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[quote=Anonymous]I would keep track of your actual expenses-- use YNAB or mint for a while to do that.  Figure out what you need every month to pay your bills.  That times 12 is what you need annually.

I would not plan on taking out more than 2-3% of your TSP per year or you could run out, depending on how long you and your spouse live.

I have a pretty similar scenario as you, pension is 33% of income, which should give me about $48,000 pretax per year, plus the SS benefit (not sure what that would be but I assume something like $1200 per month).  Post-tax for the pension would be about $36,000 per year or $3000 per month (taxed as regular income @25% or so).  So that's  an estimated $4200 per month, pension with the supplemental SS.

My living expenses right now are $7000/month.  So my shortfall would be about $3200 per month, or more like $40,000 per year (due to paying capital gains taxes).  So my TSP account, to sustain 30 years of about that amount, would need to be, rounded up, about $1,300,000.  But that's not including inflation-- the pension will be tied to a COLA but $3000 won't be enough per month in the future so there would have to be some growth to account for inflation.

To make up that shortfall, if I retire at 55 I could work at another job.  Or maybe lower expenses more... If I don't have $1.3M in my TSP which I'm thinking I won't...

You can do similar math to figure out your situation.  [/quote]

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