Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Struggling with calculators & pension ????'s
Old 05-30-2007, 12:24 PM   #1
Thinks s/he gets paid by the post
Fireup2020's Avatar
Join Date: Feb 2007
Posts: 1,186
Struggling with calculators & pension ????'s

I have run FireCalc forwards and backwards. I am still confused. Generally I get it, but there is a disparity as a result of an epiphany that occurred with discussing retirement with a close friend who is already retired. Is my brain just oversimplifying things? Here is the scenario:

At age 55 I will begin collecting a pension of 54.5% of my highest 12 mos of my salary.

At age 60 I will have an additional aprox. $1100/mo mil reserve pension. (today's dollars)

Both pensions are cola'd. Med ins. comes with both pensions and I am also eligible for and prefer the VA system.

I am currently socking away just under 43% of my income into retirement (TSP and Deferred comp) and MF funds.

Since I am "living" on merely 60% of my "income" today, with no intention of this rate changing, why would I not be able to live relatively comfortably on my pensions at that time - and only pull from the savings/investments for extras (extra travel, toys, etc)


Fireup2020 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-30-2007, 12:50 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
Join Date: Mar 2003
Posts: 15,910
Sounds OK to me. No reason to make it harder than it has to be.

"Neither my companion or I carry firearms on our persons. We depend on the goodwill of our fellow man and the forbearance of reptiles."

- English Bob
brewer12345 is offline   Reply With Quote
Old 05-30-2007, 02:06 PM   #3
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 39,198
Fireup, sounds to me like you're gold plated...and diamond studded! Step away from the calculator and enjoy life. You've got the financial side covered.
Numbers is hard.

Retired in 2005 at age 58, no pension

REWahoo is offline   Reply With Quote
Old 05-30-2007, 04:07 PM   #4
Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 2,155
Are you saying that Firecalc is not agreeing with you? What's the disagreement?
Sam is offline   Reply With Quote
Old 05-31-2007, 07:06 AM   #5
Full time employment: Posting here.
kaudrey's Avatar
Join Date: Feb 2006
Location: Alexandria, Va
Posts: 857
I agree with REWahoo. You'll be fine.

You are correct in your thinking. Sit back and relax!
kaudrey is offline   Reply With Quote
Old 05-31-2007, 07:38 AM   #6
Thinks s/he gets paid by the post
Fireup2020's Avatar
Join Date: Feb 2007
Posts: 1,186
Wow - thanks guys - I feel like I should really be more "involved" with "investments", etc (especially around this crowd!) - Since I don't have loads of $$$ in accounts to "see", or a specific dollar amount for the pensions, I felt like I was missing something. I'll just come to terms with my time being the biggest investment.
Fireup2020 is offline   Reply With Quote
Old 05-31-2007, 11:14 AM   #7
Recycles dryer sheets
Join Date: Dec 2006
Posts: 347
Fireup Run the advance Firecalc. If you know with a fair certanty what your annual expenses are just plug in the pensions/ss/account balances/decide the shape your portifilo should look like and use 2025 I'd guess as a retire date. If the numbers is where you want it be relax and enjoy!!!

USCG regulations say you have to go out. They don't say anything about coming back.
USK Coastie is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Military pension and pay - how much is it past 20 Average Joe FIRE and Money 13 03-18-2007 10:22 AM
Pension Time Bomb Article Mountain_Mike FIRE and Money 11 01-17-2006 06:49 AM
Europe struggling with pension issues Jay_Gatsby FIRE and Money 12 01-10-2006 09:32 AM
The Fat Pension newellcr Young Dreamers 34 07-26-2005 08:23 AM


All times are GMT -6. The time now is 01:01 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.