calculations i used for my specific circumstances
1) maxed out my TSP contributions including catchup
2) i have medical conditions and males in my genetic line die at 40 or 82-84
3) medicine is getting better and i dodged the bullet 2x already, thus i am not making plans for being 85-95 or so
4) TSP is heritable, you can gift it to your spouse of children 100%
5) Social security, FERS, CSRS STOPS when you die, completely
6) If I had deferred Social Security until i was 70, I would have forgone $200,000 I could have spent, but did not get if I collected starting at age 62 (8 x ~$25,000)
7) TSP continues to grow and I don't need it yet, you may need it
**8) can you wait 1 more short year to retire and totally max out your TSP contributions, max out the $5,500 catchup, (drop another $23,000+ into TSP) carryover Annual leave and get 448 hours worth of annual leave paycheck? (an extra 5.6 paychecks)( (you have 9 holidays, a month or so sick leave saved up (?) work some 3-4 day weeks, ease into retirement)(you asked for suggestions)
got to SocSec.gov and make 3 graphs.
1 graph what you get age 62, 1 graph what you get age 66, 1 graph what you get starting age 70.
don't add %'s or anything, make it simple. I personally had to live ~20 years (age 82-83) for the crossover points, IF I can make TSP grow, it will grow faster if I make no withdrawls before I need it
my graph had me getting $200,000 when I hit 70 if I started at 62, and $0.00 starting at 70
I got a higher monthly if I waited, BUT will I be alive or healthy enough to enjoy it
"It's later than you think"
From: "dls1958@gmail.com [TSP_Strategy]" <TSP_Strategy@yahoogroups.com>
To: TSP_Strategy@yahoogroups.com
Sent: Saturday, April 29, 2017 9:49 AM
Subject: [TSP_Strategy] TSP/IRS withdraw strategies
I will be retiring in a few months and I am 59 years old. I wondering how to determine whether it is better to take more out of my TSP and my IRA now, and defer Social Security payments later than age 62 vs. taking the lower SS payment at age 62 and lowering my TSP/IRA payments at the same time. Any information or thoughts is appreciated.
Dave
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Posted by: robert winfield <winfield100@yahoo.com>
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