Originally Posted by
PessOptimist
I have been thinking about starting one of these for a long time. I even asked a couple of times what the MB thought with mixed replies.
Since everyone’s situation is different and all the other posts in various places apply to many different situations I will start my own thread as other’s have. Nothing against all of you planning MRA+however many years or those in special pay status. Go for it!
I am 62 years old. I have 17.67 years FERS service. I plan on retiring on 12/31/17. At that time I will have 20 years, 6 months and 23 days FERS service. I will be 65.58 years old.
I am a Military Annuitant with 24 years, 23 days service. I did not and am not planning on making a military deposit (buy back).
I hope to sell back 448 hours of leave when I retire.
I hope to defer collecting my SS benefits until I am 66 years old.
I hope to not withdraw from my TSP until I am forced to at 70.5 years old.
How can this all happen? Looking at take home pay right now (money coming in to the house) v projected annuity/SS money coming in to the house in June 2018 the number comes close. Deductions from fed pay that will go away include FICA, OASDI, Medicare, state income tax, two TSP, union dues, state taxes and good old retire,fers. State taxes will pick up on the FERS annuity but theoretically at a reduced rate. After June 2018 fed taxes will kick in on 50% of the SS.
I really hope my thinking is not unsound. Am I a hopeium addict?
Comments are welcome. I am getting inputs from all over the place outside TSPTalk that my say my sig other will surely starve if we follow my plan and other people can make it all better. All I have to do is give them the keys.
Other retirement preps all ready made: house is paid off, no outstanding credit card debt, cars paid for, major/minor infrastructure in the house done (roof, HVAC, water heater, stove, refrigerator, dish washer, water conditioner, insulation), house still needs painting, factored in before retirement. May need to replace my 2001 vehicle before retiring. Maybe not, where the hell am I going?
PO
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