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Cobra9777 · 05-18-2016, 02:02 PM

Quote:

Originally Posted by W2R

...All I want to know, is how you feel about it...

I'm feeling a lot better about our financial position compared to 3 years ago when I retired. DW decided to keep working. So the nestegg and, more significantly, her pension continue to grow. Once she retires (supposedly end of this year), our pensions and rentals will cover 75% of expenses, which is ~100% of non-discretionary. Dividends from the taxable account cover most discretionary. This is all pre-SS and pre-RMDs. However, we are still spending about 30-35% less than what i-ORP, FIRECalc, etc say we can safely spend. So, I guess I'm feeling better, but not enough to loosen the purse strings beyond current levels.

GolfingDuo · 05-18-2016, 04:09 PM

It has been a while since I have been here and one of the first threads I see is a great one. This one. My answer is I have a bit more than I actually need. Back when I first came here I didn't have a handle on what I had. It was here and in another forum that allowed me to come to grips with what I would have in retirement.

I came here worried about my job because every two years I go through what is called a qualitative retention board. I was a soldier in the national guard and worked full time for them as a FERS technician. I think somewhere on this thread is a post I did on FERS retirement that I hope people have found helpful.

Well last year while on vacation I got the call that I had been dreading that I would not be retained and my last day would be 30 September 2015. A few things ran across my mind. I had been thinking that I had done all I could do and that because I had letters written in my behalf for the retention board to consider in my behalf I would be okay. Well it happened that they decided that this nearly 58 year old man had served enough and they wanted my rank and position for someone younger.

You civilians can argue that it is age discrimination and it is except that I don't work for a private company. So I am put to the side. I had not even a leg to stand on because I reached MRA (minimum retirement age) and had 30+ years under my belt. In fact it turns out that I have just over 36 years. So with their obligations to me fulfilled and I can take a pension all be it small I could not argue even that part. My office did get me 6 months extra because of an important project I was involved in would be completed in that time and they needed me.

So here I am today. Unemployed and collecting a partial pension and drawing on my retirement account. I am 58.5 and have started periodic withdrawals in accordance to 72t IRSC. In 15 months I will get my entire pension and should be in good financial standing. My home will be paid off and every calculator tells me that my retirement plan has a near perfect outcome. I thank those here for that firecalc program that helped me develop my plan.

I am having a financial planner help us develop it more and put together a formal plan. I have a very good FP who is not advocating me move money from my accounts to his company's funds. In fact it is the opposite and his fee for advice is a whopping $500 annually. We will provide him with additional business and that is another story but we are very happy with him.

We are not wealthy by many standards but we are not poor either. We have income that both of us can live on above and beyond SS which we will take at different times. We are nearly the same age DW is 58 and I am 58.5. Our plan is for DW to file at 62 and I will file at FRA 66.5. If it is available at that time she may suspend and take spousal until 70 on the do over provision. We are not counting on that so......

I do feel good about being retired. I have applied for unemployment which in my state will be 30 weeks even though I have a pension I will just get a little less than I would otherwise.

W2R · 05-18-2016, 04:34 PM

GolfingDuo, welcome back to the forum and congratulations on your retirement! Even though it was somewhat forced upon you, in a sense, still I feel certain that with your great attitude you will find that this is the best possible turn of events. For most of us, retirement is so much fun and it sounds to me like you have the financial aspects figured out. I predict much golfing and happiness in your future.