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Early Retirement

^     All messages            52650-52665 of 52665  52634-52649 >>
52665
Boss BasherPerson was signed in when posted
09-02-2014
12:10 AM ET (US)
/m52649 Actually, I don't perceive that we really had a "Fight" - though certainly went off-topic. I enjoy it, when everyone puts up their opinions for discussion - as long as we can all remain halfway Civil. It's all good. Besides, is there REALLY any "News" to report, about Early Outs? We're just marking time here lol.

AND - a Happy Labor Day to you all. I had a helluva nice day. Better weather there never was, we went out of town on a bit of a Day Trip, and just got home. Late, tired, but in a good way. Enjoy, everyone! Summer's almost gone, and I'm already wishing it was back.
52664
X-stewPerson was signed in when posted
09-01-2014
07:37 PM ET (US)
/m52652 Revenues are what you want to compare to what's spent. Tax revenues were reduced after RR, and no today dares say they need to be raised if you want to balance the budget. I'd like to see 10% real cuts in the big 3 budget items for a start, then talk taxes. Pipe dream I know.

I'm more worried about what could happen to us than the debt. Fought too damn long and hard to get what we have to see it all pissed away so some pols can make their friends richer. Vote for the good of the the country always. But don't forget, we're part of it, and PO costs the country zero.

Celebrated the day by watching Blue Collar and Norma Rae.
52663
givinuphopePerson was signed in when posted
09-01-2014
06:47 PM ET (US)
Hi all been on vacation any early out talk or do I have to stick out 23more months
52662
Hanging ToughPerson was signed in when posted
09-01-2014
05:31 PM ET (US)
/m52657 Actually I feel confident that she did answer the question. I'll be ready to go whether I can touch my tsp or not. That's just icing on the cake. Now, I've just got to buckle up and ride out this last 13 months.
52661
RIKSNYPerson was signed in when posted
09-01-2014
03:13 PM ET (US)
The additional 10% tax generally does not
apply to payments that are:

Paid after you separate from service during or after the year you reach age 55;

Annuity payments;

Automatic enrollment refunds;

Made as a result of total and permanent disability;

Made because of death;

Made from a
beneficiary participant account;

Made in a year you have deductible medical expenses that exceed 10% of your adjusted gross
income (7.5% if you or your spouse is 65 or over);

Ordered by a domestic relations court;
or

Paid as substantially equal payments over your life expectancy.

And that's why all the "generally" and "very limited" and "most" and so forth.
52660
RIKSNYPerson was signed in when posted
09-01-2014
03:04 PM ET (US)
For detailed information about the tax rules that apply to withdrawals taken after leaving Federal service, you should read the TSP tax notice "Important Tax Information About Payments From Your TSP Account" and consult with your tax advisor.

"Important Tax Information.." etc. is an EIGHT PAGE .pdf file. https://www.tsp.gov/PDF/formspubs/tsp-536.pdf
52659
Reality checkPerson was signed in when posted
09-01-2014
02:53 PM ET (US)
"The 59 statement affects VERY VERY few employees". Sound like all you have to do is do your own research to find out if your part of the VERY VERY few employees the 59 statement affects. Or even better wait until age 59, and you will get the additional benefit of several years of compounding interest on your TSP, and the guarantee that no penalty will be applied!
52658
RIKSNYPerson was signed in when posted
09-01-2014
02:14 PM ET (US)
/m52657 That is the trouble with all these rules. There is a rule for everything, and every rule has 5 exceptions. There is a minimum retirement age, but it is different depending on the year you were born. Are you CSRS or FERS? Or CSRS? Or FERS with a CSRS component? Are you retiring on a regular retirement, or a VERA? etc, etc, etc. I would hate to try to answer people's questions with the limited information they give us to begin with.
52657
82% RetiredPerson was signed in when posted
09-01-2014
02:10 PM ET (US)
/m52653 So HT she really did not answer your question dis she? Using qualifiers like "generally",and "very limited" leave one to wonder if they fit into the category or not. Since she did not explain what "generally" and "very limited" means you still do not know.
52656
leebrenPerson was signed in when posted
09-01-2014
12:18 PM ET (US)
Thank you Will. I do enjoy your contributions here. Happy Labor Day and Thank you for your service to our country.
52655
Will MunnyPerson was signed in when posted
09-01-2014
11:19 AM ET (US)
/m52651: I am feeling lighter. Wasn't really my intent to attack you personally. In my crude way I meant that thinking one pol or the other will set you free is pointless. Woodrow Wilson, FDR, Churchill all made clear statements about much more powerful sources running things. Sorry.
52654
Reality checkPerson was signed in when posted
09-01-2014
10:52 AM ET (US)
/m52653 Nice to get an answer you can rely on isn't it? That answer could be bad/good news, depending on your life's circumstances. Waiting until age 60 or over to touch your TSP gives you several years of more compounding, and more certainty that your money won't run out. Running these numbers correctly is extremely important, before touching that TSP to early. Good luck!
52653
Hanging ToughPerson was signed in when posted
09-01-2014
10:22 AM ET (US)
I got some good news. A few people I talked to about retirement (fers) said that I could not touch my tsp without a penalty until I turn 59 1/2. I'll be 56 when I retire (in 13 months), so I sent an e-mail to Roseanne Jefferson, and she responded...

Question:

"Hi Roseanne,
Can you clear something up for me? Under fers. If I retire at age 56 with 30 years of usps service, can I begin withdrawing monthly from my tsp without penalty? or do I have to wait until I am 59 1/2 years old to do so? I've been told different things by different people."

Answer:
YESSSSSS!! You can collect your TSP when you retire. The issue of 59 1/2 generally will not apply. There will be no penalty, except under "very limited" conditions, & generally that (59) statement affects very very few employees/annuitants. Roseanne"
Edited 09-01-2014 05:25 PM
52652
82% RetiredPerson was signed in when posted
09-01-2014
09:45 AM ET (US)
Stew for the purpose of this discussion a debt chart would be meaningless unless you matched it to tax chart. You would be able to see why Congress under Clinton was able to reduce the deficit and still spend more money. Congress under Clinton did not spend less they had more money to spend. Except after WWII show me where Congress has spent less money.
52651
leebrenPerson was signed in when posted
09-01-2014
09:09 AM ET (US)
/m52642 Lighten up Will, I stated my opinion that W was a disaster for this country, and that IS my opinion. I did not measure him against any other administration or make comparisons. We have had and will continue to have some lousy leaders in this country and hopefully some good ones too, however with the state of politics in this country now, I have become a bit cynical. I'm sorry you did not agree with my opinion and I respect that however, I will not call you a dumb ass for stating yours.
52650
Carry OnPerson was signed in when posted
08-31-2014
11:19 PM ET (US)
/m52649 It does seem disconnected from the subject, but I am 1 year and 4 months from reaching the MRA.
I would like to go but I would like to see some kind of stability in both our government and economy first. I see neither, so I think the prudent thing to do is to stay.
I doubt that I am the only one posting here that feels that way.

Edit: And I could care less if the next President is a Dem, Rep or Indy.
I want A LEADER.
Another RR or JFK or IKE.
And I love my country. Ex Marine.
We can do anything because we're Americans.
I don't see leadership from the Executive Branch or the Legislative Branch.
That makes me sad.
Edited 08-31-2014 11:28 PM
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