gattara
Recycles dryer sheets
[FONT="]Hi everyone. I've been a lurker here for many years. It’s a favorite forum and I have gained knowledge here that has enhanced our lives … from Netflix videos to travel ideas to … you get the idea.[/FONT]
[FONT="]We’re ready to share our scenario. I’m 46, DH is 55. He is employed by Federal gov’t (FERS) and plans to retire November 2014, after his 56th birthday. We married in 2007, and I quit my job in Atlanta and moved south of the city so DH could continue to live near his work. No children.[/FONT]
[FONT="]Our annual expenses – $52-57K[/FONT]
[FONT="]Annual expenses including state/fed taxes - $70-75K/year [/FONT]
[FONT="]We may pay off our mortgage in December, enabling us to deduct $19,389 from expenses. House would sell for $270K today.[/FONT]
[FONT="]DH salary- his high 3 will be approx. $119,200[/FONT]
[FONT="]DH’s pension - $37,485 (after 10% reduction for 50% spousal benefit) – no cola until he is 62. [/FONT]
[FONT="]DH’s supplemental SS offset - $15,444/yr – no COLA; at age 62 to be replaced by $1,806/month SS, if we elect to take it then. We are considering using our cash or DH’s Roth for a few years so we can delay taking his SS, which would be $2,609 at age 67.[/FONT]
[FONT="]Total annual income (pension and ss offset) – $52,929[/FONT]
[FONT="]In addition, we plan to withdraw 2.5% from TSP, beginning 2015 [/FONT]
[FONT="]DH’s TSP - $830,000[/FONT]
[FONT="]DH’s Roth - $69,000 (Vanguard)[/FONT]
[FONT="]My Rollover IRA – $250,000 (Vanguard)[/FONT]
[FONT="]My Roth - $75,900 (Vanguard)[/FONT]
My pension - $3,000/yr starting age 65
[FONT="]My SS age 62 - $883 month; age 67 $1,254/month[/FONT]
[FONT="]Cash (non retirement $) – $215,000 (this money is ear marked for mortgage pay-off, new cars, emergency $, and a move back to Atlanta)
[/FONT]
[FONT="]Our debt - mortgage - $64,000[/FONT]
[FONT="]We feel good about where we are and have had a couple free sessions with a financial advisor provided to us by the government. I think we have all the bases covered and we’re in good shape, but I welcome your opinions. I especially value your input regarding allocation. Nearly all of our retirement funds are in equities. I’m especially concerned about the TSP allocation since we’ll be drawing from it soon - S Fund 42%, C Fund 34%, I Fund 22%, G Fund 2%. Not sure whether to just park a portion of it in G or move some of it to Vanguard and park some of it in their funds, which would offer us more diversity. Unlike TSP, whatever we move to Vanguard, we can’t withdraw until DH is 59 ½. I’m not looking for anyone to tell us what to do, but if you could share ideas on what you’d do in this situation, I’d be grateful. Honestly, I feel lost right now, and need some ideas to jump start my brain so I can become more knowledgeable and form an allocation plan for his TSP in retirement. Thank you all.[/FONT]
[FONT="]We’re ready to share our scenario. I’m 46, DH is 55. He is employed by Federal gov’t (FERS) and plans to retire November 2014, after his 56th birthday. We married in 2007, and I quit my job in Atlanta and moved south of the city so DH could continue to live near his work. No children.[/FONT]
[FONT="]Our annual expenses – $52-57K[/FONT]
[FONT="]Annual expenses including state/fed taxes - $70-75K/year [/FONT]
[FONT="]We may pay off our mortgage in December, enabling us to deduct $19,389 from expenses. House would sell for $270K today.[/FONT]
[FONT="]DH salary- his high 3 will be approx. $119,200[/FONT]
[FONT="]DH’s pension - $37,485 (after 10% reduction for 50% spousal benefit) – no cola until he is 62. [/FONT]
[FONT="]DH’s supplemental SS offset - $15,444/yr – no COLA; at age 62 to be replaced by $1,806/month SS, if we elect to take it then. We are considering using our cash or DH’s Roth for a few years so we can delay taking his SS, which would be $2,609 at age 67.[/FONT]
[FONT="]Total annual income (pension and ss offset) – $52,929[/FONT]
[FONT="]In addition, we plan to withdraw 2.5% from TSP, beginning 2015 [/FONT]
[FONT="]DH’s TSP - $830,000[/FONT]
[FONT="]DH’s Roth - $69,000 (Vanguard)[/FONT]
[FONT="]My Rollover IRA – $250,000 (Vanguard)[/FONT]
[FONT="]My Roth - $75,900 (Vanguard)[/FONT]
My pension - $3,000/yr starting age 65
[FONT="]My SS age 62 - $883 month; age 67 $1,254/month[/FONT]
[FONT="]Cash (non retirement $) – $215,000 (this money is ear marked for mortgage pay-off, new cars, emergency $, and a move back to Atlanta)
[/FONT]
[FONT="]Our debt - mortgage - $64,000[/FONT]
[FONT="]We feel good about where we are and have had a couple free sessions with a financial advisor provided to us by the government. I think we have all the bases covered and we’re in good shape, but I welcome your opinions. I especially value your input regarding allocation. Nearly all of our retirement funds are in equities. I’m especially concerned about the TSP allocation since we’ll be drawing from it soon - S Fund 42%, C Fund 34%, I Fund 22%, G Fund 2%. Not sure whether to just park a portion of it in G or move some of it to Vanguard and park some of it in their funds, which would offer us more diversity. Unlike TSP, whatever we move to Vanguard, we can’t withdraw until DH is 59 ½. I’m not looking for anyone to tell us what to do, but if you could share ideas on what you’d do in this situation, I’d be grateful. Honestly, I feel lost right now, and need some ideas to jump start my brain so I can become more knowledgeable and form an allocation plan for his TSP in retirement. Thank you all.[/FONT]