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Reply to "“Lifer” feds, did you/are you planning to retire on schedule?"
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[quote=Anonymous]I'm in your same position and hoping to stay on until I'm at least 62. While I could collect FERS at 57 that would replace just 30 percent of my final salary. You can't take anything out of your TSP without a penalty until age 59.5 and you can't collect social security until 62 so even with my mortgage paid off and my kids out of the house at 57 I can't live on 30 percent of my final income. Plus if you go beyond your initial retirement date you get a higher percentage, the multiplier by year is 1.1% rather than 1% per year. Adding my TSP and SS should get me pretty close to my final salary for life if I stay until age 62, which should be quite do-able.[/quote]
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