Psychiatric Social Worker Dept of Veterans Affairs Wed Mar 14, 2007 8:45 AM
I retired in early January after 23 years of service at the VA. I had a small pension from the VA and had contributed to the TSP and had two IRA's. I am 60 and had planned to work another six or seven years.
I noticed that most people who retired were either sick, angry or both. I was neither and it came to me that I should quit while I was ahead.
I spend my time taking college courses and doing volunteer work in two Elementary schools. I enjoy what I am doing and feel my decision to retire under the above circcumstances was one of the best decisions of my life.
Steve B.
Retirement
Special Projects Coordinator USDA-Rural Development Wed Mar 14, 2007 10:11 AM
Thank you so much Steve for the candid article. I am looking at early retirement and am reluctant - have no plan but know I want to work at something. I enjoyed your article and am printing it for my husband to read. Thanks again!!
Retirement/working at home
Contracting Officer NAVAIR Wed Mar 14, 2007 10:18 AM
Well written and the injected humor makes me want to read more of the perils and pleasures of retirement. As a 55 yr old baby boomer with 30 years under my belt, and who is not an upwardly mobile job hopper but has enjoyed the stability of a few good positions, the transition to the afterlife of retirement is somewhat worrisome and your experiences help with things one needs to consider. Thanks.
Rank has its privileges
Investigator DOL Wed Mar 14, 2007 10:46 AM
Mr. Opperman is very fortunate in that he was so high in the food chain that he was able to make a job for himself in his agency before he retired. Why should he be advising the typical government employee anyway since he is nothing but atypical. Ninety-nine percent of us aren't so fortunate. We can't create a job for ourselves before we leave the government so when we leave we are out with our "gold watch".
Re: Rank has its privileges
Supervisor dod Wed Mar 14, 2007 3:45 PM
I know of several rank and file employees who were able to find fullfilling jobs after retirement. Being high in the food chain had nothing to do with their situations, it's not a prerequisite as the good Investigator is inferring.
Re: Rank has its privileges
HRS DOI Thu Mar 15, 2007 10:57 AM
I agree with the DOD supervisor - rank is not what determines who were are or what we can accomplish. Each person chooses there destiny and how well they will live throughout their lives.
Re: Rank has its privileges
Old Fed DoD Wed Jul 8, 2009 5:46 PM
Four decades of Government employment, and a few years in the private sector, have shown me that the idea that management people does not primarily look out for others of the same description is either incredibly naive or patently self-serving. Even when ethics are irreproachable, people tend to value the kinds of things they personally do or have done, and managers tend to be the ones making staffing decisions.
I do not have a dog in this fight, so can afford to be completely objective concerning my observations in this matter.
HRO preparation
Training Instructor DOD Wed Mar 14, 2007 11:31 AM
I am eligible to retire, having met the minimum age and years, but I cannot afford the pay cut yet with a son still in college. I recently attended a two and one-half day seminar (at my own cost and use of annual leave) where the true experts on all things Federal addressed the issues of planning and finance. This is in direct contrast with the nine hours provided by our installation, which presents the bare bones of LTC, financial planning (presented by a certified financial planner with an interest in new clients), and Social Security benefits. I submitted a request for payment to my Division Head, which was denied. I feel the cost was worth it, but there is mass ignorance among our employees about this life changing decision. My planning is going well, but I know many retirees who are working out of necessity rather than preference. The planning and knowledge should start early on in one's career, and I believe that the HRO should do more to disseminate the knowledge.
retirement prep
Analyst DON Wed Mar 14, 2007 1:35 PM
Good article. With over 30 years under my belt, I've learned that the mid-retirement counseling offered in the gov't happens too late. It should be mandated at new employee check-in, and again closer to retirement. Instead, we let employees root around on the internet, dial 1-800 numbers for help, and let them do retirement calculations on EBIS, assuming they even know how to. There is no personal assistance...no warm, breathing body to help. Not everyone has access to a computer and others don't even know where to start. Even the retirement paperwork is daunting. Not to mention that new employees (some, not all) are so overwhelmed when they start, they just don't understand FERS and the importance of TSP. Don't get me started. I've attended HR sponsored retirement counseling but had I known what I learned when I attended, I would have asked to attend at the beginning of my career so what investments I made could have had time to perform better. I was told no money for training
Good Article - Thanks
retired civil engineer usfs Wed Mar 14, 2007 2:11 PM
After all that, sounds like you made the right decision! One better, as you well know now, is that hand slap you needed when you were tempted to go for the "cookie jar". I'm not talking chocolate chip, but the urge to better (i.e. more aggressively invest) that TSP cache. Not only did you unwisely invest in stocks but you removed that 401k tax shelter/deferment! You expressed the truth that if your both a social creature and derive self-worth out of what you do best, retirement can be both liberating and a continuence of of who you are, and profitable too! I'm with you.
Adjusting to Retirement
Retiree Defense Logistics Agency Wed Mar 14, 2007 2:21 PM
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
HR Consultant NA Wed Mar 14, 2007 3:41 PM
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!
retired editor VA Wed Mar 14, 2007 5:12 PM
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
Retired DSS Special Agent DOD Thu Mar 15, 2007 8:01 AM
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 Employee Federal Mon Mar 9, 2009 9:33 AM
I am just curious, since you stated you and your wife have been investing, how are things going now? In March of 2009......?
Social Security
Retired BFM Navy Thu Mar 15, 2007 8:48 AM
Can you address any possibilitiy of getting Social Security frm sponse if you are on the old system.
life after retirement
hr specialist usda Thu Mar 15, 2007 9:23 AM
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?
Traffic Management Specialist USAF Thu Mar 15, 2007 1:10 PM
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.
Author's response to reader comments
HR Consultant GRA, Inc. Fri Mar 16, 2007 8:48 AM
As soon as one of my articles is published, I typically move on to other articles, responding only to those readers who e-mail me directly.
However, I read all of the excellent comments under the "Discuss Article" feature this time, which made me realize that I need to do that from now on.
I greatly appreciate all of the positive comments and was glad to see that a number of readers enjoyed my "life after retirement" article. I will attempt to respond in follow-up articles to as many as possible of the questions that you raised. I will, however, be referring readers to appropriate sources of information on the technical financial questions, since I simply don't possess that knowledge.
I readily admit that my "soft landing" as a contractor is not the typical situation that awaits Federal retirees. However, since my 6+-year stint with the National Park Service ended, I have operated as a "true" consultant, with all of the ups, downs & uncertainties that profession entails..
warning- early retirement
Non-Professional Engineer DoS Fri Mar 16, 2007 2:21 PM
I'm glad everything worked out for Steve Opperman. But I now of several cases where this didn't work out. One early retiree found himself with too much spare time, and that's when his drinking became excessive. He died less than two years after retiring. Staying on the job would have curbed his consumption of alcohol and extended his life. In other cases, the job (daily routine, work, and people) are so much part of ones life, that retirement only means problems. It's not uncommon to have 70-85 year olds doing contract work in the same office to avoid the problems retirement brings on. And some couples find themselves at ends when they are forced to spend more time together, not only on weekends, but during each day of the week. So please consider these factors before you sign your retirement papers. The big questions remains: How will you occupy all that spare time after retiring?
Unfair GPO bill
Medical Administrative Assistant Department of Veteran Affairs Tue Mar 20, 2007 9:18 AM
I retired at the age of 62 from the Federal Government. I did find out how much my pension would be but I also thought that I would be able to get my ex-husband's Social Security and with that I could make it.
Lo and behold, I fell under that very unfair bill known as Government Pension Offset and ended up only receiving my civil service pension which placed me in a bad financial situation making it hard for me to take care of my basic needs. With the health problems that I have I am unable to work also.
I would advise anyone who is planning to retire to find out all the facts before doing so.
TSP and financial advisor - oh oh
HR specialist USDA Mon Apr 9, 2007 2:32 PM
A close colleague of mine retired from Uncle Sam. He and his wife met with a financial planner to discuss their retirement funds. The planner recommended they take their money froom TSP and let him invest. Well, long story short - that was a mistake. My friends hard earned advice - leave your $ in TSP. My 2 cents :)
possible retirement
management assistant IRS Mon Aug 11, 2008 9:09 AM
I had my retirement figured last year and it was not very much, especially after mandutory deductions.
I just figures it according to what in out there on HR and it comes up a lot more that what they provided to men.
Something is wrong with their calculation.
I have asked for it to be recalcuated and I need to know how much I would get with my over a year sick leave added and what deductions would be. Total take home pay.
I have yet to receive that. That figure will determine if I want to stay here longer. Also when I leave I will loose the ability to draw my soc sec, and will most likely not have enough to pay the medicare b which I am being advised I will need to take. Now with that my pay will be cut quite a bit and I am just a grade 7 with 30 + years. Where is the fairness in this to take away the soc sec when many of us have worked under the soc sec before we came to work for the government.
Thanks
Retirement
Paralegal DOT Mon Aug 11, 2008 2:17 PM
I really enjoyed reading this article. I'm some times thinking of retirement - but have no hobbies or plans. I also need to find out about a financial planner who can give me instrucitons on what and how to distribute my 401 plan.
I would also have a hard time to work from home - not very disciplined.
Thanks for all this information
Re: Retirement
Federal Employee Federal Mon Mar 9, 2009 9:38 AM
Did you read the previous statements/replies??? Leave it alone, leave it in the TSP!!! Hope I am not too late.
Thankful for your insight
Wes Wynn, Inventory Mgt. Fed. Bureau Of Prisons Mon Aug 11, 2008 9:59 PM
I am about 3 1/2 years out from retirement, I'll have 20 BOP and 8 military, for a total of 28 years. It is a bit scary and exciting as my time approaches. I must admit the excitment out weighs the scary part. I appreciate the comments from Mr. Oppermann, they are indeed very helpful. Great when you read an article that speaks directly to you. Keep em coming.
Retirement Info (response)
Wes Wynn, Inventory Mgt. Fed. Bureau Of Prisons Mon Aug 11, 2008 10:33 PM
After reading some of the above comments it appears that we, as in all Gov. employees are in the same boat. Or another way to put it is that while we, in the government float on different vessels, when we retire we're basically in the same boat.
And while that boat will never be a yacht it, with proper planning it can be more than a canoe. Our agency, like most others, a few years ago required us to do more of our own planning. This includes but is not limited to insurance needs, withholding as well as our retirement needs. But the trouble is, is that most of us, no matter what your job, it's a constant struggle to stay afloat, due to shortages and cutbacks, which is pretty much the Gov. way.
So, where do we find time to devote to all these very important issues before it's to late. There are no easy answers here, I would just have to agree with several of the other comments above. It's your life, your future, your retirement. Get the answers anyway you can get them.
Ignorance or Financial Excuberance
Management Analyst Civil Service Wed Mar 18, 2009 1:21 PM
This guy is part smart-part dunb. It is obivious he was a top excutive (wife probably worked also). I had a year to decide on earily retirement. So, I crunched the numbers and decided to combine my Military time with my Civil Service time. Over the years it has increased my retirement cosiderably. I also had one year to become debt free--which we did. We did not travel the world -- i already did in the Air Force. Instead, we vist our out-of-state children. ANY financial decision has to be weight carefully. I also rolled my Thrift Savings into the Stock market. But, I was conservitive (and smart). Thank goodness he still has a retirement, abiet small.
YEP...SURE IS!!!!!!!!!
RETIRED RETIRED BOP Tue May 19, 2009 8:59 AM
Yes, there is life after retirement and plenty of it folks!!!
Actually, its when you real life starts!! All of those to do things and personal interest you never had time for will be at your fingertips. Health clubs, reading books, travel..you can have it all. The big keys are Planning and patient bargin hunting. You can work at a 40 hour a week job..or not. I chose not. I work part time and its so nice. So get ready, set, plan..and say adios to the stresses of that current work week. RETIREMENT IS AND CAN BE BEAUTIFUL!!!!
My Retirement
former Assistant Solicitor Dept of the Interior Tue May 19, 2009 10:42 AM
I retired in 2002 at age 64 after 39 years of Federal service. I remember some panic on my first day of retirement -- what do I do now? Fortunately I had signed up to do volunteer work which carried me through the first few months. I also signed up at a health club and I have continued my daily workouts. I find the gym relaxing and I have met some great people. Like Steve I work for GRA Inc. and pick up a variety of consulting jobs. I have done EEO training, misconduct investigations and grievance resolution work. I have much more time to travel and my wife and I have taken some fabulous trips. I delayed retiring because of the fear of the unknown. When I think back it is the best decision I've made. I am under the old CSRS so I have a steady pension which is supplemented by my consulting work. I do have to travel to downtown D.C. on my consulting jobs but this makes me appreciate the days I work from home even more. It's like a vacation with pay. I recommend it highly.
Retirement perspective from lower income emp.
Heavy Equipment Operator Bureau of Land Mgmt. DOI Tue May 19, 2009 3:50 PM
I am a 64 yr. old govt. employee with 25 yrs. service. I am thinking about retirement. I would like to see an article in your newsletter about retirement from a lower income retiree. All the articles I have seen are from higher income office employees.
Retirement Date
Financial Analyst HUD Wed Jun 24, 2009 10:41 AM
I don't have a comment but was thinking when will be a good time for me to retire. I was employed on June 16,1985, and was born in 1942. If I retire by the end of next year I will have 25 +years. Is December 31, 2010 a good time to retire? I am currently earning appr. $100,000/yr. What dollars amount I am looking at if I retire that day. Is there any other date better? in such a way I will earn more retirement money.
Please response thru email. Thank you.
Evelyn 415-489-6588
Retirement Counselling
Logistics Manager USAF Tue Jul 7, 2009 1:48 PM
I just attended a retirement seminar, and learned I unnecessarily paid 6k to buy back my military time, but didn't have to, due to my Soc. Security status, and that I can't get a refund. The Government, as it trashed Civil Service, to become the "Corporate retired military/contractor entity" it has become, has failed us miserably. No one in his right mind should fill out their retirement paperwork without a highly qualified retirement counselor at their side. I hate to think of all the mistakes being made due to faulty information.
Re: Retirement Counselling
Renovation Manager Dept Of the Navy Fri Nov 6, 2009 11:31 AM
Unless you did not ever plan to retire from Govt service I know of no one that did not think it wise not to pay back the military time to get service credit, it is a win-win to pay it back. I paid mine back and it increased my retirment time by 7 years. Instead of retiring with 33 years of fereral service I had 40 yeras and 12 days.....
MY LIFE AFTER RETIREMENT
VISUAL INFO SPEC (RETIRED) DoD Tue Oct 13, 2009 11:29 AM
After I slept for about 3 weeks...I volunteered for the ACLU. I also took tax classes at H&R Block, and did tax preparer work for 3 seasons to finish paying into my Social Security. After that..I worked as a volunteer tax preparer for the IRS along w/other Jackson-Hewitt and Block tax preparers. We did tax returns for low-income Senior Citizens. I lasted as a volunteer investigator w/the ACLU for about a year. I had no idea what awful situations persons find themselves in...with no real source of help. Many of these that sought the help of the ACLU were government workers. It was the most stressful work I ever did. I tried to volunteer for the Peace Core...but found at the time..they would not take DoD retirees. THEIR LOSS!!!
Retirement
Retired Paralegal with Social Security SSA Wed Oct 14, 2009 9:35 AM
I retired 5 years ago and have never regretted it! I was 58 with 34 years service. When I retired, I RETIRED! Why retire if you plan on getting another job? If you really want to work, stick with what you are doing. I have traveled and enjoyed many activities which I wasn't able to do while working. I LOVE IT! I retired early enough so that I was physically able to do all the things I had planned on. I had several friends that waited too long to retire and didn't live to enjoy it. Life is too short - have fun!
Retirement
Dept of Veterans Affairs
Wed Mar 14, 2007 8:45 AM
I retired in early January after 23 years of service at the VA. I had a small pension from the VA and had contributed to the TSP and had two IRA's. I am 60 and had planned to work another six or seven years.
I noticed that most people who retired were either sick, angry or both. I was neither and it came to me that I should quit while I was ahead.
I spend my time taking college courses and doing volunteer work in two Elementary schools. I enjoy what I am doing and feel my decision to retire under the above circcumstances was one of the best decisions of my life.
Steve B.
Retirement
USDA-Rural Development
Wed Mar 14, 2007 10:11 AM
Thank you so much Steve for the candid article. I am looking at early retirement and am reluctant - have no plan but know I want to work at something. I enjoyed your article and am printing it for my husband to read. Thanks again!!
Retirement/working at home
NAVAIR
Wed Mar 14, 2007 10:18 AM
Well written and the injected humor makes me want to read more of the perils and pleasures of retirement. As a 55 yr old baby boomer with 30 years under my belt, and who is not an upwardly mobile job hopper but has enjoyed the stability of a few good positions, the transition to the afterlife of retirement is somewhat worrisome and your experiences help with things one needs to consider. Thanks.
Rank has its privileges
DOL
Wed Mar 14, 2007 10:46 AM
Mr. Opperman is very fortunate in that he was so high in the food chain that he was able to make a job for himself in his agency before he retired. Why should he be advising the typical government employee anyway since he is nothing but atypical. Ninety-nine percent of us aren't so fortunate. We can't create a job for ourselves before we leave the government so when we leave we are out with our "gold watch".
Re: Rank has its privileges
dod
Wed Mar 14, 2007 3:45 PM
Re: Rank has its privileges
DOI
Thu Mar 15, 2007 10:57 AM
Re: Rank has its privileges
DoD
Wed Jul 8, 2009 5:46 PM
I do not have a dog in this fight, so can afford to be completely objective concerning my observations in this matter.
HRO preparation
DOD
Wed Mar 14, 2007 11:31 AM
I am eligible to retire, having met the minimum age and years, but I cannot afford the pay cut yet with a son still in college. I recently attended a two and one-half day seminar (at my own cost and use of annual leave) where the true experts on all things Federal addressed the issues of planning and finance. This is in direct contrast with the nine hours provided by our installation, which presents the bare bones of LTC, financial planning (presented by a certified financial planner with an interest in new clients), and Social Security benefits. I submitted a request for payment to my Division Head, which was denied. I feel the cost was worth it, but there is mass ignorance among our employees about this life changing decision. My planning is going well, but I know many retirees who are working out of necessity rather than preference. The planning and knowledge should start early on in one's career, and I believe that the HRO should do more to disseminate the knowledge.
retirement prep
DON
Wed Mar 14, 2007 1:35 PM
Good article. With over 30 years under my belt, I've learned that the mid-retirement counseling offered in the gov't happens too late. It should be mandated at new employee check-in, and again closer to retirement. Instead, we let employees root around on the internet, dial 1-800 numbers for help, and let them do retirement calculations on EBIS, assuming they even know how to. There is no personal assistance...no warm, breathing body to help. Not everyone has access to a computer and others don't even know where to start. Even the retirement paperwork is daunting. Not to mention that new employees (some, not all) are so overwhelmed when they start, they just don't understand FERS and the importance of TSP. Don't get me started. I've attended HR sponsored retirement counseling but had I known what I learned when I attended, I would have asked to attend at the beginning of my career so what investments I made could have had time to perform better. I was told no money for training
Good Article - Thanks
usfs
Wed Mar 14, 2007 2:11 PM
After all that, sounds like you made the right decision! One better, as you well know now, is that hand slap you needed when you were tempted to go for the "cookie jar". I'm not talking chocolate chip, but the urge to better (i.e. more aggressively invest) that TSP cache. Not only did you unwisely invest in stocks but you removed that 401k tax shelter/deferment! You expressed the truth that if your both a social creature and derive self-worth out of what you do best, retirement can be both liberating and a continuence of of who you are, and profitable too! I'm with you.
Adjusting to Retirement
Defense Logistics Agency
Wed Mar 14, 2007 2:21 PM
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
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
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
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
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
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
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.
Author's response to reader comments
GRA, Inc.
Fri Mar 16, 2007 8:48 AM
As soon as one of my articles is published, I typically move on to other articles, responding only to those readers who e-mail me directly.
However, I read all of the excellent comments under the "Discuss Article" feature this time, which made me realize that I need to do that from now on.
I greatly appreciate all of the positive comments and was glad to see that a number of readers enjoyed my "life after retirement" article. I will attempt to respond in follow-up articles to as many as possible of the questions that you raised. I will, however, be referring readers to appropriate sources of information on the technical financial questions, since I simply don't possess that knowledge.
I readily admit that my "soft landing" as a contractor is not the typical situation that awaits Federal retirees. However, since my 6+-year stint with the National Park Service ended, I have operated as a "true" consultant, with all of the ups, downs & uncertainties that profession entails..
warning- early retirement
DoS
Fri Mar 16, 2007 2:21 PM
I'm glad everything worked out for Steve Opperman. But I now of several cases where this didn't work out. One early retiree found himself with too much spare time, and that's when his drinking became excessive. He died less than two years after retiring. Staying on the job would have curbed his consumption of alcohol and extended his life. In other cases, the job (daily routine, work, and people) are so much part of ones life, that retirement only means problems. It's not uncommon to have 70-85 year olds doing contract work in the same office to avoid the problems retirement brings on. And some couples find themselves at ends when they are forced to spend more time together, not only on weekends, but during each day of the week. So please consider these factors before you sign your retirement papers. The big questions remains: How will you occupy all that spare time after retiring?
Unfair GPO bill
Department of Veteran Affairs
Tue Mar 20, 2007 9:18 AM
I retired at the age of 62 from the Federal Government. I did find out how much my pension would be but I also thought that I would be able to get my ex-husband's Social Security and with that I could make it.
Lo and behold, I fell under that very unfair bill known as Government Pension Offset and ended up only receiving my civil service pension which placed me in a bad financial situation making it hard for me to take care of my basic needs. With the health problems that I have I am unable to work also.
I would advise anyone who is planning to retire to find out all the facts before doing so.
TSP and financial advisor - oh oh
USDA
Mon Apr 9, 2007 2:32 PM
A close colleague of mine retired from Uncle Sam. He and his wife met with a financial planner to discuss their retirement funds. The planner recommended they take their money froom TSP and let him invest. Well, long story short - that was a mistake. My friends hard earned advice - leave your $ in TSP. My 2 cents :)
possible retirement
IRS
Mon Aug 11, 2008 9:09 AM
I had my retirement figured last year and it was not very much, especially after mandutory deductions.
I just figures it according to what in out there on HR and it comes up a lot more that what they provided to men.
Something is wrong with their calculation.
I have asked for it to be recalcuated and I need to know how much I would get with my over a year sick leave added and what deductions would be. Total take home pay.
I have yet to receive that. That figure will determine if I want to stay here longer. Also when I leave I will loose the ability to draw my soc sec, and will most likely not have enough to pay the medicare b which I am being advised I will need to take. Now with that my pay will be cut quite a bit and I am just a grade 7 with 30 + years. Where is the fairness in this to take away the soc sec when many of us have worked under the soc sec before we came to work for the government.
Thanks
Retirement
DOT
Mon Aug 11, 2008 2:17 PM
I really enjoyed reading this article. I'm some times thinking of retirement - but have no hobbies or plans. I also need to find out about a financial planner who can give me instrucitons on what and how to distribute my 401 plan.
I would also have a hard time to work from home - not very disciplined.
Thanks for all this information
Re: Retirement
Federal
Mon Mar 9, 2009 9:38 AM
Thankful for your insight
Fed. Bureau Of Prisons
Mon Aug 11, 2008 9:59 PM
I am about 3 1/2 years out from retirement, I'll have 20 BOP and 8 military, for a total of 28 years. It is a bit scary and exciting as my time approaches. I must admit the excitment out weighs the scary part. I appreciate the comments from Mr. Oppermann, they are indeed very helpful. Great when you read an article that speaks directly to you. Keep em coming.
Retirement Info (response)
Fed. Bureau Of Prisons
Mon Aug 11, 2008 10:33 PM
After reading some of the above comments it appears that we, as in all Gov. employees are in the same boat. Or another way to put it is that while we, in the government float on different vessels, when we retire we're basically in the same boat.
And while that boat will never be a yacht it, with proper planning it can be more than a canoe. Our agency, like most others, a few years ago required us to do more of our own planning. This includes but is not limited to insurance needs, withholding as well as our retirement needs. But the trouble is, is that most of us, no matter what your job, it's a constant struggle to stay afloat, due to shortages and cutbacks, which is pretty much the Gov. way.
So, where do we find time to devote to all these very important issues before it's to late. There are no easy answers here, I would just have to agree with several of the other comments above. It's your life, your future, your retirement. Get the answers anyway you can get them.
Ignorance or Financial Excuberance
Civil Service
Wed Mar 18, 2009 1:21 PM
This guy is part smart-part dunb. It is obivious he was a top excutive (wife probably worked also). I had a year to decide on earily retirement. So, I crunched the numbers and decided to combine my Military time with my Civil Service time. Over the years it has increased my retirement cosiderably. I also had one year to become debt free--which we did. We did not travel the world -- i already did in the Air Force. Instead, we vist our out-of-state children. ANY financial decision has to be weight carefully. I also rolled my Thrift Savings into the Stock market. But, I was conservitive (and smart). Thank goodness he still has a retirement, abiet small.
YEP...SURE IS!!!!!!!!!
RETIRED BOP
Tue May 19, 2009 8:59 AM
Yes, there is life after retirement and plenty of it folks!!!
Actually, its when you real life starts!! All of those to do things and personal interest you never had time for will be at your fingertips. Health clubs, reading books, travel..you can have it all. The big keys are Planning and patient bargin hunting. You can work at a 40 hour a week job..or not. I chose not. I work part time and its so nice. So get ready, set, plan..and say adios to the stresses of that current work week. RETIREMENT IS AND CAN BE BEAUTIFUL!!!!
My Retirement
Dept of the Interior
Tue May 19, 2009 10:42 AM
I retired in 2002 at age 64 after 39 years of Federal service. I remember some panic on my first day of retirement -- what do I do now? Fortunately I had signed up to do volunteer work which carried me through the first few months. I also signed up at a health club and I have continued my daily workouts. I find the gym relaxing and I have met some great people. Like Steve I work for GRA Inc. and pick up a variety of consulting jobs. I have done EEO training, misconduct investigations and grievance resolution work. I have much more time to travel and my wife and I have taken some fabulous trips. I delayed retiring because of the fear of the unknown. When I think back it is the best decision I've made. I am under the old CSRS so I have a steady pension which is supplemented by my consulting work. I do have to travel to downtown D.C. on my consulting jobs but this makes me appreciate the days I work from home even more. It's like a vacation with pay. I recommend it highly.
Retirement perspective from lower income emp.
Bureau of Land Mgmt. DOI
Tue May 19, 2009 3:50 PM
I am a 64 yr. old govt. employee with 25 yrs. service. I am thinking about retirement. I would like to see an article in your newsletter about retirement from a lower income retiree. All the articles I have seen are from higher income office employees.
Retirement Date
HUD
Wed Jun 24, 2009 10:41 AM
I don't have a comment but was thinking when will be a good time for me to retire. I was employed on June 16,1985, and was born in 1942. If I retire by the end of next year I will have 25 +years. Is December 31, 2010 a good time to retire? I am currently earning appr. $100,000/yr. What dollars amount I am looking at if I retire that day. Is there any other date better? in such a way I will earn more retirement money.
Please response thru email. Thank you.
Evelyn 415-489-6588
Retirement Counselling
USAF
Tue Jul 7, 2009 1:48 PM
I just attended a retirement seminar, and learned I unnecessarily paid 6k to buy back my military time, but didn't have to, due to my Soc. Security status, and that I can't get a refund. The Government, as it trashed Civil Service, to become the "Corporate retired military/contractor entity" it has become, has failed us miserably. No one in his right mind should fill out their retirement paperwork without a highly qualified retirement counselor at their side. I hate to think of all the mistakes being made due to faulty information.
Re: Retirement Counselling
Dept Of the Navy
Fri Nov 6, 2009 11:31 AM
MY LIFE AFTER RETIREMENT
DoD
Tue Oct 13, 2009 11:29 AM
After I slept for about 3 weeks...I volunteered for the ACLU. I also took tax classes at H&R Block, and did tax preparer work for 3 seasons to finish paying into my Social Security. After that..I worked as a volunteer tax preparer for the IRS along w/other Jackson-Hewitt and Block tax preparers. We did tax returns for low-income Senior Citizens. I lasted as a volunteer investigator w/the ACLU for about a year. I had no idea what awful situations persons find themselves in...with no real source of help. Many of these that sought the help of the ACLU were government workers. It was the most stressful work I ever did. I tried to volunteer for the Peace Core...but found at the time..they would not take DoD retirees. THEIR LOSS!!!
Retirement
SSA
Wed Oct 14, 2009 9:35 AM
I retired 5 years ago and have never regretted it! I was 58 with 34 years service. When I retired, I RETIRED! Why retire if you plan on getting another job? If you really want to work, stick with what you are doing. I have traveled and enjoyed many activities which I wasn't able to do while working. I LOVE IT! I retired early enough so that I was physically able to do all the things I had planned on. I had several friends that waited too long to retire and didn't live to enjoy it. Life is too short - have fun!