Requesting suggestion from the Federal Gurus or financial planners.
I am 41 years old and working for the Fed. I have six years military, six years non law enforcement and now law enforcement 6(c) retirement. As of today, I have a total of 13 ½ years with the Fed. I inherited a bit over a million $$ give or take. My salary will vary depending on overtime but my based is $65,000.00. I made some really bad investment like, Real Estates, business and bad girlfriends. Ohh those girlfriends!!! No kids as of now.
With the depreciation value of my properties, I lost over $130,000.00 and counting. I figure I am not much of a business person based on my business failures, so I decided to put my money in municipal bonds 6.20% AA+ tax exempt. I max out my TSP which is currently $100,000.00. No ROTH IRA for me. I am really hopping not to keep breathing pass 70. I want to wok six more years and retire to a third world (Thailand or Philippines or maybe both). Based on the advantage of the dollar in a third world country and my very humble lifestyle, I do not think I need more than $25,000.00 a year as of today unless I get a girldfriend. Oh those girldfriends!!!!
First, I am worry about the future value of the dollar. If the dollar crash I will be caught with my pants down in a third world country. So I’m trying to keep the door of my federal pension half open.
Also, my government retirement will be affected since I am getting out too early. I understand that if I get out too early I will be penalized 5% a year. My minimum retirement age will be 57.
Finally, I do not think the real estate market is going to recover for the next ten years due to the lack of inflation and others factors like the world economy is changing. I feel that my properties are just money pits and are creating a lot of distress in my life. I have no plan to pay off these properties because.
Any suggestion from the gurus about early retirement?
Thank you very much!!!
I am 41 years old and working for the Fed. I have six years military, six years non law enforcement and now law enforcement 6(c) retirement. As of today, I have a total of 13 ½ years with the Fed. I inherited a bit over a million $$ give or take. My salary will vary depending on overtime but my based is $65,000.00. I made some really bad investment like, Real Estates, business and bad girlfriends. Ohh those girlfriends!!! No kids as of now.
With the depreciation value of my properties, I lost over $130,000.00 and counting. I figure I am not much of a business person based on my business failures, so I decided to put my money in municipal bonds 6.20% AA+ tax exempt. I max out my TSP which is currently $100,000.00. No ROTH IRA for me. I am really hopping not to keep breathing pass 70. I want to wok six more years and retire to a third world (Thailand or Philippines or maybe both). Based on the advantage of the dollar in a third world country and my very humble lifestyle, I do not think I need more than $25,000.00 a year as of today unless I get a girldfriend. Oh those girldfriends!!!!
First, I am worry about the future value of the dollar. If the dollar crash I will be caught with my pants down in a third world country. So I’m trying to keep the door of my federal pension half open.
Also, my government retirement will be affected since I am getting out too early. I understand that if I get out too early I will be penalized 5% a year. My minimum retirement age will be 57.
Finally, I do not think the real estate market is going to recover for the next ten years due to the lack of inflation and others factors like the world economy is changing. I feel that my properties are just money pits and are creating a lot of distress in my life. I have no plan to pay off these properties because.
- If depreciation value keeps rising my money will eventually be wasted.
- If better to have cash on hand than to have it frozen in case you get sue or the economy keeps going bananas etc...
- I can use the properties as tax deduction.
Any suggestion from the gurus about early retirement?
Thank you very much!!!