Page 15 of 15 FirstFirst ... 5131415
Results 169 to 176 of 176

Thread: PessOptimist's Retirement Story

  1. #169

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,754

    Default Re: PessOptimist's Retirement Story

    I have gotten a reach out from a financial firm I have dealt with in the past telling me I will starve to death if I do not let them manage my retirement money. Friends/acquaintances of the SO are telling her I need to put TSP in the market or she will have no money. One of her acquaintances says the G fund is going to start taking money to meet the national debt. Ah well, good thing she or her acquaintances don’t yet control the TSP. I suppose all this is possible. I also realize that if the TSP was in one of the stock funds it would have gained a lot more this year so far.

    I also realize that since I don’t watch it enough with all other things going on that if it were in annuities, I probably wouldn’t do an IFT soon enough to prevent a loss. Whatever I do is going to be wrong.

    This will drop off the current subjects list until the “friends” get bored during SO’s recovery period at which time they will start to tell her I am pissing away her money.

    It will be good to have friends/acquaintances supporting me during the upcoming surgery. It will be bad having them telling SO how badly I have fucked up her investments. That is part of my life. I do wish they would concentrate on the recovery and stop telling her the money will soon be gone.

    Just me complaining and trying to justify why all has been in G fund for so long. Calculators say it will last in to our 90s. Long term care not covered by the two insurance companies is another issue that I hope doesn’t happen.

    PO

  2.  
  3. #170

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    9,902

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by PessOptimist View Post

    Just me complaining and trying to justify why all has been in G fund for so long. Calculators say it will last in to our 90s. Long term care not covered by the two insurance companies is another issue that I hope doesn’t happen.

    PO
    Our FA pitched two long term care programs at us about a year ago. The up front cost was pretty reasonable. The problem we had was if we ended up not needing long term care all that money disappeared and wouldn't be part of our estate and be passed on to our daughters.
    May the force be with us.

  4.  
  5. #171

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,754

    Default Re: PessOptimist's Retirement Story

    I’ve been retired one year. It has been good to not have to get up, go to work and deal with all the problems.

    Been keeping busy with the wife’s medical stuff so no, I don’t know what I will find to do when I retire. This has kept me busy enough. That and repairing stuff that breaks.

    To recap, I retired on 12/31/18 with 21.5 years federal service (FERS). No breaks, change of station or military buy back. I sold back 440 hours annual leave for which I got paid on 1/17/19 with my last normal paycheck. My first interim OPM payment showed up 2/7/19. An adjustment and another interim payment showed on 3/1/19 and I started getting the final monthly amount on 4/1/19. The SOL website which I think has the perfect acronym, shows a statement dated 2/1/19 with zeros in all blocks. 3/1/19 shows the final interim payment. No mention anywhere of the first interim payment and the adjustment. News about 1099R is “not available”. No hint as to date.

    Other income has been starting wife’s SS benefit in August, my spouse SS benefit in August and a TSP “full withdrawal” with monthly payments in July.

    Tax time is here and I was a bit concerned that both SS and TSP payments had no withholding. Their rule since it was less than ½ year. I chose not to override that. I have started a return in Turbotax and faked 1099Rs from TSP and OPM. Looks like I may be OK. I won’t know until I get all the 1099s and see what they put in which blocks. State taxes are a whole other thing.

    Speaking of Turbotax, I have been thinking for years that it is way too expensive but keep using it. Tax prep fees are not deductible if you don’t itemize, no matter what TT says. I find I can’t use many of the free offers since I need to file a Schedule E. So it goes on.

    Any questions about how this all rolled out are welcomed. Any advice as well.

    PO


  6.  
  7. #172

    Default Re: PessOptimist's Retirement Story

    Any questions about how this all rolled out are welcomed. Any advice as well.

    PO, Once you get this year's return filed with partial year income numbers you should be able to project next year's full year numbers, guestimate tax amounts for next year, and adjust your withholdings to cover taxes due. The first full year will be hard to be accurate with your estimating but after that pretty easy. I always allow a pretty good cushion cause I hate to owe Uncle at year end. LOL Tax rate tables are easy to find online. Good Luck!

  8.  
  9. #173

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    9,902

    Default Re: PessOptimist's Retirement Story

    1099's from OPM should be available to download by end of January.
    May the force be with us.

  10.  
  11. #174

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,754

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by Scout333 View Post
    Any questions about how this all rolled out are welcomed. Any advice as well.

    PO, Once you get this year's return filed with partial year income numbers you should be able to project next year's full year numbers, guestimate tax amounts for next year, and adjust your withholdings to cover taxes due. The first full year will be hard to be accurate with your estimating but after that pretty easy. I always allow a pretty good cushion cause I hate to owe Uncle at year end. LOL Tax rate tables are easy to find online. Good Luck!
    Thanks. Have estimated 2020 income from adjusted Jan payments. Should have a good handle on it all.

  12.  
  13. #175

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,754

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by nasa1974 View Post
    1099's from OPM should be available to download by end of January.
    Yes saw that and the DFAS site has been updated to show W2s will be available 1/18. Getting there just getting antsy about getting taxes done.

    PO

  14.  
  15. #176

    Default Re: PessOptimist's Retirement Story

    Refund of premium death benefit

    If your FLTCIP 3.0 coverage is in force on your date of death, a refund of premium death benefit may be payable. Any PSF amount available will be paid as a refund of premium death benefit to your estate or a beneficiary you designated and who is on file with us, if the beneficiary is alive on your date of death.
    The refund of premium death benefit will be based on the PSF percentage in effect on your date of death. To determine the amount available, we will process any outstanding claims received and recoup any claims overpayments.
    Emotions should never play a role in one's investing strategy!
    No to Greed...No to Fear!
    http://share.robinhood.com/mariloc1

  16.  
Page 15 of 15 FirstFirst ... 5131415

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
  •  
SPY (C Fund) (delayed)
PessOptimist's Retirement Story
(Stockcharts.com Real-time)
DWCPF (S Fund) (delayed)
PessOptimist's Retirement Story
(Stockcharts.com Real-time)
EFA (I Fund) (delayed)
PessOptimist's Retirement Story
(Stockcharts.com Real-time)
AGG (F Fund) (delayed)
PessOptimist's Retirement Story
(Stockcharts.com Real-time)

Yahoo Finance Realtime TSP Fund Tracking Index Quotes