Readers' Comments
Total Comments: 21
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Confessions of a Federal Retiree
Total Comments: 21
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| Close | Change | YTD | |
| G | $12.7463 | +0.0008 | +0.04% |
| F | $12.5956 | +0.0340 | +0.12% |
| C | $10.4853 | -0.3174 | +0.49% |
| S | $12.3632 | -0.4115 | +1.28% |
| I | $14.3592 | -0.2050 | +0.73% |
| Close | Change | YTD | |
| L 2040 | $12.5675 | -0.2638 | +0.63% |
| L 2030 | $12.6930 | -0.2335 | +0.55% |
| L 2020 | $12.9186 | -0.1958 | +0.47% |
| L 2010 | $13.8674 | -0.1008 | +0.25% |
| L Income | $12.8084 | -0.0642 | +0.19% |
January 8, 2009
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TSP
DOT
Mon Aug 11, 2008 8:50 AM
Post Reply
In 45 days I will decide whether to go into "L Income" or hand it over to a financial planner along with a 1 - 2% fee. The L fund seems ok however I notice Congress (D-NJ) is starting to play politics with the money employees earned and saved. Also, the planner has shown me the ups and downs but from the long perspective the diversified investment beats inflation. His concern is not policial correctness, it is getting me and my family a solid rate of return. There may be a year when I take less out because the fund went down and years when there is an abundance. Tax rates will help determine what I pull out.
After having a heart attack I never have been in this good physical shape. I am taking less medications and control of my health. Why didn't I do this 25 years ago?
Re: TSP
DOI - Bureau of Land Management
Mon Aug 11, 2008 11:19 PM
Do you know the cost of that 1% fee? Based on $10,000 invested at an 8% return for 30 years, that 1% fee will cost you $21,500 (instead of $87,500 you end up with $66,000). Even though fees seem small they clobber your returns. That's why the TSP is a good deal.
Re: TSP
DOI - Bureau of Land Management
Mon Aug 11, 2008 11:24 PM
Do you know the cost of that 1% fee? Based on $10,000 invested at an 8% return for 30 years, that 1% fee will cost you $21,500 (instead of $87,500 you end up with $66,000). Even though fees seem small they clobber your returns. That's why the TSP is a good deal.
Response to Article
District Court
Mon Aug 11, 2008 9:36 AM
Post Reply
Good column. It is good to hear from some one living through this. First had knowledge is always the best advice. I'll be looking for follow up articles.
Retirement
Retired
Mon Aug 11, 2008 10:12 AM
Post Reply
Nearly 3 years ago, I retired--hoping to make more money as a contractor.
So far, it has worked out very well: I was able to make about what I made before, and when the pension is added on top of that...
Still, I have no (zero) job security, and if for any reason I can't work, I can't afford to support myself and family. (I could move to a lower cost of living area, or make up the difference with my savings for a few years.)
I have no regrets, but it is all something of a roll of the dice. It could have worked out differently. It still might. But, for now, things are great!
Retirement
DON
Mon Aug 11, 2008 10:24 AM
Post Reply
This is a great article and it is always good and enjoyable to learn from others experience, be it good or bad. The best advice I can offer is to do your homework...get an annuity calculation, if nothing more than a ballpark figure. Enroll in preretirement training early so you can make mid-career corrections if necessary. Even if you think you can't afford to contribute to TSP, I say "you can't afford not to". And whatever you think you want to do in retirement, start doing it now so you can decide if that is really what you want to do when you no longer have to punch a clock. Travel - start early while you are physically able to do so. Even if you are as healthy as a horse, you will find you may not have the stamina you believe you have. If you can't afford long, overseas trips, start with some closer to home. Remember the Bucket List movie? Make your bucket list. I once read a book on finance that said people don't plan to fail, they fail to plan. Work, play, and do plan!
All-round excellent articles
None
Mon Aug 11, 2008 10:35 AM
Post Reply
Steve--I've not met you in person, but have been thoroughly impressed with the value and professionalism of your previous articles, as well as the obvious candor and sincerity of this one. I hope your recent run of bum luck has come to an end, and that all goes exceptionally well for you for a long, long time. Dennis
Retirement travel
National Park Service
Mon Aug 11, 2008 12:10 PM
Post Reply
I will soon retire as well and plan on traveling both outside and inside the U.S. This will include going back to Boston where Steve and I met at a Sound Conference. With the market in the dumps and my TSP, what is the best advice for paying for travel and keeping it cheap? Is South America generally cheaper than Europe?
Re: Retirement travel
AF
Mon Aug 11, 2008 12:49 PM
Happy to be cruising our retirement away
US Dept of Justice
Mon Aug 11, 2008 12:19 PM
Post Reply
Wise advice!
We are mindful of the need to "live our dream, not dream our life" in retirement and decided to retire onto a large sailing catamaran. In the
year and a half since early retirement at 61, we have navigated the Intra-Coastal Waterway (ICW) the length of the Eastern Seaboard. We have been saving money while doing so!
We elected to sell most of our "stuff" and our house, and have been truly living a dream. Guided by a spiral bound volume of a federal retiree who did it for 14 years, we are having a ball. If you are interested at all, we recommend you check Amazon or another source for Cruising Comfortably On A Budget. It has all the wisdom and advice that Skipper Bob and his first mate Elaine could pack into 189 pages of their spiral bound publication in living aboard exclusively.
We have yet to explore the Caribbean, but will do so later this year after hurricane season passes. You may contact me at EDKELLY (AT) NETINS.NET if you have any questions. EFK