Reply to And that’s the $5M point

Forum Index » Money and Finances

Reply to "And that’s the $5M point "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Thanks retired law partner for sharing your experience.

We have about 5M plus fed pensions that will pay roughly 130K annually, one of us has left and one of us will not depart fed service for 6-12 months.  We will have federal health insurance but still have one child left to get through college.

We plan to work for at least 5 more years, but that is because we enjoy our jobs and we will only use it to make retirement nicer.  It’s huge to know we don’t have to work, but it is hard to get our arms around it mentally.  The idea of spending any of this money we have been savings for so long feels like we are doing something wrong.[/quote]

As a fellow, albeit former, fed, I want to say to you, "come on in, the water is fine!" So long as you have your post-retirement life planned hobbies expanded, travel, etc. so you won't be sitting around all day. TSP has nice withdrawal options that pair with pension so that it's like getting a 2x monthly paycheck. My post-retirement "pay" based on a less than 4% withdrawal is more than my former paycheck. And I can do lots of neat things that I didn't have time for when I was working. I'm just saying this because I don't want you to miss out on life - we are not getting younger, health issues crop up, and Feds as a group are quite conservative/resistant to change. Yes, it's a big change. But it will be okay. Great even![/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics