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2 1/2 months until I get my KMA Degree
Old 05-30-2008, 08:02 PM   #1
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2 1/2 months until I get my KMA Degree

That's KMA Degree, as in Kiss My A**. I will be eligible to retire in mid-August, when I turn 55. Unfortunately, eligible and afford are located in different parts of the dictionary. Right now my son is in college and I will keep working until he is a bit closer to graduation. It is a little easier to take because as a Federal employee under the old CSRS Retirement Plan, my retirement is based upon my high three years of salary and I got a big raise a year & 1/2 ago. So my projected retirement dates are either Jan. 1, 2010, or Dec. 31, 2010. Both are optimum retirement dates under CSRS Retirment Plan.

Our plan for retirement is to sell our house, located inside the Beltway, and build a Green home on the five acres of land we bought a few years ago. It is located on a ridgetop overlooking the Shenandoah Valley.
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Old 05-30-2008, 08:18 PM   #2
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Our plan for retirement is to sell our house, located inside the Beltway, and build a Green home on the five acres of land we bought a few years ago. It is located on a ridgetop overlooking the Shenandoah Valley.

Sounds like about what we did. Cashed in, got out. Only our house was about five miles outside the Beltway.

No more traffic jams! Yay!
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Old 05-30-2008, 10:21 PM   #3
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Very cool. Congrats and all the best in your new field!
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Old 05-31-2008, 03:29 AM   #4
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Welcome and Congrats
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Old 05-31-2008, 07:35 AM   #5
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Jaybones, Contrats on the "KMA Degree". Even though you are not in a position to get out right now, it is liberating to be eligible. As a fellow Northern Virginia resident, I understand your desire to put some distance between you and the beltway. I've spent years commuting on that highway and took early retirement from my federal govt job last January. My husband will join me in retirement in about 10 months. We are looking to relocate in the Culpeper, VA area. We like the feel of the place plus have some good friends out there.

The Shenandoah Valley is beautiful and I'm sure knowing you have those 5 acres will sustain you until can make the big escape from Club Fed. I would be interested in hearing more about the green home you plan to build. This is gaining in popularity, but I must confess I don't know much about the subject.
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Old 06-03-2008, 08:14 AM   #6
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After I get my KMA Degree, I will become what my brother-in-law called a "Three-Day Guy." Three bad days in a row and I am out of here!!!

As far as a new field, I plan on getting a part time job at a bookstore in order to earn my last few Social Security credits, so that I will be eligible for Social Security when I turn 62. After all, I have worked for the Feds since I was 19 years old. It will be reduced by the so-called Windfall Elimination Program, but something is better than nothing. Besides I can wander around a bookstore for a couple hours before I realize the time. So I might as well get paid for it.

My other plan is to get a job at Walmart; contact the United Food and Commercial Workers Union; start a union organizing campaign; Walmart will fire me for that; then when the union finally wins before the National Labor Relations Board, I will collect all my back pay and get my Social Security credits without having to work for it.
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Plans Change
Old 08-08-2008, 07:54 AM   #7
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Plans Change

Well, as of tomorrow, I will be eligible to retire. However, as I said, "Plans change." My son just told us that he wants to change colleges and majors, which will postpone his graduation by about a year. Since I want to do my best to help him graduate from college with as little debt as possible, I will probably postpone my retirement.

I really can't complain because 2 years ago he was doing a lot of drugs and drinking a lot of alcohol. Now he is talking about switching from a Professional Pilot major to Mechanical Engineering with a "Green Technology" emphasis. Life is good, even with an extra year before retirement. After what we went through with our son, getting to where we are now, I am more than willing to work a little longer. Besides my retirement benefits will increase by quite a bit because of the extra year on the job.
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Old 08-10-2008, 11:25 AM   #8
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Now he is talking about switching from a Professional Pilot major to Mechanical Engineering with a "Green Technology" emphasis.
Very good call going away from the pilot career. I know from personal experience.

It's in a downward spiral and is not a good career choice now IMO. Pay continues to be depressed and it's just not glamorous as it used to be.

The green engineering choice is a good one and is something I'll probably be encouraging my son to pursue in a few years when he graduates high school.

Good luck to you.
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Old 08-10-2008, 12:44 PM   #9
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Congrats on your membership in the KMA club! I am state employee, but also in the KMA club. Like you there is difference between between "eligible to retire" and "afford to retire." However, I found that reaching "eligible" made a world of difference in my attitude. Since I no longer feel "trapped" I don't sweat the small stuff the way that I used to. Life is good!
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Old 10-07-2009, 02:39 PM   #10
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Well, plans change. I was looking at retiring sometime next year. However the part of the Federal Agency where I work is overstaffed and exceeds the number in the budget. So in order to get down to the right number, they are offering Voluntary Separation Insentive Payments, which is Fed Speak for Buy Outs. As a result, they will pay me $25,000 for retiring a few months early. So I am going to take the money and run!
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Old 10-07-2009, 03:02 PM   #11
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Great! The only thing better than retiring is getting paid to leave. Congratulations!
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Old 10-07-2009, 07:16 PM   #12
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Well, plans change. I was looking at retiring sometime next year. However the part of the Federal Agency where I work is overstaffed and exceeds the number in the budget. So in order to get down to the right number, they are offering Voluntary Separation Insentive Payments, which is Fed Speak for Buy Outs. As a result, they will pay me $25,000 for retiring a few months early. So I am going to take the money and run!
i went to junior high in falls church many years ago when falls church was in the country not the city...
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Old 10-07-2009, 07:23 PM   #13
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Well, plans change. I was looking at retiring sometime next year. However the part of the Federal Agency where I work is overstaffed and exceeds the number in the budget. So in order to get down to the right number, they are offering Voluntary Separation Insentive Payments, which is Fed Speak for Buy Outs. As a result, they will pay me $25,000 for retiring a few months early. So I am going to take the money and run!
Welcome to the forum and congrats on your VSIP offer. If you have a choice about when you retire, and haven't already been told this, there are better times of year to retire so your tax hit on the VSIP is lower. I don't pretend to understand the details, but your personnel specialist will. I remember several CSRS folks at my former w*rkplace (fed agency) timing their retirement date for tax reasons. Maybe someone here will be able to chime in.
Good luck!
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Old 10-08-2009, 11:54 AM   #14
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Freebird,

If I had more flexibility, I would time my retirement for tax purposes. However, part of this deal is that in order to get the Buy Out I have to be out the door by November 7th. November 3rd is the best date for CSRS retirement between now and then. So that's the day I am out the door.
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Old 10-08-2009, 06:08 PM   #15
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Freebird,

If I had more flexibility, I would time my retirement for tax purposes. However, part of this deal is that in order to get the Buy Out I have to be out the door by November 7th. November 3rd is the best date for CSRS retirement between now and then. So that's the day I am out the door.
Full speed ahead...Aye aye Cap'n.

So how many "in the office" days is that ? Public countdowns are allowed.
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Old 10-13-2009, 03:56 PM   #16
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So in order to get down to the right number, they are offering Voluntary Separation Insentive Payments, which is Fed Speak for Buy Outs.
Incentive Payments? Or Insensitive Payments?!
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