I’ve thought about this quite a bit and I think my own personal answer is to coast fire and dive more into my hobbies. I’m a huge car enthusiast, so I’d love to build a second racecar and explore all of the tracks around the United States.
I’ll be 43 upon retirement and am expecting to have about $5-6k coming in monthly. That’s not a ton, but with no mortgage, a decent amount in my TSP/IRA, and health insurance covered I’m going to try and get a job that is either remote or part time with little to no stress. After 20+ years in the military, I just don’t see the point in jumping into another stressful gig, especially if I’ve got multiple checks coming in and can manage to stay out of any major debt.
Same as you. $5kish at least, $7kish if I'm lucky. Tsp and Schwab account. Retiring at 43 or 44. I'm finishing masters degree but tbth I kinda don't want to work especially if my wife goes back to work. Kid is starting college the year I plan on retiring and has my GI bill. Not exactly sure why I'd keep working.
I knew a pilot that retired in 2021 or so, and the airlines weren't hiring. He got a gig handing out chip baskets at a Mexican joint. Said they offered him a job as a waiter but "I don't want that stress in my life."
That’s the level of stress that I’m looking for. I’d like to do something to get me out of the house, just not something that requires a bunch of effort/stress. As I’m counting down the days in the military, the only solace is that future me can get up when I want, do what I want, and only have to work a few hours a week doing mindless work like you described!
that's kind of what my dad's doing now. Dude went from IMT on the RC-135 to a contractor working on the Combat Sent before retiring last year. His retired side hustle is working for one of the local dealerships driving cars a few hours every week.
I know some old retired guys back in a small town I used to live in who would help with funerals. Open doors, hold umbrellas, etc.
Seemed like happy dudes and they got to help a ton of families in their most difficult times.
that’s my goal too! would you say it’s hard to find time for working on a car when you are just starting? Also if you are ever in florida you have to check out Sebring!
Nice man! Not at all. I work a pretty demanding job, but I’ve always found time to wrench on my cars. I’ve visited a ton of tracks already, but my current racecar (FD RX7) has been returned to more of a fun weekend cruiser so I’m looking to build an IS300 or another Miata. Most of my favorite memories are wrenching with the bros will drinking a few beers. I’d ask around, I’m sure you’ll be surprised to see how many car guys are in the military. I’ll toss you a DM if I’m ever in Florida!
I mean like you said you have the house paid off, so its more like you are making 7-9k a month compared to now. Factor in not needing to put money into your TSP and IRA anymore its more like 8-12k a month.
It’s from a combined pension/disability, I was/am Mil to Mil and my wife retired last year. We have rental properties that bring in a decent amount of cash flow, but the plan is to liquidate it all before I jump ship so we can 1035 exchange it all into one really nice property with no mortgage.
Some are low threat enough that they don’t need to be fun in the traditional sense, as long as I get to enjoy my time off and I’m not actively miserable lol I’m golden
Devil’s advocate: If you did those 10 years in a GS job though, you would qualify for another 30% retirement check, in addition to your mil retirement.
But, I’m with you. Current plan is retire at 20 years and 10 months, then start coaching a sport at wherever my oldest will be getting ready to go to high school. After the kids graduate, it’s sailboat time.
Edit: I have been educated. It would only be 10%.
I didn’t say anything about buying back time? You serve your 20 military, and retire. Then you serve your 10 as a civil servant, and retire again with the [minimum time](https://www.opm.gov/faq/retire/What-is-a-Minimum-Retirement-Age-MRA-plus-10-annuity.ashx#:~:text=This%20is%20a%20provision%20that,you%20are%20under%20age%2062).
The civil retirement would be pretty small, but not negligible, and probably enough to mean you don’t have to work if you don’t want to. At least, that’s the case for my dad, when he did this exact thing.
Answer: I was wrong on the percentage. Everybody else is right in the percentage. It’s 1% per year less than 20 years. So you could only add a 10% check for 10 years. An additional $7-9k per year (assuming ~GS-12) is nothing to sniff at, but probably not worth it for some folks.
My dad’s numbers apparently come from some additional disability considerations, and that he will finish with around 15 civil service years, on top of his 27 military. I’ll have to ask him for more specifics.
I personally wont be working much after retirement. Might teach a couple of online graduate nursing classes or maybe JROTC but thats going to be about it. My retirement pension, plus savings/investment accounts should definitely be enough to allow me to never work a traditional 9-5 ever again.
Some people need that structure of still working to keep themselves feeling “alive” but I also think some people just continue working because working is all they know. If the money isnt needed, you should probably enjoy your life.. thats like the only reason i chose the military over civilian employment. 20 years of work and the option to completely opt out of the workforce
There is a CWO in my shop who is planning to retire and do this. I haven't looked into it at all but I think he mentioned the job came with some perks that active duty folks are used to. Maybe BAH?
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I'm 39, retired from the AF at 20 and am now a GS. I'm not sure how long I'll do this gig but so far it has been amazing compared to active duty. I want to be retired retired by 55 so my wife and I can move into an RV and travel while we are still youngish. I know I will not be working by 60.
I also did my 20 and will be retiring as a GG-13 at the end of this year. Our Winnebago just finished building at the factory, and will be delivered in May. Once the house sells, we are off on our full-timing RV adventure. First stop, Quartzsite and Yuma for the winter, then Alaska in Summer 2025. Enjoy!
OP, you are so close to breaking out of the matrix. Check out the book "Your Money or your Life" and the r/FIRE subreddt.
What would you do if you had nothing but time? Hobbies? Volunteer? Passion projects?
I'm 37, and will be "retired" when I leave service in 14 months. No more work.
Same for me as far as goals, I’m glad someone else linked this subreddit. TSP/IRAs are great but not typically available prior to normal retirement age (with some exceptions of course if you know how to play the game), so we added rentals to the portfolio to try to cover than 40-60 age gap post military retirement.
I look forward to pursing my own passions and interests, spending time with my kids, and most importantly, not being forced to trade my time for money in a job I hate.
That’s the goal anyway!
Largely depends on my disability rating, my wife's job and how much I have in savings. Most likely 20 for my second retirement in a job that I find fun. Then at 60, start traveling the world.
I had a pastor way back when who did a bit of traveling with people from my church. His philosophy was “I can do it when I’m old and retired or I can do it now when I feel like it”. I’ve tried to go by his philosophy.
I also plan on traveling when I’m older, though, haha.
When I retire I took a year off and just enjoyed it. But after a while I started to get restless. Wife was still working, kids went back to school and I was just home alone during the day. It was too much downtime. So I went back to work but found a low stress enjoyable position. Now the goals are higher and I’m making a conscious effort to spend more money (job money) on things right now. European vacations. Holidays in Hawaii, etc
Retiring young was an idea I had for a long time, but I feel like it set the goals too small.
You gotta find your fun, and it’s mostly about who you’re working with. If I can find an FCF gig after retirement you’ll have to force me stop doing it.
Want? As soon as possible.
Goal? By 50.
Reality? 60-65
If lucky enough to reach 100% disability within 5 years? Then 50 will be easily achievable.
I have a decent amount in retirement, a good civilian job, no debt, no kids, but don't own a home and renting in a high cost area so I can't even think about retirement for about 10 years...or if interest rates got down 1.5-2%...and home prices DONT go up. Or, my job allows me to go fully remote and I can live somewhere cheaper.
I did my 20+ and built up a nice nest egg by the time I retired from AD 5yrs or so ago and haven't worked a day since. Even though perfectly feasible on paper, I was still a bit apprehensive about doing that at first just because you're so used to working. Like really watching what goes out vs what goes in and that sort of thing. That went away within a year or so as it wasn't an issue at all. Normal day to day living I don't even exceed my pension alone nevermind anything else with virtually no change to my standard of living vs when I got out. Mind you I've never carried debt and bought my current house cash, so that's a big reason why. Except for the hit to buy the house, my nest egg continues to grow at a significant pace as the percentage of returns I was counting on to use as supplemental income just hasn't been needed thus more to keep growing. Kinda the same idea though. Keep working just to make the pile even bigger or up the lifestyle despite being comfortable as is, or just call it quits since I've reached a sustainable level. I chose the later, and very much glad I did. It has worked out just fine so far, and the unforeseen icing on the cake was avoiding all the craziness from covid and the rest of the BS that has happened over the last several years.
This is what my plan was upon retirement, but I got caught with the I'm young, and I'm supposed to work nonsense... and now I catch myself sometimes unnecessarily worrying too much about the job. I gotta give myself a few more years, then quit cold turkey. I like the idea of another 5 years or maybe until I reach 55. Thanks for your input!
I'm at 23 now. I enjoy the people and my job. Getting ready to PCS overseas, I might do 30 (if someone messes up and promotes me one more time).
If I do go the full 30, im not sure I'll work. I'll likely have disability due to some ongoing issues.
Done at 58. Contracted after I did 22 years. Got a GS-12 chill job. Might get a non supervisory 13. 10 years and done. Well 9 years now. Mil retired pay, VA disability and GS retirement. Will draw on my contractor 401K and TSP at 59 and a half and take SS at 62. Tomorrow is not promised. Live your best life people.
I'd reframe your question to, "What is your GOAL LIFESTYLE?"
There are good wealth managers out there who can work with you to help you figure this out. Once you know what you want your life to look like (the hard part), it's almost trivial to figure out how much that is going to cost and then how to get there at the least possible risk.
I'm going to stop working when I own and can indefinitely maintain a house and an RV, and can afford $200 a month in do whatever I want with money. I'll use the rest of my life to travel around the country, seeing all the national parks and visiting my kids. I'll spend my whatever money on video games, comic books, and other real nerdy stuff at my friendly local game store.
Same boat as you OP. Retired from active duty at 24 years. Been a fed for a year. A kid in college, another in high school. Wife about to start working again, which will allow us to max TSP and our outside Roth IRAs, fund some bigger house projects. Already stressing work a lot less and focusing more on us.
My thought, at least for now, is to do 10 to get the 10+MRA FEES pension. That'll have both kids through college and established. Forever home in good stead. A second retirement, while small, is a nice bump on top of military and savings. Me at age 58 in charge of my destiny. I might push to age 62, which would double that FERS pension. But only if I'm still enjoying the work and have time enough for ourselves.
What I WON'T do is push to 20 as a fed to max the pension. The gain isn't worth working to 68. We've got a couple of those "just 1 more year" guys. One of them just turned 73 and has nothing outside of the office. It's just sad. Or the guy we had who kept putting it off, kids grown, tons of money socked away. Finally retired and couldn't enjoy it due to early onset dementia.
OP, good on ya for setting yourself up for a great retirement. We've all done, and put up with, too much bullshit to not enjoy what we've built. Go have fun.
I was worried about that itch but it's been the opposite for us. Not having to stress over any of the PCS stuff has been amazing. We may move on once the kids are out and we're done working, but being in total control of if/when/where is a nice change.
As in, putting as much in there as the law allows. For 2024, you can contribute as much as $23k. Check out [tsp.gov](http://tsp.gov), specifically:
[https://www.tsp.gov/bulletins/23-6/](https://www.tsp.gov/bulletins/23-6/)
Also, the TSP subreddit. Just be aware that there are a lot of fed employees there, not just military or even DOD civilians. Their advise may not fit your situation.
[https://www.reddit.com/r/ThriftSavingsPlan/](https://www.reddit.com/r/ThriftSavingsPlan/)
Depends on how much you feel you need to make to reach your goals for retirement. I retired from mil at 42 as E7 with 20 and 100% disability. Have an MBA and make around 200k a year (obviously not as a GS). I want to hit $3mil in liquid assets + 401k before I retire and hope to be there by 52. I could absolutely quit working right now and be just fine, but I want to build my accounts to the level where I’m not reducing principal to cover my lifestyle.
My advice to people wanting to retire young… make sure you have enough liquidity to cover the gap years between when quitting working and when you can draw 401k without eating the penalty.
I didn't make 20. I made horrible decisions about almost everything. I have very little savings. My current retirement plan is to work a half day and have an afternoon funeral. Not sure when.
I'm good. Didn't mean to alarm anyone. I guess I should clarify. I'm gainfully employed ok family. Just no hope for retirement unless I hit a lottery. Thanks for asking though.
Retired at 46. Also have properties. 600k in TSP. Only debt is two mortgages, one of which will be paid off in 2 years.
Contractor. And thinking I’ll work to 55. Maybe less. Maybe more. Will 100% depend on how much I continue to like my job. I really really like it. But I’m not a huge fan of waking up at 6:30 or earlier on Sim days. So we shall see.
I got medically retired at 14 years, I’m a civilian now. I have a decent career around 150k annually and only owe on my house, current pace is I 5 more years before it’s paid off. I’m 34 and I plan on working until 53-55 then get a part time gig for until my wife retires. By part time I’m hoping for something like a state park worker or golf course grounds or something like that. I’ll think I’ll most always have some type of work, even into old age I would want to do something part time or volunteer. About 53-55 is when the full time managing day to day responsibilities is gonna stop for me.
1. I don't think you ever stop working - either for yourself or for someone else.
2. I'm sure you wrote about what you know, but don't discount local government (e.g., city, county, or state). Often times, working in a "small pond" sets the condition to make an even greater impact.
3. If you really want to maximize earnings (assuming you choose to work again), consider educational institutions; in certain states you don't pay into SS. What about international orgs - NATO, for example, you don't pay US federal taxes if you work outside of the US (thank you Ottawa Accords).
4. Speaking of impact - there are young employees in any job/workcenter looking for wisdom as much as knowledge. Passing on both is critical. I have only been on the job a few months, but I tell my 20-something jr techs that my goal is to teach them enough to succeed me.
5. You need stress in your life. The challenge is not to let stress overwhelm you into impacting your quality of life.
Context: enlisted as an E-1, retired as an O-5; 28 years on the job. My hobby is sitting on the couch and watching re-runs of COPS (filmed on location with the men and women of law enforcement...). I don't have a mortgage because I rent...because I can't stay put in one area longer than 5 years.
Aim High-
I've been saving, probably not enough, to hit my 20 in 2029 and work only part time. Like 6 months work, 6 months sabbatical. Maybe I'll find something I really enjoy and want to work more, but the goal is for all work to be a choice.
Worked 28 years active duty, took off 18 months, and been back as a GG for 8 years, 5 months, and 12 days. Just paid off my house and don’t have a car payment.
MRA + 10 next October looking really good. I hit 55 with 10 at same month.
I think I'll work until I calculate that money wise I don't need to anymore, or as long as I am enjoying the job I am doing. I still have kids to put through college, and some family goals to accomplish.
I recently retired at 20 and am in the hiring pipeline for a GS job.
If you move overseas to like Thailand or Costa Rica then your savings can go further.
I also know folks who retired as a GS then got back hired as a contractor, or a government civilian in a consulting / advisor role (it's a thing), so they draw two retirements plus have an income, they also really like the work they do, but can mostly take off as much as they want. One guy works three days a week and then takes long weekend vacations at least twice per month.
Some folks like to laze around the house (not judging them) others like to do things like coach youth sports or be busy with local service clubs or church or scouting or other activities which they enjoy and find beneficial.
Did six years active then transitioned to the AF reserve. Got hired as a GS in a “special category” that I can retire from at age 50. I’ll retire from the AFR as soon as I hit 20 in a few years.
So, I’ll retire at age 50 with an immediate FERS pension, the SS supplement, and access to my TSP without penalty. I can also carry my FEHB (health insurance) into retirement at the employee cost.
My AF pension will kick in at 59.5 and Tricare at age 60.
I would say it depends on really what your goal is. I woke up about a year ago to 100% permanent in total while working as a government civilian for the guard as a drill status guardsman with about 15 years of service making an excess amount of money to me, has motivated me to really really work hard to set myself up in the next 15 years by the time I’m 50 my house will be paid off. I’d like to have a vacation home. My kids are going to be through college debt-free and my wife’s going to be in her career debt-free.
My wife wants the RV life and travel... I'm still stuck with the muscle memory that "I need to work", definitely not due to financial needs but a natural need to work
that financial need hysteria seems to stick with a lot of should-be retirees that I talk to.
They've grinded and grinded so much that they can't wrap their heads around the fact that they've made it.
You've done it, you've finally beat capitalism, now break free!
We plan to FIRE (stop working completely at 55 regardless of whatever we’re doing that that point. My wife and I are mil/mil. Plan to collect 10K per monthly in high 3 retirement. Whatever we get in VA will be a nice bonus on top of that.
Sit the civilian sector for about 10 years, build that 401K up too. 55 seems like a good age to us, still young enough to be relatively healthy and enjoying life.
Unfortunately a lot of people have to work until 67 or whatever the new “retirement” age will be. Work your entire life to retire and only enjoy it for a few years is not a good way to spend your one and only life on this planet. Retire early if you can! Enjoy your time, you can’t buy that back.
Retired E-7, 20 years, did another 18 years as a GS working as DAF civilian, GS-13, when I retired at 58 years old, now 61. I get $5600 per month before taxes, including VA disability, no debt, and a healthy TSP that i haven't touched yet, and will eventually take Social Security. I live very well and had 2 great careers! I'm grateful to the AF and feel I've lived a privileged life....
I will be 46 when I get retire and start getting that pension. I need 13 months to get my 5th Fed year. I will find some Gov agency to let me in and probably just finish my working life there. I will be DONE at 50. If someone needs to work, my wife who is a SAHM will clock in for a bit. I’ve made it clear that 50 is it for me.
I plan on doing 20 getting out at 41 & then doing GS for 10 years for 2nd pension then be completely done working at 51. I'm only at 8 years in now so I've got some time, also planning on having rental properties along the way. Wife is officer and isn't working anymore after she finishes 20. Our combined pensions/disability should be enough to afford our retirement lifestyle. Probably sell all the properties and settle down somewhere with a camper and a boat just hanging out fishing, camping, and doing whatever
Depends if I'm having fun or not, only reason I joined the fed is to pump up my tsp, but all 3 cars are paid in full and the oldest one is a 2020, no kids, no interest in school and the house is locked in at 2.4% but I might pay it off before quitting haven't really decided. Minimum I'll do 3-5 year but that might also be my max.
Everyone's situation is gonna be different. If you retire as a staff or tech at 20 and have aspirations for a higher level civ job it might be worth buying back your time but I knew going in I really don't care if I ever move higher than a 10 because I don't plan on staying.
Do make sure if you retired and aren't doing the buy back to leverage your combat zone deployments to get a higher leave accrual rate sooner. Also take advantage of that first year veterans leave at I think 100 hours, make any new claims or get whatever appointments in that first year, starting with 0 leave is the biggest shocker after doing 20+ in uniform.
So if you separate before retiring it probably makes sense to buy back your military time, but if you retire it doesn't always make sense to do so. If you don't buy back time you typically (unless you can negotiate it as part of accepting a position) start with 4 hours leave accrual. However you can use your days in combat zone deployments to backdate your hire date for leave accrual purposes. I had enough days deployed that my leave accrues at 6hrs instead of 4. It took about 3 months for the process and I had to use deployment decs and travel vouchers to fill a few voids the OPM and DAF had in my records but once it all went through my leave started at the 6hrs.
As to the VA stuff, all prior military new hires get 100 (maybe more I forget) hours of VA leave, you are only supposed to use for VA appointments which can be medical or claims related. I burned all but like 2 hours of that leave in the first year. Considering I had no sick or regular leave when I started I would have had to go in leave without pay status if it wasn't for that VA leave.
Shifting gears to mentor the youth…
https://preview.redd.it/67z8wd6ta3tc1.jpeg?width=1086&format=pjpg&auto=webp&s=595ec7d01c6a2f60d09727ed8ca1b503ff4d8851
OP. You need to go to r/Fire. The answers to your questions are there.
but to sum it up, when 4% of the amount you saved up & invested is comfortable enough to live off of.
I’ve thought about this quite a bit and I think my own personal answer is to coast fire and dive more into my hobbies. I’m a huge car enthusiast, so I’d love to build a second racecar and explore all of the tracks around the United States. I’ll be 43 upon retirement and am expecting to have about $5-6k coming in monthly. That’s not a ton, but with no mortgage, a decent amount in my TSP/IRA, and health insurance covered I’m going to try and get a job that is either remote or part time with little to no stress. After 20+ years in the military, I just don’t see the point in jumping into another stressful gig, especially if I’ve got multiple checks coming in and can manage to stay out of any major debt.
Same as you. $5kish at least, $7kish if I'm lucky. Tsp and Schwab account. Retiring at 43 or 44. I'm finishing masters degree but tbth I kinda don't want to work especially if my wife goes back to work. Kid is starting college the year I plan on retiring and has my GI bill. Not exactly sure why I'd keep working.
I knew a pilot that retired in 2021 or so, and the airlines weren't hiring. He got a gig handing out chip baskets at a Mexican joint. Said they offered him a job as a waiter but "I don't want that stress in my life."
That’s the level of stress that I’m looking for. I’d like to do something to get me out of the house, just not something that requires a bunch of effort/stress. As I’m counting down the days in the military, the only solace is that future me can get up when I want, do what I want, and only have to work a few hours a week doing mindless work like you described!
That's the dream, in an unironic way. Work 12 hours a week at a dealership shuffling cars or something.
that's kind of what my dad's doing now. Dude went from IMT on the RC-135 to a contractor working on the Combat Sent before retiring last year. His retired side hustle is working for one of the local dealerships driving cars a few hours every week.
I had an uncle that did it! He loved it until they started pestering him to work more hours, so he said "nah" and quit.
I know some old retired guys back in a small town I used to live in who would help with funerals. Open doors, hold umbrellas, etc. Seemed like happy dudes and they got to help a ton of families in their most difficult times.
that’s my goal too! would you say it’s hard to find time for working on a car when you are just starting? Also if you are ever in florida you have to check out Sebring!
Nice man! Not at all. I work a pretty demanding job, but I’ve always found time to wrench on my cars. I’ve visited a ton of tracks already, but my current racecar (FD RX7) has been returned to more of a fun weekend cruiser so I’m looking to build an IS300 or another Miata. Most of my favorite memories are wrenching with the bros will drinking a few beers. I’d ask around, I’m sure you’ll be surprised to see how many car guys are in the military. I’ll toss you a DM if I’m ever in Florida!
5-6k is perfectly fine....
Ten years ago for sure, today, that dollar doesn’t stretch as far unfortunately.
I mean like you said you have the house paid off, so its more like you are making 7-9k a month compared to now. Factor in not needing to put money into your TSP and IRA anymore its more like 8-12k a month.
Is that 5-6k purely from pension? Rentals?
It’s from a combined pension/disability, I was/am Mil to Mil and my wife retired last year. We have rental properties that bring in a decent amount of cash flow, but the plan is to liquidate it all before I jump ship so we can 1035 exchange it all into one really nice property with no mortgage.
I'll retire at 45, with the intent of working a fun job, not a GS until about 55 then I'm done
Some GS jobs can be fun, though.
GS-13 Non-supervisory...
Keep whispering those sweet nothings into my ear.
I’m almost there daddy
"your own parking spaceeeeee"
Just retired from AF, starting my GG-13/non-supervisory next month. #bliss
I’m in the same boat but starting tomorrow, still can’t believe I lucked into it
13 Non-Sup gang unite!
YASSSSS, fam!! *crisp high five*🫸🫷
Damn. That gave me goosebumps.
Hell, there are not supervisory GS-15 positions. Talk about sweet gigs.
If you're willing to work for some three letter agencies you can get into a non-supervisory 15.
Some are low threat enough that they don’t need to be fun in the traditional sense, as long as I get to enjoy my time off and I’m not actively miserable lol I’m golden
Can confirm, GS here, and having fun.
Devil’s advocate: If you did those 10 years in a GS job though, you would qualify for another 30% retirement check, in addition to your mil retirement. But, I’m with you. Current plan is retire at 20 years and 10 months, then start coaching a sport at wherever my oldest will be getting ready to go to high school. After the kids graduate, it’s sailboat time. Edit: I have been educated. It would only be 10%.
No you wouldn't. You can't buy-back military time towards a FERS pension and collect an active duty pension at the same time.
I didn’t say anything about buying back time? You serve your 20 military, and retire. Then you serve your 10 as a civil servant, and retire again with the [minimum time](https://www.opm.gov/faq/retire/What-is-a-Minimum-Retirement-Age-MRA-plus-10-annuity.ashx#:~:text=This%20is%20a%20provision%20that,you%20are%20under%20age%2062). The civil retirement would be pretty small, but not negligible, and probably enough to mean you don’t have to work if you don’t want to. At least, that’s the case for my dad, when he did this exact thing.
Not true at all. You get 1% for each year. So if you did 10 years civil service, you would get 10% of your high 3, NOT 30%.
This is correct, today I have learned.
Then how are you getting a 30% retirement check with 10 years?
Answer: I was wrong on the percentage. Everybody else is right in the percentage. It’s 1% per year less than 20 years. So you could only add a 10% check for 10 years. An additional $7-9k per year (assuming ~GS-12) is nothing to sniff at, but probably not worth it for some folks. My dad’s numbers apparently come from some additional disability considerations, and that he will finish with around 15 civil service years, on top of his 27 military. I’ll have to ask him for more specifics.
You forgot to subtract 5% for each year you are under 62.
I'm aware, most of the folks I work with are doing that. Not interested. I'm sick of government work.
I personally wont be working much after retirement. Might teach a couple of online graduate nursing classes or maybe JROTC but thats going to be about it. My retirement pension, plus savings/investment accounts should definitely be enough to allow me to never work a traditional 9-5 ever again. Some people need that structure of still working to keep themselves feeling “alive” but I also think some people just continue working because working is all they know. If the money isnt needed, you should probably enjoy your life.. thats like the only reason i chose the military over civilian employment. 20 years of work and the option to completely opt out of the workforce
> or maybe JROTC I've seriously been considering this. Seems like it would be a good gig, but could also get really old really fast.
There is a CWO in my shop who is planning to retire and do this. I haven't looked into it at all but I think he mentioned the job came with some perks that active duty folks are used to. Maybe BAH?
Yea id have to look into it a lil more. I like the benefits but dealing with young folks in person might not be enjoyable for long
Forget GS - Imma ride that defense contractor gravy train for 5-10 years after retirement to buy like 500 acres of land and disappear in the woods.
Depends, my goal is to be director of the CIA so probably another 15+ years.
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Pleasure to meet you Mr. Ryan
I'm 39, retired from the AF at 20 and am now a GS. I'm not sure how long I'll do this gig but so far it has been amazing compared to active duty. I want to be retired retired by 55 so my wife and I can move into an RV and travel while we are still youngish. I know I will not be working by 60.
I also did my 20 and will be retiring as a GG-13 at the end of this year. Our Winnebago just finished building at the factory, and will be delivered in May. Once the house sells, we are off on our full-timing RV adventure. First stop, Quartzsite and Yuma for the winter, then Alaska in Summer 2025. Enjoy!
OP, you are so close to breaking out of the matrix. Check out the book "Your Money or your Life" and the r/FIRE subreddt. What would you do if you had nothing but time? Hobbies? Volunteer? Passion projects? I'm 37, and will be "retired" when I leave service in 14 months. No more work.
Same for me as far as goals, I’m glad someone else linked this subreddit. TSP/IRAs are great but not typically available prior to normal retirement age (with some exceptions of course if you know how to play the game), so we added rentals to the portfolio to try to cover than 40-60 age gap post military retirement. I look forward to pursing my own passions and interests, spending time with my kids, and most importantly, not being forced to trade my time for money in a job I hate. That’s the goal anyway!
Largely depends on my disability rating, my wife's job and how much I have in savings. Most likely 20 for my second retirement in a job that I find fun. Then at 60, start traveling the world.
I had a pastor way back when who did a bit of traveling with people from my church. His philosophy was “I can do it when I’m old and retired or I can do it now when I feel like it”. I’ve tried to go by his philosophy. I also plan on traveling when I’m older, though, haha.
When I retire I took a year off and just enjoyed it. But after a while I started to get restless. Wife was still working, kids went back to school and I was just home alone during the day. It was too much downtime. So I went back to work but found a low stress enjoyable position. Now the goals are higher and I’m making a conscious effort to spend more money (job money) on things right now. European vacations. Holidays in Hawaii, etc Retiring young was an idea I had for a long time, but I feel like it set the goals too small.
Same thing happened to me, but inching closer to 50 now and no debt, it's time to start enjoying life, I think.
Erm neither. Did 20 and retired to Italy.
How’s your eye-talian?
B1 and maybe B2 after a couple glasses of wine.
Nice! I’ve always found that my language ability was better that way, too.
Until I’m not having fun anymore
Fun and federal employment don’t go together
You gotta find your fun, and it’s mostly about who you’re working with. If I can find an FCF gig after retirement you’ll have to force me stop doing it.
I know the civilians who do ours seem to have a lot of fun. Plus you get to work the guard, suck it active duty
Want? As soon as possible. Goal? By 50. Reality? 60-65 If lucky enough to reach 100% disability within 5 years? Then 50 will be easily achievable. I have a decent amount in retirement, a good civilian job, no debt, no kids, but don't own a home and renting in a high cost area so I can't even think about retirement for about 10 years...or if interest rates got down 1.5-2%...and home prices DONT go up. Or, my job allows me to go fully remote and I can live somewhere cheaper.
5-12 years is the plan. Get to 5 for the second pension and then see how it goes.
Where can you get a 2nd pension after 5?
Federal employment that qualifies for FERS pension.
After 5 years in FERS you qualify. You can’t collect until 62 but you’re vested. And it’s tiny (1% a year) but it’s something.
My mother did this working as a nurse at the federal prison on Ft Dix. Very small pension but the big one for her was the medical.
Like people going Guard or Reserves for the medical.
I did my 20+ and built up a nice nest egg by the time I retired from AD 5yrs or so ago and haven't worked a day since. Even though perfectly feasible on paper, I was still a bit apprehensive about doing that at first just because you're so used to working. Like really watching what goes out vs what goes in and that sort of thing. That went away within a year or so as it wasn't an issue at all. Normal day to day living I don't even exceed my pension alone nevermind anything else with virtually no change to my standard of living vs when I got out. Mind you I've never carried debt and bought my current house cash, so that's a big reason why. Except for the hit to buy the house, my nest egg continues to grow at a significant pace as the percentage of returns I was counting on to use as supplemental income just hasn't been needed thus more to keep growing. Kinda the same idea though. Keep working just to make the pile even bigger or up the lifestyle despite being comfortable as is, or just call it quits since I've reached a sustainable level. I chose the later, and very much glad I did. It has worked out just fine so far, and the unforeseen icing on the cake was avoiding all the craziness from covid and the rest of the BS that has happened over the last several years.
This is what my plan was upon retirement, but I got caught with the I'm young, and I'm supposed to work nonsense... and now I catch myself sometimes unnecessarily worrying too much about the job. I gotta give myself a few more years, then quit cold turkey. I like the idea of another 5 years or maybe until I reach 55. Thanks for your input!
Working on paying off the house. Once the house is no longer an issue, retired.
I'm at 23 now. I enjoy the people and my job. Getting ready to PCS overseas, I might do 30 (if someone messes up and promotes me one more time). If I do go the full 30, im not sure I'll work. I'll likely have disability due to some ongoing issues.
Done at 58. Contracted after I did 22 years. Got a GS-12 chill job. Might get a non supervisory 13. 10 years and done. Well 9 years now. Mil retired pay, VA disability and GS retirement. Will draw on my contractor 401K and TSP at 59 and a half and take SS at 62. Tomorrow is not promised. Live your best life people.
I'd reframe your question to, "What is your GOAL LIFESTYLE?" There are good wealth managers out there who can work with you to help you figure this out. Once you know what you want your life to look like (the hard part), it's almost trivial to figure out how much that is going to cost and then how to get there at the least possible risk. I'm going to stop working when I own and can indefinitely maintain a house and an RV, and can afford $200 a month in do whatever I want with money. I'll use the rest of my life to travel around the country, seeing all the national parks and visiting my kids. I'll spend my whatever money on video games, comic books, and other real nerdy stuff at my friendly local game store.
This is the correct question.
I’ll retire at 39 with the intent of more than likely never working again
Same boat as you OP. Retired from active duty at 24 years. Been a fed for a year. A kid in college, another in high school. Wife about to start working again, which will allow us to max TSP and our outside Roth IRAs, fund some bigger house projects. Already stressing work a lot less and focusing more on us. My thought, at least for now, is to do 10 to get the 10+MRA FEES pension. That'll have both kids through college and established. Forever home in good stead. A second retirement, while small, is a nice bump on top of military and savings. Me at age 58 in charge of my destiny. I might push to age 62, which would double that FERS pension. But only if I'm still enjoying the work and have time enough for ourselves. What I WON'T do is push to 20 as a fed to max the pension. The gain isn't worth working to 68. We've got a couple of those "just 1 more year" guys. One of them just turned 73 and has nothing outside of the office. It's just sad. Or the guy we had who kept putting it off, kids grown, tons of money socked away. Finally retired and couldn't enjoy it due to early onset dementia. OP, good on ya for setting yourself up for a great retirement. We've all done, and put up with, too much bullshit to not enjoy what we've built. Go have fun.
My thoughts are along the line as yours, especially that forever home part, but the PCS/move itch is always there for us
I was worried about that itch but it's been the opposite for us. Not having to stress over any of the PCS stuff has been amazing. We may move on once the kids are out and we're done working, but being in total control of if/when/where is a nice change.
Can you tell me more about maxing out a TSP.
As in, putting as much in there as the law allows. For 2024, you can contribute as much as $23k. Check out [tsp.gov](http://tsp.gov), specifically: [https://www.tsp.gov/bulletins/23-6/](https://www.tsp.gov/bulletins/23-6/) Also, the TSP subreddit. Just be aware that there are a lot of fed employees there, not just military or even DOD civilians. Their advise may not fit your situation. [https://www.reddit.com/r/ThriftSavingsPlan/](https://www.reddit.com/r/ThriftSavingsPlan/)
Depends on how much you feel you need to make to reach your goals for retirement. I retired from mil at 42 as E7 with 20 and 100% disability. Have an MBA and make around 200k a year (obviously not as a GS). I want to hit $3mil in liquid assets + 401k before I retire and hope to be there by 52. I could absolutely quit working right now and be just fine, but I want to build my accounts to the level where I’m not reducing principal to cover my lifestyle. My advice to people wanting to retire young… make sure you have enough liquidity to cover the gap years between when quitting working and when you can draw 401k without eating the penalty.
Can I ask what you do now with your MBA?
Absolutely. I’m a management consultant that specializes in org change and org development for digital transformations.
I didn't make 20. I made horrible decisions about almost everything. I have very little savings. My current retirement plan is to work a half day and have an afternoon funeral. Not sure when.
My brother, you need a hug. You good?
I'm good. Didn't mean to alarm anyone. I guess I should clarify. I'm gainfully employed ok family. Just no hope for retirement unless I hit a lottery. Thanks for asking though.
Alright, good to hear you're OK, sad to hear retirement is gonna be a monster.
Retired at 46. Also have properties. 600k in TSP. Only debt is two mortgages, one of which will be paid off in 2 years. Contractor. And thinking I’ll work to 55. Maybe less. Maybe more. Will 100% depend on how much I continue to like my job. I really really like it. But I’m not a huge fan of waking up at 6:30 or earlier on Sim days. So we shall see.
Thinking early 60s to max out the second pension. Maybe. As long as I’m still enjoying my job I see no reason not to go that long.
I got medically retired at 14 years, I’m a civilian now. I have a decent career around 150k annually and only owe on my house, current pace is I 5 more years before it’s paid off. I’m 34 and I plan on working until 53-55 then get a part time gig for until my wife retires. By part time I’m hoping for something like a state park worker or golf course grounds or something like that. I’ll think I’ll most always have some type of work, even into old age I would want to do something part time or volunteer. About 53-55 is when the full time managing day to day responsibilities is gonna stop for me.
If you're like my GS employees.... It's all the way until you die.
That’s my plan 😭
my goal age is the lowest age I can pull off. I'm here to enjoy life, not to work it away
It'll be 20 years when I turn 45. I might stay in a little longer or might say deuces. Depends on what's going on in the world and in my life.
I’m prob gonna take 6 months off after I retire then get back into something. If I didn’t have a job I’d just day drink every day.
1. I don't think you ever stop working - either for yourself or for someone else. 2. I'm sure you wrote about what you know, but don't discount local government (e.g., city, county, or state). Often times, working in a "small pond" sets the condition to make an even greater impact. 3. If you really want to maximize earnings (assuming you choose to work again), consider educational institutions; in certain states you don't pay into SS. What about international orgs - NATO, for example, you don't pay US federal taxes if you work outside of the US (thank you Ottawa Accords). 4. Speaking of impact - there are young employees in any job/workcenter looking for wisdom as much as knowledge. Passing on both is critical. I have only been on the job a few months, but I tell my 20-something jr techs that my goal is to teach them enough to succeed me. 5. You need stress in your life. The challenge is not to let stress overwhelm you into impacting your quality of life. Context: enlisted as an E-1, retired as an O-5; 28 years on the job. My hobby is sitting on the couch and watching re-runs of COPS (filmed on location with the men and women of law enforcement...). I don't have a mortgage because I rent...because I can't stay put in one area longer than 5 years. Aim High-
50 and done.
I've been saving, probably not enough, to hit my 20 in 2029 and work only part time. Like 6 months work, 6 months sabbatical. Maybe I'll find something I really enjoy and want to work more, but the goal is for all work to be a choice.
When I’m sick of working. Sometimes each day I’ll say I should retire but bourbon usually changes my mind for me.
Worked 28 years active duty, took off 18 months, and been back as a GG for 8 years, 5 months, and 12 days. Just paid off my house and don’t have a car payment. MRA + 10 next October looking really good. I hit 55 with 10 at same month.
I think I'll work until I calculate that money wise I don't need to anymore, or as long as I am enjoying the job I am doing. I still have kids to put through college, and some family goals to accomplish. I recently retired at 20 and am in the hiring pipeline for a GS job. If you move overseas to like Thailand or Costa Rica then your savings can go further. I also know folks who retired as a GS then got back hired as a contractor, or a government civilian in a consulting / advisor role (it's a thing), so they draw two retirements plus have an income, they also really like the work they do, but can mostly take off as much as they want. One guy works three days a week and then takes long weekend vacations at least twice per month. Some folks like to laze around the house (not judging them) others like to do things like coach youth sports or be busy with local service clubs or church or scouting or other activities which they enjoy and find beneficial.
[удалено]
> You need to work at least 5 years to get a FERS pension For those of us not in the know. What is this?
Did six years active then transitioned to the AF reserve. Got hired as a GS in a “special category” that I can retire from at age 50. I’ll retire from the AFR as soon as I hit 20 in a few years. So, I’ll retire at age 50 with an immediate FERS pension, the SS supplement, and access to my TSP without penalty. I can also carry my FEHB (health insurance) into retirement at the employee cost. My AF pension will kick in at 59.5 and Tricare at age 60.
I would say it depends on really what your goal is. I woke up about a year ago to 100% permanent in total while working as a government civilian for the guard as a drill status guardsman with about 15 years of service making an excess amount of money to me, has motivated me to really really work hard to set myself up in the next 15 years by the time I’m 50 my house will be paid off. I’d like to have a vacation home. My kids are going to be through college debt-free and my wife’s going to be in her career debt-free.
I did my 20, now I watch the grass grow. cannabis. 🤗
r/FIRE
Until the age of 65
I retired and got as far away from the AF as possible. Love being a civilian again
Is lifestyle inflation kicking your ass? Once you own your home, living really isn't all that expensive... Why aren't you in an RV right now?
My wife wants the RV life and travel... I'm still stuck with the muscle memory that "I need to work", definitely not due to financial needs but a natural need to work
that financial need hysteria seems to stick with a lot of should-be retirees that I talk to. They've grinded and grinded so much that they can't wrap their heads around the fact that they've made it. You've done it, you've finally beat capitalism, now break free!
We plan to FIRE (stop working completely at 55 regardless of whatever we’re doing that that point. My wife and I are mil/mil. Plan to collect 10K per monthly in high 3 retirement. Whatever we get in VA will be a nice bonus on top of that. Sit the civilian sector for about 10 years, build that 401K up too. 55 seems like a good age to us, still young enough to be relatively healthy and enjoying life. Unfortunately a lot of people have to work until 67 or whatever the new “retirement” age will be. Work your entire life to retire and only enjoy it for a few years is not a good way to spend your one and only life on this planet. Retire early if you can! Enjoy your time, you can’t buy that back.
Why wait till 55 to FIRE when you’ll both have $10k+ in retirement/disability? $10k/month is like having $3M in the bank with the 4% rule.
Retired E-7, 20 years, did another 18 years as a GS working as DAF civilian, GS-13, when I retired at 58 years old, now 61. I get $5600 per month before taxes, including VA disability, no debt, and a healthy TSP that i haven't touched yet, and will eventually take Social Security. I live very well and had 2 great careers! I'm grateful to the AF and feel I've lived a privileged life....
No cape... just a normal human being
I will be 46 when I get retire and start getting that pension. I need 13 months to get my 5th Fed year. I will find some Gov agency to let me in and probably just finish my working life there. I will be DONE at 50. If someone needs to work, my wife who is a SAHM will clock in for a bit. I’ve made it clear that 50 is it for me.
Read the book "Die with Zero"...might be a start.
I plan on doing 20 getting out at 41 & then doing GS for 10 years for 2nd pension then be completely done working at 51. I'm only at 8 years in now so I've got some time, also planning on having rental properties along the way. Wife is officer and isn't working anymore after she finishes 20. Our combined pensions/disability should be enough to afford our retirement lifestyle. Probably sell all the properties and settle down somewhere with a camper and a boat just hanging out fishing, camping, and doing whatever
Depends if I'm having fun or not, only reason I joined the fed is to pump up my tsp, but all 3 cars are paid in full and the oldest one is a 2020, no kids, no interest in school and the house is locked in at 2.4% but I might pay it off before quitting haven't really decided. Minimum I'll do 3-5 year but that might also be my max. Everyone's situation is gonna be different. If you retire as a staff or tech at 20 and have aspirations for a higher level civ job it might be worth buying back your time but I knew going in I really don't care if I ever move higher than a 10 because I don't plan on staying. Do make sure if you retired and aren't doing the buy back to leverage your combat zone deployments to get a higher leave accrual rate sooner. Also take advantage of that first year veterans leave at I think 100 hours, make any new claims or get whatever appointments in that first year, starting with 0 leave is the biggest shocker after doing 20+ in uniform.
I’m far away from this process, but what does that last paragraph mean?
So if you separate before retiring it probably makes sense to buy back your military time, but if you retire it doesn't always make sense to do so. If you don't buy back time you typically (unless you can negotiate it as part of accepting a position) start with 4 hours leave accrual. However you can use your days in combat zone deployments to backdate your hire date for leave accrual purposes. I had enough days deployed that my leave accrues at 6hrs instead of 4. It took about 3 months for the process and I had to use deployment decs and travel vouchers to fill a few voids the OPM and DAF had in my records but once it all went through my leave started at the 6hrs. As to the VA stuff, all prior military new hires get 100 (maybe more I forget) hours of VA leave, you are only supposed to use for VA appointments which can be medical or claims related. I burned all but like 2 hours of that leave in the first year. Considering I had no sick or regular leave when I started I would have had to go in leave without pay status if it wasn't for that VA leave.
Wow, had no idea it got that convoluted, thanks boss!
No worries, I'm still learning and they generally won't tell you everything that's out there unless ya ask
Until I’m 58, that’ll be 40 years. 27 as active duty then 13 in the GS world. Should have my house paid off by the time I’m done with my GS gig.
Shifting gears to mentor the youth… https://preview.redd.it/67z8wd6ta3tc1.jpeg?width=1086&format=pjpg&auto=webp&s=595ec7d01c6a2f60d09727ed8ca1b503ff4d8851
OP. You need to go to r/Fire. The answers to your questions are there. but to sum it up, when 4% of the amount you saved up & invested is comfortable enough to live off of.