nnuut's Account Talk

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Still 100% "G" just don't trust the Market! If I had more than 2 IFTs I would play around but with only 2, NAH! frog3.gif
 
nnuut, you'll get the late sleeping out of your system quickly once your body catches up on sleep deprivation, unless you can't think of anything to get up for besides work. I bet you can think of SOMEthing worth getting up for. :cool: Congratulations!
 
nnuut said:
OK, OK! I know 08:45 is too late but I'm testing the water!!

2nd day of retirement CSRS these are some of the things I'm dealing with:

1. So far I'm waiting for my first Monthly Pay Check, they say it will be about 80% of the correct amount until they finalize the numbers.

2. They also say that I should get my pay for the Annual leave I cashed in about 6 weeks from my retirement date (422 hours)? Don't forget to send the State some TAX money or they will penalize you for not paying during the year. OPM only takes Federal Tax out, at a rate of about 20%!!

3. leaving TSP money in the TSP, can withdraw Monthly distributions which can be a dollar amount or a percentage. When I do I've decided to take 4% a a year for now. That's until I'm 70.5 years old then the Gov't forces retirees to withdraw Mandatory Distributions, which is much higher.

5. I can start withdrawing Social Security in March if I want. I paid SSA for 17 years and should get about $750 a month, but I'm CSRS and we have to deal with the WEP (Windfall Elimination Provision) which reduces my SSA by 60%!!:mad:! I will start when I turn 65, my full retirement age is 66 so I will pay another penalty of 1.2% for drawing it early. That would reduce it to $285 a Month, THANK YOU! Still thinking about that one! I think it's better to go ahead and take the cut.

6. Medicare----------------! When I turn 65 I am MANDATED to apply for Medicare. It will become my Primary Health insurer FEHBP is secondary but if you keep FEHBP it's secondary and pays their part of what Medicare doesn't pay, BUT your PREMIUMS remain the same as other Gov't workers!! You MUST apply for Medicare within 3 months of your 65th birthday or get penalized and your premiums will be higher FOREVER!! Part A is Free for me and Part B costs $110 a month, sense I have FEHBP I don't need part C of Medicare Advantage. Still thinking about that one too!!

For those interested I will update this as things happen.
Click to expand...
Nnut

sounds like you have a part time job: RETIREMENT COUNSELOR !!! You gave me more pertinent info. than my HR folks, keep up the good work. I have been canvassing close retirees and retirees for a couple of years now. nothing like hearing it from the horses mouth, not that you look like a horse. :blink: I know your the NNUT :D!!! not that you look like a nut. :embarrest:anyway thanks for the advice, keep it coming.
 
CONGRATULATIONS ! ! ! ! ! :D

I have been retired one full year now and I LOVE LOVE LOVE it!

You are in the same boat as my husband with CSRS and SS. He chose not to pay the Medicare part B. Puts all his $268 of SS in the bank for the day he might need it for a medical emergency. He is very healthy right now, but there are no guarantees.
It sucks when he does go to the DR and they charge what they charge and FEHPB only pays medicare rate. But that's why he puts the $268 in the bank! We will have it to pay the bills if we need it instead of paying $110 to MEDICARE.

Thanks for all your wisdom and humor!

2moryrs (not!)
 
grandma said:
-sure -
get up and call the office...tell them you won't be in today! Be sure they hear your guf-faw loud & clear before you hang up !!

View attachment 7860
View attachment 7859
Click to expand...

I did call work today!! They were supposed to delete me from payroll within 3 days. Timekeeper is on leave so my boss had to get an administrative Assistant to do it. HRO said if they didn't it would delay my 1st pay check. That's the Gov't for you.:laugh:
 
2moryrs said:
CONGRATULATIONS ! ! ! ! ! :D

I have been retired one full year now and I LOVE LOVE LOVE it!

You are in the same boat as my husband with CSRS and SS. He chose not to pay the Medicare part B. Puts all his $268 of SS in the bank for the day he might need it for a medical emergency. He is very healthy right now, but there are no guarantees.
It sucks when he does go to the DR and they charge what they charge and FEHPB only pays medicare rate. But that's why he puts the $268 in the bank! We will have it to pay the bills if we need it instead of paying $110 to MEDICARE.

Thanks for all your wisdom and humor!

2moryrs (not!)
Click to expand...
Really, I think FEHBP should drop the premium for Medicare retirements to about 1/2, because they have to pay a very small portion of the benefits. CROOKS copsblow.gif
How long did it take to get the first partial (80%) check? They say 60 to 90 days!!:sick:
 
Retirement UPDATE!!

1. So far I'm waiting for my first Monthly Pay Check, they say it will be about 80% of the correct amount until they finalize the numbers.

2. They also say that I should get my pay for the Annual leave I cashed in about 6 weeks from my retirement date (422 hours)? Don't forget to send the State some TAX money or they will penalize you for not paying during the year. OPM only takes Federal Tax out, at a rate of about 20%!!
A. Received payment for Cashed in Annual leave on pay date 01/08/10 417.50 Hours!! BOY was that Fast, I retired on the 2nd of January, so far so GOOD!
This counts on 2010 TAXES, which is GOOD!!!

3. leaving TSP money in the TSP, can withdraw Monthly distributions which can be a dollar amount or a percentage. When I do I've decided to take 4% a a year for now. That's until I'm 70.5 years old then the Gov't forces retirees to withdraw Mandatory Distributions, which is much higher.

5. I can start withdrawing Social Security in March if I want. I paid SSA for 17 years and should get about $750 a month, but I'm CSRS and we have to deal with the WEP (Windfall Elimination Provision) which reduces my SSA by 60%!!:mad:! I will start when I turn 65, my full retirement age is 66 so I will pay another penalty of 1.2% for drawing it early. That would reduce it to $285 a Month, THANK YOU! Still thinking about that one! I think it's better to go ahead and take the cut.

6. Medicare----------------! When I turn 65 I am MANDATED to apply for Medicare. It will become my Primary Health insurer FEHBP is secondary but if you keep FEHBP it's secondary and pays their part of what Medicare doesn't pay, BUT your PREMIUMS remain the same as other Gov't workers!! You MUST apply for Medicare within 3 months of your 65th birthday or get penalized and your premiums will be higher FOREVER!! Part A is Free for me and Part B costs $110 a month, sense I have FEHBP I don't need part C of Medicare Advantage. Still thinking about that one too!!

For those interested I will update this as things happen.
 
nnuut said:
Retirement UPDATE!!


For those interested I will update this as things happen.
Click to expand...

NNUTT!,

First of, congrats on your retirement...We are all jealous you lucky bastage!:cheesy:

Next, please (PLEASE!!!) keep us all updated on your retirement finances! I am still appx 10 years away from retirement (will have 27 years in at that point but it is FERS so my percentage will be 41:sick: of the high 3 compared to your 80. I always try to plan my finances about 10 years out so what you are going through is what I am researching now. What you tell us, I know, will be 100% reality instead of what the so called experts in each of our agencies tell us.

Again, congrats and best of luck!

mcq
 
"How long did it take to get the first partial (80%) check? They say 60 to 90 days!!:sick: "

It took until the first of March to get my first partial check and then the second one came in about two weeks after that. They were for 1/1/09 thru 2/28/09 (two months). Then full annuity arrived April first!

You received your leave check very fast indeed! Mine took about 30 days; just in time to pay for major repairs to my pickup truck! Easy come easy go! But I have only one debt and that is to the credit union (borrowed from myself). I have paid off everything else. Feels pretty good to be blessed to be in this position when so many others live paycheck to paycheck.
 
alevin said:
nnuut, you'll get the late sleeping out of your system quickly once your body catches up on sleep deprivation, unless you can't think of anything to get up for besides work. I bet you can think of SOMEthing worth getting up for. :cool: Congratulations!
Click to expand...

Sit on the front porch in your rocking chair for three months. What then you ask. Start rocking! :D
 
Mcqlives said:
NNUTT!,

First of, congrats on your retirement...We are all jealous you lucky bastage!:cheesy:

Next, please (PLEASE!!!) keep us all updated on your retirement finances! I am still appx 10 years away from retirement (will have 27 years in at that point but it is FERS so my percentage will be 41:sick: of the high 3 compared to your 80. I always try to plan my finances about 10 years out so what you are going through is what I am researching now. What you tell us, I know, will be 100% reality instead of what the so called experts in each of our agencies tell us.

Again, congrats and best of luck!

mcq
Click to expand...
That was unbelievable got the leave money in less than a week!! I will post all everything, keep in mind I'm CSRS. I retired with 36 years 9 months that comes to approximately 69.8% for retirement purposes. to get 80% you must have 40 years 11 months!!

2moryrs said:
"How long did it take to get the first partial (80%) check? They say 60 to 90 days!!:sick: "

It took until the first of March to get my first partial check and then the second one came in about two weeks after that. They were for 1/1/09 thru 2/28/09 (two months). Then full annuity arrived April first!

You received your leave check very fast indeed! Mine took about 30 days; just in time to pay for major repairs to my pickup truck! Easy come easy go! But I have only one debt and that is to the credit union (borrowed from myself). I have paid off everything else. Feels pretty good to be blessed to be in this position when so many others live paycheck to paycheck.
Click to expand...
That's a little over 2 Months, not that bad!

Scout333 said:
Sit on the front porch in your rocking chair for three months. What then you ask. Start rocking! :D
Click to expand...

Today the wife and I are stripping WALL PAPER from out Master Bath. We are in the process of remodeling that thing, it's 10' x 15', 2 vanities so I get no rest today. If you've ever removed Wall paper you know it's HELL!!
Have a good one!! nomonkey1.gif
 
For you my firend...

And they ask---Why I Like Retirement

Question: How many days in a week?
Answer: 6 Saturdays, 1 Sunday
Question: When is a retiree's bedtime?
Answer: Three hours after he falls asleep on the couch.

Question: How many retirees are needed to change a light bulb?
Answer: Only one, but it might take all day.

Question: What's the biggest gripe of retirees?
Answer: There is not enough time to get everything done.

Question: Why don't retirees mind being called Seniors?
Answer: The term comes with a 10% percent discount.

Question: Among retirees what is considered formal attire?
Answer: Tied shoe laces.

Question: Why do retirees count pennies?
Answer: They are the only ones who have the time.

Question: What is the common term for someone who continues to work and refuses to retire?
Answer: NUTS!

Question: Why are retirees so slow to clean out the basement, attic or garage?
Answer: They know that as soon as they do, one of their adult kids will want to store stuff there.

Question: What do retirees call a long lunch?
Answer: Normal

Question: What is the best way to describe retirement?
Answer: A never ending Coffee Break or a permanent vacation.

Question: What's the biggest advantage of going back to school as a retiree?
Answer : If you cut classes, no one can call your parents.

Question: Why does a retiree often say he doesn't miss work, but misses the people he used to work with?
Answer: He is too polite to tell the whole truth.

Question: What do you do all week?
Answer: Monday to Friday; Nothing. And on Saturday & Sunday I rest.

 
HEY!!!! WATCH IT BUSTER!!:nuts::laugh:
Question: What is the common term for someone who continues to work and refuses to retire?
Answer: NUTS!
 
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