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Reply to "FERS Retirement Planning - Still confused"
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[quote=Anonymous]I see it as a four-legged stool -- i.e., at age 56 I will be free to try something new, earn less money, take a job for love not for the paycheck. But I will still have to work. My pension will be something like $37,000 pre-tax, my TSP will be something like $600,000 +/-, other savings maybe $300,000. The SS benefit kicks in at age 56 but will be minimal ($1000/month). So pre-tax at age 56 I would get something like $50,000, after tax about $35,000. I would have lower expenses but our household income would be roughly half of what it would be working at this same job. So I would need to work to make up for that missing half. I could work part-time or do something paid less well, but I will still need to work, probably for another 15 years at least. [/quote]
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