Posts

Deferred Annuity

 Calculate at what age you qualify for a deferred annuity and if the quantity you can look forward to is sufficient.  For example, at 10 years of service, what, if anything, would you get and how old would you be once you got to retire vs. when you would start drawing on the annuity?  What about 20 years of service? For example if at 10 years you get enough such that combined with other streams of income you have enough to survive annually in retirement, then that takes care of the later years.  The next question is, how old are you if you quit after 10 years?  What's the age gap between this early quitting age and when you start drawing on the annuity, as you can't draw on it until you meet the minimum age requirement?  How long is the gap period?  How will you survive during this gap period?   For example, if the gap is 20 years, do you have enough income stream to survive 20 years of not working until you draw your pension and/or TSP incom...

Welcome to Government FIRE!

 Welcome to Government FIRE, my fellow civil servants! The aim of this blog is to help you calculate how soon you can retire early, government style. If you are new to FIRE (Financial Independence Retire Early), welcome!  No, you are not chained to your desk until 57 or whatever your minimum retirement age is.  I will share FIRE and general finance resources that I have found helpful. If you are thinking you need to save 25 times your annual budget to retire early, think again. US government workers usually have pensions, and some have special retirement plans that allow for early withdrawal, penalty free.  There are also generous matching provisions for the retirement plans. I'm here to help you revise the equations you've read about in FIRE books and blogs to better reflect when you may reach your FI target.