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Thread: nasa1974's retirement story

  1. #229

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    Default Re: nasa1974's retirement story

    Quote Originally Posted by Scout333 View Post
    That's why I will be getting up to date numbers, currently I have 2011 data. I didn't get a SS statement in 2012 and if one comes this year it will be sometime in March.

    You can get up to date statements for both spouses on the SSA.gov website. My Social Security. Sign up for a personal account. Don't have to wait for paper statements.
    Thanks Scout,

    I figured I could, it just wasn't high on the priority list. Now it is in my top 5 of things I need to get done before summer ends. Thanks again.
    May the force be with us.

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  3. #230

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    Default Re: nasa1974's retirement story

    Hey NASA, let the good times roll. No matter what you get from SSA numbers-wise, it will take ten years at FULL retirement before you show any 'profit' from not taking it at 62. That is, ten years full benefits equals 14 or 15 years reduced benefits, canyadigit. I took mine at 62. Why wait -- I should live so long. BTW, your spouse has the same choice, she can wait or not, no matter which way you decide.

    For my part, I can support my wide and I on my pension and SS no problem. Now all I need are grandkids to spoil but the news is looking up, there are wedding bells in the air.

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  5. #231

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    Default Re: nasa1974's retirement story

    Quote Originally Posted by jimijr View Post
    Hey NASA, let the good times roll. No matter what you get from SSA numbers-wise, it will take ten years at FULL retirement before you show any 'profit' from not taking it at 62. That is, ten years full benefits equals 14 or 15 years reduced benefits, canyadigit. I took mine at 62. Why wait -- I should live so long. BTW, your spouse has the same choice, she can wait or not, no matter which way you decide.

    For my part, I can support my wide and I on my pension and SS no problem. Now all I need are grandkids to spoil but the news is looking up, there are wedding bells in the air.
    Thanks jimijr,

    I plan to look into it this year and weigh my options. I turn 62 this year and the wife turns 62 next year.
    May the force be with us.

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  7. #232

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    Default Re: nasa1974's retirement story

    Quote Originally Posted by nasa1974 View Post
    Thanks jimijr,

    I plan to look into it this year and weigh my options. I turn 62 this year and the wife turns 62 next year.
    Me too maybe we're twins. September 22
    Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.

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  9. #233

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    Default Re: nasa1974's retirement story

    Quote Originally Posted by Bquat View Post
    Me too maybe we're twins. September 22
    I'm the older twin brother, May 26th.
    May the force be with us.

  10.  
  11. #234

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    Default Re: nasa1974's retirement story

    This a pretty good article.

    logo_GE_272x136_wspce.gif
    Government News, Research and Events for Federal Employees - GovExec.com


    Take Charge of Your Retirement A look at your responsibilities in the retirement process, along with those of your agency and the Office of ... May 8 7 Comments
    May the force be with us.


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  13. #235

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    Default Re: nasa1974's retirement story

    Well things have been moving along nicely since I retired two years ago. Hard to believe it's been two years. But starting Monday I'm coming out of retirement and going back to work full time. A friend of mine called a few weeks ago and said that the company he works for (at NASA) was looking for a construction inspector and my electrical background was a fit, would I be interested. I told him I would get back to him after the wife and I discussed it. I got back to him and said I was interested so they set up an interview. At the interview I found out that the sub-contractor (who my friend works for) and the prime-contractor both wanted me and they would let me know which one I would be working for. The prime offered me a construction manager's position and the offer sheet looked pretty good so I said yes. Kind of ironic that I started working for NASA on May 20, 1974 and now I am coming back to NASA as a contractor 40 years later on May 19, 2014. Stay tuned.
    May the force be with us.

  14.  
  15. #236

    Default Re: nasa1974's retirement story

    Quote Originally Posted by nasa1974 View Post
    Well things have been moving along nicely since I retired two years ago. Hard to believe it's been two years. But starting Monday I'm coming out of retirement and going back to work full time. A friend of mine called a few weeks ago and said that the company he works for (at NASA) was looking for a construction inspector and my electrical background was a fit, would I be interested. I told him I would get back to him after the wife and I discussed it. I got back to him and said I was interested so they set up an interview. At the interview I found out that the sub-contractor (who my friend works for) and the prime-contractor both wanted me and they would let me know which one I would be working for. The prime offered me a construction manager's position and the offer sheet looked pretty good so I said yes. Kind of ironic that I started working for NASA on May 20, 1974 and now I am coming back to NASA as a contractor 40 years later on May 19, 2014. Stay tuned.
    A note to anyone who plans on doing this sort of thing. If you are retired FERS getting a supplement and are over 56 your supplement will be reduced $0.50 per $1 you make over the social security threshold which is about $15,000 I think.(Windfall elimination Program or WEP) Same if you get Social Security payments I think. You may lose them.

    I may take a contractors job soon and know I will lose my ~$13,000 supplement but will make about $40,000. So I'll be woking for $27,000 not the $40,000. But, it will add to years of work for Social security and increase its payments some when I get there.

    Just be aware.
    100 G
    RSI - Relative Strength Indicator DMA - day moving average

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  17. #237

    Default Re: nasa1974's retirement story

    Quote Originally Posted by clester View Post
    A note to anyone who plans on doing this sort of thing. If you are retired FERS getting a supplement and are over 56 your supplement will be reduced $0.50 per $1 you make over the social security threshold which is about $15,000 I think.(Windfall elimination Program or WEP) Same if you get Social Security payments I think. You may lose them.

    I may take a contractors job soon and know I will lose my ~$13,000 supplement but will make about $40,000. So I'll be woking for $27,000 not the $40,000. But, it will add to years of work for Social security and increase its payments some when I get there.

    Just be aware.
    A bit of a correction. For early retirement option and special categories like ATC the supplement is exempt until you reach your MRA which is 56 for me.
    100 G
    RSI - Relative Strength Indicator DMA - day moving average

  18.  
  19. #238

    Default Re: nasa1974's retirement story

    Quote Originally Posted by clester View Post
    A bit of a correction. For early retirement option and special categories like ATC the supplement is exempt until you reach your MRA which is 56 for me.
    How to Work Yourself Right Out of the FERS Special Retirement Supplement (SRS)

    here is one article about it.
    100 G
    RSI - Relative Strength Indicator DMA - day moving average

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  21. #239

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    Default Re: nasa1974's retirement story

    Thanks clester. The good thing is I'm CSRS. This job will increase my SS which will be nice later on.
    May the force be with us.

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  23. #240

    Default Re: nasa1974's retirement story

    Quote Originally Posted by nasa1974 View Post
    Thanks clester. The good thing is I'm CSRS. This job will increase my SS which will be nice later on.
    CSRS is better in most regards.

    For me, 50% reduction until age 62 when I switch over to social security and then 50% reduction on my higher payments which is more of a pay cut. But at age 67 (full retirement age) I could keep all of it up to $40,000.

    Almost makes it not worth it to work.

    I understand the reason. They don't want double dippers. But, it causes folks to stay home too.
    100 G
    RSI - Relative Strength Indicator DMA - day moving average

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