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My retirement story
- Thread starter 2moryrs
- Start date
nnuut
Moderator | TSP Legend
Getting SHORT now!! View attachment 9577
nnuut
Moderator | TSP Legend
MAN you are Super Short!!!16 days to go
Yeah..I'm health-wise pretty good..and I'm topped out GS-14, for the last 2 years..so my high three would not change much..so this way I get my retirement annuity along with the contractor pay..figuring that 6 months of contractor pay would be like 15 years at the extra 2% for the extra year...Besides I'm sick of the Configuration Management, Lean Sick Sigma..KSN, ISO..T&A..yaddy, yaddy..yearly ass-kissing for performance appraisals, etc..I know I'll be doing similar accounting as a contractor, but it won't tie my hands like the FAA does things...Also I want a new Mercedes E350 sport..Pay off the house and all bills, etc. and move in 3 years to Las Cruces, NM..and do some desert prospecting for meteorites
If you want to prospect, there is a Coast Guard Loran Station you could buy on the cheap... Heavy duty power runs out there. You could turn it into a RV park.
- Emo
Zebra
Member
jimijr
Member
Hey Zeb, will you be getting the Special Supplement? We just had a discussion of this yesterday, on whether the income restrictions -- $14,000, same as those for SSA -- applied to a payout of unused leave. The answer is NO.
Yeah, they reduce it by $1 for every $2 you earn, over $14,000. I'll get about $20,000 for my unused A/L so we were worried there for a minute. Since the leave-dough was EARNED in the previous year, it doesn't count against you. Good news!
Oh, I did learn that because I will not be in pay status on Jan1, last day of the PP, I will not get my 8 hours that PP nor will I get the Jan 1 holiday even though I shall have worked a full 80 hours by Dec 31st. Sucks.
Yeah, they reduce it by $1 for every $2 you earn, over $14,000. I'll get about $20,000 for my unused A/L so we were worried there for a minute. Since the leave-dough was EARNED in the previous year, it doesn't count against you. Good news!
Oh, I did learn that because I will not be in pay status on Jan1, last day of the PP, I will not get my 8 hours that PP nor will I get the Jan 1 holiday even though I shall have worked a full 80 hours by Dec 31st. Sucks.
Hallatauer
Member
Presently I'm about 10 months from retirement eligibility. The hard part will be trying to sell my home on Long Island. The good part is, once I do find a buyer, my paperwork goes in and 3 months later, I'll be retired on an ATC pension of 24 years.
The plan is to move to Texas where we have property near Austin to build a new house on. The equity in the current house will cover that with a little left over. I will have to find a part time to pay for my travel/play time but not gonna stress over that. There will be opportunities.
The countdown has begun!
The plan is to move to Texas where we have property near Austin to build a new house on. The equity in the current house will cover that with a little left over. I will have to find a part time to pay for my travel/play time but not gonna stress over that. There will be opportunities.
The countdown has begun!
Buster
Well-known member
Good luck you guys..Those last few months drag then speed up really fast..you'll see.
Now into my 3rd week of retired CSRS bliss (no money yet)..Got some honey-doos caught up and frankly..I'm ready to go back to work...I got my paperwork today for my new job as a contractor August 2nd....full time, starting off at the bottom of the ladder in the Company..But they did offer me matching pay to what my last year's W2 was..so with only Fed/State and SS with-holdings..I'll be paying off everything in short order..My game is to do this for 3-4 years then really pull the plug and move to Las Cruces, NM..I'll be over 59.5 then and able to take my TSP and run with it too..
Now into my 3rd week of retired CSRS bliss (no money yet
)..Got some honey-doos caught up and frankly..I'm ready to go back to work...I got my paperwork today for my new job as a contractor August 2nd....full time, starting off at the bottom of the ladder in the Company..But they did offer me matching pay to what my last year's W2 was..so with only Fed/State and SS with-holdings..I'll be paying off everything in short order..My game is to do this for 3-4 years then really pull the plug and move to Las Cruces, NM..I'll be over 59.5 then and able to take my TSP and run with it too..
JimmyJoe
Member
I've been retired for 7 months. He He. I like it a lot. I'm in Italy now. I like this free money deal. I think I'm gonna hang around for about 3 more decades. I've got plans that include me having lots o fun. Supervisors are not part of my future. I am 'independently wealthy'. I knew it would be this good. It just took 56 years. Glad I think young. That's the payoff, he he, that's thinkin' outside the box. I'm 56 but I have an inverse age plan. I think like I'm 25 and each year I get one year younger mentally, till I get to the age of 20. There where I shall stay. Funny that a burecrat thinks this way, he he. Can't touch me.
Frixxxx
Moderator
JJ, I need your plan, I'm on track to jump ship at 57, and I am retiring to the Caribbean (teacher part-time if needed)....What implications or benefits are there for living overseas?
Are you exempt from taxation in your host country? What COLA concerns have you run into?
Will you be travelling back to the states often?
Words of wisdom?
Thanks, in advance!
Frixxxx
Like the way you think JimmyJoe! They really have this backwards don't they. Should retire on a pension until you're 55 , then work till you die. I'm still just a teenager at heart.
Just wish the rest of the body would cooperate. After 50 its just patch, patch, patch!
brooksmd
Member
jimijr I'm curious as to what agency you work for. Friday, December 31st is the last day of the PP for USPS. And my retirement date. Since my work sched is Sun-Thur, I will have my 80 hrs. I decided on Dec 31st after reading the article at this link:
http://www.myfederalretirement.com/public/315.cfm
It also works doubly well for me as I turn 62 on Dec 22nd. But with your info I'm wondering if I'm missing something.
brooksmd
Member
Zebra, I'm actually surprised at how fast the last months are going. I expected it to be like waiting for Christmas when I was a kid. Looking forward to my second and last retirement (retired Air Force '87 with 20 years). I'll leave USPS with 22 years and won't shed a tear or look back. I'm looking forward to a New Year's Eve party like no other before it. :toung:
jimijr
Member
Brooksy, I am with NOAA. Our weeks run Sun-Sat and I'm going on Friday the 31st. The choice is, go on Jan 1st and get the 8 hours and the holiday but LOSE the pension payment for all of Jan, or go on Dec 31st and get the pension but lose two days pay. Since the two days are ~700 and the pension is ~3000, I took door number 2.
My plan is to make my annual TSP limit (minus a small amount) and Over-50 limit (in full) by Oct 31st, which there will then remain 5 paychecks until the end of the year plus one in Jan. Those checks will be enormous because I'm putting in over $1000 per check now. That extra dough I will turn into cash money. I should have a fiver in my checking account and another fiver in cash in my drawer, enough to last me until OPM gets it together, say Apr 1st, when I get my 440 hours A/L (~20000) and start getting my half-pay.
Needless to say, all bills will be paid off and I'll be in the clear. It has taken some planning and some algebra to work it out! Living in Key West FL I'll stay put and enjoy all the things I have had to put off due to work commitments, like a trip to Dry Tortugas NP or a weekend at the opera in Miami or a long cruise in my pride and joy -- 1984 MB 380SL -- to visit kinfolk.
The idea is to NOT WORK, I dunno what you other guys are thinking.
My plan is to make my annual TSP limit (minus a small amount) and Over-50 limit (in full) by Oct 31st, which there will then remain 5 paychecks until the end of the year plus one in Jan. Those checks will be enormous because I'm putting in over $1000 per check now. That extra dough I will turn into cash money. I should have a fiver in my checking account and another fiver in cash in my drawer, enough to last me until OPM gets it together, say Apr 1st, when I get my 440 hours A/L (~20000) and start getting my half-pay.
Needless to say, all bills will be paid off and I'll be in the clear. It has taken some planning and some algebra to work it out! Living in Key West FL I'll stay put and enjoy all the things I have had to put off due to work commitments, like a trip to Dry Tortugas NP or a weekend at the opera in Miami or a long cruise in my pride and joy -- 1984 MB 380SL -- to visit kinfolk.
The idea is to NOT WORK, I dunno what you other guys are thinking.
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