Starting to Pay Attention Now - New!

[Frixxxx]

P.S. Hey, Frixxx...I'm pretty sure the SS supplement is only available for those who retire with 30 years, and < age 62...looks like 2p2o will be above that age when she hits 30 years creditable service. Good thought, though...

Doh, I read her post wrong....I thought it said she had 20 years at 45....:embarrest:

Yup. Gotta meet 60+ 20 or MRA+30 to get the SS Supplement while under 62. If I go when meet that threshold, I'll get about 2 yrs worth of Supplement. Welcome to the board.

I'm scheduled with 31 years @57 so I'm hoping for 5 years worth of supplement!

 

[Stoplight]

...I'll get about 2 yrs worth of Supplement....

...with no COLA on your basic pension


Stoplight...

 

[alevin]

Yup. Gotta meet 60+ 20 or MRA+30 to get the SS Supplement while under 62. If I go when meet that threshold, I'll get about 2 yrs worth of Supplement. Welcome to the board.

 

[Stoplight]

Welcome, 2p2o !!!

It sounds like you've accumulated some interesting "life experiences" This Board is FULL of all kinds of people with those, and there's a TON of good advice available, too. We rarely agree on much, but spend a little time, reading, learning, and asking questions, and you'll be able to pick out the path that's right for you...after all, it's nobody's money but yours ! You're on the right track !

Best Wishes in your career and your investing !


Stoplight...

P.S. Hey, Frixxx...I'm pretty sure the SS supplement is only available for those who retire with 30 years, and < age 62...looks like 2p2o will be above that age when she hits 30 years creditable service. Good thought, though...

Welcome 2p2o,

Congratulations on your return to civil service and good luck with those 4 kids!!!!

I hope when they brought you on board they explained the way a FERS retirement works...Remember that there is a SS suplement if you retire before 62.

L2050 is the best way to get your feet wet and allow you to be aggressive.

Good luck!

Happy Investing!

Frixxxx

 

[Frixxxx]

Welcome 2p2o,

Congratulations on your return to civil service and good luck with those 4 kids!!!!

I hope when they brought you on board they explained the way a FERS retirement works...Remember that there is a SS suplement if you retire before 62.

L2050 is the best way to get your feet wet and allow you to be aggressive.

Good luck!

Happy Investing!

Frixxxx

 

[nnuut]

Welcome to the Forum 2peaches2oranges.
Best of luck
Norman

 

[tsptalk]

Welcome, and thanks for joining us!

L2050 sounds about right for now. With 20 years to go you'd want to be aggressive - if you are not trying to time the market.

If you stick around here long enough that might change as it gets harder to stay in stocks when they fall, along with your balance. Timing the market is easier said than done, but sitting helplessly as a buy and holder during downturns is too much for me to handle - and more risky than trading, in my opinion.

Good luck!

 

[2peaches2oranges]

Hello, new to this forum. I am here because I have not done very well in planning for the future, but the more gray hair I see, the more it is making me want to pay more attention to how to weather getting older and the future - moneywise.

I left federal service in 1999 after 7 years and pulled my money out of the TSP, it's all gone now except for $4000 in a ROTH IRA at Schwab that I have not contributed anything to since 1999, which is mostly 3 stocks, remnants of the tech run-up. I don't think I can transfer that back into the TSP, so it sits until I decide to pick a fund.

I re-entered federal service in 2011 after finishing my masters degree, staying home raising 4 babies, a divorce and moving from FL to CA. I now have $25K in the TSP - yay! I have been contributing 6% for the match, but I recently upped it to 10% but maybe I should look at somewhere else to park that 4% to grow.

I accepted a downgrade to get back into the government, and finally after almost 3 years, I am making 2 steps more than I made in 1998. Sad. Luckily, I am in a career ladder position and will be an 11 in a year and hopefully will continue to move up.

I am 45 and have an 2004 SCD, so I have about about 20 more years to go to get in 30 years of service. I am not sure if I even have to work for 30 years to get FERS retirement, but I think I have to be 67 to get SS, so that is 22 more years.

Right now, I have all of my future funds and current balance in the L 2050 fund. I previously had it spread out over all the different L funds until I learned how the funds were allocated. So now I am in L 2050. Should I be there in my situation? Too risky, not balanced enough?

Outside of the TSP and the Schwab Roth IRA, I have about $15K cash in my savings account earning nothing. I rent a house, but I have been considering buying, but I am not ready for jumping into real estate where I live in Los Angeles. I am open to moving away from LA once my children graduate HS, but my youngest is still in 5th grade. I really don't have anyone to rely on but myself.

I hope that starting to pay attention NOW to how to save for my retirement will help prevent me from being a bag lady senior :embarrest:. I hope there is help for me to retire with a decent package.