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Re: Which job to pick?
Old 03-09-2006, 06:09 PM   #41
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Re: Which job to pick?


Quote:

The Feds"
+/-
Don't count on the Fed retirement program staying the same as it is today. The retirement program looks like the private sector 401(k) - you aren't boxed in by CSRS.

Are you saying that the government is going towards a retirement plan that is similar to a 401k?
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Re: Which job to pick?
Old 03-09-2006, 06:23 PM   #42
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Re: Which job to pick?

Dang, 23 and making 60k! My title is also "systems engineer", but I'm in system security, also for a contractor. I don't make that much more than that and I'm 31. I do live in San Diego, however, and I've been told I can make more in your neck of the woods. In fact, I have a standing offer for a 25% raise if I move there. I'm just a little too addicted to San Diego at this point (more to the point, DW is).

Ya, pay your parents rent. When I was 22, I was living with my grandma, paid her ~$300 a month so I wasn't a mooch. Funny, when I moved out, she said, "boy, that worked really well, I'm thinking of putting out a room for rent ad!" - I explained to her a guy who wasn't her grandson may not be so curteous....
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Re: Which job to pick?
Old 03-09-2006, 06:39 PM   #43
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Re: Which job to pick?

Quote:
Originally Posted by geeman
Are you saying that the government is going towards a retirement plan that is similar to a 401k?
The program for hires after 1983 is known as FERS.* You are in Social Security, there is a modest annuity, and they have a Thrift Savings Plan (known as TSP) much like a 401k.* TSP is very cost efficeint.

For more information link to:* http://www.opm.gov/retire/html/retirement/fers.html
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Re: Which job to pick?
Old 03-09-2006, 07:50 PM   #44
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Re: Which job to pick?

If he starts paying his parents rent, don't they have to report it as rental income?
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Re: Which job to pick?
Old 03-09-2006, 07:53 PM   #45
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Re: Which job to pick?

Does anyone see any problems with the TSP program? If I sock tons of $$$ into this account, I don't want the government to pull a fast one on me.
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Re: Which job to pick?
Old 03-09-2006, 08:10 PM   #46
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Re: Which job to pick?

One thing to be careful of, when accepting a job offer and then backing out, is that you don't want to get a reputation as a flake. This may not be a concern, unless you work in a specialized/niche industry, but you don't want to do it over and over again. You're young so you can get away with it...but it's something to remember for the future...you never know when the ass you kick today may be connected to the feet you have to kiss tomorrow.
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Re: Which job to pick?
Old 03-09-2006, 08:13 PM   #47
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Re: Which job to pick?

Quote:
Originally Posted by geeman
I don't want the government to pull a fast one on me.
Come on! They're from the government! They're here to help you!
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Re: Which job to pick?
Old 03-09-2006, 08:22 PM   #48
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Re: Which job to pick?

Quote:
Originally Posted by Cute n' Fuzzy Bunny
Come on! They're from the government! They're here to help you!
Is this a joke?
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Re: Which job to pick?
Old 03-09-2006, 11:01 PM   #49
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Re: Which job to pick?

The money you put in the Thrift Saving Program, and the match, is your's.* The program is excellant.* Stack the max in TSP (or a 401k if that is what your employer offers).* Most young workers feel that they need all their earnings to meet current needs and can't do that.* Not true, what you don't see you won't miss.

When I spoke of changes know that the match could change in the future, or the calculation on the annuity could change (from 3-yr average to 5-yr average, for example).

Any $ you give your parents for your room and board is not income to them, you are simply paying your share of the household expenses.* If they gift it back to you at a later date that isn't a taxable event unless the $$$$ are substantial (they should check the then current tax code if it is over $10,000).
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Re: Which job to pick?
Old 03-10-2006, 12:05 PM   #50
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Re: Which job to pick?

Quote:
Originally Posted by geeman
I'm 23.* No wife or kids right now.* I'm actually still living with my parents* * *
Dude, please tell me that has enabled you to save a sh*t-ton of $$$, and you haven't spent it.
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Re: Which job to pick?
Old 03-10-2006, 12:28 PM   #51
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Re: Which job to pick?

Well, I got the government job today. $54,000 a year. I passed on job # 2. I can't wait to start socking $$$ away in my TSP.
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Re: Which job to pick?
Old 03-10-2006, 12:44 PM   #52
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Re: Which job to pick?

Quote:
Originally Posted by geeman
Well, I got the government job today.* $54,000 a year.* I passed on job job#.
I assume you meant to write that you passed on job #1, and accepted the government job (#2). If so, congratulations!
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Re: Which job to pick?
Old 03-10-2006, 12:58 PM   #53
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Re: Which job to pick?

Now move to DC and land a date with Miss Barbara Bush
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Re: Which job to pick?
Old 03-10-2006, 01:25 PM   #54
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Re: Which job to pick?

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Now move to DC and land a date with Miss Barbara Bush
That would be one heck of a bar tab.
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Re: Which job to pick?
Old 03-10-2006, 03:58 PM   #55
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Re: Which job to pick?

Geeman, here is an example of how deals can change even for Fed retirees:


House Republican leaders announced there will be no floor action on their version of fiscal 2007 Budget Resolution until after the March 20-24 District Work period.* However, on March 8th the 100 member Republican Study Committee released a five year plan to balance the budget.* Among items in the RSC’s 74-page plan is a proposal offered last year, as part of Operation Offset, to require future retirees with less than 30 years of service to pay higher Federal Employees Health Benefits Program (FEHBP) premiums.* Specifically, for each year less than 30 years, new annuitants would have to pay 2 percent more of their FEHBP premium costs.* (The RSC document is posted at: http://www.house.gov/pence/rsc/doc/RSC_2007_BUDGET.doc* The FEHBP provision appears in the Health section, pages 49-53.* Prospectively “tenure- testing” FEHBP premiums is estimated to save $1.67 billion over five years.)






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Re: Which job to pick?
Old 03-13-2006, 11:05 AM   #56
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Re: Which job to pick?

I'm sure if the government premiums increased, the private sector will soon follow.
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Re: Which job to pick?
Old 03-13-2006, 11:10 AM   #57
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Re: Which job to pick?

Quote:
Originally Posted by Brat
Geeman, here is an example of how deals can change even for Fed retirees:
Gman, the take home from this should be to max out your TSP and save some additional cash besides. There are few problems that can't be solved by a sufficient amount of time or money. You've got #2, make sure you take care of #1.
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Re: Which job to pick?
Old 03-13-2006, 11:19 AM   #58
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Re: Which job to pick?

#1 just called me and they want to know why I didn't take that position. I told them I decided to stay with my current employer.
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Re: Which job to pick?
Old 03-13-2006, 11:24 AM   #59
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Re: Which job to pick?

Quote:
Originally Posted by geeman
#1 just called me and they want to know why I didn't take that position.* I told them I decided to stay with my current employer.
The problem with having done so is that the world is a very small place, and your little white lie may come back to haunt you. You could have just told job #1 that you took another position that was offered to you.
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Re: Which job to pick?
Old 03-13-2006, 11:27 AM   #60
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Re: Which job to pick?

I'd say it's not a lie. Simply misrepresentation by omission. Gman IS staying with his current employer. Until he takes job # 2, that is!



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