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Early Retirement

^     All messages            51594-51609 of 51609  51578-51593 >>
51609
Reality checkPerson was signed in when posted
04-21-2014
07:38 AM ET (US)
/m51603 If my individual office is any indication, many FERS employees wouldn't have enough in their TSP'S to last from their early 50's until the day they pass away. I hear many of them finally waking up in their mid to late 40's that their TSP'S are not adequate, and they finally start getting serious about saving.

I personally plan on NOT touching my TSP until the age of 62, in order to establish Max. buildup of TSP account. The final 10 years is when SERIOUS compounding of interest can really make a difference. At the very least I plan on working somewhere else even if I retire at MRA.
Edited 04-21-2014 07:39 AM
51608
DazedandConfusedPerson was signed in when posted
04-21-2014
06:49 AM ET (US)
/m51601 Oasis, GONGRATS!!!! You should call in sick the last 3 days, what are they going to do fire you. My last 2 weeks were SL. I was so burnt out that I couldn't stand to go in there. I only went in the last day (I didn't work) to say goodbye to the guys. Life is better out of the PO. 9 years away, and I don't miss it at all.
51607
Cali to ColoPerson was signed in when posted
04-21-2014
06:42 AM ET (US)
Leebren, previously I think you weren't positive when you would retire. Are you going before this up-coming political season? Are you working straight through (no annual)? Do you have your last working day chosen?
51606
leebrenPerson was signed in when posted
04-21-2014
05:54 AM ET (US)
/m51601 Congratulations, and I can relate to your feeling quite well. I used to love my job too, now I dread going in there. I received my blue packet in the mail Saturday. Just a few months more for me. Best wishes to you in your retirement.
51605
Boss BasherPerson was signed in when posted
04-21-2014
12:26 AM ET (US)
/m51602 They COULD always go way out in the woods, and live like the Unabomber. Some "Golden Years" THAT would be, eh?
51604
Cali to ColoPerson was signed in when posted
04-20-2014
10:02 PM ET (US)
Reality, I could have afforded to go in 2009 at 50 because my husband's income was enough. But he hated his job at the time and I didn't want to add pressure. So, a well-off spouse helps. But if I was single, I don't think I could have rented a room and paid bills with the money I would have received from FERS. Maybe.
51603
egarkPerson was signed in when posted
04-20-2014
09:45 PM ET (US)
Reality check /m51602 - even if they took their TSP?
51602
Reality checkPerson was signed in when posted
04-20-2014
09:39 PM ET (US)
/m51599 Don't know how a FERS employee who takes an "early out" in their early 50's could possibly survive on just the annuity portion of their FERS retirement! Only way I could see making that work, is if the FERS retiree had some lucrative full time gig to go to, until their late 50's or longer.
51601
oasis856Person was signed in when posted
04-20-2014
09:12 PM ET (US)
Wow
Three more days and it's over.
40 years and 25 days.
No more, no party i just want out.

I Loved my Mailman job at one time,
The love has faded or turned to hate.
Papers in and management is mad - they have not received an email.

Peace and hopes for a buyout ,i gotta go.
51600
givinuphopePerson was signed in when posted
04-20-2014
07:46 AM ET (US)
what are guys thinking there will be no early out unless you consider forced ot and harassment there way of an early out no Saturdays would be are only chance Happy Easter
51599
Boss BasherPerson was signed in when posted
04-20-2014
02:08 AM ET (US)
/m51596 Just that one aspect of it alone: That, under FERS, an Early-Outed Employee would not receive ANY COLAS for 12 whole years, if they EO'd at age 50, and had NO COLAS until age 62. That's losing a LOT of ground. The COLAS since I retired were the usual Anemic COLAs - 1.6%, etc., and a few years with NO COLA at ALL (I'm under CSRS), but still a far sight better than NO COLAS for 12 years.
51598
Bluestar ratedPerson was signed in when posted
04-19-2014
05:13 PM ET (US)
Really no need to address any possiple VER/VSIP offer as the PMG has made it clear that there will NOT be one. My first VER offer during 2008 would have given me a annuity of around $23,000 after the reduction under CSRS at age 48. Six years later my annuity next summer at age 55 projects at $37,000 with 36+ years. Increase in TSP is silly by foregoing the offer to leave and with market gains and additional payroll contributions. Declining the multiple offers since 2008 was the correct move from a financial perspective but hey.......it's only money.
Edited 04-19-2014 06:01 PM
51597
Merlin58Person was signed in when posted
04-19-2014
04:21 PM ET (US)
/me 51596. You are correct. There is no penalty for FERS employees under the Early Out.

I took the one last Jan and it was the best decision of my life. So many of my coworkers kept chasing the dollar and never made it to retirement. Many that did not take the offer truly regret it now. I don't worry about what Civil Service employees get. I feel blessed to have what I have and the time now spent for family, friends , hobbies and home projects is priceless. So glad I took the offer.
Edited 04-19-2014 04:26 PM
51596
Reality checkPerson was signed in when posted
04-19-2014
01:24 PM ET (US)
/m51594 Under an early out authority, FERS employees dont get penalized, as long as they qualify under the age reqiurement which is 50, or have at least 25 years of service regardless of age. However they have to wait until the age of 56 to get supplement, and like we mentioned, no cola until age 62.
51595
DazedandConfusedPerson was signed in when posted
04-19-2014
11:59 AM ET (US)
/m51593 as BB said the cost is next to nothing, and I get the magazine and a local newsletter that keeps me up on friends. I worked in Michigan, Florida and Oklahoma.
51594
Boss BasherPerson was signed in when posted
04-19-2014
11:20 AM ET (US)
/m51592 Everyone take Heed, re: Things to consider, before taking an Early Out offer (no matter the terms...Incentive or no, etc.). ESPECIALLY for FERS people. Both CSRS AND FERS take a shellacking on an Early Out - but, the FERS have it so much worse. Not only is their Annuity getting its ears sliced off with the Penalty, but the absence of COLA is - we should say - really "Doubles-Down" a FERS employees' consequence for taking an ER. All told, it should not be an "Easy" or "Snap" decision.

/1593 My retirement DUES to NALC are $2.50 per month. Less than the cost of a Big Mac (ugh - I don't do McD's anyway)
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