What would you do?

General TSP Discussion.

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idaho1
Posts: 51
Joined: Mon Jun 06, 2016 1:08 pm

What would you do?

Post by idaho1 »

Age 58 - approx 36 years FERS credit - $750K in TSP - GS 11 - no debt - kids grown - Wife plans to work till age 62 as a RN - both in good health - total assets approx $1M. Having a hard time with committing to another year but also can't commit to retirement. Following Clapper seasonal. Good people on this forum, please give me your advice.

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Snapdragon
Posts: 247
Joined: Tue Jan 29, 2013 5:26 pm

Re: What would you do?

Post by Snapdragon »

I am definitely not in your boat. My husband is thinking about retiring very soon, but we have little kids. Not sure what your hobbies are and how you guys like to spend money, but it sounds like financially you are good to go. Time to look at seasonal or part time work to occupy you so you can feel better about retiring. I would imagine it would be very hard to go from full time job to nothing. At least my husband can be a busy stay at home dad, but still a huge mental change. You set yourself up well, but now to need to figure out what retirement life looks like so you can let go. :-) Good Luck

gary markh
Posts: 8
Joined: Sat May 27, 2017 9:20 am

Re: What would you do?

Post by gary markh »

You should already be retired! Go get a job somewhere outside of the government if you want to keep working.

dougabn
Posts: 4
Joined: Tue May 23, 2017 11:48 am

Re: What would you do?

Post by dougabn »

If you enjoy what your doing, keep working at least until the wife retires, no reason to sit at home and watch the paint peel. If you don't enjoy what your doing, retire and find another job (does not have to be a paid position, volunteer at your church, local hospital or other organization). You've set yourself up well to have lot's of choices.

klee
Posts: 51
Joined: Sun Sep 17, 2017 2:35 pm

Re: What would you do?

Post by klee »

I would work or volunteer part-time. I have to keep my body and mind busy or I would go insane.

Retired56
Posts: 10
Joined: Thu Jul 28, 2016 12:35 pm

Re: What would you do?

Post by Retired56 »

Life is good after retirement. No regrets with FERS pension and supplement. Don't plan to use any of my investments or TSP until mid-60's. I stay busy with new home and taking care of my father. Just have a plan when you retire to stay active and spend more time with family and friends.

texdel
Posts: 1
Joined: Mon Oct 02, 2017 1:23 pm

Re: What would you do?

Post by texdel »

idaho1 - Sounds like you have planned well. If I were you...I would work until I'm 60. Live on FERS, TSP, and start SS as close to 70 as possible. That will maximize your benefit and your wife's survivor benefit if you pass before her. Stay busy with your hobbies and have structure in your life.
Best wishes!

sparky1
Posts: 18
Joined: Tue Oct 21, 2014 9:36 am

Re: What would you do?

Post by sparky1 »

If you like to work find another job but retire from the government. You've been working for peanuts staying there. Once I was eligible I retired. 30 years at 56.

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evilanne
Posts: 2067
Joined: Thu May 14, 2015 6:52 pm

Re: What would you do?

Post by evilanne »

idaho1 wrote:Age 58 - approx 36 years FERS credit - $750K in TSP - GS 11 - no debt - kids grown - Wife plans to work till age 62 as a RN - both in good health - total assets approx $1M. Having a hard time with committing to another year but also can't commit to retirement. Following Clapper seasonal. Good people on this forum, please give me your advice.
Only you can figure out the problem with "committing" to retirement? Many people fall into the one more year syndrome. What would it take for you to take the plunge? How much net worth do you need to make you feel secure about retirement? What does your wife think you should do?

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mjedlin66
Site Admin
Posts: 1569
Joined: Wed Oct 02, 2013 7:51 pm

Re: What would you do?

Post by mjedlin66 »

Retire!
Owner/creator of TSPcalc.com - "Know your numbers"

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onerepmax
Posts: 138
Joined: Tue Aug 08, 2017 9:29 am

Re: What would you do?

Post by onerepmax »

If i were in your shoes, I'd retire today and tour this great land on a motorcycle.

Josiedog
Posts: 48
Joined: Sat Feb 14, 2015 9:01 pm

Re: What would you do?

Post by Josiedog »

Wow, tuff choice. I'm 58 and ready too but my kids are seniors and ready to start college. If you can retire, then retire; if you want to think about it some more, wait and see what Congress does with the Social Security Supplement. They may eliminate it this year. With 36 years, you can get 90% (years/40) of your Social Security until you turn 62, then you get your SS and not the supplement.

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harpole
Posts: 146
Joined: Wed Mar 22, 2017 9:25 am

Re: What would you do?

Post by harpole »

You have a "high-quality problem". I'd retire and enjoy/annoy those kids as much as possible.
Never underestimate the true intentions and overreach of the regime.
Less Government, More Freedom!

Baywatch
Posts: 10
Joined: Fri Jun 23, 2017 4:27 pm

Re: What would you do?

Post by Baywatch »

Retired56 wrote:Life is good after retirement. No regrets with FERS pension and supplement. Don't plan to use any of my investments or TSP until mid-60's. I stay busy with new home and taking care of my father. Just have a plan when you retire to stay active and spend more time with family and friends.


I like this answer!

klee
Posts: 51
Joined: Sun Sep 17, 2017 2:35 pm

Re: What would you do?

Post by klee »

onerepmax wrote:If i were in your shoes, I'd retire today and tour this great land on a motorcycle.


Did you get this idea from GEICO commercial for GEICO motorcycle? :wink: He saved bunch of money on his motorcycle insurance with GEICO.

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