![Re: [TSPStrategy] I am retired and afraid of Musk/ Trump raiding our TSP accounts](http://2.bp.blogspot.com/-erTXCq61ULM/TmHYAQBZ0GI/AAAAAAAACCs/6cBX54Dn6Gs/s110-c/default.png "Re: [TSPStrategy] I am retired and afraid of Musk/ Trump raiding our TSP accounts")
"What is the advisor making off the annuity and charging you for AUM?
With 40 years of service, why do you need an annuity (without a COLA) laid on top of your COLAd pension and SS? What is the adviser's justification for this approach?"
I will have exactly 41 years come retirement day 9/30/25. Have calculated my high 3 to be right over 140K and so monthly check is $5272. Will start SS right away at age 62.4 years old approx. $2565 per month
My TSP should have been much larger than it is as I cant count how many loans I've taken from it over the years. In fact I have 2 outstanding ones now. They've been pulling out 1000 bucks net money out of my check for quite a while now on 2 2year loans totalling 50K and need to bump in an extra 500 per paycheck all the way to end of September to pay them off by retirement. So right now it;'s only 700k. For which I am moving 400K to this buffered ETF that my financial advisor will charge me .75 percent a year to manage for me. It will be kept in conservative ETF's for now with the way things are looking and I can't lose money at all unless the bottom drops out. I don't have on hand at the moment the details of this product but we meet again friday to finalize stuff. I am putting 250K into the annuity and here are some details of it:
annuity from Athene:
Lifetime Income: $1,557/Month if starting lifetime income in one year (locks in this amount)
Current S&P 500 Strategy Cap of 5.5% (You make the first 5.5% the S&P 500 is up for the year)
IF S&P has down year I lose nothing
If I run out of money I still get 1557 per month until I die.
If there is money left over after I die it goes to my heirs
Fee: 1%/Year that pays for lifetime income
after 10 years I can get out of it if I want.
There is an outstanding issue of getting my 4 years active duty in the Navy added to my federal retirement. I spent 4 years shore duty in Naples, Italy. After I got out and moved with my new wife who got orders to Naval Ordnance Station, Indian Head, MD, I started my civil service career as gs9 computer specialist. As you all know, one must pay a certain amount of money to get those 4 years added to your federal retirement. I thought maybe I might have done it way back then in MD back in 1988, but couldn't remember. All my official stuff with my current agency IRS, shows these 4 years are there when it shows my SCD for retirement date. But as I have recently learned, as I am learning alot about retirement, that don't mean diddly if my personnel file at OPMdoesn't have the appropriate form on file , I think its SF1515, showing proof of made deposit, then I will have to pay for it before I retire. And yes, I am aware that the original charge was not much at all as I didn't earn a whole hell of alot as an E2-E3-E4. But now today, with the interest added, I've calculated it to be over 6K today. Still a no brainer to pay for and I am prepared to pay for it if need be. And yesterday, finally, OPM has given my agency access to one's EOPF file. So I finally got to look at my own file online and alas, I don't see anything in it so I have opened a help ticket with my agency to get that all squared away.
With me moving to Italy, and it's not as easy as it might seem. I have to apply for the Elective Residence Visa that is made for people like me who are retired and can show proof of all their income and I think the minimum is only 30K euros per year. Anyways, just getting an appointment with your local Italian consulate is next to impossible as all available appointments are already filled many months out. But one day recently on my 1000th attempt logging on to see if one opened upat the San Francisco consulate, I got lucky! and have one now set for June 5th. Which happens to be a perfect date for me because I have plans to visit Sardinia in May for about 3 weeks and do a recon of the whole island to see if this is really the place for me. You see, I was struck by a bolt of lightning about 4 months ago. It was really a vivid dream and it laid out my destiny and specifically said it was Sardinia. I have never been to Sardinia, never seen pictures of it, nothing. I was only aware it was another Italian island in the med somewhere. I looked it up on the Internet and my jaw dropped. You see, I love the ocean more than any place on earth and my whole being just releases all stress and I feel great inner peace. So it was no wonder why this place was where my destiny was laid. Having lived in Italy for 4 years long ago, I remember all of it fondly, and one thing you learn there quickly, is that these southern Italians are some of the friendliest people you could ever meet. It is said Sardinians are much the same but it will be important for me to get up to speed on my Italian. Am working with an app now. Anyways, one of the requirements to get this Visa is to show proof of at least a 1 year lease on a property over there signed and everything. I know! How can one possibly procure such a thing living here stateside? Well now this planned trip serves a dual purpose. I need to acquire a 1 year lease on some villa over there and it can't start until January 2026, my proposed date to move there. But here's where I get lucky again, (knock on wood), I have been on the website Idealista daily looking at available homes for rent in Sardinia and the long term lease market is not a big thing there unfortunatley,, not alot to choose from. But there was this one place close to the capital city Cagliari, that looked interesting and I messaged the landlord and he replied and said he was an American too! We got to talking and he is willing to sign such a lease for me and keep the place open for me for that 1 year! of course I will meet with him in May and look at the place and hopefully this time next year, I will be laying and playing on one of the many gorgeous beaches this island has. Look at pictures folks. Sardinia has the bluest clearest Mediterranean waters ever!
After giving my financial advisor estimates on my income needs and budget for my proposed lifestyle in Italy, we talked about getting another stream of income to buttress what I already get with FERS and SS. I also plan to rent out my home here in Fresno, CA as a long term lease and hope to receive another 1500 net money for that, as I do still pay for a mortgage on it. With that added, we have figured I can do the things I want to do in retirement and not blow my TSP wad and actually watch it grow with great safety nets as needed. This is not your ordinary annuity, they have really vamped up the options in the annuity world, and this one looks solid to me. I would love to hear anybody's take on all this
because I feel still a babe in the woods with financial managment at retirement. The guy and his company are solid though. I trust him after meeting about a dozen times now with suggesting where my money should go.
You see I have big plans! First and foremost I will sell most big ticket items I own here which include a couple vehicles, motorcycle, grand piano and boat. That will give me a chunk of money into my savings account to move over there and start renting. I plan to purchase my forever piano once there. I'm talking 7' plus grand that is probably going to run 70 - 90K. I will buy a small car and motorcycle. And then after a year if things look good, I will be looking into a cabin cruiser that I could sail around the whole island and live on for trips. But ultimately, if this is indeed where I want to live forever, I will be buying my house on a hill overlooking the sea from my backyard with swimming pool. I can afford to do that there. Here is an example listing today of something that would make me a happy man for the rest of my life. Oh, I am bringing my two best friends with me as well, Timber and Perris, my Decker Rat Terriers. They are going to have the most fantastic life hitting beaches everyday.
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