Jump to content
Sign in to follow this  
backwardsk

Retirement

Recommended Posts

On 5/11/2020 at 3:46 PM, DrungoHazewood said:

I consider myself pretty lucky. I've been working for the government for 24 years, and I had the luck or discipline or whatever to put 10% into my 401k from the day I was eligible.  Never touched it.  So I have a fair amount in there, although I purposely haven't looked at it in the last few months.  I probably have about 15 years to retirement, so I figure I'll be okay unless the stock market does historically badly for a very long time.

But even then I'll have my FERS pension and social security.  So for me to have real financial problems in retirement the United States government will have to collapse.  In which case, my family has a small farm in rural Virginia, so I can probably eke out a subsistence existence there.

Just don’t get divorced. I did and it was like starting with less than zero.  

Share this post


Link to post
Share on other sites
On 5/11/2020 at 3:46 PM, DrungoHazewood said:

I consider myself pretty lucky. I've been working for the government for 24 years, and I had the luck or discipline or whatever to put 10% into my 401k from the day I was eligible.  Never touched it.  So I have a fair amount in there, although I purposely haven't looked at it in the last few months.  I probably have about 15 years to retirement, so I figure I'll be okay unless the stock market does historically badly for a very long time.

But even then I'll have my FERS pension and social security.  So for me to have real financial problems in retirement the United States government will have to collapse.  In which case, my family has a small farm in rural Virginia, so I can probably eke out a subsistence existence there.

FERS?  You must be a young pup! LOL

I was CSRS for 23 years, before I left and went into the contractor field, doing the same basic job with a healthy pay raise, better pension and 401K plan.

A couple of years, and I will take CSRS, Pension and Social Security!

 

Share this post


Link to post
Share on other sites
15 hours ago, Redskins Rick said:

FERS?  You must be a young pup! LOL

I was CSRS for 23 years, before I left and went into the contractor field, doing the same basic job with a healthy pay raise, better pension and 401K plan.

A couple of years, and I will take CSRS, Pension and Social Security!

 

When did they phase out CSRS?  442 BC?  I'm almost 50 and I missed it by over a decade.

Share this post


Link to post
Share on other sites
1 hour ago, DrungoHazewood said:

When did they phase out CSRS?  442 BC?  I'm almost 50 and I missed it by over a decade.

Make me feel old, rub it in. TSP started in 1986, according to Mr. Google. 

I wasnt close to TSP eligibility, either.

 

Share this post


Link to post
Share on other sites
43 minutes ago, Redskins Rick said:

Make me feel old, rub it in. TSP started in 1986, according to Mr. Google. 

I wasnt close to TSP eligibility, either.

 

My Dad is CSRS. He retired at 58 as a GS-15, and now for 16 years he's gotten $120k a year. But he doesn't get Social Security and he never had TSP.  So that's his entire retirement. 

I certainly won't be retiring at 58, but if the stock market stays anything close to historical rates of return I'll do as well on the new system even after inflation. I tell all of my young engineers that the only thing they need to do for retirement is put 10% in TSP from day one and never touch it.

Share this post


Link to post
Share on other sites
6 minutes ago, DrungoHazewood said:

My Dad is CSRS. He retired at 58 as a GS-15, and now for 16 years he's gotten $120k a year. But he doesn't get Social Security and he never had TSP.  So that's his entire retirement. 

I certainly won't be retiring at 58, but if the stock market stays anything close to historical rates of return I'll do as well on the new system even after inflation. I tell all of my young engineers that the only thing they need to do for retirement is put 10% in TSP from day one and never touch it.

Sounds very similar, Dad stuck around and went out at 79.5 of his salary almost 18 years ago, and with cost of living pay raises is making more than he did when he was working. Not a 120K, but he has no bills and plenty of money in the bank.

Myself, going into the contractor world, I paid into another pension plan and SSN, having worked part time over the year while in the government, I already had enough quarters, but these past 19 years have padded my SSN into a decent check, along with the other 2 checks, we should be good to go.

 

Share this post


Link to post
Share on other sites
On 5/17/2020 at 10:15 PM, atomic said:

Just don’t get divorced. I did and it was like starting with less than zero.  

I'm a FIRM advocate for divorce! You may have been hurt monetarily but YOU'RE FREE from a bad situation. One of the happiest (and saddest) days of my life was the day my divorce went thru. The happiness FAR outweighed the sad.

Share this post


Link to post
Share on other sites
1 hour ago, scOtt said:

I'm a FIRM advocate for divorce! You may have been hurt monetarily but YOU'RE FREE from a bad situation. One of the happiest (and saddest) days of my life was the day my divorce went thru. The happiness FAR outweighed the sad.

And if you do divorce, you dont go out and repeat your mistakes. :) :) :) :)

 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

Orioles Information


Orioles News and Information

Daily Organizational Boxscores
News

Tony's Takes

Orioles Roster Resource

Orioles Prospect Information

2018 End of Season Top 30 Prospects List

Prospect Scouting Reports

Statistics

2019 Orioles Stats

2019 Orioles Minor League Stats

Baseball Savant Stats






×
×
  • Create New...