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Hi, I'm hoping to retire in early 2010
01-25-2009, 09:51 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Oct 2008
Posts: 1,596
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Hi, I'm hoping to retire in early 2010
I will be eligible to retire at the end of 2009 and currently plan to stay until the first part of 2010. The retirement system I'm under is CSRS (I'm a fed) so the current stock market predicament is not a major consideration. It would be nice though for the TSP to return to some level of former glory as I do wonder about maxing out my contributions to it each year. Guess that just helps me to live on less than I make.
Retirement has been calling to me for a long time so it will be nice when it finally comes! The people I work with though tease me about coming back as a contractor after I retire which is not uncommon where I work.
I have been lurking around the forums and reading through some of the threads. This looks like a great place so I hope to jump into some of the discussions.
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01-25-2009, 09:58 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 1,183
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Welcome aboard powerplay! The waters fine. Read all around the forum, share more info and ask questions as needed.
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01-25-2009, 10:09 PM
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#3
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Moderator Emeritus
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,873
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Welcome, Powerplay, looking forward to seeing more of your posts.
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01-26-2009, 03:53 PM
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#4
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Dryer sheet aficionado
Join Date: Jan 2009
Location: Middle River (Baltimore suburb)
Posts: 34
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Hi Powerplay. I'll be interested in hearing your thoughts and concerns about retiring. I work for state government, and although coming back contractually is a possibility for me, too, there is a maximum amount I could earn or it could actually reduce the pension, dollar for dollar. Does a federal job have that type of limitation?
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01-26-2009, 04:42 PM
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#5
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Gone but not forgotten
Join Date: Aug 2006
Posts: 6,924
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Welcome to the boards.
Many former feds (I am one) come back as contractors. I didn't even consider it.
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
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01-26-2009, 04:44 PM
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#6
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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Welcome !
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01-26-2009, 10:41 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Oct 2008
Posts: 1,596
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Thanks for the welcome.
janetvj - Comig back as a contractor would not impact my retirement as a federal retiree. It sounds like you would need to do some careful planning first as a state retiree.
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01-27-2009, 12:30 AM
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#8
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Recycles dryer sheets
Join Date: Nov 2008
Posts: 169
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just wondering: if you retire & come back as a contractor, is that not retiring?!? 
retiring to me would mean not working any more, or perhaps part time doing something enjoyable.
or mabey i forget that some lucky people actually enjoy their jobs & the people they work with.
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01-27-2009, 09:25 AM
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#9
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Recycles dryer sheets
Join Date: Sep 2008
Posts: 274
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If "retirement has been calling you for years", then it is unlikely you will be disappointed and go back to work. Not knowing your current situation, I can't give you individual advise. But I suggest you mentally play out how you will see yourself spending your days. Some people can get more involved in hobbies; some people need something more challenging - like joining the Peace Corps! I think most people who go back to work never give any thought to an alternative lifestyle - all they have ever done is gone to work each day.
I highly recommend you spend some time traveling. This kind of forces you to see life from a different perspective. I see where Amtrak is offering good fares on 30-day travel passes where you can travel around the entire US. I've done that several times, and it is thrilling (to me). The train offers a much more panoramic way to travel. Driving is boring.
Don't let yourself fall into a rut. The world is filled with adventure - and this is the time you can finally experience it first hand.
Welcome.
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01-27-2009, 09:37 AM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,037
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Welcome to the board. 
I am a former FERS employee who simply pulled the proverbial plug for a deferred retirement under MRA+10 rules. I was approached by several contractor site reps just before I exited. My answer was a polite "Thanks, but I'm history". I could easily seek a position right now, and would get definitely one. Nope nope nope! 
After 26 yrs in the industry as both contractor (8 yrs) and fed (18+ yrs), it was time for a change. I can still be an Engineer with no paycheck, no deadlines, no politics, no silliness. That is sweet! 
My advice is casually explore some contacts, tell them you are taking a 6 month to 1 year sabbatical, and then decide. My guess is you will never go back unless your line of work is interesting and you love/miss it.
A copy of Zelinski's "How to Retire Happy Wild and Free" might be in order while you are still w*rking.
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
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