Early Retirement

[Frixxxx]

OK,

Here we go, I'm bumping this thread with my own question:

I will have 21 years civil service (in June, military time already bought) and I am being hounded by two outside private companies to work for them. Based on the current offers, I would start approximately 30K/yr base (one job has minimum 15% bonus on established goals in addition to salary increase) more than I make now. That being said, anyone on here actually do something like this and what lessons learned did you come across.

As you can probably assert, I've been unable to increase my civil service salary commensurate with my knowledge and abilities. I want to hear of "deferred retirement" pitfalls or success stories.

Thanks in advance.

Frixxxx

 

[Buffalo_Nickle]

Re: imported post

Ha Ha. get real Dude there are 10 yr olds that do what you think you are so valuble for!!

 

[alevin]

OK,

Here we go, I'm bumping this thread with my own question:

I will have 21 years civil service (in June, military time already bought) and I am being hounded by two outside private companies to work for them. Based on the current offers, I would start approximately 30K/yr base (one job has minimum 15% bonus on established goals in addition to salary increase) more than I make now. That being said, anyone on here actually do something like this and what lessons learned did you come across.

As you can probably assert, I've been unable to increase my civil service salary commensurate with my knowledge and abilities. I want to hear of "deferred retirement" pitfalls or success stories.

Thanks in advance.

Frixxxx

Deferred retirement, my understanding is you can't take your FEHB health insurance with you. got to be immediate retirement to keep the insurance. something to consider.

 

[Frixxxx]

Ha Ha. get real Dude there are 10 yr olds that do what you think you are so valuble for!!

Really? Either this is a joke, or you're just trying to be rude.

Deferred retirement, my understanding is you can't take your FEHB health insurance with you. got to be immediate retirement to keep the insurance. something to consider.

Yeah, this is a major item. I will qualify for TriCare because I will be retired military.

 

[burrocrat]

OK,

Here we go, I'm bumping this thread with my own question:

I will have 21 years civil service (in June, military time already bought) and I am being hounded by two outside private companies to work for them. Based on the current offers, I would start approximately 30K/yr base (one job has minimum 15% bonus on established goals in addition to salary increase) more than I make now. That being said, anyone on here actually do something like this and what lessons learned did you come across.

As you can probably assert, I've been unable to increase my civil service salary commensurate with my knowledge and abilities. I want to hear of "deferred retirement" pitfalls or success stories.

Thanks in advance.

Frixxxx

that just strikes me as totally odd.

i thought everyone on here was a gs-12 or 13.

everybody is so smart and professional and polite. except for me, but i'm working on that part.

 

[Boghie]

Frixxxxx,

Can't help you, but am in the same position. Now that I am again doing software development and database work I am starting to be poached - and it is very tempting. Very... The problem for me is that the poachers make a large chunk of their money via government contracts - and, when I fly the coop I want to leave the coop far behind. I think Federal spending - and thus 'job security' - will be dramatically affected by our recent largess. In the Great Depression it was the private sector that was in heavy debt and leveraged to the ears, nowadays it is the Federal gubmint. Nobody wants to pay for the gubmint we got - and, I am one of them:-}. Thus, I fully expect a chaotic drawdown in Federal spending to occur soon. That will affect us as well as contractors making the majority of their money via Federal business.

It is a very good thing to have skills that folks want. Also, I think if you look at the 401(k) match and health benefits offered by the types of companies poaching you than you will find them very appealing. Plus, you will not have to pay into a dumbass pension - but your Federal Dog Food Pension will await you at retirement age (but it will not be inflation adjusted till you reach retirement age). It also gives you the option to migrate your TSP holdings into a Self-Directed IRA where you can invest as you wish.

Just build a 3 - 6 month safety net as quick as you can. The private sector has no problem cutting personnel when the economy declines...

 

[PessOptimist]

This is a tough decision with a lot of possible variables. Boghie has a great input. Having TriCare helps the decision. FEHB or TriCare we all end up in Medicare at 65. Long way to go till your MRA. Kid

My real reason for posting was about some of our job series names. They are very broad and don't usually describe what we really do day to day. Humor or rude, I believe the comment was aimed at your job title. I chuckle a little about it myself. Not at you personally. I was a radio mechanic for a while and endured comments about oil changes, tire rotations and tune ups. The tune up part applies to some extent. Now I am an Electronic Equipment technician doing the same job as it has evolved. Neither title even comes close to the scope of the job. I too have nowhere to go to increase my salary. Not much sense now since I am 62 soon.

This post is of no help to you but meant as encouragement and saying good luck whatever your decision. I understand you can also get back your retirement contributions but of course then your annuity won't be there.

I hope someone posts something that answers your concerns.

PO

 

[Frixxxx]

This is a tough decision with a lot of possible variables. Boghie has a great input. Having TriCare helps the decision. FEHB or TriCare we all end up in Medicare at 65. Long way to go till your MRA. Kid

My real reason for posting was about some of our job series names. They are very broad and don't usually describe what we really do day to day. Humor or rude, I believe the comment was aimed at your job title. I chuckle a little about it myself. Not at you personally. I was a radio mechanic for a while and endured comments about oil changes, tire rotations and tune ups. The tune up part applies to some extent. Now I am an Electronic Equipment technician doing the same job as it has evolved. Neither title even comes close to the scope of the job. I too have nowhere to go to increase my salary. Not much sense now since I am 62 soon.

This post is of no help to you but meant as encouragement and saying good luck whatever your decision. I understand you can also get back your retirement contributions but of course then your annuity won't be there.

I hope someone posts something that answers your concerns.

PO

I get it now about my title on my profile! I totally forgot it was there and now I'm feeling bad about chastizing B_N! Sorry Buffalo!!!!!
Yes, I am a Computer Scientist (Series 1550). I have 26 years of Computer Operations, Programming, Networks, Information Assurance, COMSEC Manager, Project management, you name it I've done it.

Plus my military experience and I have worked in many joint environments as well as DISA.

Well, I turned down the first offer. It was 27K/yr more than I make. It wasn't that hard after realizing what alevin said about FEHB. Plus it added years to my current retirement date.

Peace out, and once again, apologies Buffalo!