martyb
Thinks s/he gets paid by the post
I will have a COLA'd DB federal employee pension once I retire, whenever that may be. I'm actually eligible in 7 months, when I reach age 55. I will have 36 years at that point.
At age 60 (5 yrs) I will begin drawing a military reserve retirement (pension) which will also be COLA'd, that will be approximately $15000 per yr net, before deductions for tax & survivor's bens. I'd be really lucky if it was close to $1000 per month net, maybe slightly less.
At 62, I'll get a minimal SS payment of around $250 or so per month. That's about it for my pension income situation.
Wife will get SS starting in 2022.
We have some savings, and are trying to determine whether to spend some of it to avoid having a mortgage after retirement, since the pension income's not going to be all that much.
At age 60 (5 yrs) I will begin drawing a military reserve retirement (pension) which will also be COLA'd, that will be approximately $15000 per yr net, before deductions for tax & survivor's bens. I'd be really lucky if it was close to $1000 per month net, maybe slightly less.
At 62, I'll get a minimal SS payment of around $250 or so per month. That's about it for my pension income situation.
Wife will get SS starting in 2022.
We have some savings, and are trying to determine whether to spend some of it to avoid having a mortgage after retirement, since the pension income's not going to be all that much.
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