How do you compare to others at your station in life?

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mmmmmbeer
Posts: 917
Joined: Wed May 11, 2016 11:00 am

How do you compare to others at your station in life?

Post by mmmmmbeer »

One of the guys in a different thread mentioned being curious as to how he compares with others in his same age, rank, years to retirement bracket. Are we behind our counterparts? Are ahead?

I'll admit I too am very curious because for most of my early career I didn't pay attention to TSP too much as I really didn't have much to put in.

And I think we can all start by saying we're hopefully adult enough that we're not looking for a big D contest here, but rather actual comparisons to see where we are for ourselves.

So I'll start....

Age: 41
GS salary level: 14/04 LEO, (15/06 Regular Equivalent)
Current TSP balance: 198,369.11
Number of Years until PLANNED retirement: 9 until eligible, 16 mandatory (dunno when I'll go quite honestly )

I do get the Social Sec kicker at 50 as well as now the eligibility to withdraw from TSP at 50 with no penalty.

Most of my early career was at a much lower GS scale and I didn't put much in at all, and really didn't think too long and hard about it as we were just trying to make it as a young family. My wife and I both now max contribute and hope it will be enough when it's all said and done.

The bankrate chart puts me somewhere around 700k at 52 years old if I can average 7%.

My youngest child will only be a sophomore in HS when I'm 1st eligible, so I don't know what I'll do. I may wait for her to graduate.
Those who 'abjure' violence can do so only because others are committing violence on their behalf.

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Longstreet
Posts: 44
Joined: Mon Jun 17, 2013 10:39 am

Re: How do you compare to others at your station in life?

Post by Longstreet »

Hi mmmmmbeer, looks like you still have plenty of time to make some healthy gains before retirement!

My wife is currently a federal employee as well and we're following Jahbulon's seasonal strategy/election year strategy as discussed in Aitrus' threads. Hoping for a 12% + average over time but will be happy if we can make at least 5%-8%. Am curious to see how other younger federal employees are planning for retirement and to incorporate any lessons learned that those of you closer to retirement have for us.

Age: 27
GS salary level: 12
Current TSP balance: $44,000
Number of Years until PLANNED retirement: 35/36 (about age 63 or so for me).
Years in Federal Service: 5 (started on a 5-7-9-11 program and got my 12 in December)


Plan (without factoring in any promotions) has me netting about 40k a year from my pension plus TSP. I have no delusion about having any social security left as that third leg of my retirement so these along with whatever we can save/invest outside of work will be it.

At the moment we're both contributing 15% of our paychecks, I'm 100% roth and she is currently 100% traditional but planning to go roth soon as we both expect taxes to increase in one form or another by the time we retire. We'll be happy just to be able to live comfortably in retirement but we won't complain if we can break the million dollar mark either.

crondanet5
Posts: 4330
Joined: Tue Aug 19, 2008 8:51 pm

Re: How do you compare to others at your station in life?

Post by crondanet5 »

What is your life expectancy based on family history?

DogPyle71
Posts: 20
Joined: Sat Mar 05, 2016 11:10 am

Re: How do you compare to others at your station in life?

Post by DogPyle71 »

Age: 45
GS13/8 LEO
Current TSP Balance: $415,000
I plan to retire in five years at age 50. TSP projection has my balance in 5 years between $525-550K. I own a house in Silicon Valley so part of my retirement plan is to sell and use the money I make to buy a house outright in another part of the country or at least dramatically reduce my mortgage (I estimate I'll make 300-350K with 0% capital gains). If the housing bubble bursts I'll delay retirement. I'm also going to benefit from my FERS high 3 calculation factoring in Nor CA COLA. Fingers crossed it all goes according to plan.

Thanks for the great post to start the thread.

mmmmmbeer
Posts: 917
Joined: Wed May 11, 2016 11:00 am

Re: How do you compare to others at your station in life?

Post by mmmmmbeer »

crondanet5 wrote:What is your life expectancy based on family history?



Probably somewhere between 70-80
Those who 'abjure' violence can do so only because others are committing violence on their behalf.

mmmmmbeer
Posts: 917
Joined: Wed May 11, 2016 11:00 am

Re: How do you compare to others at your station in life?

Post by mmmmmbeer »

DogPyle71 wrote:Age: 45
GS13/8 LEO
Current TSP Balance: $415,000
I plan to retire in five years at age 50. TSP projection has my balance in 5 years between $525-550K. I own a house in Silicon Valley so part of my retirement plan is to sell and use the money I make to buy a house outright in another part of the country or at least dramatically reduce my mortgage (I estimate I'll make 300-350K with 0% capital gains). If the housing bubble bursts I'll delay retirement. I'm also going to benefit from my FERS high 3 calculation factoring in Nor CA COLA. Fingers crossed it all goes according to plan.

Thanks for the great post to start the thread.


Great post man... it really gives me a feel of where I'm at. I don't think we're to far off.

The TSP future growth calculator puts me at about $375k at age 45 with a 7% ave annual return for the next 4 years.

That property is fantastic for you man! Check out WA State... no income tax and a decent climate on the western end. You can buy a pretty beautiful property for $350k if you stay out of the city.

Thanks... :)
Those who 'abjure' violence can do so only because others are committing violence on their behalf.

mmmmmbeer
Posts: 917
Joined: Wed May 11, 2016 11:00 am

Re: How do you compare to others at your station in life?

Post by mmmmmbeer »

Longstreet wrote:Hi mmmmmbeer, looks like you still have plenty of time to make some healthy gains before retirement!

My wife is currently a federal employee as well and we're following Jahbulon's seasonal strategy/election year strategy as discussed in Aitrus' threads. Hoping for a 12% + average over time but will be happy if we can make at least 5%-8%. Am curious to see how other younger federal employees are planning for retirement and to incorporate any lessons learned that those of you closer to retirement have for us.

Age: 27
GS salary level: 12
Current TSP balance: $44,000
Number of Years until PLANNED retirement: 35/36 (about age 63 or so for me).
Years in Federal Service: 5 (started on a 5-7-9-11 program and got my 12 in December)


Plan (without factoring in any promotions) has me netting about 40k a year from my pension plus TSP. I have no delusion about having any social security left as that third leg of my retirement so these along with whatever we can save/invest outside of work will be it.

At the moment we're both contributing 15% of our paychecks, I'm 100% roth and she is currently 100% traditional but planning to go roth soon as we both expect taxes to increase in one form or another by the time we retire. We'll be happy just to be able to live comfortably in retirement but we won't complain if we can break the million dollar mark either.


Dude your starting out awesome... so much time left. Your going to kill it.
Those who 'abjure' violence can do so only because others are committing violence on their behalf.

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ArrieS
Posts: 1072
Joined: Sun Aug 05, 2012 10:56 am

Re: How do you compare to others at your station in life?

Post by ArrieS »

Age: 35

Medically retired from the Army with a Net Present value pension, based on my life expectancy, of: $1,256,378. Assuming an average 1% increase with 3% inflation, annually.

GS: 12/1 (started 9-11-12, just got my 12 in May)

TSP Balance: $32,455.66 Contributing 10%.

Roth IRA: $58,121.70. Contributing $5,500 annually.
Last edited by ArrieS on Sat Jul 09, 2016 6:24 pm, edited 2 times in total.
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sonofnthng
Posts: 273
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Re: How do you compare to others at your station in life?

Post by sonofnthng »

Age: 32
FERS (USPS)
TSP Balance: $41,695
Contributions 8% + 5% match = 13%
Years until PLANNED retirement: 26
Years until WITHDRAW: 28

3% annual rate of return = $328,841
6% annual rate of return = $525,286
12% annual rate of return = $1,456,382
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skiehawk11
Posts: 2116
Joined: Wed Jan 05, 2011 2:32 pm

Re: How do you compare to others at your station in life?

Post by skiehawk11 »

Age: 29
FERS
GS salary level: 13/01
Current TSP balance: over 50,000
Number of Years until PLANNED retirement: 35 (retire at 64 seems reasonable)
Years in Federal Service: 6 in September

mmmmmbeer
Posts: 917
Joined: Wed May 11, 2016 11:00 am

Re: How do you compare to others at your station in life?

Post by mmmmmbeer »

sonofnthng wrote:Age: 32
FERS (USPS)
TSP Balance: $41,695
Contributions 8% + 5% match = 13%
Years until PLANNED retirement: 26
Years until WITHDRAW: 28

3% annual rate of return = $328,841
6% annual rate of return = $525,286
12% annual rate of return = $1,456,382


Good question, I can't remember, but it looks as though we have one on here that figures it in.

http://tspcenter.com/calculator.php
Those who 'abjure' violence can do so only because others are committing violence on their behalf.

Venge
Posts: 82
Joined: Fri Feb 05, 2016 5:15 am

Re: How do you compare to others at your station in life?

Post by Venge »

Age: 40
I am a LEO. Been in Gov about 15 years. Have about 200k. I did not contribute Max cause when your a FED in DC, you're poor so max contribution was hard. Now, I do max. Also, I used a non L plan strat. Today I know better and incorporate a plan between timboslice with more S fund and EBB. We'll see how it pans out. I'm shooting for minimum 7%, but would be happy with anything over 12%

Also, on a separate note I have 2 Roth IRAs non GOV, a life insurance plan to double as a second tsp and a 529k plan for my daughter. Always gotta cover yourself. Don't just depend on tsp

crondanet5
Posts: 4330
Joined: Tue Aug 19, 2008 8:51 pm

Re: How do you compare to others at your station in life?

Post by crondanet5 »

Venge is your life insurance plan an annuity thingie or whole life policy?

crondanet5
Posts: 4330
Joined: Tue Aug 19, 2008 8:51 pm

Re: How do you compare to others at your station in life?

Post by crondanet5 »

mmmmm. When you say 70-80 that's a lot of years. Average male life expectancy is currently 76, but I expect it will drop with the increase in drug overdoses, suicides, and more highway deaths. You have to work hard to beat the odds. Exercise, diet, weight control, minimize alcohol. It all counts toward life expectancy.

mmmmmbeer
Posts: 917
Joined: Wed May 11, 2016 11:00 am

Re: How do you compare to others at your station in life?

Post by mmmmmbeer »

crondanet5 wrote:mmmmm. When you say 70-80 that's a lot of years. Average male life expectancy is currently 76, but I expect it will drop with the increase in drug overdoses, suicides, and more highway deaths. You have to work hard to beat the odds. Exercise, diet, weight control, minimize alcohol. It all counts toward life expectancy.


I mean thats my total life expectancy. I'll probs die between 70-80 yrs old. So if I retire at 50, that gives me 20-30 years.
Those who 'abjure' violence can do so only because others are committing violence on their behalf.

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