Reply to At what age will you retire and with how much?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]49 year old fed; spouse is 48 and isn’t in govt but makes less than me.  We hit our first $1M around 8-9 years ago in retirement.  We have at least $3.5M combined in 401k/403b accounts.  At least $1M equity in house which will be paid off when oldest is a sophomore in college.  I’ll have a pension at least 90K and we’ll both have social security.  Hope to retire by 60 at the latest when I’d qualify for full health care and no reduction in pension as I’d have 30 years of service by then.  No inheritances and I paid off a huge grad school loan debt for law school.  How?  We always maxed except one period when nanny expenses were really right with our mortgage etc. No new cars til paid off my grad school loans.  Fingers crossed markets are ok 10 years out.[/quote]

You must have bought your house in late 1990s/early 2000s.
How did you do that with low Fed/non-Fed newbie salaries, nanny costs, grad student loans needing repayment early on in your careers?  Were you private sector pre-Fed? Something’s not adding up.[/quote]

Also, what fed agency do you work for where you qualify for a 90k+ pension with 30 years in government?[/quote]

+1 Yeah, I wonder if this poster will even reply, lol
Maybe financial reg agency?  Are those pensions that high?[/quote]

My DH works for a financial reg agency and it should be that high.[/quote]
I don’t know any SES that makes $300k annually. Are you also counting his TSP?  [/quote]

You don’t need that much, especially if you stay till 62 and get the 1.1% multiplier.  For me it’s $250k (cap of band)  x 33 years = $90750.

Not staying till 62 is a huge cut, but lots of people do it. [/quote]

What's the 1.1% multiplier?[/quote]

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