankfulness and bounty.
Episode 993: Thankfulness and Bounty by Grumpus Maximus on How to Be Thankful &amp; Have Gratitude on Thanksgiving
Grumpus Maximus is a 40 something US military officer with 19 years of active duty service under my belt. He's spent over four years of that career either deployed or stationed in the Middle East, and another three years stationed in Europe. As he travels to his family's mostly unintentional path to FI, he wants to share his knowledge. Anyone who is eligible for a defined benefit pension could easily implement their own goal to achieve FI. Grumpus Maximus' path is not only replicable, but easily built and improved upon.
The original post is located here: https://grumpusmaximus.com/thankfulness-and-bounty/
Please Rate &amp; Review the Show!
Visit Me Online at OLDPodcast.com &amp; in The O.L.D. Podcasts Facebook Group!
and Join the Ol' Family to get your Free Gifts
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