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Reply to "Share your financial mistakes or coups "
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[quote=Anonymous]Question: yes I will get a pension from the govt of my high 3, approx $50K/yr, plus SS (not sure what that would be but maybe $25K/yr). DH has pension as well ($30K/yr). We have no debt except mortgage. I do plan on working after 56, just not at my current grinding soul-sucking middle management job from hell... I do not plan on touching my TSP until well into my 60s and maybe 70s. Now what's your prognosis? Answer: Sounds like you have no idea what your expenses are. Spend the next few years living off of $80k and see if you can do it. Save the rest. Track your finances, perhaps using Mint.com. This will 1. bump up your savings, 2. If you can do it, it will make SS payments and TSP/401k distributions icing on the cake and give you a nice reserve in case SS changes, medical bills skyrocket, etc. Plenty of folks can live very comfortably on $80k. Many can't. I can't decide if you can or can't without knowing your expenses. [/quote]
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