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Early Retirement

^     All messages            53213-53228 of 53228  53197-53212 >>
53228
DazedandConfusedPerson was signed in when posted
10-24-2014
06:50 AM ET (US)
Give a read to Ric Edelman's 'The Truth About Money', and 'The Lies About Money'.
53227
Boss BasherPerson was signed in when posted
10-23-2014
01:14 PM ET (US)
/m53217 Please do yourself a favor, and find ANY OTHER way to distribute your TSP money, OTHER THAN creating an "Annuity" within TSP for yourself. Surely, the money will last....but, the monthly Stipend it provides you will be extremely PALTRY, and you lose a lot of control over your money, should your life situation change in retirement. IMO, almost ANYTHING is better than "Annuity" option, in TSP. I recommend "Monthly Payments", which you can change EVERY YEAR, once a year, during open season - to fit your needs. Just create a comfortable Mix of Stock Index funds that suits your tolerable level of risk (or not) - or, if you are Resplendent with cash, you can just "G" fund it, and take the 2.X% dividend rate, with no risk (again, not such a hot idea, but at least you retain 100% CONTROL over your money). Then, there is the "Rollover" to a private investment firm's 401K program - which is an entirely different subject. Be CAREFUL. Lots of "Experts" out there exist, solely to separate you from your money, and hitch their wagons to your pension fund, to enrich themselves, not you. There are many outright criminals in the Investment World, and they are LEGION.
53226
leebrenPerson was signed in when posted
10-23-2014
10:57 AM ET (US)
I do miss daily interactions with a few of my co-workers and especially my customers. But I keep in touch with them.
53225
HammsbonePerson was signed in when posted
10-23-2014
10:07 AM ET (US)
I have absolutely no regrets leaving that back stabbing insane asylum. It's quite sad to think of a place like that after spending so much of you're life there. I only hung around the last 10 years to get the pension. I'm glad I didn't go crazy before getting out. Well I've got to go now, I have a busy day lined up.
Edited 10-23-2014 10:20 AM
53224
RIKSNYPerson was signed in when posted
10-23-2014
10:02 AM ET (US)
That's right, it's really nobody's business but their own.
I have regrets about leaving.
There are parts of the job I miss enormously; but the parts I DON'T miss more than make up for it.
53223
HammsbonePerson was signed in when posted
10-23-2014
09:52 AM ET (US)
LMAO Just having some fun RIKSNY. You're right if they want to come in and work for 20% of their base pay at 65 years of age that's fine, and don't complain about the younger worker's, they have no choice.
Edited 10-23-2014 10:00 AM
53222
RIKSNYPerson was signed in when posted
10-23-2014
09:49 AM ET (US)
/m53221 We're all different, and what's right for you is not necessarily right for someone else; and vice versa. You can do whatever you like, and so can anybody else. It doesn't mean they are mentally ill (babies clinging to the mother? come on).
53221
HammsbonePerson was signed in when posted
10-23-2014
09:31 AM ET (US)
Some people must really really enjoy their jobs at the P.O. If you've been there for more than 41 years, you get 80% of you're base pay to retire and stay home or do want you want. They are like babies clinging to the mother P.O. to protect them from their wife at home. They slowly wither away at the P.O. complaining about the younger workers who have no choice.
53220
DazedandConfusedPerson was signed in when posted
10-23-2014
08:10 AM ET (US)
/m53211 Hammsbone, I live with a beautiful woman who is much too young for me by societies standards. If she left tomorrow I would be OK, and just move on. 30 years ago I wouldn't have been able to handle it as easy. It is funny how age changes you.
53219
Reality checkPerson was signed in when posted
10-23-2014
08:04 AM ET (US)
x-stew, Hopefully hiinthesky meant to say that he plans on annuitizing his TSP himself, by taking out monthly sums based on his assumed life expectancy, and expected ROI (return on investment) Like you said there are a ton of retirement calculators out there, including a good one on the TSP website, but my favorite "calculator" is a book called: "How to make sure your money lasts in retirement" by James Brass. Beautiful, comprehensive book, full of graphs and assumed COLA calculations.
53218
X-stewPerson was signed in when posted
10-23-2014
05:57 AM ET (US)
/m53217 How much you got in TSP? Converting TSP to an annuity is terrible to me, but there's a calculator on TSP site for that.

Taking it out at once is the worst way to do it since it's all be counted as income in that year. It'll cost you thousands in taxes unnecessarily. TSP says to figure on 20% withholding.
53217
hiintheskyPerson was signed in when posted
10-23-2014
03:49 AM ET (US)
How does one go about finding out what thier monthly annuity payment will be fron TSP or the tax/penalty for a withdrawal upon retirement?
53216
Reality checkPerson was signed in when posted
10-22-2014
10:26 PM ET (US)
/m53215 Not bad. Throw in the possibility of a another 1000 a month from your TSP account, and you have yourself a good retirement.

My goal is the 15-15-15-15 plan. What's the quad 15 plan you may ask? Very simple. At least, 1500 annuity, 1500 SS, 1500 TSP, 1500 sideline gig (something enjoyable) in retirement, to keep me young, active, and connected to social contacts and networks. The quad 15 plan are all monthly amounts, that should be easily attainable.
53215
hiintheskyPerson was signed in when posted
10-22-2014
10:03 PM ET (US)
I know some people like to compare retirement money (CSRS/FERS). Here is what I will get. Just for your info. Below is my time worked and the monthly money. I am single, CSRS retirement. Level 7, ODIS Clerk and I'm 54 years old. Starting with the first day I am eligible, which is March, 1 2015.

35 years, 9 months, 4 days.....$3146.00 per month
+ 6 months.....................$3223.00
+ 1 year.......................$3298.00
The figures are estimates and are before any taxes, insurance ect.
Edited 10-22-2014 10:04 PM
53214
RIKSNYPerson was signed in when posted
10-22-2014
09:44 PM ET (US)
/m53211 I am a firm believer that any time you say all _____ are _____, you are wrong.
53213
HammsbonePerson was signed in when posted
10-22-2014
09:39 PM ET (US)
If you enjoy you're job then by all means keep working. I had an opportunity to be a police officer when I was young but I blew it. Ended up at the P.O. when I could have had a more interesting job, and I probably would be still working. Retirement has been good though.
Edited 10-22-2014 09:41 PM
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