Stoplight's Retirement Story (FERS, Gap in Service, Military Buy-Back)

[uscfanhawaii]

...... today was another milestone in my retirement...I applied for "early" Social Security benefits today !!! :smile: They say that's part of the "3-legged stool" of Fed retirement...FERS pension, TSP, and Social Security. I crunched the numbers, and decided NOT to wait...not sure the budget could take the hit of the FERS SS Supplement going away in a few months...
Interesting that my SS, at age 62, will be ~ $795/month MORE than my FERS Supplement was...a nice raise !!! (emphasis added)
Stoplight...

Thanks for the update SL!
Especially interesting is the increase in SS over Supplement. They always said that the Supplement would be lower than the amount of SS at 62.....but almost $800 more a month! Wow, that is significant.
But mostly, I am just jealous that you were able to retire before 62, and get the Supplement!
Congratulations (again) and enjoy the trip! :arms:

 

[Stoplight]

Enjoy the trip to the countries down under! My ex-wife and I went there back in 2015 and LOVED it. We only stayed in Sydney for 2 weeks, but it was the trip of a lifetime!

Maui,

Thanks for the feedback !!! We'll be in Sydney for 3 nights on the in-bound leg...then heading out to places around Australia ! Have another 3 nights there on the way back...

I hope to post some pix, etc in my "Vacation" thread !!!


Stoplight...

 

[Stoplight]

Thanks for the update SL!
Especially interesting is the increase in SS over Supplement. They always said that the Supplement would be lower than the amount of SS at 62.....but almost $800 more a month! Wow, that is significant.
But mostly, I am just jealous that you were able to retire before 62, and get the Supplement!
Congratulations (again) and enjoy the trip! :arms:

THANKS, USCFan !

I gotta admit...I was a little surprised at the difference, too...did NOT expect that big of a difference !!! ...and I can vouch for it...IF you can retire before 62, DO IT !!!! Assuming you're READY to retire !!! I was....

Just FYI....My FERS SS supplement was $1,110....SS at age 62 is projected at $1,905...go figure !!! IF this all works out per the numbers, I'll be a happy camper !!!!


Stoplight...

 

[burrocrat]

please take pics of uluru.

it is a vortex, a giant space magnet rock. i once rented an apartment in oregon from an aussie native who married a soldier and became a citizen, way way back, during some trying times. she did me many favors more than one, she had wisdom, we had good talks. she told me about camping there and the long drive and even gave me an old wooden camp stool she sat on around the fire.

so i would appreciate some pics of the rock, thanks.

 

[Stoplight]

please take pics of uluru.

it is a vortex, a giant space magnet rock. i once rented an apartment in oregon from an aussie native who married a soldier and became a citizen, way way back, during some trying times. she did me many favors more than one, she had wisdom, we had good talks. she told me about camping there and the long drive and even gave me an old wooden camp stool she sat on around the fire.

so i would appreciate some pics of the rock, thanks.

Burro,

Interesting story !!! We WILL post some pix of the Rock, for sure !!! Ummm...you can get pix of Uluru on the web, that are probably WAY better than anything we'll take !!! :smile: OTOH, we'll be sure to post some stuff...perhaps the crude pix from amateurs will be more meaningful to you !!!

One of our interests when we travel is learning more about the "native" culture...perhaps we can share some of what we learn...



Stoplight...

 

[dhstdog]

Burro,

Interesting story !!! We WILL post some pix of the Rock, for sure !!! Ummm...you can get pix of Uluru on the web, that are probably WAY better than anything we'll take !!! :smile: OTOH, we'll be sure to post some stuff...perhaps the crude pix from amateurs will be more meaningful to you !!!


One of our interests when we travel is learning more about the "native" culture...perhaps we can share some of what we learn...




Stoplight...

Thanks for the info SL. Glad to see your Healthy and Happy! God Speed!

 

[Stoplight]

All,

So I got my very first SS check deposited today !!! WOO HOO !!!

My FERS pension check on I May was reduced by the supplement, but my SS check today made up for it, and more, per the numbers I mentioned previously !!!

The Wife said : "Does it make you feel "old" ?"

I said : "No, it makes me feel like I'm FINALLY getting a return on that investment, for all those years !"

The BIG issue now for us is deciding what to do with the Wife's County Health Insurance, AND tax withholding !!!

She got her new Medicare card, with enrollment in Part B, along with the deduction from her SS check. She said "It makes me feel old !!!" Her County insurance drops in cost, and becomes secondary to Medicare, but from all the number-crunching I can do, it's STILL a better deal than picking her up on my FEHB Plan, OR buying a Medicare Supplement Plan !!! We'll see how this plays out...

RE: taxes ? That's been a pain !!! My new FERS pension amount dropped the "OPM withholding" a LOT, and her reduction in her SS check reduced it again...I didn't withhold anything from my SS check (yet !), because it's only done by a fixed percentage...with your FERS OPM withholding, you can specify the exact dollar amount !!!

I crunched the numbers (again !) and reset my OPM FERS withholding, so that (hopefully !) should bring me close to a zero amount of Fed tax owed or refunded...will monitor it as the year progresses !!!


Stoplight...

 

[konakathy]

Don't bother crunching numbers...just go spend it! See the world! "Money's like manure, it needs to be spread around!" :laugh::nuts:

 

[Stoplight]

Don't bother crunching numbers...just go spend it! See the world! "Money's like manure, it needs to be spread around!" :laugh::nuts:

LOL !!! I FIGURED you'd be the one who responded !!! Can't help it...I'm an Engineer !!!

...but I hear ya !!!

Enjoy your upcoming trip to China !!!


Stoplight...