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Retirement timeline
Old 10-01-2015, 09:05 AM   #1
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Retirement timeline

I put this timeline together last year to illustrate, and better understand my income streams after retirement at 56. My income goal is $3000 per month, I know that seems small, but we have zero debt, very inexpensive healthcare, and 2 nearly new vehicles. There is a 5.5 year income gap between the ages of 56 and 62. I plan on making that up by making withdrawals (non-penalized, but taxable) from my TSP account. I'd appreciate your review and feedback.


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Old 10-02-2015, 08:39 AM   #2
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I'm not sure what kind of feed back you're looking for.

It appears that you are planning to get your $3,000 from military disability plus TSP annuity for the first 6 years. Then, replace the TSP with FERS for the rest of your retirement.

Assuming they are both COLA'd, you have covered your $3,000 target with those two sources. SS and the rest of TSP are cushion/gravy.

Based on this very limited information, that looks like a reasonable plan.

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Old 10-02-2015, 09:01 AM   #3
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Why are you waiting to take your FERs.
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Old 10-04-2015, 10:05 PM   #4
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@Independent Thanks, I appreciate the feedback

@Choices My FERS pension is docked 5% per year for every year I take it before the age of 62.
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Old 10-05-2015, 09:19 AM   #5
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That gap between ER and claiming SS is one that many of us do have to deal with. In my case, I used both TSP and dividends from my taxable account to fill in that gap. Nothing too creative or brilliant I suppose.

The reason I am posting is not to say "do what I did", but instead to mention that that gap can pass by so fast! For me it was only 4.5 years, and really it is just a very few years in your case, too. Just wanted to mention that fact because it has given me a different perspective on the problem.
I have drunken deep of joy,
And I will taste no other wine tonight.

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Old 10-05-2015, 03:15 PM   #6
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Shouldn't the Age 62 column read 3411, 3411, and 4912? Otherwise, it looks to me like you are good to go.
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Old 10-07-2015, 08:05 AM   #7
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Thanks WR2 and N02L84ER. I may work some part time low stress gig during the interval between 56 1/2 and 62, and then again maybe I won't. I've got fish to catch, cars to build, yard work to do and back roads to cruise.

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