Reply to How do you value a pension in your net worth?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am a federal employee, I joined the government in my early 20s and can retire at my minimum retirement age of 57 with over 30 years of service. I’m calculating at age 57 I’d have 33
years and my high 3 average salary would be around $200k so I could have around $66k in pension annual income for the rest of my life, more if I stay longer.

My DH didn’t join the government until his 40s so at 57 he’ll be closer to half that or $30k annually for life.

We do have over $1m in the TSP with several years to go and will both get the maximum SS, but when I see all of these posters with a lot more retirement savings I wonder if we’re behind or doing ok due to the pensions.
[/quote]
We are in a similar position and we have calculated that we will be able to have a comfortable retirement between pension and social security. We don’t plan to touch TSP unless absolutely necessary. Our idea of retirement doesn’t include extravagant tastes though.[/quote]

We plan to do the same. Only about 130k/yr but it’s enough for us. No need to take money out of TSP/401k. [/quote]

What do you do with the TSP money PP?[/quote]

We will probably give it to our kids or spend on long-term care if needed. If we find something to spend it on, we can do that too. It will be pretty significant amount. [/quote]

If you live long enough, you will have required minimum withdrawals from TSP, like any qualified plan. You don’t have to spend it, but you will have to pay taxes on it. [/quote]

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