Page 2 of 5 FirstFirst 1234 ... LastLast
Results 13 to 24 of 58

Thread: PessOptimist's Retirement Story

  1. #13

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,429

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by Stoplight View Post
    PO,

    SWEET !!! You've contributed your observations to MY Retirement Thread, so I look forward to doing the same !!! THANKS for sharing your comments as you make your way through the maze, and decide what your direction is, long-term !!!

    Ahhhh...LOL !!! If we knew THAT, we wouldn't need stuff like TSPTalk !!!

    Best of luck !!!


    Stoplight...
    I am honored that you replied to this. I really have enjoyed reading your retirement thread.

    Story time because some how this reminds me of something that happened today. I got a call from the boss of bosses that the boss of most bosses wanted us all in his office immediately. Oh sh... now what. Turns out he was presenting a certificate to a coworker for 30 years service. A brief conversation with this kid who is FERS and he said he was hanging around for his MRA. Geez, waiting for MRA? Well I started late after my military career so I guess all is equal. I mentioned that if he hung around to 62 his annuity multiplier would be 1.1%. He replied that his wife knew about that and they were discussing it.

    Just maybe a little jealousy on my part.

    Whatever, nice gesture by the boss of most bosses. We are still waiting for the other shoe to drop. (you would understand if you worked here)

    Enjoy life!

    PO

  2.  
  3. #14

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,429

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by scaredstiff View Post
    I will be watching as it seems alot of what you are doing is what I have been looking at also as my husband and I are both getting ready to go this year.
    Scaredstiff? Only scared stiff? I am petrified! Deep breathly, the sky is brown, the grass is yellow.

    This is a BIG life event. IMHO I think the best thing has been updating the house things since we are planning to stay here until we don't.

    Everyone's situation is a little different. Best of luck in your preparations and welcome to my pre-retirement world.

    PO

  4.  
  5. #15

    Join Date
    Dec 2007
    Location
    inland Northwest
    Posts
    3,995

    Default Re: PessOptimist's Retirement Story

    About 11-12 years back, had just stepped sideways into a new position-my choice, burned out on the previous position. 2 months later the boss tells me that I need to start looking for new job within next 2 years-budget cuts coming. I was 3 years from my MRA and facing potential RIF before I got there. And I didn't have 20 years in yet-age 50+20 years service is essential in that situation, otherwise ineligible to take a VERA/VSIP if offered.

    I sweated bullets for the next 3 years-selectively jobhunting trying to maintain or increase grade-opportunities few and far between even for maintaining grade. Not to mention the housing market had gone stratospheric-tough to find a potential new position at desired grade in a location I was willing to live, able to afford to live. I cut back on the tsp and accelerated paying off my mortgage so that I could afford to stay in my house with a lower paying job in or out of .gov, in case I ended up RIFed and working a lower paying job outside.gov or offered a directed transfer to a location I couldn't afford to live. It's all about having choices on my terms, not just the agency's.

    I got 3 management-level interviews, thankfully I didn't get any of them-it wasn't my desired career move. And thankfully the budget crisis slowly faded as the 2-year mark approached, and eventually not a topic for excess sweat anymore. House paid off, hit my MRA, now I'm maxing TSP including catchup, even tho it's challenging. I have choices now, if that RIF/downsizing situation ever rolls around again before I put my papers in. We'll see. In any case, I have voluntary retirement choices I didn't have back then. That means a lot in terms of peace of mind in tough times. Probably leads to better decisions as well.
    Last edited by alevin; 02-10-2015 at 10:48 PM. Reason: typo

  6.  
  7. #16

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by PessOptimist View Post
    Scaredstiff? Only scared stiff? I am petrified!
    PO
    If you're not scared you just don't understand the situation you're in! You are making life time decisions. Many of which can't be changed once made. Best of luck to PO and all the other pre-retirees out there!

  8.  
  9. #17

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by alevin View Post
    ... all about having choices on my in. We'll see. In any case, I have voluntary retirement choices I didn't have back then. That means a lot in terms of peace of mind in tough times. Probably leads to better decisions as well.
    I know what you are talking about...10 years ago, I was in the same boat because of the constant re-org..my position was abolished twice in 3 years span and like you didn't have the MRA or the years in service...now I feel go ahead..do another reorg and offer VERA with cash ..I am out!
    Emotions should never play a role in one's investing strategy!
    No to Greed...No to Fear!
    http://share.robinhood.com/mariloc1

  10.  
  11. #18

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,429

    Default Re: PessOptimist's Retirement Story

    I may have discovered the flaw in the current take home pay v FERS annuity+SS. Never mind, the rest is a personal problem.

    PO
    Last edited by PessOptimist; 02-14-2015 at 06:54 PM. Reason: Whining, airing personal problems


  12.  
  13. #19

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,429

    Default Re: PessOptimist's Retirement Story

    I have a question about social security benefits that someone may be able to answer. I am prepared to wade through the SS.gov and IRS.gov sites and somewhere is the answer.

    First, a couple of housekeeping items about unanswered questions.

    I found that I must buy Medicare part B in order to get TriCare for life for myself. I found that I must also keep paying the TriCare Prime premiums for my SO to remain enrolled in TriCare Prime. So another additional expense for four years.

    About waiting until 701/2 to take monies out of TSP. That is still up in the air. I am not particularly religious but have done some bible study. Psalm 90:10. I am not ready for more labor and sorrow so maybe will take Janis Joplin’s advice and get it while I can.

    The question. I plan to start drawing SS at my SS full retirement age which will be after I retire (don’t get these “retire” terms confused) from Federal employment. That will be in May 2018. My SO can start receiving her SS benefits at the 62 YO rate in Feb 2018. Can we both draw our SS benefits at the same time?

    Yeah, I know about the tax thing, I will already be paying Fed income taxes on 85% of my SS benefit. So will she if we file MFJ. I think.

    TIA for any knowledge you wish to share. Good luck to any of you FERS types with 30+ years Fed service waiting for MRA. I hope your SO finds out that if you work until 62 you get 1.1% times your high three. So much for retiring! Of course those that face mandatory retirement at a young age are not included. Best of luck to you all.

    PO

  14.  
  15. #20

    Join Date
    Jan 2006
    Location
    Phoenix, AZ
    Posts
    2,867

    Default Re: PessOptimist's Retirement Story

    Hi PO. I'm in a bit different situation than you being retired CSRS. However, we contacted SS a while back and were told that both my wife and I can collect our individual SS benefits at the same time. However, in my case I have elected to defer my SS benefits until after I'm 67 because of the CSRS offset which has a rather negative impact for CSRSers. My wife receives her benefits and I am entitled to receive my benefits (subject to the CSRS offset). All I have to do is contact SS. Hope it is as simple as that for you also.

    Now, on to a more important issue. Please be very cautious when posting incendiary knowledge that the unenlightened might read. If the SO's in our world become aware that they get 1.1% times your high three if you work until 62....NO ONE gets out of the salt mines. Dangerous stuff.

    Best of luck to you as you and your SO prepare for retirement. It is beyond great.

    FS
    FogSailing
    Try to learn something about everything and everything about something.

  16.  
  17. #21

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,429

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by FogSailing View Post
    Hi PO. I'm in a bit different situation than you being retired CSRS. However, we contacted SS a while back and were told that both my wife and I can collect our individual SS benefits at the same time. However, in my case I have elected to defer my SS benefits until after I'm 67 because of the CSRS offset which has a rather negative impact for CSRSers. My wife receives her benefits and I am entitled to receive my benefits (subject to the CSRS offset). All I have to do is contact SS. Hope it is as simple as that for you also.

    Now, on to a more important issue. Please be very cautious when posting incendiary knowledge that the unenlightened might read. If the SO's in our world become aware that they get 1.1% times your high three if you work until 62....NO ONE gets out of the salt mines. Dangerous stuff.[IMG]file:///C:/Users/D/AppData/Local/Temp/msohtmlclip1/01/clip_image001.gif[/IMG][IMG]file:///C:/Users/D/AppData/Local/Temp/msohtmlclip1/01/clip_image001.gif[/IMG]

    Best of luck to you as you and your SO prepare for retirement. It is beyond great.

    FS
    I know what you mean about that 62yo info. To me it was a nice fact to find out since I was planning to work until 65 anyway. It coincided with 20 years federal service so seemed like a reasonable place to stop. My situation is different from many of my fellow feds. I was aware of the MRA+10 and 62+5 rules but think it is going to be worth waiting for 62+20. For most, that rule is best not mentioned.

    Now about that SS question. I looked in to it and both myself and my wife can receive SS retirement payments. She receives her own payments plus enough to equal spouse benefits from my SS if it is a higher amount. Spouse benefits are computed using common fractions like 2536 and 512 of ½ of my base amount at my full retirement age.

    Bottom line is her own SS retirement at 62 is more than spouse benefits would be until she turns 65 and 1 month. Even if she waits until her full SS retirement age the difference is only $120 per month.

    The plan is I will apply at full SS retirement age. SO will apply whenever she decides after turning 62. That is her money and does not figure in to my retirement calculations.

    Now a question about the actual nuts and bolts. I know that my first payment will be the fourth Wednesday of the month following the month I first start receiving benefits. What seems uncertain is what month that is. If I apply in May will I receive the payment in June or July?

    PO

  18.  
  19. #22

    Join Date
    Jan 2006
    Location
    Phoenix, AZ
    Posts
    2,867

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by PessOptimist View Post
    I know what you mean about that 62yo info. To me it was a nice fact to find out since I was planning to work until 65 anyway. It coincided with 20 years federal service so seemed like a reasonable place to stop. My situation is different from many of my fellow feds. I was aware of the MRA+10 and 62+5 rules but think it is going to be worth waiting for 62+20. For most, that rule is best not mentioned.

    Now about that SS question. I looked in to it and both myself and my wife can receive SS retirement payments. She receives her own payments plus enough to equal spouse benefits from my SS if it is a higher amount. Spouse benefits are computed using common fractions like 2536 and 512 of ½ of my base amount at my full retirement age.

    Bottom line is her own SS retirement at 62 is more than spouse benefits would be until she turns 65 and 1 month. Even if she waits until her full SS retirement age the difference is only $120 per month.

    The plan is I will apply at full SS retirement age. SO will apply whenever she decides after turning 62. That is her money and does not figure in to my retirement calculations.

    Now a question about the actual nuts and bolts. I know that my first payment will be the fourth Wednesday of the month following the month I first start receiving benefits. What seems uncertain is what month that is. If I apply in May will I receive the payment in June or July?

    PO
    PO I knew you were going to ask me a question that would trip me up. Now I have to confess to the dreaded "brain fade" that occurs about this time in our lives. Where is that Focus Factor?


    Attachment 33903

    If my memory serves me correct, also known as having a Brain Fart.......

    Attachment 33904

    ....My wife became eligible to collect her benefit in December 2012. However I don't think she received her first check until February 2013. When it came it also included the January benefit. It's been a while but I believe that's how it worked. We had no problems with SS. They have done a fine job from our perspective. I will say that once in a while we've talked to someone that wasn't as well qualified as many in that agency are. When that happens we just find a nice way to defer and call back in a day or two. Our experience is that most of the SS employees are competent people.

    Best of luck to you. Hang in there. I read your other post and definitely agree that there are way too many egos in the service these days (military, career, or political...almost doesn't matter). But at the end of the day I always go home to my wonderful family and good friends and remember that is why I did work and that they are really the most important thing. All the best.

    FS
    FogSailing
    Try to learn something about everything and everything about something.

  20.  
  21. #23

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,429

    Default Re: PessOptimist's Retirement Story

    Thanks for the reply FS and thanks for two more images to include in my collection.

    There is only one person in the household and I have no idea how many external to the household that are concerned about which month the payment arrives. I believe it will arrive and be the proper amount for payments owed and I also believe that no one will want for things during those months.

    I was going to end this with an agreement of your reminder of where you went at the end of the day and who you did it for. While writing this I was told that the air filtration needs attention because the air stinks and the fire extinguishers need replacing right now. A stark reminder of my place here. Sitting on the patio typing in to a computer is not a productive activity. I was asked if I could take tomorrow off. No reason offered. I replied no and the conversation ended.

    Deep breathly, the grass is brown, the sky is green. There is very little doubt the universe is unfolding as intended. Carry on with the retirement plans and make arrangements for life after 12/31/17 but only with funds you can legally prove are yours and yours only.

    Thanks again for your reply FS.

    PO

  22.  
  23. #24

    Join Date
    Jan 2006
    Location
    Phoenix, AZ
    Posts
    2,867

    Wink Re: PessOptimist's Retirement Story

    Quote Originally Posted by PessOptimist View Post
    Thanks for the reply FS and thanks for two more images to include in my collection.

    There is only one person in the household and I have no idea how many external to the household that are concerned about which month the payment arrives. I believe it will arrive and be the proper amount for payments owed and I also believe that no one will want for things during those months.

    I was going to end this with an agreement of your reminder of where you went at the end of the day and who you did it for. While writing this I was told that the air filtration needs attention because the air stinks and the fire extinguishers need replacing right now. A stark reminder of my place here. Sitting on the patio typing in to a computer is not a productive activity. I was asked if I could take tomorrow off. No reason offered. I replied no and the conversation ended.

    Deep breathly, the grass is brown, the sky is green. There is very little doubt the universe is unfolding as intended. Carry on with the retirement plans and make arrangements for life after 12/31/17 but only with funds you can legally prove are yours and yours only.

    Thanks again for your reply FS.

    PO
    I hear you PO. All SO's are tyrants....but I still love her..

    FS
    FogSailing
    Try to learn something about everything and everything about something.

  24.  
Page 2 of 5 FirstFirst 1234 ... LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
S&P 500 (C Fund)
S&P 500 INDEX,RTH (^GSPC)
DWCPF (S Fund)
Dow Jones U.S. Completion Total Stock Market Index (^DWCPF)
EFA (I Fund)
iShares MSCI EAFE Index (EFA)
AGG (F Fund)
iShares Lehman Aggregate Bond (AGG)