Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Have you looked into how much IRMAA will hit you, if you take Medicare Part B? Be forewarned .

How do I learn what this means?

https://www.nerdwallet.com/article/insurance/medicare/what-is-the-medicare-irmaa

Here are the current premiums, per month:

https://www.irmaacertifiedplanner.com/2024-irmaa-brackets/

So what does this mean? if joint filing for $204,000 or less, the premium for Part B is $174.80

I assume this is one person per month. So if married, you pay 174.80 x 2. Is there anything else I need to pay? $350 per month for couple doesn't sound too bad.

As a single person, I can only earn 103K per year in retirement. That seems unlikely, especially after Required minimum distributions kick in (age 73).

I had hoped to continue my private (Fed subsidized) medical insurance to fill in Medicare Part B gaps (for example, Part B does not cover drugs). I also have a long term care policy. So it is unlikely you will only have Part B (which covers doctors visits, and some other services ).

Don’t a lot of retiring feds just not enroll in Part B?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We’re mid-50s and our number is around $4M to generate income (with one modest pension & SS). This will probably take into our mid-60s to do, so we have to guess when we reach the breakpoint of enough money to support a lot of travel vs enough healthy years to actually do it.

So glad I never understood the "magic" of traveling. I'd much rather spend time in my nice house than a random village in Thailand.

Since this magical activity seems to be a significant cost in retirement for many, I also get to retire earlier. Yay, me!

I think of the world as a yard you can play in. I cannot relate to someone who is content to spend their life in one corner of the yard and not explore what else there is.

I can appreciate differences but you sound obnoxious.

Np

No one is criticizing the person who said they have no interest in travel. This poster is just explaining why he takes an alternative view. No one said they are better than the other.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Have you looked into how much IRMAA will hit you, if you take Medicare Part B? Be forewarned .

How do I learn what this means?

https://www.nerdwallet.com/article/insurance/medicare/what-is-the-medicare-irmaa

Here are the current premiums, per month:

https://www.irmaacertifiedplanner.com/2024-irmaa-brackets/

So what does this mean? if joint filing for $204,000 or less, the premium for Part B is $174.80

I assume this is one person per month. So if married, you pay 174.80 x 2. Is there anything else I need to pay? $350 per month for couple doesn't sound too bad.

As a single person, I can only earn 103K per year in retirement. That seems unlikely, especially after Required minimum distributions kick in (age 73).

I had hoped to continue my private (Fed subsidized) medical insurance to fill in Medicare Part B gaps (for example, Part B does not cover drugs). I also have a long term care policy. So it is unlikely you will only have Part B (which covers doctors visits, and some other services ).

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We’re mid-50s and our number is around $4M to generate income (with one modest pension & SS). This will probably take into our mid-60s to do, so we have to guess when we reach the breakpoint of enough money to support a lot of travel vs enough healthy years to actually do it.

So glad I never understood the "magic" of traveling. I'd much rather spend time in my nice house than a random village in Thailand.

Since this magical activity seems to be a significant cost in retirement for many, I also get to retire earlier. Yay, me!

I think of the world as a yard you can play in. I cannot relate to someone who is content to spend their life in one corner of the yard and not explore what else there is.

I can appreciate differences but you sound obnoxious.

Np

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My "I'd walk away without another thought" number is $10M (single, no kids, 50s).

I won't get to 10M absent some kind of windfall, but will likely retire with $3-4M TSP, $1M other, fed pension in the 150-200 range, $1M house paid off.

How are you getting a Fed pension of $150-200k? Are you dual Feds?

Never mind, saw you are single. How are you getting $150-200K pension? Doctor?

I also wonder how you are getting 150-200K pension?

Some private companies still need offer pensions.

Yeah but PP mentioned a TSP account.

Which, not that I am reading about a single TSP with $3-4M, I am realizing PP is trolling.

Can’t 2 Feds do that?

1 fed, independent agency, advanced degree, very long tenure (at top of wage scale now), max tax deferred TSP contributions nearly all in equities for the whole time. TSP now nearing 3M. If retiring at 62, the internal pension calculator puts the pension in the 150-200 range. No, I'm not going to post my statements and W2. But it's possible and I am definitely not the only person in my agency in this situation.

What is an independent agency? Also, the all equities strategy is risky for those not early in their careers. 60/40 is the norm and I wouldn’t break too much with that unless I was very comfortable with risk.

Basically, this person is at an agency that is not on the GS scale and has its own pension plan and version of TSP.

I posted earlier. Am likely at the same agency but longer tenure and greater age. My TSP is considerably larger. All equities for decades but a year ago put 15% into governments and am still questioning why I bothered. Pension is effectively a huge bond portfolio. Am near retirement and switched to including a percentage of governments for dealing with RMDs when they come.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My "I'd walk away without another thought" number is $10M (single, no kids, 50s).

I won't get to 10M absent some kind of windfall, but will likely retire with $3-4M TSP, $1M other, fed pension in the 150-200 range, $1M house paid off.

How are you getting a Fed pension of $150-200k? Are you dual Feds?

Never mind, saw you are single. How are you getting $150-200K pension? Doctor?

I also wonder how you are getting 150-200K pension?

Some private companies still need offer pensions.

Yeah but PP mentioned a TSP account.

Which, not that I am reading about a single TSP with $3-4M, I am realizing PP is trolling.

Can’t 2 Feds do that?

1 fed, independent agency, advanced degree, very long tenure (at top of wage scale now), max tax deferred TSP contributions nearly all in equities for the whole time. TSP now nearing 3M. If retiring at 62, the internal pension calculator puts the pension in the 150-200 range. No, I'm not going to post my statements and W2. But it's possible and I am definitely not the only person in my agency in this situation.

What is an independent agency? Also, the all equities strategy is risky for those not early in their careers. 60/40 is the norm and I wouldn’t break too much with that unless I was very comfortable with risk.

Basically, this person is at an agency that is not on the GS scale and has its own pension plan and version of TSP.

I posted earlier. Am likely at the same agency but longer tenure and greater age. My TSP is considerably larger. All equities for decades but a year ago put 15% into governments and am still questioning why I bothered. Pension is effectively a huge bond portfolio. Am near retirement and switched to including a percentage of governments for dealing with RMDs when they come.

Anonymous wrote:Zero. My wife I hate has a pet thing makes any traveling or going out a major headache.

Staying home is torture. I also have allergies and asthma so hard to breath at home.

My father and father in law worked till near death like a lot of men

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We’re mid-50s and our number is around $4M to generate income (with one modest pension & SS). This will probably take into our mid-60s to do, so we have to guess when we reach the breakpoint of enough money to support a lot of travel vs enough healthy years to actually do it.

So glad I never understood the "magic" of traveling. I'd much rather spend time in my nice house than a random village in Thailand.

Since this magical activity seems to be a significant cost in retirement for many, I also get to retire earlier. Yay, me!

I think of the world as a yard you can play in. I cannot relate to someone who is content to spend their life in one corner of the yard and not explore what else there is.

Different strokes for different folks. But air travel is one of the biggest contributors to global warming out there. The world may be your playground but it’s also where you eat breathe and sleep.

Please share with us everything else that you do because of your concern about global warming. Lol. Let me guess, nothing. You say that only because you can’t afford to travel.

It’s so true. Private air travel puts out a ton of carbon emissions. It’s incredibly wasteful and selfish. And no, you cannot recycle your way out of this. One of the many reasons Harry and Meghan look ridiculous preaching about climate change is their use of private air. Same for Jeff Bezos and Lauren Sanchez. Next level materialism and waste.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My "I'd walk away without another thought" number is $10M (single, no kids, 50s).

I won't get to 10M absent some kind of windfall, but will likely retire with $3-4M TSP, $1M other, fed pension in the 150-200 range, $1M house paid off.

How are you getting a Fed pension of $150-200k? Are you dual Feds?

Never mind, saw you are single. How are you getting $150-200K pension? Doctor?

I also wonder how you are getting 150-200K pension?

Some private companies still need offer pensions.

Yeah but PP mentioned a TSP account.

Which, not that I am reading about a single TSP with $3-4M, I am realizing PP is trolling.

Can’t 2 Feds do that?

1 fed, independent agency, advanced degree, very long tenure (at top of wage scale now), max tax deferred TSP contributions nearly all in equities for the whole time. TSP now nearing 3M. If retiring at 62, the internal pension calculator puts the pension in the 150-200 range. No, I'm not going to post my statements and W2. But it's possible and I am definitely not the only person in my agency in this situation.

What is an independent agency? Also, the all equities strategy is risky for those not early in their careers. 60/40 is the norm and I wouldn’t break too much with that unless I was very comfortable with risk.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We’re mid-50s and our number is around $4M to generate income (with one modest pension & SS). This will probably take into our mid-60s to do, so we have to guess when we reach the breakpoint of enough money to support a lot of travel vs enough healthy years to actually do it.

So glad I never understood the "magic" of traveling. I'd much rather spend time in my nice house than a random village in Thailand.

Since this magical activity seems to be a significant cost in retirement for many, I also get to retire earlier. Yay, me!

I think of the world as a yard you can play in. I cannot relate to someone who is content to spend their life in one corner of the yard and not explore what else there is.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We’re mid-50s and our number is around $4M to generate income (with one modest pension & SS). This will probably take into our mid-60s to do, so we have to guess when we reach the breakpoint of enough money to support a lot of travel vs enough healthy years to actually do it.

So glad I never understood the "magic" of traveling. I'd much rather spend time in my nice house than a random village in Thailand.

Since this magical activity seems to be a significant cost in retirement for many, I also get to retire earlier. Yay, me!

I think of the world as a yard you can play in. I cannot relate to someone who is content to spend their life in one corner of the yard and not explore what else there is.

Different strokes for different folks. But air travel is one of the biggest contributors to global warming out there. The world may be your playground but it’s also where you eat breathe and sleep.

Please share with us everything else that you do because of your concern about global warming. Lol. Let me guess, nothing. You say that only because you can’t afford to travel.

DP--huh? I too limit my air travel because of its environmental impact--not because of money. It's kind of basic responsibility 101 these days.

Np +1 we limit ourselves to one to two trips per year. I can’t get my head around people who fly everywhere on a whim.