I just downloaded Mr. Jamison's guide and I look forward to reading it and applying it over the next 15 months.
Frank
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Emotions should never play a role in one's investing strategy!
No to Greed...No to Fear!
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Emotions should never play a role in one's investing strategy!
No to Greed...No to Fear!
http://share.robinhood.com/mariloc1
Federal LEO. None of my comments pertain to state retirement provisions.
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Emotions should never play a role in one's investing strategy!
No to Greed...No to Fear!
http://share.robinhood.com/mariloc1
Correction to the statement above. It's the other way around. You get supplemental income (SI) even if you don' have thirty (30) years of service, but you don't get SI if you haven't attained your minimum retirement age yet.
Of course, different rules apply to special interest group, e.g.LEO, ATC, and fire fighters to name a few.
The caveat of retiring without 30 years is you get less $FERS annuity - a diff of almost $300-$$500 depending on your salary bracket.
Emotions should never play a role in one's investing strategy!
No to Greed...No to Fear!
http://share.robinhood.com/mariloc1
Any comments to the statement below? I am confused. I thought if you hold off collecting your SS benefits, you will be reap more $$. Reggie Jones says otherwise.
"BY REG JONES ON JANUARY 23, 2015 EARLY RETIREMENT
Q. I am a 62-year-old FERS employee. Can I retire with my FERS annuity and TSP and wait until my full retirement age of 66. I do not plan to work after I leave.
A. Yes, you can wait until your full retirement age, however, your Social Security benefit will be based on the amount you were entitled to when you retired."
Emotions should never play a role in one's investing strategy!
No to Greed...No to Fear!
http://share.robinhood.com/mariloc1
Reg Jones is usually right on, so I thought you might have taken what he said out of context. So I looked up the quote at Retirement age but there was no additional info. The question and answer are just as you presented.
So I'm not sure exactly what he meant, but here is my take. SS is based on your highest 35 years of income. If you retire on your pension and TSP only, and put off taking your SS till your FRA, the 'basis' will still be on the same highest 35 yrs (since the 62 yr old said they would not work between 62 and FRA). However, you will not be docked 27% for taking SS at 62. You will get the full retirement amt, but still based on the same highest 35 yrs. So yes, you would get 27% more (or whatever the actual deduction it would have been), but it will still have the same 'high 35 basis'. Other than that, you will just have to ask Reg for clarification!
There are 10 types of people in the world. Those who know binary, and those that don't!!
Retired on December 31, 2018!!
What uscfanhawaii said plus my $0.02.
I believe this statement about ss benefits to be incorrect. This page along with the links on the page will tell you the SSA rules.
Retirement Planner: Benefits By Year Of Birth
This may help: http://www.socialsecurity.gov/pubs/EN-05-10070-1952.pdf
What Mr. Jones may mean is that if you earn no more income, the amount you receive at full retirement will not be more than it would have been if you had been full retirement age when you retired? Retired from where? You are not retired ss wise until you apply for benefits even if you did retire from somewhere else?
Who is Reggie Jones? So many questions but this is why I try to research stuff myself using publications from the applicable agency instead of listening to experts.
Good luck in your quest for the truth. It is not often easy to find.
PO
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