RetireAt80
Confused about dryer sheets
Last year I graduated with my masters in accounting with no debt and about $10k in savings. I got a government job at GS-9 (~$47k) which goes to GS-11 (~$57k) after a year, which is exactly today. All future grade promotions have to be earned.
With one year on the job, my current assets are:
$20k cash
$5k roth (sitting in cash as I anticipate a market drop- dumb idea?)
$4k TSP
Spending over the last year was about $20k.
I have only been doing 5% in my TSP while I increase my cash savings, but due to the raise I plan to increase that to 22.7% ($500 per pay period) before my next paycheck. I considered maxing it out but decided to wait another year or two for that. I have contributions set to go 1/3 each into the C, S & I funds. I have zero interest in the hassles and restrictions of home ownership, nor do I think it's the amazing investment most people seem to think. However, entrepreneurship has always fascinated me, and I dabbled in college.
I don't see myself ever fully retiring until health requires it. My post-polio grandpa worked full-time until 70, part-time until almost 80, and not out of necessity. I feel I've been given so many advantages in life that I have a need to give away a substantial amount. ESR with fewer hours and lots of vacation time by the government retirement of 57 would be nice though. I think I should be able to retire on either a pension if I stay in government work, or the real interest on my savings, both supplemented by part time work, and give away the rest.
I've read a lot of the old threads over the last couple weeks. I'll probably lurk here semi-regularly but rarely post.
That's me. I don't know what advice I need, but feel free to give it.
With one year on the job, my current assets are:
$20k cash
$5k roth (sitting in cash as I anticipate a market drop- dumb idea?)
$4k TSP
Spending over the last year was about $20k.
I have only been doing 5% in my TSP while I increase my cash savings, but due to the raise I plan to increase that to 22.7% ($500 per pay period) before my next paycheck. I considered maxing it out but decided to wait another year or two for that. I have contributions set to go 1/3 each into the C, S & I funds. I have zero interest in the hassles and restrictions of home ownership, nor do I think it's the amazing investment most people seem to think. However, entrepreneurship has always fascinated me, and I dabbled in college.
I don't see myself ever fully retiring until health requires it. My post-polio grandpa worked full-time until 70, part-time until almost 80, and not out of necessity. I feel I've been given so many advantages in life that I have a need to give away a substantial amount. ESR with fewer hours and lots of vacation time by the government retirement of 57 would be nice though. I think I should be able to retire on either a pension if I stay in government work, or the real interest on my savings, both supplemented by part time work, and give away the rest.
I've read a lot of the old threads over the last couple weeks. I'll probably lurk here semi-regularly but rarely post.
That's me. I don't know what advice I need, but feel free to give it.