Utilizing a burner account for apparent causes.
So I’m in a really distinctive and lucky place. I really feel like I’m at some extent in my life I can cease caring about saving for my retirement a lot and begin having extra disposable earnings to have enjoyable, journey, and many others. Right here is my state of affairs.
Single Dad, (not too long ago divorced & paying some heavy alimony haha) w/5 & 7 yo
Federal Worker, will hit minimal retirement age in 20 years (57).
Been maxing out my TSP for final 4ish years my stability is $360,000.
I’ll retire in 20 years and estimating my excessive 3 to be $185,000 which might equal a pension of about $75,000 a 12 months.
I’m a 100% everlasting and whole disabled Vet (sure you possibly can work fulltime and be 100% with the VA). Utilizing a common SS COLA the final 25 years I estimate my yearly entitlement to be round $87,000.
So after I retire I’ll have $162,000 a 12 months in assured earnings (1/2 of that being nontaxable).
I wish to lower my TSP contribution from Max to round $13,000 a 12 months. Then use that additional web earnings as my journey cash for the youngsters and I.
Is that this in poor health suggested?
Edit: More information
While you retire as a Fed you get to maintain your medical insurance. Which is superior. Plus I’ve Tricare, so being double lined medical payments are nearly nonexistent.
Additionally if i decrease my TSP investing to 10% of my pay as a substitute of maxing out, with a 6% return I ought to have about $1.8M in there at retirement.
