Anonymous wrote:

Anonymous wrote:This is PP who is retiring at 56 from federal government. My spouse and I both started our fed jobs straight out of college. We both invested the maximum in Thrift Savings Plan. We made full catch up contributions after turning 50. We both invested fully in the stock fund (C fund) and just let it ride. We never tried to time the market or play investment strategy games. Now at 56 and 55, we each have $2.5 million in each of our TSP accounts.

Oh I see - it’s a combined NW of 2 individuals. I’m at $2.8 NW at 46 as an individual. Somewhat concerned about “all stocks” investment

Your situation sounds reasonable and where you should be. But the OP seems to have $10mm so the numbers are just not adding up unless one of the spouses was much higher earner, or they invested in riskier assets or RE

Yes, makes a lot more sense and less impressive when you are counting two accounts lol. There is also quite a bit of luck involved if you were 100% C fund. And if you were able to start investing around the time Clinton was in office, you had the benefit of a great head start.

Anonymous wrote:

Anonymous wrote:i would retire after the kids are through college. whatever your NW may be, I'd get them through that phase.

Definately. Family health insurance is more costly than just 2 adults. Extra 10K/year typically

Plus just the mentality of being only the 2 of you, versus responsible for your kids still

But remember that OP will have a federal health insurance family plan which is significantly cheaper than non-fed health insurance options.

Anonymous wrote:i would retire after the kids are through college. whatever your NW may be, I'd get them through that phase.

Definately. Family health insurance is more costly than just 2 adults. Extra 10K/year typically

Plus just the mentality of being only the 2 of you, versus responsible for your kids still

I would. But I live far below my means.

I do think OP is a troll

Anonymous wrote:i would retire after the kids are through college. whatever your NW may be, I'd get them through that phase.

I don't understand this sentiment, nor do I understand the need to pay off mortgage before retirement. If you have a 529 for the kids plus $10M net worth (or even $5M), plus a pension, plus a government health care plan, how could you possibly be worried about not being able to pay for college or be able to pay your mortgage. You probably wouldn't even need to eat into any principle of your $10M to pay for those things.

I feel like people, especially in this area, are focused on amassing as much wealth as possible without thinking about what you will really need to have a comfortable and relaxing retirement.

i would retire after the kids are through college. whatever your NW may be, I'd get them through that phase.

This is a dumb question. If you can’t retire with that much money PLUS a pension (how much?) PLUS healthcare then no one can ever retire.

Anonymous wrote:

Anonymous wrote:Can people just tell me how federal employees can amass 10mm by mid 50s??

Repeating the question: how can federal employees amass such brokerage accounts ? Did you all invest in crypto at the right time, or we’re living below means since age 20? Even two earners at the highest grade won’t get you there by mid 50s

Inheritance

Anonymous wrote:
Oh I see - it’s a combined NW of 2 individuals. I’m at $2.8 NW at 46 as an individual. Somewhat concerned about “all stocks” investment

Your situation sounds reasonable and where you should be. But the OP seems to have $10mm so the numbers are just not adding up unless one of the spouses was much higher earner, or they invested in riskier assets or RE

This is PP from above. I agree that $10M net worth for a single fed worker in their 50s came from other investments or they are counting their spouse in their net worth. There are many who cannot fathom that my situation is true - 2 lifelong feds with a net worth over $5M in mid-50s from only fed salary. I think most people cannot stomach leaving 100% of their investments in stocks, and they get antsy during the market downturns and reallocate their investments at the wrong time or try to get cute with investing strategy. I finally just recently moved 20% of my TSP to bonds. We have also refinanced our mortgage 5 times to get the lowest rate and we invested in pre-paid 529 in-state plans for both of our kids. We definitely do not live frugally either.

Anonymous wrote:It's not that hard to invest $2M inheritance in tech stocks for 10-15 years to schedule $5-10M.

But OP didn’t mention inheritance

It's not that hard to invest $2M inheritance in tech stocks for 10-15 years to schedule $5-10M.

Anonymous wrote:This is PP who is retiring at 56 from federal government. My spouse and I both started our fed jobs straight out of college. We both invested the maximum in Thrift Savings Plan. We made full catch up contributions after turning 50. We both invested fully in the stock fund (C fund) and just let it ride. We never tried to time the market or play investment strategy games. Now at 56 and 55, we each have $2.5 million in each of our TSP accounts.

Oh I see - it’s a combined NW of 2 individuals. I’m at $2.8 NW at 46 as an individual. Somewhat concerned about “all stocks” investment

Your situation sounds reasonable and where you should be. But the OP seems to have $10mm so the numbers are just not adding up unless one of the spouses was much higher earner, or they invested in riskier assets or RE

This is PP who is retiring at 56 from federal government. My spouse and I both started our fed jobs straight out of college. We both invested the maximum in Thrift Savings Plan. We made full catch up contributions after turning 50. We both invested fully in the stock fund (C fund) and just let it ride. We never tried to time the market or play investment strategy games. Now at 56 and 55, we each have $2.5 million in each of our TSP accounts.

Anonymous wrote:Can people just tell me how federal employees can amass 10mm by mid 50s??

Repeating the question: how can federal employees amass such brokerage accounts ? Did you all invest in crypto at the right time, or we’re living below means since age 20? Even two earners at the highest grade won’t get you there by mid 50s