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Is There Life After Retiring from the Federal Government? One Retiree’s Perspective
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Adjusting to Retirement
Defense Logistics Agency
Wed Mar 14, 2007 2:21 PM
Post Reply
I retired the 3rd of January 2007. I thought I was really prepared after 30+ years. I've always worked early hours. On my first day I was called at 6:50 a.m. It was hard saying to people hey I'm retired don't call so early, I'm practicing being retired.
My pay is still in an interim status. I had an estimate, which was not even close to what I expected, so my 1st check almost caused cardiac arrest.
I somehow had a problem keeping tract of my time. I finally started making a schedule of at least five things that I wanted to accomplish during the day. I have been doing real estate for the past 18 years.
I think overall I'm going to like this new style of life. I've managed my TSP pretty well. At some point I'm going to move my funds to something else. It is up to me to make me happy.
Retired Fed
NA
Wed Mar 14, 2007 3:41 PM
Post Reply
Steve - I really enjoyed your article and found myself relating to a lot of what you described. I too did not have a well-honed plan and have found that working as a retired Fed consultant has its ups and downs. I was very fortunate to land with GRA and meet up with so many good people like yourself. Thanks for sharing your thoughts -- I think they will be invaluable to many Feds contemplating retirement. All the best
Tim Dirks
Good article!
VA
Wed Mar 14, 2007 5:12 PM
Post Reply
There is a lack of retirement training at the VA where I worked for 20 years. At the most, there is a one-hour retirement seminar taugh twice a year. I am not exaggerating. Requests for help calculating anticipated retirement income, eligibility, etc. were not ever answered. There was one person to handle every detail of retirement, including all training, paperwork, and inquiries, for 2,500 employees, and it was only a part of her job description.
Retirement
DOD
Thu Mar 15, 2007 8:01 AM
Post Reply
I retired In June 2003 at age 58 with 34 years service (4-military, 30-civil service). My wife was still employed, she retired in May 2005 at age 55 from a university. For those two years, I took over running the house. Since her retirement, we have travelled (Alaska, Caribbean, Mexico, Belize, England, Ireland, Scotland, and Wales).
We both took advantage of IRAs; she invested in TIAA-CREF; and I invested in the TSP.
My agency sent me to a week long retirement seminar (on orders-all expenses paid) five years prior to my retirement eligibility.
When I retired, I RETIRED. Beside my federal career, I had worked another 8 years. So after 42 years, I had had enough. I have not worked since my retirement and I do not plan to work anymore.
My wife still teaches part-time at the university and we use that money for vacations. We still invest every month.
We planned and are now able to do what we want when we want.
Re: Retirement
Federal
Mon Mar 9, 2009 9:33 AM
Social Security
Navy
Thu Mar 15, 2007 8:48 AM
Post Reply
Can you address any possibilitiy of getting Social Security frm sponse if you are on the old system.
life after retirement
usda
Thu Mar 15, 2007 9:23 AM
Post Reply
Nice article. For about 2 years, I counseled employees and provide retirement estimates to employees. The first issue is always "Can I afford to retire ?". While the answer varies greatly, "income vs bills" is the main question. One thing I did tell those considering retirement was to get a detailed estimate of not only their CSRS or FERS, but also of their monthly income from their TSP account using the monthly income calculator at the TSP website. Also, if in FERS and under 62 yrs. old, get an estimate of the Special FERS Supplement (which can be difficult) One that works reasonably well is to look at your SSA statement and determine your annual SSA payments at 62 yrs. will be, divide it by 40 and multiply it times your years of FERS service. A lot of people panic, when they know their gross income is going to be reduced. They should look at bi-weekly take- home pay, adding in otional deductions, multiply by 26 and divide by 12 and comapre it with the above estimates.
Retirement?
USAF
Thu Mar 15, 2007 1:10 PM
Post Reply
Your article was overall very informative. Retired, I don't think so. You haven't changed much in my opinion but where you sit to do your work. You probably are making the same salary you made before, from the same people that paid you before. You are not the typical government retiree. You are having you cake and eating it too. Sounds like a government job with perks.