Federal LEO
Dryer sheet wannabe
Hey there.
Retirement plan review:
Retiring June 30, 2014. Age 51, 25 years federal law enforcement. ($525,000 in TSP). Have obtained a full-time teaching position at local high school. Plan to collect FERS Annuity / FERS Supplement (combined $75,000 starting), as well as collecting $40,000 teaching salary. My plan for Early Retirement is to stop teaching and fully retire at age 56. In retirement I plan to live on FERS Annuity / FERS Supplement and start collecting TSP monthly IRS based withdrawals to avoid the 10% withdrawal penalty for retiring from the FEDS prior to 55. Since I'm retiring at age 56, I will still collect the FERS Supplement until age 62 when I start collecting social security.
Does any one see any mistakes in my federal retirement assumptions and plan?
Retirement plan review:
Retiring June 30, 2014. Age 51, 25 years federal law enforcement. ($525,000 in TSP). Have obtained a full-time teaching position at local high school. Plan to collect FERS Annuity / FERS Supplement (combined $75,000 starting), as well as collecting $40,000 teaching salary. My plan for Early Retirement is to stop teaching and fully retire at age 56. In retirement I plan to live on FERS Annuity / FERS Supplement and start collecting TSP monthly IRS based withdrawals to avoid the 10% withdrawal penalty for retiring from the FEDS prior to 55. Since I'm retiring at age 56, I will still collect the FERS Supplement until age 62 when I start collecting social security.
Does any one see any mistakes in my federal retirement assumptions and plan?