TangoMike's retirement story...

[TangoMike]

So I retired back in 3/2017 at 56.8yo and 30; sold back some mil time and punch out as a gs 13.7. I worked for the DoD in the balto/wa area save for 1 pcs tour to the UK. My agency has a large contractor base so the plan was to go contractor till 62yo. I'm almost 2.5 years into it and all is going well; I haven't tapped into my tsp and it is growing at a 4-5 % clip. I'm a nervous ninny and would stress out if i portioned it out to a more aggressive profile...so mostly g with a touch of c and 2030. I've been a long time stalker maybe 4 posts over the last 12 years, but now i'm coming out a little...i was one of the few folks back in 07 (I think) that got one of those infamous letters that identified me as making too many trades and I had to stop it! I'll be posting more regularly now compared to my old frequency so hope to get to know some of you better other than by the names and posts i've come to enjoy reading over the last 12 years or so! TM

 

[nnuut]

Welcome back TangoMike!!!

 

[nasa1974]

Welcome TangoMike

 

[ToddB]

Welcome back TangoMike!!


Sent from my iPhone using Tapatalk

 

[2moryrs]

Welcome! Retirement is great. I have been retired 10 years now and still figuring out that I don't need to wait for the weekends to go places!

I'm glad you kept your TSP account open. I cringe every time someone posts that they are going to pull out.

I don't have a big balance, but I don't have to use it as I was CSRS.

What is your investing strategy? :smile:

 

[TangoMike]

Hey 2mo--no specific strategy for me...still banging out a paycheck...but i get to double dip and the 401 is nicely matched so no complaints...i'm hoping not to touch or barely touch tsp in the later years..im taking ss at 62 no matter what...i have a few projects that will keep me busy for the first year of real retirement after that....maybe explore other interests that have been put aside for 30 years...

 

[TangoMike]

So I retired back in 3/2017 at 56.8yo and 30; sold back some mil time and punch out as a gs 13.7. I worked for the DoD in the balto/wa area save for 1 pcs tour to the UK. My agency has a large contractor base so the plan was to go contractor till 62yo. I'm almost 2.5 years into it and all is going well; I haven't tapped into my tsp and it is growing at a 4-5 % clip. I'm a nervous ninny and would stress out if i portioned it out to a more aggressive profile...so mostly g with a touch of c and 2030. I've been a long time stalker maybe 4 posts over the last 12 years, but now i'm coming out a little...i was one of the few folks back in 07 (I think) that got one of those infamous letters that identified me as making too many trades and I had to stop it! I'll be posting more regularly now compared to my old frequency so hope to get to know some of you better other than by the names and posts i've come to enjoy reading over the last 12 years or so! TM

UPDATE//Aug 2021//
So still contracting at 61yo may pull the chute at 62.5 cuz I want my SS now...b4 it's gone. TSP took a hit in covid but i've recovered losses but i lost a whole year of investing and now just a little ahead of where i was at in mar 2020 and paranoid that this market is a house of cards about to go to shite. my work ira's are doing great, so combining those two figures makes me feel good. i think my low iq math says that i should be able to use socsec and pension and withdraws from ira's and will be fine, allowing me not to touch my tsp. should have no mortgage, unless we buy that vacay home. i'm kinda of bum thou cuz i feel like i'm making major league mula, and really don't know if i can walk away from it, the flip side is i ain't getting any younger...and I would like to have some golden years b4 i pcs to the great beyond. later all.

 

[evilanne]

So how much money is enough? You can't take it with you when you "PCS to the Great Beyond." I like that expression.

 

[flalaw97]

Thanks for the update! I recently heard what I thought was good advice - have both husband and wife make a list (indepedently) of what they would like to do in retirement (both big things - trips and little day to day things) then get together and compare. Once you agree on what you want to do, then take a look at whether the finances can support it. If you wait too long, some of those things you may not be physically able to do (rowing and biking for my wife and I) so you might have to pull the chute sooner to ensure you are capable of enjoying/doing what you want. If your current calculations are that you don't have to touch your TSP, you might be closer than you think - the reason most people save in the TSP is to use it in retirement but some may be gathering it for a nest egg for their children so making that list is very different for each individual. Best of Luck!

 

[TangoMike]

UPDATE 8/13/2022---So I really think I'm gonna pull the cord next spring Apr 2023...turned 62yo last month. I was thinking this Dec, but with the recent down turn I figure one more quarter! Plus it will add to my socsec payment.
I AM NOT PLEASE WITH THE IDIOTIC MOVE TO A SUBPAR WEBSITE! Such a joke. Hoping to move down to coastal Carolina soon, but waiting for housing to chill. Hoping that the 2nd half is much better than the first half! Still only bout 15% C the rest is in G; I work with some folks that were just very unhappy w/ their losses...just don't need that kind of stress. Being down 200k/300k would make me sick everyday. Hopefully folks in that boat get made whole again! See you all in 2023!

 

[nasa1974]

hey TangoMike, Hopefully TSP gets their act together and it will be easy to transfer your funds to a different financial group. I'm looking to transfer all of my account mid-year next year. I'm just hoping to recover most of my losses. I'll be happy if I can be even with my high point from November of last year. I've been down six figures but not in the 200/300 range. Good luck.

 

[evilanne]

UPDATE 8/13/2022---So I really think I'm gonna pull the cord next spring Apr 2023...turned 62yo last month. I was thinking this Dec, but with the recent down turn I figure one more quarter! Plus it will add to my socsec payment.
I AM NOT PLEASE WITH THE IDIOTIC MOVE TO A SUBPAR WEBSITE! Such a joke. Hoping to move down to coastal Carolina soon, but waiting for housing to chill. Hoping that the 2nd half is much better than the first half! Still only bout 15% C the rest is in G; I work with some folks that were just very unhappy w/ their losses...just don't need that kind of stress. Being down 200k/300k would make me sick everyday. Hopefully folks in that boat get made whole again! See you all in 2023!

Agree about the website. Has me considering moving out of TSP when SEPP, 72(k) payments end.
Good luck on your retirement plans TangoMike
Happy Trails

 

[TangoMike]

hey nasa1974, did you transfer over to another account? how did that go?

tks
terry

 

[nasa1974]

hey nasa1974, did you transfer over to another account? how did that go?

tks
terry

I have not. I do plan on transferring everything by the end of summer. I have already talked to my financial advisor about it. Reading some of the issues other members have had I wanted to do some reading about what I will need to do. For sure it will happen this year because I need to have it all done before I turn 72 next year.
Thanks for asking. Once it's all done, I'll post about the experience.

 

[TangoMike]

I have not. I do plan on transferring everything by the end of summer. I have already talked to my financial advisor about it. Reading some of the issues other members have had I wanted to do some reading about what I will need to do. For sure it will happen this year because I need to have it all done before I turn 72 next year.
Thanks for asking. Once it's all done, I'll post about the experience.

I'm still researching but leaning towards transferring to another brokerage due to the inexcusable bs from the new tsp, I want to get my money out to a brokerage that has some semblance of competency.

good luck

tm

 

[TangoMike]

Agree about the website. Has me considering moving out of TSP when SEPP, 72(k) payments end.
Good luck on your retirement plans TangoMike
Happy Trails

Hi evilanne,

Did you move out of tsp? if so, how did that go? thanks, tm

 

[evilanne]

I still have 6 months to go before I reach 59.5. I might be able to do it sooner if I can make sure I get the RMD for this year by switching to fixed payments but I will leave some in TSP going forward. Not sure how much to take out at one time or if I should do that gradually. I did open a Fidelity account to play with as I think that is most cost effective way to transfer/roll over larger amounts of money than with a broker/financial advisor.