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Reply to "If you have a pension, do you max out retirement savings too?"
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[quote=Anonymous][quote=Anonymous]Question is in the subject line. I see lots of advice on this board to max out retirement savings, which to me means $17,500 for both working adults, as well as $5000 to an IRA each year. DH and I will both have FERS pensions coming to us, and while we put a good chunk of change in our retirement savings, we still don't max out. I've played with various calculators online to try and estimate whether we are saving enough, but I was just curious if others with pensions felt the need to fully max out other retirement vehicles as well. Thanks for indulging my curiousity.[/quote] FERS is calculated with the expectation that you will contribute to TSP. My husband and I are both FERS employees and we both max out TSP and put $5500 into IRAs each year. When we were still paying off student loans, we didn't quite max out our TSP, but we at least did enough to get the 5% match.[/quote]
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