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Reply to "Big Law to Government - Living Expenses"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here. Thanks PP. Right, DC is a different market than most of the rest of the US. I almost feel like I'm just going to start pretending I live in NYC. I've paid almost all of my 200K loans - tiny bit left at a very low interest rate, and I pay about 250/mo towards them, although they will be gone very soon. I take home about 6000/mo (not including the two extra months a year when I get three paychecks) - while contributing enough to retirement to get a match but not maxing it out. With those numbers - just curious what you think would be reasonable. Paying $2100 seems to be getting harder and harder in DC.[/quote] Advice from someone who can retire at 58 in part because of it --- max out your TSP from Day 1, it is a "must" IMO to get your retirement benefit up to anything approaching where it might have been under the old system w/ CSRS. Not sure how old you are but 25 yrs. of max. TSP contributions and good investment choices resulted in a high six figure TSP account to draw on. Pay yourself first. :wink: [/quote] Thanks, good advice - and a pretty good position to be in. The government retirement system is not what it used to be. I wish it was. New employees pays 1000s more a year towards the pension system and often come in with lower starting salaries, even when coming in laterally. I know that nowadays the benefits really don't keep newer employees in the government - most I've talked to want out in a couple years.[/quote] Pp here.. IMO that's mostly irrelevant. Your goal should be to max your TSP, which you can take with you if you leave (once it vests). These are the building blocks that make it possible to not have to work to 65-70-75 unless you want to. :wink: [/quote]
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