When I retired 2 1/2 yes ago, I found that my take home pay was almost $800 a month than when I was working. Of course, I had been contributing $1000 per paycheck to my TSP, so.... Still, it was an overall net increase, since my state doesn't tax fed retirement, reduction in my FEGLI premiums and other things. I just recently began $750 monthly TSP withdrawals. Wife is still working, but this is probably her last year. Retirement is great, I highly recommend it!!
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-------- Original message --------
From: "Scotty Cox sjcx@cableone.net [TSP_Strategy]"
Date:04/02/2017 6:17 AM (GMT-06:00)
To: TSP Strategy
Subject: Re: [TSP_Strategy] Re: Amount Needed to Retire Comfortably
I recently averaged my monthly take home pay for 2016. I then added my FERs pension+FERs Supplement and the income generated from my TSP(as of today) if I rolled it into a Vanguard income fund(Wellington) and what the current yield would produce monthly. I also have a Roth and taxable account that produce monthly income. I subtracted what my health insurance would cost as well as income tax based on retiring at 59.5, I'm almost 46. I'll bring home 400+ more dollars a month in retirement than what I currently do even working overtime every week without withdrawing any principal.
From: "Jay Stevenson ajayon@msn.com [TSP_Strategy]" <TSP_Strategy@yahoogroups.com>
To: "TSP Strategy" <TSP_Strategy@yahoogroups.com>
Sent: Saturday, April 1, 2017 11:43:11 PM
Subject: [TSP_Strategy] Re: Amount Needed to Retire Comfortably
To: "TSP Strategy" <TSP_Strategy@yahoogroups.com>
Sent: Saturday, April 1, 2017 11:43:11 PM
Subject: [TSP_Strategy] Re: Amount Needed to Retire Comfortably
Years ago I read a book on amount needed for retirement which used the following: say you wanted to replace your salary of $60,000 a year at 100%, at a 4% withdrawal rate you would need $1.5 million saved and from that figure you would subtract any defined pension and social security benefits. If your defined pension would be $18,000 a year and another $18,000 from Social security for a total of $36,000 a year. This would mean you only need to save $600,000, enough to replace the the rest $24,000 at 4% withdrawal rate. If you wish to only replace 70% to 80% of current salary, numbers would reduce.
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Posted by: mbaldwin1958 <mbaldwin1958@gmail.com>
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