Class of 2022

Well, here we are again. Interviewing another Retiring Class. What is the purpose of this? Simple—to assist those who are currently thinking about retiring. Assist with what? Peace of mind.

I don’t care how ready you are, leaving something that you’ve been doing for 20, or 30, or even more years, and stepping out into the unknown comes with at least a little bit of trepidation or anxiety. That’s natural and normal. If you’ve got some butterflies, don’t think you’re somehow unique in this.

Think back to that high dive at summer camp. Seemed scary as a little kid. But it probably helped to see a few of your friends go first. You watched them to see if everything would be ok. And it turned out that everything was ok. They jumped, they screamed, and they survived. Then what happened the instant their head came up from the water? They started encouraging you to do it. Because it turned out…it was fun! That helped you. But you were probably still a little queasy standing up there. Finally….you jumped. And you learned what they already knew. The world didn’t end. You were ok. It was scary, but it was actually also fun.

Retirement is your next high dive. And this paper represents your friends that have literally just done what you’re thinking about doing soon. Hopefully you believe them when they say retirement is awesome.

My favorite line this year is: “Do it! It is worth it. Unless you like working for peanuts.” LOL. That’s someone that understands the math behind staying vs. going. If you don’t understand the math behind staying or going, please educate yourself.

The responses are cut and pasted. I do not edit them for grammar, spelling, cussing, political views, accuracy, or anything else. So don’t email me about that. Just because I posted their answers doesn’t mean I agree with everything in here. Reader beware. If you want to read the previous years, try 2021 and 2020.

Each person’s response is separated by a line. That’s how you tell where the next person’s answer starts.

Comments and questions are welcome below.

Did you retire at first eligibility or later?  What were the reasons for leaving when you did?

I retired one year after my first year of eligibility. Upon retirement, I had a total of 21 years of federal service. I had been going back and forth as to when I would retire when I came across the Can I Retire series. Reading the articles helped me to understand that I could retire early as a Special Category Employee (SCE). I had several discussions with my financial advisor and decided to close this chapter of my life. Finally, a good friend who had plans to retire on 12/31/2022 tragically lost his life in an automobile accident on 04/21/2022. That unfortunate event helped me to put things in perspective. Life is short and tomorrow is not promised.

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I retired 2 days after my first eligibility. I read your article on why you should retire, did the numbers and came up with after pension/supplement and VA disability my take home pay would be 9K less a year. I decided that was no reason to deal with work/stress/away from family for 9k. If I decide to use TSP I will easily make up difference.

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I retired at first eligibility.  My wife is an 1811, I am 0080.  We have always transferred where her career with NCIS has taken her.  She received orders to the NCIS Central Field Office a few months before I was eligible to retire.  My chain of command at PFPA allowed me to telework remotely the last five months before I retired.  We have a four year old, I am managing his day to day and am “working” a custom leather business.

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I retired a few months before I was mandatory to enjoy the summer home with the kids.  I had fun my entire career so there was no reason to leave prior to almost mandatory.  33 years Fed LEO.

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Later - 3 years and 2 months after I qualified.

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I got tired of the constant changes, and not all of them good ones.  I also wanted to be closer to family who lives in another state, so am moving there right after I retire.

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I always planned to walk out the door the day I turned 50, but an overseas assignment and COVID made me delay by about 18 months.  I was burned out, for sure, but wanted to give the family a great experience by living a couple of years in a really nice foreign location.

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I did not retire at first eligibility, I have been eligible since March 2016.  I am leaving on December 31 to maximize my annual leave payment.  I am mandatory end of March 2023.

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I retired at first eligibility.  I left when I did because the job was not fun anymore.  Plus the government is paying me to stay home.  How can I turn down an offer like that?

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I was eligible to retire on 5/31/2022 as an FBI SSA (the day before I turned 50) and ended up retiring on 10/31/2022 to take another job on 11/7. I left at the end of the month so my benefits started on 11/1. My wife had told me for years I had to retire and get “a real job,” because we have 3 kids, one going to an expensive Catholic HS, and all three heading for college. In July, my boss retired and I became Acting ASAC, receiving a whopping $17 extra dollars a day as a GS-14 doing a GS-15 job. I loved being a case agent for most of my career but I found I actually enjoyed the ASAC role; however, I wasn’t eligible for promotion. Had I wanted a promotion to GS-15, I would have to go to FBIHQ and end up making the same salary as a GS-10 Brick Agent and a senior GS-14 SSA in NY for at least 2 years with much more responsibility. I saw no real reason to do that, And the 3-hour average daily commute from NJ to lower Manhattan and back (36 total miles) was getting to me. I wrestled with the decision to retire because I was doing important work and felt on top of my game. Executive management, other supervisors, and the agents respected me. I also enjoyed the mentoring aspect of the job. What really weighed on my decision was the outside job I was offered. While not as high-paying as I had hoped, it is remote 4 days a week, with one day in an office 20 minutes from my house. My weekly commute will now be maybe 40 minutes roundtrip vs 15 hours. I was never a ladder climber, focusing on doing casework and making sacrifices. Now my focus is work-life balance and making/banking as much money as I can so we all have enough to live on, continue saving so my kids have as little college debt as possible and we can survive whatever financial catastrophe is heading our way—yes, I’m a pessimist.

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I retired on 03/31/2022 at age 54 with 23 years and nine months of service. My plan was always to retire from the FBI when I met my financial goals and felt the timing was right. I did not plan to work after retiring from the FBI and I still don’t have any plans to get another job. I met my financial goals well before my retirement date, but I stayed a little longer to finish up a major case in 10/2019 and I really enjoyed my new assignment after being transferred to a Resident Agency closer to home and close to my college-age kids, as well as traveling around the country doing case presentations and doing Agent applicant interviews. I also told my ASAC when the RA transfer was offered that I had no plans to retire for at least two years, so I felt I needed to honor that. But I was still having fun and I planned to retire in June 2022 with an even 24 years of service at the age of 55.

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I retired one year after becoming eligible. I wanted to hit the 25 year mark before retiring.

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Retired almost 1 year after mandatory.

I loved my job and the mission, but time was up, I was ready to move on.

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I became eligible in March 2020 but did not retire immediately because we were hoping to get a cost transfer to our retirement city.  That transfer came through in June 2021 so the entire move cost and realtor fees were paid by the FBI, saving us literally 10’s of thousands of dollars.  However, I then had a CSA (Continuing Service Agreement) of 12 months.  Due to the CSA, my next eligible date was June 30, 2022.  We were building a house, so I waited until it was complete and retired on Aug 31, 2022.  From my perspective, there is zero downside to retiring as early as possible.  Get another job if you want to but retirement is amazing and gives me the flexibility to work as much or as little as I want, on my terms.

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Eligible 11/5/2021 retired 3/31/22

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I retired the day after I was eligible.  Simply because I was eligible on Sunday.  I came in on Monday to say goodbye and turn in gear.

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I retired at age 57, on 12/31/2021. My reasons for staying beyond 50 were: I had one daughter in college, another getting ready to graduate high school (we had 529s for both, but I was still adding $ for the younger one), & I wanted to beef up our TSPs. My wife was a regular FERs FBI employee. She received a VERA-VSIP buyout offer in early 2021. Initially we thought she would have to work 5 more years, but this reduced al our calculations by 5 years. She retired in October 2021, I followed in December. Plus, I was able to change the jobs I was doing at the FBI to something more enjoyable…I called it “easing my way into retirement”  

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I retired two years after my eligibility date. I had no intentions of working post-retirement and after 33 years of government service, coupled with vaccine mandates, I realized it was time to cut the cord and exist the zoo gracefully.

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No.  I waited about two years.  Was not actively looking to go until I learned about the Reserve Service Program (RSP).  Put in a resume and ultimately received an offer.

What was the exact financial reason (and moment) you decided to retire, if you can point to one thing?

I understood when I began working for the Federal Government that when I retired, I would have a pension, social security and TSP/other personal savings. Once I reduced my debt, I knew that my pension would cover my monthly expenses. Knowing that my pension will be there for as long as I live is the singular thing I can point to. The social security and TSP/other personal savings are the cherry on top. *Note- I am single with no children.

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I read your article: I CAN'T AFFORD TO RETIRE: a letter to federal law enforcement

After reading that I knew I was leaving the first chnce I got.

I started Federal service with FAMS at 35 and retired at 55 and was going to  work until 60 as we all had waivers, until I read that article!

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When my wife received transfer orders I looked at the 0080 job availability in Great Lakes and Chicago.  I was willing to step down one or two grades and be a supervisor again – Just not worth it.  We have been debt free for 6+ years (minus the house) with each of us having 4 months of emergency funds then our individual savings and TSP accounts.  My wife is a better saver than I am.  I will have my civil service retirement with military buy back and my reserve military retirement when I am 60.  Both of my retirements added together are approximately $6500 a month after taxes. 

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Financially, could have retired earlier, but was having fun at work so I stayed.  If you are not having fun, transfer or retire, it is not worth staying around chasing another 1% FERS percentage per year if work is bugging you.

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I was maxed out on the pay chart, had 27 years of federal service, and had no debts.  My TSP was also at a really good valuation.  It did not seem logical to keep working with such a nice retirement package at my disposal.

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Nothing specific.  I did want to have over 1M in the TSP which I was able to accomplish.

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I paid off my house in 2021 and realized my net worth was a little over a million dollars. 

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Getting a retirement job that would supplement my retirement income and bring in more money to the household. I didn’t put in papers until the background investigation of my new was completed, knowing how there are always delays.

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I was planning to retire on 06/30/2022 to have an even 24 years of service (I had reached my financial goals a few years earlier). However, in early January of 2022, when it was clear inflation was skyrocketing and the 2023 COLA would likely be a significant amount, I ran the numbers and decided to move my retirement up to take advantage of three additional months of the COLA increase. One of several reasons to wait until March instead of retiring immediately in January was being able to maximize my 2022 TSP contributions during those three months.

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 After doing the math, I determined I was working for less than $20 an hour.  It was not worth it to me.

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I left 3 months before my 1-year extension was done because of a job opportunity.

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I was approximately 18 months from eligibility, and I started playing around with the FERS calculator that Barfield has on his website.  That was the first time that I realized that it was financially possible for me to retire at eligibility with 100% of net take home pay, including a safe 3% withdrawal rate from my TSP.  Following the barbell strategy, I promptly protected almost 7 years of withdrawals in the G Fund (80 C/20 G).  Up to that point, I had been 100% C Fund my entire career.  Without hard numbers, most agents just assume that they need to work until mandatory or beyond.  Over the next two years I must have run those numbers about 100 times to make sure I’d done it right.  Of course, all of this assumes that you can accurately estimate your high three.  I got very detailed on this, even using the exact date of pay periods etc.  According to my agency’s estimate, I’m within a few cents.

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When I did the math and realized it didn’t pay to stay (for 1% a year)

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About 7 years before eligibility, I decided to start learning about our retirement system.  The more I learned, the more I realized it didn’t pay to stay past eligibility.  So I made my mind up years before I was eligible.

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The day in early 2021 when my wife, a regular FERs FBI employee, received a VERA-VSIP buyout offer. We were already contributing the max to our TSPs. I had already done all the calculations, so I knew where we needed to be - we would have had to wait another 5 years - the VERA-VSIP buyout offer changed everything!  My wife received her full retirement benefits & she will receive the Social Security bridge beginning January/February 2023.

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There was no one financial reason which led me to retire although I did go over my numbers ad nauseam for a few years leading up to my eligibility date…and because my husband said I could!

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Received a significant raise, (coming back as a GS-12, Step 10) and still had the opportunity to continue working with the Bureau and continuing the mission.

Specifically regarding the retirement process, what would you have done differently?  (Retire earlier/later, save more, learn more, file earlier, talk to more people, get more estimates, etc.)

Looking back, I may have retired as soon as I was eligible to do so. Staying longer and maxing out just did not make much sense for me.  However, I believe that I needed that extra year beyond my first eligibility date to emotionally detach/withdraw from my career. Of course, I could have saved more- but each person must determine when they have enough and when they have had enough.

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Learn more about how TSP and Retirement works when I first hired on with FAMS. If I had known or been given good knowledge about those things I would have maxed out TSP in the beginning and not waited until 10yrs into my career.

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I would have saved more, you can never have enough in the bank to ensure minimum financial stress. 

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The retirement process was smooth in the USMS.  Understand it is your own responsibility to handle to your finances; depending on the Agency to decide for you is not the road to success.  Dan and Chris really help in the LEO arena with the fine points, but in the end, you either have been maxing the TSP or not for your career, and that is the one input you 100% control that makes all the difference in the end.  And stop trading the TSP and stop listening to Jim Cramer on CNBC.

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I would not do anything differently.

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The process at my agency went smoothly, and the annuity started very quickly.  I don’t think I’d have done anything differently.

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I am sure I will come to the conclusion as others I know that have retired and say I should have done it sooner.

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I wish i would have discovered Barfield Financial a lot sooner than I did.  I wish I would have maxed out my tsp and put everything in the C fund since day one.

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I really tried to educate myself on the retirement process, such as reading Dan Jamison’s FERS Guide over the years, attending seminars, finding your newsletter, etc, but there is always more to learn—I was asking people a lot of questions my last week.

Ideally, I would have taken more time to let everyone know I was retiring and not have to scramble the last two weeks. I was scrambling at the end to return property, transition things to people who would be taking over responsibilities, etc.

Of course, I wished I had saved even more in TSP, but always had been in for at the minimum 5% (sometimes more), but as I had lived in two of the most expensive housing areas (San Fran and NYC suburbs), wasn’t easy to do with 3 kids. I was able to buy property in San Fran and made a nice profit when we moved, which we rolled into our new home in NJ, which has also increased.

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I don’t think I would do anything differently. The timing was really good for me. Sure, I could have retired nearly four years earlier, but I was working a once-in-a-career case until 10/2019 (when the subject was sentenced) and I enjoyed traveling and sharing my experiences from that investigation over the last three years of my career (I was asked to come back to the Academy three times after my retirement to do presentations). And as a long-time saver, I admit it was hard for me to finally pull the trigger. But I’ve been following Dan Jamison’s advice since early in my career (and Chris Barfield’s since he started providing his excellent advice and  resources). I talked to everyone I could think of about the process and retirement in general. I felt well-educated on the process and it ended up going very smoothly. The retirement calculator Dan provided, and now available through Chris, ended up being very accurate. I referred often to Chris’ white paper about being able to afford to retire early since he published it. That analysis and the financial calculations eased this saver’s mind! Nine months into it and I have absolutely no regrets or concerns.

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If I could redo anything over, I wish I contributed more to the Thrift in the early years.  However, knowing the salary of Grade 10, step 1; it still would prove to be difficult.

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Probably should have retired earlier and made the money from private sector, possibly when eligible. Lots of private sector jobs available. But as mentioned I really loved what I was doing. Should have saved more, not taken out loans and talked to you sooner!

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My last office was an RA so I drove my retirement packet to our Field Division HQ so the SAC secretary could FedEx to HQ.  I should have sent the FedEx package myself because the secretary forgot to send it.  My retirement counselor told me that she hadn’t received it, I inquired with the secretary, and she finally shipped it.  A few days later my counselor said she still hadn’t received it despite me telling her the tracking number and who in her department signed for the package.  Luckily, I had made multiple copies for myself, so I sent another one, which she finally received.  Moral of the story?  Do it yourself, then check, and double check…

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I can’t think of anything. I had done so many calculations and all the numbers were within a few dollars of each other. The timing was dead on. Looking waaaay back, I would not have moved my money to the G Fun in 2008 - I should have kept it where it was & rode that storm out. But I was far too conservative for that. Any current FBI employees I talk to now I tell them, TSP, TSP, TSP - you won’t be able to retire without it…unless you just move onto another job - that’s not retirement.

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Pinch Me! Summer retirement came with many activities and events which kept me very busy. The realization of actually being retired took months to sink in. Even after seeing pay from “Other People’s Money” (OPM) in my bank account, it was still surreal. I don’t know when I had the time to work! Retirement life is fantastic!

How is actual retirement compared to how you envisioned it to be?  (Better/worse/more boring, etc?)

Retirement has been a blessing! As I type this response, today is Day 94 of retirement for me. In that time, I have taken an international vacation and a domestic vacation. I have slept in a time or two (I have always been an early riser so that likely won’t change). What’s best about retirement is having flexibility. I am able to join friends for lunch at the spur of the moment, watch Netflix etc. and make a doctor’s appointment for any time I like.

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Retirement is better than I hoped.

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The house we purchased needed a lot more work than was expected.  I have been busy working on the house and managing the contractors that have also been working on it.  One of the downsides of having a wife with a mobility agreement is we do not have a paid off house going into retirement, that sucks.

I have signed up for and am taking an OSINT Investigations online class and am working to improve my leather working skills (I make CCW gun leather, padfolios, notebooks, wallets, belts etc.  I starting to learn how to make purses and bags and how to draw my own patterns.)

I am trying to exercise more but honestly find it has  been hard to get motivated.

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Retirement is great, each day flies by.  Not working and not bored at all.  Life is good.

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I decided to take a year off after retirement, but it is challenging.  I have a ton of stuff to do but it often seems like busy work.  Owning a home for the first time in my life is also a big adjustment. 

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Retirement is actually really close to what I thought it would be.  Luckily I don't get bored very easily. 

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So far so good (two weeks), but it hasn’t totally sunk in yet that I’m out—I’m still looking for my badge and creds sometimes. The decision to retire was tough, almost agonizing—I felt like the dog that chased the car, caught it, and wonders “Now what?:” But when I walked out of the building for the last time as an agent, I felt I had accomplished something worthwhile and was leaving on top. I also felt a huge sense of relief, because there was always a feeling while working that the sword of Damocles was above you, and you were one step away from losing it all because of a poor decision, bad luck, lack of Bureau support, or any combination of those things.

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It has been an awesome nine months! I’ve been traveling with my wife and kids. I have one son left at home (junior in high school), so I volunteered to be the assistant high school cross country and distance track coach on his teams. I run with the team almost every day. His team finished runner up in 6A and the girls’ team was the state champion. I trained for and ran a marathon in October with two of my college-age sons and qualified again for the Boston Marathon. I have golfed more than I have in many, many years. I’ve been traveling often to visit and help my aging parents. I helped my in-laws move from their home in the northwest and moved them into our basement apartment. I highly recommend getting paid (annuity) to do all these things! For me, it has been good to stay busy and find purposeful activities to pursue.

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I am still in beginning stages of retirement. However, It is great not having to get up with an alarm clock, not worrying about being called in on the weekends, and after hours and constantly being concerned about my cases.  Currently, I am busy doing a whole lot of nothing.

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Better than expected.

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Retirement is amazing!  I think I’m busier now then when I was working full-time but it’s my activities, my side hustles, on my terms.  I spent two weeks this fall clearing out our tree line and cutting firewood.  It was sublime.

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Better.  I will likely go back to work, but on my terms

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Retirement is everything everyone says it is.  It is one of those few things that live up to the hype 😊

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Retirement is great. There are days I’m not sure what I’m going to do, but I always turn out to be busy at the end of the day. We bought “the RV and truck” and have been doing some traveling, including visiting our daughter at college.  Just having the freedom to do this whenever we want is awesome. I just recently picked up a part time job to make some side cash - it’s extremely flexible & no heavy lifting. I didn’t want anything like my prior job - court deadlines, dealing with lawyers, evidence, firearms, etc. The gears in my head are still not meshed to not trying to get all my project finished on Saturday & Sunday - but leaving something for the week. Also doing some volunteer work, helping to rehab inner-city homes for African refugees - ironically, some of the same neighborhoods where I used to work.

If you don’t mind sharing, what was your exiting TSP balance?

While I won’t share the exiting balance, but I will say that I am far from being one of the coveted TSP Millionaires. My exiting balance was somewhere in the middle (less than some TSP participants, more than others).

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$800,000

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$725,000, split following your guidance.

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2.1 million TSP on separation date, wild swings since as inflation and the fed are doing their thing.  Not trading and at least 80% stocks is the key to a higher balance.

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0ver $875,000.

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North of $1.3 million, plus another $300K in IRAs.

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Over 1 million.

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$ 650 K

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A little over $ 1 million, down from a high of $1.1M. I had always been heavy in C but moved a lot out of C last November to G, although I still have about 40% in C and put all my new money in C last year. I know you shouldn’t time the market but my financial advisor suggested we get out of some funds that would be affected by inflation. I also felt bad times were coming and didn’t want the shock of losing maybe 30-40% of my balance, even if on paper.

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My balance on 03/31/2022 was $1,475,228 ($1,502,140 on 12/31/2021). Like everyone’s balance (unless 100% G Fund), mine dropped and fluctuated significantly throughout the pandemic, but I haven’t panicked. Two years ago, during the pandemic and as I began seriously considering retiring, and based on Chris Barfield’s Barbell Strategy advice, I moved about 25% into the G Fund after a big upswing in the market. Otherwise, I let it ride in the C and S funds for nearly 24 years. I didn’t panic during the great recession – even when my balance in 2008 dropped below $100,000. I kept buying and stayed the course. I used those early raises to increase TSP contributions until I was maxing out after just a couple of years. Then, in 2007, my wife (stay at home mom of six during my entire career) and I started maxing out our annual Vanguard Roth IRA contributions and invested in their S&P 500 fund. On 03/31/2022, our combined Roth balances were over $400,000. Our combined retirement account balances were almost $1.9 million at my retirement. If a single-income family with six kids can do this, so can you! We paid off our home loan just before I turned 50, so we retired with no debt. The only debt we ever carried was a home loan (never financed a car; credit cards were used for convenience only).

As an example of the time value of money and to show how beneficial it is to maximize retirement contributions and not try to time the market, here are my year-end TSP balances since 2006 (rounded to the nearest $1,000) (I had to do annual financial disclosures beginning in 2006, and I kept a spreadsheet of my year-end assets and liabilities): 2006 ($139,000); 2007 ($168,000); 2008 ($122,000); 2009 ($185,000); 2010 ($243,000); 2011 ($266,000); 2012 ($336,000); 2013 ($479,000); 2014 ($526,000); 2015 ($546,000); 2016 ($646,000); 2017 ($812,000); 2018 ($785,000); 2019 ($1,071,000); 2020 ($1,234,402); 2021 ($1,502,140).

The balance dropped just two years of those 16 (in 2008 & 2018). It will drop in 2022 absent a major recovery in the next six weeks. I’m using Chris’ Barbell Strategy to make it through this recession and future down years to avoid selling stocks during down periods.

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My TSP balance is over 500k.   Dual TSP’rs we have over 1 million.

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I made it to 1.1 mil prior to my retirement, would have been better if Trump had been reelected. I did my part!

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My highest TSP balance was $1,157,000 in early 2022.  At retirement on Aug 31, 2022, it was down to $961,000, at age 52, with 26 years of contributions at 5% all in the C fund.  Many of my colleagues asked if I was scared to retire with the market down.  I said no because at age 50 I went 80 C/20 G and have almost 7 years of withdrawals protected.  I sleep like a baby at night knowing that.  After retirement, I moved my C money to the S&P Index fund at Schwab and still have my TSP G.  As of today, Dec 1, 2022, they now total $1,055,000.

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$1.1 mil 

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$1.1 million

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Our combined TSP balance is around $1 million. We just moved 95% of it to Schwab, leaving only enough in TSP to cover one years of withdrawals. As soon as we’re 59 1/2, it’s all going to Schwab - goodbye TSP!

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$875,000 which was swiftly rolled over to an IRA with a small portion to remain in the G Fund.

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$1,000,000

 

 

 

 

I know we could always use more money, but specifically, do you think your annuity, supplement, and TSP are covering your expenses ok?

At this point, I am still receiving interim annuity payments. I have yet to receive the FERS Supplement and have not tapped my TSP account yet.  The interim annuity payments have covered my expenses.

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Absolutely, plus I haven’t begun using TSP yet.

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Yes and will be better in four years when I receive my military reserve retirement.

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If anything, we are overfunded.  I maxed the TSP each year and did a Roth IRA on the side + HSA for 8+ years, and the market has been good.  Annuity and supplement cover mandatory costs, TSP is for the extras so far.

I have been 100% C-fund the whole ride, never traded.  I kept 4 years of expected expenses (beyond the annuity and supplement) in T-Bills to be able to mentally resist trading the TSP when the market was crazy.  The plan, similar to Chris’s barbell approach is the T-bills cover us if we have 4 bad C-fund years and in most scenarios, the C-fund historically comes back way before 4 years.

Don’t retire and go 100% G fund.  You or your spouse will live another 30 years on average and you have to stay invested in some percentage the rest of your life or inflation will get you.

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For my first year of retirement, I plan to live on the annuity and supplement only, and not draw from my TSP. I want to wait till stock rises before starting to draw from my TSP. My finances will actually be a litter better than when I was working, even without the TSP and even with inflation, because I’m moving from a pricey area (Washington, DC) to TX.

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Yes, but I had to move from an overseas assignment back to the USA when I retired.  The expenses I incurred buying a house, cars, furniture, and other necessities was a real shocker, especially with everything being so expensive.  Maybe once I have my life more stabilized the pension/TSP combo will be enough.  Some part-time employment should be helpful too.

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Annuity, supplement and my savings are covering my expenses.  I have not had to dip into my tsp or get a job yet.  I have only been retired for four and a half months. 

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The annuity and RAS haven’t come in yet so I don’t really know, but I doubt it. There always seems to be a new expense no matter what we do. My wife works and it would be impossible for us to raise a family in NJ on one income—e.g. my monthly property tax payment is equal to my monthly mortgage payment. I don’t have any debt besides my mortgsge, but everyday bills have gone up significantly. I’m hoping not to touch the TSP in this down economy unless I really need it. I’m very pessimistic about a lot of things, including the economic future of the country, and my assumption is that everything will cost a lot more than I had planned, and there will be unforeseen expenses, so I think I will need to keep working as long as I can.

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I could “survive” on my annuity and supplement (later replaced with Social Security benefits) because I have no debt. But I don’t want to merely survive, so I saved and invested during my career to be better prepared for my family’s financial future. I retired with nearly $1.9 million in my TSP account and my wife’s and my Roth IRA accounts. Admittedly, high inflation, stock market turmoil and a recession right as I decided to retire isn’t fun, but I am comfortable with my strategy (including Chris’ Barbell Strategy—sufficient balance in the G Fund to avoid selling equities during down periods).

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I think and hope so.

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It would but I took a retirement job because I didn’t want to start using my TSP money as income, so I am moving it and investing it while I work for the next 3-5 years. The pension check is a bit less than the take home from the USMS.

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Because of the FERS calculator on Barfield’s site, I was able to accurately determine the gap between the FERS annuity+supplement and my working net pay.  I was also able to determine that I could fill that gap with a safe 3% withdrawal rate from my TSP.  Basically, with my FERS annuity payment, plus the supplement, plus my TSP withdrawal, I have equal net pay as when I was working full-time as a GS-13 step 10 SCE.  Any income I now make with consulting work or rental property is play money.

_____________

Yes

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My numbers put me about $20k short for the year without touching TSP.  I could tighten the belt and get by fine Or use TSP.  But I am working and so I have a huge raise over what I was making before since anything over $20k is a net increase.

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We are able to cover everything, including our RV and truck (both purchased used before the interest rates went up). As I stated above, I just picked up a part-time job, but that’s for fun money. My wife did the same - for meals, extra stuff when we’re out traveling. I calculated everything to match what our salaries were when we retired. The FERS/Social Security bridge is a set number & I use TSP to make up the difference. As our FERS increases from the COLA or my wife’s Social Security bridge, I reduce the amount we take from the TSP.

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My annuity and supplement adequately cover my monthly expenses with no need to touch my TSP.

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Just retired at the end of October so too early to tell.  Will have the RSP job in a few weeks and have no plans to touch the TSP for several years.

 

If you are in the private sector (or looking to get into gthe experience of job-hunting? Did you hire a resume service, or some sort of job placement consultant?

I obtained approval to serve as an adjunct instructor in addition to working for the Federal Government. I stepped away from this once my responsibilities increased in my full time job. Now that I have retired, I have returned to teaching. This allows me to do something that I enjoy and also puts a few extra coins (fun money) in my pocket. Having an established relationship with the Department Chair and a previous teaching history assisted me when I applied to return.

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I used a resume writing service (The Resume Place) when I was going after GS-14 jobs and have used that format since.  I do recommend the Resume Place.

Most if the job offers I have been receiving (I am not looking and do not have an active resume) have been from friends I have worked with in the past and from the NCIS Retired Association.

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Not working yet.  Still taking my gap year.

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I am not in the private sector and hopefully do not plan on joining it.

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Not looking for a job just yet.

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I was never on social media but you kinda have to be on LinkedIn/Indeed to find jobs or to have employers get a sense of you. I hired My Transition Advisors for $1499 to do my resume, cover letter, LinkedIn, and provide career coaching. Prior to using them, I had one preliminary interview for a job that was later discontinued. After using the resume they created for me, I had two interviews, and a second interview with a company that gave me a job offer, which I accepted. So in that sense, it was worth it, although it is pricey. You have to be able to translate “government speak” to corporate speak, which I am learning and tried on my own, but they were experts on doing. Networking only really helped after I did the first interview when a retired ASAC from my office reached out to my old boss who had just retired, asking about me.

_____________

I don’t plan to get another job.

_____________

Haven’t tried to find a job yet.

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I started applying for jobs in the summer of 2022 while I was on a 1-year extension, thinking I would retire if I got a job I was interested in and paid what I wanted to make. I found my job along with others I applied for on LinkedIn. I also looked on other job platforms. I started to look for a resume coach but ended up getting some good examples from prior bosses and did my own. Lots of competition, long waits to hear from employers and lots of in-person and virtual interviews. Patience and holding out for the job or location is key.

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I created a LinkedIn profile and that has been a huge benefit to connect with others who have already retired and network with companies, government contractors, defense contractors, who are looking for what we have to offer.  I set up a few different job alerts and I get daily notifications of jobs that might be a good fit.  I did not hire a resume service but I did consult with friends of mine at high levels in the private sector to give advice on my resume and what they like to see.

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I started my own business.  And I think a whole lot more people should do that, than are actually doing that.

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My daughter had just gone through the process of preparing her own resume, having graduated from college with a nursing degree. So like a good retired FBI agent, my wife & I used her resume as our go-by. I used Indeed & LinkedIn - found a lot of people I hadn’t heard from in a long time. Initially, I wasn’t sure what kind of job I was looking for, so I used the shotgun approach. Then my wife found a super-flexible job at the same hospital where my daughter works - described as a “PRN”, as needed, she picks the days she goes in. I interviewed for several insurance and bank BSA investigator jobs. All video, nothing in person. Convenient, but very different than 33 years ago (I was 6 1/2 years non-Agent, 27 years agent)!  Also felt like they would be very desk-confining, although some were remote/work from home. Ultimately, my wife found a PRN job for me at a different hospital, just down the road from our home. I haven’t started yet, still going through the “on-boarding” process.

What would you tell those considering retiring in the next few years?

Create a plan prior to retirement (say 2 to 5 years before). Use this time to reduce debt, increase savings and to practice living on a reduced income. It is good to know how it will feel to live with/on less.

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Downsize your home and expenses, start saving for cash retirement. It took me 7 months to get full pension checks from G. move to a state with no State income taxes.

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Get your estimates done; Get your TSP balanced right; Max out your TSP when you can; Retire as soon as you are elegible.

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Financially:  Max the TSP if possible, check out a High Deductible Health Plan for the HSA access and look at your monthly costs to see if you really need all the subscriptions you have ie: 6 streaming services, Spotify, a gym you don’t use, lawn service, and kick the kids off the family cell plan if they are working!  If you can’t kick the kids off your cell plan, please do not add their new spouses to your plan, make them independent!!!! 

Professionally:  Know yourself; if you have to have a retirement job to have fun, line one up.  If you want to take a year sabbatical and test drive retirement, do that.  If you want to float in the pool and drink beer, do that.  Point being, be honest with yourself on what makes you and your family happy and understand your next decisions after retirement are not forever decisions, you can change your mind and grab a job or quit a job at will.

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The last few years leading up to retirement may fly by very quickly. Mine did.  You will likely just know when it is the right time to go. Put the max into the TSP, if you aren’t doing so already.

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Prioritize the most important things in your life and make sure your retirement will match those plans.  You will still basically be the same person you always were, just with a different work situation.  Set new goals.  Exercise regularly.  Be grateful.  Be mindful of your family and loved ones; it’s going to be a transition for them too.

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Maximize your TSP.

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Get out of debt.  Read every single article at Barfield Financial. 

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Like most things in I learned, the reality is not as scary as you may think it is. I thought I would be an emotional wreck when I left, but I feel really good and felt I left on top and on my terms. Also, don’t wait for what you think is the high-paying dream job to leave; it might not come right away or ever, and you will lose time when you are more marketable in the private sector and lose time in the private sector you could use to your advantage learning new skills and understanding how the private sector works (which is way different from the government). You may have to eat some humble pie and start at a lower salary—the good thing is, you can start looking for a better job right away. I know in my new job they can fire me at will and my attitude is the same—I can leave at any time for something better.

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Review your finances and review Dan Jamison’s FERS Guide and Chris Barfield’s information (hopefully you’ve been doing that for years). Run the numbers on the retirement calculator or hire Chris to do the comprehensive view. You might be surprised how the numbers add up. I helped a friend run his numbers shortly before I retired and he was very surprised with how little he’d have to earn in a post-federal LEO job to make up the difference between his current salary and his annuity. If you are a saver, like I am, it might be very hard to see the end of TSP contributions and matching contribution, ROTH IRA contributions, etc. But when you no longer pay OASDI, retirement contribution, as much in taxes, etc., you can do it! Retirement is awesome!

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Do it! It is worth it. Unless you like working for peanuts.

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Start working on your resume earlier, start applying for jobs 3-6 months out if you are interested in working and talk to you partner about where they are willing to go with you to live and work if you are interested in moving or the jobs and money aren’t close to home. Of course, read your newsletter, protect your investments earlier and vote republican! LOL!

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Life is short.  I have seen too many friends of mine pass away at a young age.  One friend of mine passed away literally two months after retirement.  Take nothing for granted.  In retirement, it is said that you have your “Go Go Years”, “Slow Go Years”, and “No Go Years”.  My wife and I are in our go go years and I plan to use my TSP to do the things that we want to do, while we still can.  I often hear colleagues say that they don’t want to touch their TSP.  That always makes me wonder, what are you saving it for?  Everyone’s different, so just because it works for me doesn’t mean it’ll work for someone else.  But I plan to use TSP money to go to Antigua next week.

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Buy the FERS guide and subscribe to Chris Barfield’s newsletter, or another source of information that you value.  Bottom line, get to know the retirement plan.

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Get on it. It might take longer than you expected.  Learn, learn, learn.  If you can’t comfortably explain the retirement system to a coworker, and talk through the various choices you need to make at retirement, you probably are not maximizing your benefits.

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Stick with your agency regardless of whatever nonsense is going on. If your current job/boss becomes unbearable, find another job within your same agency. I say this especially for the FBI folks. I feel your pain! Show up on time, do your job well, stay out of office politics, find the GOOD cases & let the bad ones die, don’t be the person walking around the office all day, chit-chatting or in the gym, then saying you had to stay until 8pm to get their work done - everyone knows what you’re doing! Avoid the bureaucracy as much as possible. Max out your TSP. Do your retirement calculations using different calculators & plan, plan, plan. Plan for the fact that state & Federal taxes will be withheld & you need to back those %s into your numbers. Your FEHB payments will be withheld monthly, eventually. How are you going to pay bills using your AL check and 1/2 of your monthly FERS annuity until OPM finalizes your annuity after 8 months (my experience). You may have to reach out to your Congressional rep. to have them give OPM a kick to get your FERS annuity completed (I did). TSP withholds Federal taxes but not state/local - you’ll have to handle that yourself, making quarterly payments. Are you going to do your taxes yourself or find a tax preparer that knows the Federal employee retirement system (part of your annuity is not taxable because it’s a return of you own $ & part of the LEO health benefits withheld is credited back to you) - if you have to explain it to them, find someone else.

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Attend a retirement seminar if you haven’t already done so and take notes. Get a retirement estimate done and routinely evaluate your short-term and long-term financial goals so you’ll be absolutely confident you can retire when you’re ready.

_____________

Prepare, prepare, prepare.  Read everything you can from Barfield and Jamison.  Get the estimate from your agency and do the retirement spreadsheet on Barfield’s website.

What would you tell those 20-somethings that are just starting their federal careers?

Start saving as soon as possible and do not stop. Automatically save any wage increases. Lastly, if at all possible, refrain from taking TSP loans.

 
MAX TSP, live below your means. Just because the Jones’s have boats/toys doesn’t mean it’s the right course of action. I have friends at work who bought all the toys for them and their families and now have no TSP and can’t retire or will be forced to retire and then go into a full-time job post retirement.

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You have to think about 25 years from today not today.  Maximize your retirement funds ASAP.  Think about the grade you retire at and DO THE MATH.  GS-13 retirement is very different from GS-14 or GS-15 retirement.  Ensure you are doing whjat you want to do in your career – BUT – also think about what you want to do in retirement and make sure you have enough resources to do it.

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Each agency has lots of different job options internally, if you’re not happy where you are, get to somewhere that works for both you and the agency.  Get educated by reading Chris and Dan, but in the end, you are responsible for your own finances.  In your 20s, get an HSA as you in general do not use many medical services and the HSA is a triple tax benefit.  Max the TSP asap and don’t trade.  Chris has a barbell plan, others have other plans, make a plan and stick to it.  Get out of FEGLI asap after you get some 20-year level term life on board, much cheaper over a career for more life insurance.  Live below your means, when possible, you probably don’t need the latest Tesla in your 20s. Go to every kid’s game you can, you cannot get that family time back.

_____________

Put the maximum in your TSP.  Don’t borrow from your TSP.  Put your money in the C and S funds and just leave it alone. Don’t stall at a certain grade…keep advancing

_____________

Live within your means.  Max your TSP from day one and invest in the C fund.  Learn about how your retirement system works and plan accordingly.

_____________

Maximize TSP and put it all in C or S or a combination of the two.

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Max out your tsp.  Put it all in the C fund until you are getting close to retirement.

_____________

You need to educate yourself on the retirement process, because God knows the Bureau or whatever agency you work for ain’t gonna do it for you. You need to feed the TSP as much as you can, but at least 5%.  Buy Dan Jamison’s FERS Guide, read the Barfield Report. You also need to learn how your agency handles the process.

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An old boss used to say FERS is telling SCE’s to get out at 50 and he’s right; it’s much better to start at 50 in the private sector and see if can move up to a better-paying position, rather than wait maybe a year or two hoping to retire from the government to a dream job that might never materialize.  Also, good to have recent retirement experience.

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Don’t get FEGLI life insurance. It is super expensive. Opt instead for term life insurance if others are dependent on you financially. Sacrifice and start maximizing your retirement contributions as soon as possible (see my previous input on TSP balances over the years showing the time value of money when investing early and regularly). Buy Dan Jamison’s FERS Guide on Amazon and review all of Chris Barfield’s advice regularly. I feel very confident in my knowledge of federal benefits, but I was always reminded of things when I regularly read their advice. I really like Chris’ Barbell Strategy. I was thinking somewhere along those lines, but didn’t have a specific strategy in mind before I read his advice. I am now implementing it.

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Contribute as much as you can in the Thrift. Definitely at least the 5% to get the matching amount. Take advantage of all the job has to offer. Enjoy the ride.

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Somehow try to make financial sacrifices when young and invest the maximum amount possible, don’t borrow from your TSP unless life happens and you have no choice, read your newsletter and don’t try to beat the market by making too many moves. Be aggressive when young and slowly get conservative with what you have earned. Remember it’s not real money until you take it out.

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I’m no financial expert, but I hear that Roth is the way to go.  Also, I was 100% C Fund until I turned 50.  I don’t think there’s any way to get the amount of money needed in retirement by investing in the G Fund.  I set it up and forgot about it.  I don’t think I ever started logging in and looking at my balance until I was about 48. 

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Save as much as you can in the TSP

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If I were starting again in my 20’s, I would do the following:  100% in the C Fund Roth (until I was in a higher tax bracket); start a Health Savings Account and max that out; and keep debt to a minimum.

_____________

Much the same as above, but they have a lot more time -

If you’ve decided you want to be a U.S. Marshall, a DEA Agent, or an FBI agent, then be the best one you can be. Also know, there will be storms you must weather - it may be a co-worker, a boss, or some nonsense inside the D.C. beltway - this too shall pass! Don’t “you” be the problem. Don’t think it will be any rosier if you leave and go into the private sector - that’s a whole new set of problems. There are highs & lows. The co-workers, friends, squad-mates you surround yourself with lift you up & carry you, & you’ll do the same for them. Many of my co-workers use the phrase - “I’m tired of the circus, but not tired of the clowns” - so true. I miss the camaraderie of my co-workers, but I don’t miss the bureaucracy, whether it comes from the government or the criminal defense. 

That being said, stick with your agency regardless of whatever nonsense is going on. If your current job/boss becomes unbearable, find another job within your same agency. Be the good employee. Don’t be the person that says” No, it can’t be done”, or “We’ve always done it that way”, but say, “Maybe we can’t do it that way, but we’ll find another way.” Show up on time, do your job well, stay out of office politics, find the good cases & let the bad ones die, don’t be the person walking around the office all day, chit-chatting or in the gym, then saying you had to stay until 8pm to get their work done - everyone knows what you’re up to! Avoid the bureaucracy as much as possible. Max out your TSP. You won’t be able to retire without it!.

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Max out your TSP; follow Barfield Financial; live beneath your means; always remain humble and kind.

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Max the TSP and put it 100% C Fund and keep it there until you are close to retirement.  Lose your TSP password.  Enjoy the ride.

What resources did you use to get retirement/post career guidance?  And would you recommend it to others?

First, I hired a financial advisor early in my career. I was aware of my limitations and recognized that I would not be able to keep up with my finances so I opted to pay someone to do it for me. Next, I subscribe to podcasts (FedImpact, For Your Benefit, Your Turn and Sound Retirement Planning). Lastly, but definitely not least- I read Chris’s newsletter and social media posts.

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Chris Barfield, Dan Jameson, and any other articles I could read. My agency FAMS, did not prepare or give anything on retirement in the first 15yrs. Talk to other people you’d be surprised on what information you can learn.

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My Agency offered retirement seminar; FLETC offered/recommended retirement seminar; Navy Active Duty retirement prep; Dan and your products; Asking questions via the NCISA to people that had already retired.

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Chris and Dan hit the highlights.  Don’t listen to the traders in the squad bay.

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Your Newsletter, Chris.  Comments and articles in FedSmith.  Information on the OPM website and information provided in the GRB platform

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My agency had really great mid-career and late-career retirement planning courses which were fantastic.  I felt fully informed about what I was about to do when I sent in my retirement application.

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Dan Jamison, FERSGUIDE

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I used Barfield Financial mostly.  I highly recommend it.  I also used the work estimates to ballpark what I would be making in retirement. 

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I have been reading Dan Jamison’s FERS Guide for several years. Found the Barfield Report a few years go. I also relied on info from recently retired Agents. The Society of Former Special Agents of the FBI gave a great post-career seminar a few years ago that I found very valuable.

I also had a retirement analysis done by a private group that looked at my numbers and gave me advice about what to do with FEGLI, etc.

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Not applicable as I don’t plan to work again.

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My agency proved to be very resourceful. It helped a lot with providing estimates. I also read Jamison’s literature and Barfield’s. 

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I was in many TSP email groups and received different newsletters then figured out who I wanted to listen to too. I used LinkedIn for a lot of career resources. I also had a few great bosses who were mentors to me. Find those people in your life.

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I used Dan Jamison’s FERS Guide and Barfield’s site (papers, calculators, etc) extensively.  I wouldn’t be where I am today without that information.  I would HIGHLY recommend both and I say that often to anyone who will listen.

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By far, the single greatest resource out there is Dan Jamison’s FERSGUIDE.  Most agencies would do better if they stopped their mediocre retirement seminars and simply bought Dan’s book for every employee.

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I used Dan Jamison, and Chris Barfield - I would absolutely highly recommend both. In certain instances, for specific unique questions, I used The Google. As I neared retirement & wanted investment advice for my TSP & post-TSP advise, I used my Schwab rep. - would definitely recommend Schwab. My wife & I have had face-to face meetings and video call with them. Like night & day compared to TSP.

 

 

What advice do you wish people would have given you when you first started your government career?

It’s a marathon, not a sprint. Slow and steady wins the race. Save consistently and understand that you are playing the long game.

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It’s just a job, not a life. Start planning for retirement on day one, look after yourself and family as the job does not care about either.

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You need a retirement seminar within the first five years of service.  Government across the board does a crap job of letting you know what your benefits are.

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Your frontline Agent/Deputy/Inspector time is the best time, enjoy it.  First line supervision sucks, but that is where you learn.  Second line supervision is much better.  When I first became a Chief there were 5 divisions at HQ and you knew all the people there and they made decisons, now there are 14 divisions and no one can give you an answer.  Enjoy the people you are working with; you are all in the clown car together so at least try to have fun along the way.  If you can’t max TSP early, try to increase it by your annual COLA each year, before you know it you will be maxed and on autopilot for a nice retirement.

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Put the maximum allowed in the TSP.  The C fund historically is the best.  During your earning years, don’t put much in the G and F funds.

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Be patient.  Enjoy the ride.  Enjoy the friendships you make.  You’ll have plenty of money, plenty of vacation, and plenty of everything you were looking for when you signed on for this career.  It WILL work out the way you hope.

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I was given it, put everything in the C fund (there was not S fund when I started).

I wish someone told me I can't time the market and to just max out the C fund and don't move it around. 

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You need to plan your career with some goals in mind, learning new skills every year, and not be satisfied with the status quo. For example, I spent too much time on one squad where I wasn’t learning new skills and was, in retrospect “running in place,” although I convinced myself I was doing my duty and being a good team member. I lost out on opportunities other people took advantage of. Don’t climb the ladder just to move up, but don’t be afraid to take a formal leadership role either. And if something isn't working for you, make a change

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I got some really good advice from my father-in-law about life insurance (get term life insurance instead of the much more expensive FEGLI) and retirement savings (max out and stick with your plan). I was fortunate in that regard, so I have tried to pass that and other lessons learned to my peers.

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I wish I contributed more to the TSP earlier in my career.

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That 30 years goes by in a blink, stay competitive even if you love what you are doing. Get your degree if you don’t have one! Promote early and often, if you don’t someone else will and they will be your boss even though they know less than you do, and you won’t be able to complain about it.

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Good luck and do your best.  But at the end of the day, the job will easily replace you when you quit or retire.

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This is the advice I received day one on the job:  “All the heroes are in the national cemetery, the paycheck comes every two weeks, and 100% in the C Fund.”  Seemed like a strange thing to tell a GS-7 at the time, but it turned out to be good advice.

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Max out your TSP contributions as soon as you can and put it into C-S-I. Don’t look at it until you’re about 5 years from retirement. Take advantage of opportunities your agency offers you - the government practically gives things away to you - training, travel, ability to move to somewhere you’ve never been. I grew up in Pennsylvania & had the mind set I never wanted to work in a big city. 33 years later, I’ve lived & worked in Philly, Tampa, Quantico, El Paso, San Diego, D.C., Oklahoma City, and lastly, Kansas City - what a ride!

Anything else you would like to share with current employees? (please be as free as you want here. They WILL benefit from your advice).

You work hard for your money.  Invested properly, your retirement funds will work hard for you!

Yes, saving is important. But, be sure to enjoy some of your earnings as well.

  _____________

Start learning and planning for retirement on the first day. I was told the first week I got hired with FAMS to put 5% into TSP because the G matches 5% and put it in G Fund. Nothing else was mentioned about it. After 10yrs of that I was talking to a fellow employee who was getting ready to retire who had over a Million in TSP, he educated me on my retirement and TSP, from that day forward I concentrated on maxing my TSP and learning as much as possible about my retirement. I left with $800k in TSP while married and raising 4 kids. I didn’t buy boats, RV’s, Motorcycles, or any other toys like that. We went on family vacations and my family never wanted for anything.

Remember it is just a JOB, no matter how much you are told how great and valuable you are to the agency, it is just a smoke screen to get you to keep putting more effort than the agency puts into you, thereby taking away from your family time you will not get back. And you will be replaced the next day and forgotten about.

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If you leave your retirement up to the government, you will be living on the street.  Take charge of your retirement the same way you took charge of your career.  Spend 25 years preparing to retire, not rushing the last six months trying to figure it out.

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Keep a work life balance the best you can.  The time goes fast, but even faster for your kids.  Don’t miss a moment with them.  In the end time is the most important thing, we talk about money and TSP because we can quantify it, but time is the most important thing, spend your time wisely.

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Your health is your true wealth.  Take care of yourself. Make time for fun and for loved ones.  Don’t let work stress you out too much as it can effect your health.

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Anyone who spends the best years of their life in public service is to be commended.  You are a national treasure.  Government employment has a lot of quirks, annoying red tape, unfairness and other factors that make us all groan and complain from time to time.  Don’t let that nonsense distract you from the nobility of your career, no matter what you do for Uncle Sam.  You will very likely look back and be very proud of your work.  I would do it all again if I could, and I wouldn’t change a thing.  Totally worth it.

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Do not go to work every day wanting to retire.  It goes by quicker than you think.  I still can recall the day I started my government career on October 19, 1992.

 _____________

Don't let the job define who you are.  Debt is your enemy. 

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Learn about the retirement process and the various options from the experts. Do it as earlier as possible.

If you need a retirement job, you need to start looking a year before you think you need to retire. It’s doubtful they will throw a million dollars at you just because you are a retired Fed unless you are way up the food chain.

_____________

Be more aggressive with TSP the earlier you are in your career.

If you are unhappy where you are working, and hate coming in to work, hate your supervisor, etc., and assuming it’s not because of you, do whatever you can to change squads, offices, etc. Don’t let emotional appeals to “the case,” or “the squad,” keep you somewhere that’s not working for you and making you miserable, there are always more cases and more squads. Enjoy your career while you can, be proud o serve the American people, and move on when it’s time.

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Enjoy life, it is way too short.

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Just to assess the options of retiring when first eligible compared to going to mandatory and don’t sell yourself short your experience is wanted and valuable.

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For the first 25 years of my career I was in Los Angeles which is obviously a high cost of living area.  My wife and I needed to make hard financial decisions because we wanted to buy a house and we wanted her to be able to stay home with our children.  I was never able to max out my TSP contributions because of these competing demands for a finite amount of money.  If you can max out your TSP, great!  But I do want people to know that it is possible to have a $1 million TSP balance based on 5% contributions of a GS 10-13 SCE.  However, I need to quote Barfield here, “personal finance is very personal”.  Don’t take my word for it, do your research, get professional advice.

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This is a small thing really, but it tripped me up and I considered myself pretty well educated on the retirement program:  The health FSA.

You must use any money in the FSA for reimbursement for medical services that were rendered PRIOR TO YOUR RETIREMENT DATE.  I thought I had the entire calendar year lol.  About a $1K donation to Uncle Sam.  Oh well, easy come, easy go.

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Invest in yourself.  Don’t rely on the government to take care of your retirement.  You HAVE to be proactive.  I don’t care what age you are, there are things you need to be doing RIGHT NOW.  This job is not your life, it’s a portion of your life.  Don’t live for the job. It’s literally just a job.  It may be your dream job, but it’s still just a job.  Just like bagging groceries or slinging coffee at the drive through—you are trading your very valuable time for money.  Never forget that point.

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Do not let the job become your entire identity.  Pursue outside interests and develop relationships away from your agency.  Enjoy the time in the position and realize it does not last forever.

The End.

To the Class of 2023—good luck. Can’t wait to hear from you!

-Chris