Class of 2023

Time marches on. Here we find ourselves again at the end of another year. And an article being written, not by me, but by you. The Retiring Class of 2023. This is always one of the best articles each year. Your coworkers appreciate you writing it. There is always apprehension and anxiety when you are about to make a life change this drastic. You go from doing the same thing for 20, 30, or even more years, to all of a sudden NOT doing it. As humans, we don’t handle change well.

But what helps us is seeing those that went right before us. And talking to them. And finding out, hey, it’s not that scary. In fact, it’s waaaayyyy better than I imagined. This is a great source of comfort as we cut ties with Uncle Sam’s cubicle army, and go out into the big, wide world.

This is long. I can’t help that. Nor do I want to. I don’t cut you short. You earned the right to say whatever you want. And to type in poor grammar. And to misspell words. I don’t edit this in any way. These are your words to those coming behind you exactly how you sent them to me.

Each year, there are certain themes that keep coming up. Looks like most of the respondents this year are from law enforcement. One thing that is consistent year after year is the encouragement to put as much into your TSP as possible, as soon as possible.

Please share that advice with your younger employees!

Enjoy. Post comments.

(NOTE: Some of you sent me the questionnaire back in a format I can’t open. Some of you haven’t yet sent the questionnaire back but said you will. Both of those are fine. I will continue to update this article as I receive new responses. Or re-submitted responses. So you haven’t missed the deadline. I just have to get this thing out.)

[Pomp and Circumstance begins to play….]

Without further delay, by the power vested in me through my own initiative and just cause I feel like it, I present to you the Class of 2023:

 

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

 

 

I retired 4 years later than when first eligible at 50. I joined the SWAT team at 44 and told myself I wanted to complete a 10 year career on the team as long as I continued to perform at the level needed.

**

I retired 9 months after eligibility.  I became eligible when I turned 50 and had been thinking about post-ATF careers.  Many of my colleagues left to join the private fire investigation world (insurance companies, etc.), but I wasn’t sure I wanted to dig out fire scenes anymore.  I knew I’d consider it on the side, but I wanted to go into a field I had the opportunity to experience as an ATF Certified Fire Investigator: instructing.  After making contacts at the university where I currently work, I applied, interviewed, and got the job.  Shortly after, I clicked the “button” and ultimately retired on June 30, 2023.  This allowed me to have a little over a month of “retired time” before my next career began.

**

I left at first eligibility at the age of 47 with 25 years (LEO). I always thought I would stay until 50 but had the opportunity to return as a rehired annuitant with a salary offset wavier. It was an opportunity that I couldn’t pass up.

**

I retired at age 54 with over 27 years of service, so after eligible but not mandatory. An opportunity came up and I was appointed to a paid part-time board position. It has a minimal time commitment of a few days a month and with my pension and this paid position I am making more than when I was working full time. That is something that I just couldn’t pass up. This was enough to get me out the door and I couldn’t be happier with my decision.

**

Later because I truly loved what I was doing – running two squads investigating all criminal and national security matters. Hit the seven-year term limit and forced to leave that position. With my dream position over, I knew it would never get any better. It did not make sense financially to continue. Was looking for a position outside of the government and received an offer. Was not going to retire without another job. Additionally, to continue to receive GS-14-10 LEO pay, I would need to work away from my family which was not desirable.

**

I retired 5.5 years following first eligibility.  I crossed the “KMA” threshold while mid-tour in a European Legal Attaché posting.  I elected to extend that tour twice.  In total, I served 8 of what should have been my highest earnings years overseas.  Understanding the impact of late-career overseas service on my FERS High-3 calculation, I knew I would need to serve at least 3 additional years back in CONUS in order to rehabilitate/fully maximize my High-3 calculation. (Thank you for bringing attention to this issue in your November 2023 email.)

**

Retired within a few months of becoming eligible.  Reasons included: financial viability, it was part of a pre-determined long-term plan, time was more important than money, and changing environment in uniformed policing made it unsustainable for my risk (in various forms) tolerance.

**

I retired at 55 and 10 months. I was planning to go to mandatory age of 57.  I received a contract job offer making a very good hourly wage and working part-time from home.

**

 

I retired about three years after I was eligible.  I decided to go at the end of 2022 when I realized I was in a financial position to be able to do so.  I would recommend anyone who is eligible, or close to it, sit down with a good retirement calculator and look at your post-retirement income.  I realized that with a small monthly withdrawal from TSP (less than 2% annual withdrawal), I would make as much as I was while I was working.  It was an easy decision at that point.

**

No.  I stayed on an additional 18-months to complete my final embassy assignment as a Diplomatic Security Regional Security Officer which paid a substantial bonus and hardship differential.  I was then able to participate in the Department of State’s job search and career transition course.  This additional time also allowed my wife to remain employed at the embassy, helping us to save more money needed for our transition to retired life.

**

I retired 14 months after eligibility on 7/31/23. I had a priority case/ trial in 2022 that delayed my next career job search until January 2023. I left because I had a good private sector opportunity.

**

Mostly first eligible.  I became eligible in September and retired at the end of December.  Seemed like a natural ending spot.  Combination of being mentally done with the nonsense of the agency and fighting with USAO to get prosecution, as well as realizing I could be free and live off my retirement, thanks to the education I received from Barfield University.

**

First eligibility (by chance) at two weeks after my 50th birthday on 4/30/2023 with 26 years total service.    

**

I retired at first eligibility; I didn’t get promoted in the last three years and after having “my numbers ran”, I knew that any job paying a net of more than $30k/year would net me more than a GS-13/10, so it’d be completely stupid to stay past retirement eligibility.

**

I retired at first eligibility.  I was hired with an age waiver as I was retired military.  I was only allowed to do 20 years as a FERS LEO.

**

I retired about 4 ½ months after eligibility.  My eligibility was in December 2022, but I was not able to line up another job in time.  I retired when I got a private sector job.

One of the primary reasons I retired was because of the change to the law allowing access to the TSP after 25 years of service at any age.  I was planning to retire in January of the year I turned 50 so that I could have access to the TSP just in case, but after that change, I became more comfortable retiring.

**

 

I have had the good fortune to have known Chris for a great many years and have been able to have many in depth conversations with him (that I didn’t always always-LOL- listen to fully).  But his advice was always spot on.  Case in point retiring…

I loved my job, had some things I still wanted to accomplish AND was afraid that by living on the West Coast I would have troubles with “reduced” income..probably like most folks?.. So I extended for a year past manatory and went at age 58.  ( I can tell you I have never been happier).  Chris advised me that it would be fine (and that I was dumb [his words were not PG-13] for staying-many, many times).  I now fully see where he sat.  I was working full time (plus extra….) for peanuts-when you take your full salary and compare it to the pension.

 

**

I retired in the year I was eligible when I turned 50.  While I did not necessarily plan to retire, I successfully competed for an opening for a job that was a good fit for my background at a company where I wanted to work, and I retired shortly after receiving the offer.

 

 

 

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

 

 

I don’t think it was “one” thing, but it was utilizing information from you, Brad Bobb and Dan Jamison. You helped me understand the “math” of retiring versus continuing to work, which ultimately lead to my decision. Of course, after you and I helped my wife of 32 years understand.

 

**

A coworker sent me a bunch of Barfield’s white papers several years ago.  Once I read them and started looking at my own numbers, I realized I could live comfortably on my pension and didn’t need to stay at this job.

**

 

Obviously, I wanted to be at least as well off financially as I was when still on the job.  After I saw how low university salaries were, I became very concerned that maybe it was not going to work out.  Learning more about retirement benefits eased my mind, and I learned I didn’t have to make as much money as I thought I did.  It was a relief…but still a bit of a challenge to convince my wife of how it really worked!  Once I knew I could retire and be fine, I moved forward and didn’t look back.  

**

I was a TSP millionaire. I had an opportunity to continue working for another 2 year term so for me, it wasn’t financially a difficult decision.

**

I was lucky enough to be appointed to a board position and with what the compensation was for the commitment they required I couldn’t pass it up. I am making more with my pension and this part time position than I was when working full time.

**

 

Was searching for a position in the private sector and received an offer.

**

Upon my return to CONUS (FBI Headquarters) in January 2020, I began using the online retirement calculator (GRB) to estimate the difference between retiring at the end of 2022 (having earned my CONUS High-3) and working until mandatory retirement on June 30, 2024.  The calculation made clear that adding 18 additional months of service would not remotely increase my net monthly annuity payment enough to offset the loss of receiving my pension over the same period.  It was a “no-brainer”.

**

Knowing I was going to be debt free, including mortgage, soon after retiring.

**

There are opportunities to make a good wage and enjoy working less with more time to do what you want to do.

**

 

The “a-ha” moment for me was when I finished entering all of my info into the retirement calculator that used to be hosted by Dan Jamison’s site that is now on yours.  I used updated info from a recent retirement estimate and I realized I could absolutely afford to retire, even assuming extremely low future rates of return on my TSP.  The other factor was the realization that my high-3 salary was pretty much set in stone, at least for another 5-6 years.  I transferred from a very high locality to a very low locality less than two years before I retired.

**

When I read Dan Jamison’s FERS Guide for SCA Employees at least 15-years ago and he clearly explained how it was possible to retire and live well from your pension and TSP savings at 50 and 20.  At that point I made a plan and dedicated myself to contribute the max to TSP every year and also maximize contributions to my private investments.

**

I was offered a Corporate Investigations position with a Fortune 100 company

 

**

Chris running my numbers in August 2022 and compared them to the Treasury Fiscal Service previously crunched numbers.  Outside corporate investigator job offer was too good to pass up in addition to children graduating college May 2023 and ability to double dip to pay down their college loans.

**

I decided to retire when I didn’t get promoted when I had 5 months left until retirement eligible.  It was at that point that I actually realized that even if I had been promoted, my hourly pay rate would’ve been about $10/hour.

**

Mandatory retirement, due to age waiver when hired.

 

**

 

See above.  My plan was to retire in the first month of the year I turned 50 so I could get access to the TSP if I needed, should any private sector job I got not work out.  With the change in the law, I was able to retire earlier.  It did not make financial sense to continue to work for one additional percent a year added to my annuity.

**

 

 I received a job offer that matched my current salary plus a signing bonus, and would allow me to collect my pension and supplement starting not long after reaching eligibility.  Being able to collect my retirement and supplement along with a new paycheck and new opportunity with growth potential made the retirement decision a no-brainer.

 

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.)

 

Since I started educating myself through your work and the above over the last 2.5 years, my decision at the end was easy. I have sent your information, articles, the “I can’t afford to retire” article and many other pieces of information you provided to every agent in our Division leading up to my departure in October. I have happily fielded several calls and questions to other agents getting closer to their decision. I plan to have some words with other agents who left in the last decade and see if they knew all the information and for whatever reason kept it hidden or were not willing to share. I wish someone would have encapsulated the information I learned through your work, Dan and Bob and shared it with me/all of us much earlier.

**

 

Would have started the job search process earlier. Although I retired with $1.4 million in TSP I would have contributed more earlier in career.

**

 

Even though I wouldn’t have done many things differently, I would have done a better job, early on, convincing my wife that it was a good move.  I would have shown her numbers on paper (retirement estimates compared to my current take home pay, etc.) earlier than I did.  She’s financially conservative, and it can be a challenge to convince someone who is not familiar with the benefits of federal retirement (particularly 1811 retirement) just how good the benefits really are.  Maybe I would have put more money into the TSP over the years (I maxed it out some years, but not all of the years.  I always contributed at least 10% of my salary).  However, I’m not as concerned about that right now because I don’t plan to touch it for some time.  I left with a good balance.  Other than that, I wouldn’t have changed a thing.

**

Not much, maybe save more if anything. I did take out a few TSP loans when I was young. I took the advice I was given and contributed the max when I started. I probably could have invested more outside TSP.

**

I left when I got a post-government job so that was the timing that worked for me. If I had obtained a job earlier, I would have left earlier. As far as estimates, I feel like I had run the numbers so many times I was finally believing what they were saying and able to go at my choosing. Obtaining a post-government job made the timing work but now realize that I didn’t really need the job to make the numbers works. I could live on my pension, supplement, and taking just a small percent (less than 2%) out of TSP each year.

**

I was very fortunate to have the guidance offered by Chris Barfield and Dan Jamison. My decisions were well informed. I was fully prepared for retirement and made the transition with confidence.

**

My spouse did not work after we had children so we always felt limited with two kids and saving for the college in a 529 plan which I might add paid for both of their college educations. I retired comfortably at just short of $1M (largely due to the decrease in the market in 2022) I think I would have figured a way to put at least a larger percentage our yearly salary increase in TSP. I retired at the right time. I had accomplished everything I wanted to.

**

 

I wish I would have planned things out with a retirement calculator sooner.  Although the timing worked out very well for me, I wasn’t actually planning on retiring for another couple of years.  I sat down with the calculator at the beginning of September (2022) and filed my paperwork by the end of the month.  When I did decide to go, I was more nervous than I should have been.  The numbers all said I was good, but I felt like maybe I should think about it more (but VERY glad I didn’t…retirement is awesome!).

**

I would not have done anything different.  My wife and I did our research, made a plan over a decade ago, and stuck to the plan, being disciplined in our savings and spending to set us up for retirement debt free.

**

I am happy with how things worked out. I’m not leaving the FBI bitter. Jamison and Barfield were great resources to prepare for retirement.

**

 

Nothing different about the retirement process itself, just wish I understood TSP better early own.  I wold have invested 100% C fund from the start instead of the combination of funds I was in.

**

 

Probably should have saved more earlier which would have been a moot point getting divorced 6 years into my fed career and then working with half of my TSP balance to start over with.  Never took out a loan from TSP.  With grade/step increases and annual pay scale raises I increased my TSP contributions annually to the point I was maxing out last several years.     

**

Nothing, I’m happy with everything.

 

**

I had taken the mid-career and within 5 years of retirement classes.  Got Dan Jamison’s book, made calculations, and got estimates from my agency and from Chris.  I felt pretty comfortable retiring.  For a great deal of my career I was not able, for financial reasons, to max out the TSP.  I do wish that I was able to do that.  I did mainly leave everything in the C fund and did not move money around often.  In my youth, I dabbled in diversification and spread my TSP in percentages within the C,S,F,I, and G funds, but most of my percentage was in the C.  In the latter part of my career, I was predominately C, with a G safety net.  If I could go back and change anything I think that I would have just put everything in the C fund and left it there most of the time.

 

**

I would have stayed 100% in the C fund and never moved any money…..as he advised many many years ago (but I thought I was smarter…)

 

**

 

 I heeded the advice of senior Agents close to retiring when I started that said to max out TSP contributions and to put it all in the C Fund and let it ride. I did just that for all of my years and retired with a balance over $1M. The one thing I would have done differently is to stay the course in the C fund for longer than I did. I moved to Lifecycle funds later in my career to diversify, and judging from what others have reported by remaining in C for 20+ years, it may have yielded a higher balance by staying in the more aggressive fund (though I did reach the goal I set for my savings and am happy overall with where I ended up). 

 

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

The first 6 weeks have been awesome! I’ve always been a waterfowl hunter so leaving during season was perfect. My wife and I have traveled once already and my “to do” list at the house seems never ending. Retirement is so much better than continuing to grind at meat factory. I do miss the clowns, but not the circus.

**

Without question…better.  Less stress, complete feeling of being “untethered.”  Here’s an example: A little over a week after I retired, my wife and I took our boys (age 10 and 12) for a weekend at Cedar Point in Ohio.  We stayed at the Breakers, spent time of the beach, rode every single insane roller coaster the park had…multiple times!  Had a great time.  I was NOT thinking about where to secure my gun.  I was NOT thinking about what I had lined up for the following week (court, interviews, reports due, meetings, etc.).  I was NOT thinking about some mass shooting or fire incident occurring in my area of coverage that would cause me to have to cancel my trip and miss time with my family..or even having to spend time talking on the phone about the incident and worrying about it when I’m really supposed to be thinking about the giant ice cream sundae I’m eating with my kids on the beach.  My current job does have responsibilities and deadlines, of course, but there really is no comparison.

**

So far it has been amazing, and I don’t regret it one bit! I am making more money with less responsibility. I can now work an alternate work schedule so I have a day off every other week.  I’m on a two-year term, when it ends I will most likely hang it up for good.

**

Better for sure. I wasn’t sure what to envision but it has been a great nine months so far. By far less stress, more time with family, and the overall satisfaction of completing your government service, securing a pension, and moving on to the next chapter of your life. I’ve had others who, unfortunately, didn’t make it to the end and I feel so grateful that I did.

**

The current job is somewhat boring, but I expected that. The FBI was my career.  What I am doing now is a job that will help with children’s college tuition etc. You need to manage your expectations and determine which path you want – work long hours to bring in revenue for the company with a high salary or work 40 hours per week with a salary that compliments your annuity.

**

 

It was the right decision to retire, both for me and my wife. We’re both happy. I’m also fully retired. I’m still well connected with my former co-workers and enjoy meeting with them often. I look out my living room window and enjoy an unobstructed view of the Washington Monument and U.S. Capitol.  I’m a tourist in my own town, meeting weekly with a fellow recent retiree to visit museums, tour battlefields, and enjoy the rich opportunities of this amazing city.  I have time for my hobbies and am getting more exercise. My wife and I have traveled quite a lot during this first year of retirement.  She will continue to work for another 3 years until she earns her FERS retirement as well.  

**

It’s something you need to have plan. Don’t just walk out the door without a plan. It’s like solving a case, what is your plan, what is your vision for success. I found a part time job that keeps my mind working but I find I can go for longer hikes, spend more time reading, travel a little and enjoy the mornings with my spouse.   It’s better than I expected.

**

It’s definitely better than I thought it would be.  I made the decision to retire relatively quickly, so I hadn’t given a whole lot of thought to what it would really be like.  The freedom to do what I want, when I want, is priceless.

**

Despite the chaos involved in returning to the U.S., finding and buying a house, and tracking/receiving multiple shipments of our personal effects from storage and abroad, the first 2-months of retirement have been better than expected.  The best part for me is even though I have a list a mile long of things that I need/want to do, there is no timeline for completion or pressure to get things done right now.  As long as I get the kids to and from school and work each day, the rest of my time is my own and I work on my list each day until I don’t feel like working on it anymore.  It is so unlike my career years when I would go on vacation and spend so much time counting the days left to get things accomplished and return to someone else’s timetable.  My time is truly my own now, and that is so refreshing and liberating. 

**

Good. Great to take advantage of federal retirement at age 51 and increase my total income by starting a new career.

**

 

Better.  Relaxed and not stressed.  Thoroughly enjoying new gig.  “Miss the clowns I worked with but certainly not the circus.” 

**

Retirement is much better in that in my federal LEO job (Secret Service), I was almost always in the “do I have to travel anytime soon” mindset, whereas the job I have now (bank investigator), it’s a steady 9-5 M-F, no weekends, nights, holidays, no travel, and almost no liability for wrong decisions made at work

**

I love it.  I did 24 years active duty and 20 years as a FERS LEO.  I enjoy being able to do whatever I want, whenever I want.

 

**

 

Well, I retired on a Friday and started work at the new job on Monday, so nothing really changed, except…that nice annuity check once a month.

**

It is better than I could have imagined, and getting better every day.  I am looking forward to my wife joining me in it!          

 

 **

 I took a two week break between retiring and starting a new job.  I was fortunate to have the opportunity to move on to a different job in the corporate world so full retirement is still down the road for me.  It is a great feeling to continue earning a paycheck while having the pension and benefits arriving as well.

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

When I left 6 weeks ago, it was 1.4 and just yesterday it closed at 1.5. Let’s go!!

**

$1.2 million.  I maxed out contributions for some of years, other years I did not.  I always put in at least 10%.  I NEVER put money into the G fund.  Mostly in the C fund with some of the balance in the S and I in recent years… 22 years with ATF, and 5 years Federal time before that for a total of 27 years in the government.  I NEVER played the game of transferring funds to the G in reaction to a falling stock market.  I let my balance ride through stock market woes of 2008-2009 and COVID.  I never let losses bother me that much, because I knew it would bounce back.  And it did. 

**

Approximately $1,100,000.

 

**

$982,267.77

 

**

About $1,700,000 and now more with the market coming back a bit. I know how fortunate I am. I would love to say it’s from something genius that I did but it’s not. I simply followed advice I was given when I first got into the Bureau – max out and let it ride in C. I was lucky, I followed that to the letter. I went right to a high-cost location but was single and able to max out from the very start. Marriage and kids came later but by that time I was already maxing out and never saw the money in my paycheck, so I never had the issue of trying question whether to put in in TSP or to your paycheck. I have realized how lucky I am for a long time and tried to pass that same information on to everyone who would listen. Hopefully some of them did. If they did, they will certainly thank me later.  

**

$1,400,000

**

 

$1.3M, which I’m pretty happy with. I moved things around from time to time.  Some moves good, some not as good.  Ideally, I should’ve left everything in the C fund and not touched it again. My exiting TSP balance would have been higher.

**

My TSP balance when I left on 9/30/2023 was $965,000.  It was over $1.2M at one point.  I did invest in IRAs outside of TSP and those combined balances were an additional $220,000.

**

$1.05 million (and I still haven’t touched it in retirement).

**

$925,000

**

$1,000,400 on 7/31/23 retirement. It is $975,000 as of 11/07/23.

**

Just checked 11/29.  $860k.  For the record, I didn’t max TSP contributions until several years ago.  My wife and I have funded Roth IRA’s as well and have approximately $300k in those. Also have $100k invested that we’ve saved for whatever: kids college tuition, vehicle replacement, vacation, etc…

**

$1.1M

**

After 24.5 years as a Secret Service agent, and having NEVER maxed out my TSP contribution amount…EVER…but always had at least the matching funds from Secret Service, I retired in November 2023 with a TSP balance of $1.2M.  I had various contribution percentages, but always C, S, and I with a more recent mix of 70% C and 30% S.

**

$1,109,015

 

**

$945,855

**

$1.125M And let me add context (or maybe hope for the young reader)..first two years I was broke so only 5%.  Had 4 years of activated military service that had zero contributions, a divorce and that struggle.  All told, I had 12 years of maxed contributions, 8 years with either 5% or zero contributions, and the rest with between 5%-10%, did the catch ups from age 50, and took out one TSP loan. (so there is hope)

 **

 

 $1.1M

 

 

 

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

I’m still waiting on my annuity, but if your estimate, my estimate and my plan to draw just under 3 percent from TSP hold true, I will be giving myself a raise and it will more than cover our living expenses and travel plans.

**

If I was taking from my TSP, then I’m sure it would cover things.  I’m not taking from my TSP because I have another full-time job.  One point that I would make is this:  The gross pay of my pension (with RAS) combined with the gross pay in my new job is almost exactly the same as the gross pay I had when I left ATF as a GS-13 step 10.  However, I’m taking home about $24,000 more per year than I did while I was still on the job.  Funny how that works out!  No need to touch TSP yet…I kept my government health insurance (no need to have it deducted by my new employer) – a great benefit we all have!

**

I’m not dipping into TSP yet since I have a job but I’ve done the math and even if I just had my annuity, I would be just fine.  Do the math, talk to someone, most likely you will be good.

**

 

Yes.

**

 

I am 50 years old, have two middle school children, a wife who doesn’t work outside the home, a very nice house, and a $100k mortgage.  The annuity by itself would’ve covered my daily average living expenses without having to withdraw any funds from my TSP balance.  However, I’d have had to withdraw funds from TSP for vacation and college tuition if I didn’t have a $100k job post-retirement.

**

Yes, for sure. My annuity was about what I thought it was going to be with all the estimates that I had done. My supplement was more than I estimated, and my TSP has been doing very well. So even though I now have a part time post-government job I realize that I could survive with my pension, supplement, and TSP without a doubt. And by survive, I mean live better than I did when working. 

**

While I have not received any annuity payments yet and I am not drawing from my TSP, I do believe my expenses would be covered.

**

I’m not drawing from my TSP, only receiving the annuity and supplement, which equals approximately 75% of my former salary (cash in hand analysis). This works for the time being.  I plan to begin drawing from my TSP once my SRS/RAS stops after age 62.

**

I have not received anything to date.  But I ran the numbers, being an accountant with a finance degree that is what I do.  Once the dust settles, I will be just fine and with a part time income I will actually be receiving a raise and work less.

**

They are covering my expenses just fine, and I still have a mortgage payment.  I’ve been lucky and haven’t even had to touch my TSP yet.

**

Yes.  I have decided not to take any withdrawals from TSP at present and am supplementing my annuity and supplement with the monthly dividends paid by the investments in my private brokerage account.  We were able to pay cash for our home and that has made the transition more financially viable.

**

 

Yes. I don’t plan to use TSP until I fully retire. I could probably match my net income by using TSP now, but I hope by waiting 8-12 years I will be able to pull a much larger monthly amount.

**

I’m not retired yet, but I believe they will.  Not planning on TSP payments this year to see how things look on just FERS and supplement.  My wife has a good paying job so we’ve got that as well.  I’ve mandated that she work another 5 years.

**

Annuity, supplement, and corporate paycheck are covering expenses (college loan payments included) with plenty of extra leftover.  Including maxing out company 401K contributions and employee stock purchase plan in new job.  I have not touched my TSP.   

**

I do not qualify for the supplement, since I am 62 years old (when I retired).  However, I am drawing military retirement pay (24 years), 90% VA disability, annuity, and just applied for social security.  I don’t plan to draw from my TSP at this time.

 

**

I think that when I retire for good they will.

**

In my case, having bought back all of my military time from pre-Fed employment, I left with right at 32 years of service. I consider myself extremely fortunate as I know too many who didn’t make the journey.  In terms of money..could always use more, but I can easily make $1000 withdrawals from TSP and be sitting right at the equivalent of full salary again.  A solid TSP will make the difference between good and great!

 

**

 

It most likely will but I am still on interim payments, and have been relying more on my current salary.

 

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

 

I am not looking, don’t plan to right away and may never. I would like to instruct firearms and tactics, but if that doesn’t come to fruition and I “have” to work somewhere, 3 days a week at Home Depot sound perfect.

**

I already had my new job lined up before I retired.  I would have stuck around if I didn’t have that assurance.  I have two young kids and lots of youth hockey and soccer bills!

**

I returned to the government.

**

I am currently serving on a part time Board. I am very fortunate to have that position and know it. I didn’t hire a resume service. I did find it helpful to get out there and look for jobs and have the experience in interviewing, but it seemed to me that without some sort of connection to get your resume some special attention it was going to be hard to find a job. I passed out my resume to some connections to get their input which I found very help and improved my resume.

**

 

It was more difficult and took longer than expected. Got on LinkedIn somewhat late and while I made a lot of connections at companies and had friends trying to help me, I did not get the expected results. I was looking for positions at banks in fraud and investigations but quickly realized a lot of the work is driven by analytics, data manipulation etc. I did turn down some pursuits due to low salary. I did not hire a resume service or placement consultant. I received an email from an Agent who worked for me about an opening at a defense contractor which led to an interview, offer, and acceptance.

**

Does not apply to me.

**

I was offered a job from a case presentation I gave. Right place at the right time.

 

**

I used LinkedIn almost exclusively to set up a network and search for jobs. I did have 2 friends in the industry help with my resume. It was a humbling experience, but I found a great job within 6 months (applied to 15 positions and had 3 interviews). I did not retire until I found the right position.

**

Nothing formal.  Random conversation with USMS local supervisor resulted in signing up to work part time as a DSO for the USMS.  Prob find some other part time work I’ll enjoy and volunteer.

**

It was a long process job hunting and mostly found openings through Linked In.  I did not hire any consultants. 

**

I hired a resume writer for $275 in September 2023 and had an existing LinkedIn account for a year preceding September 2023 with limited use.  I would absolutely recommend consulting a professional resume writer if you plan on applying for professional employment post-retirement, regardless of how many awards you won or experience.  I’ve found most large companies use Applicant Tracking Software to search for keywords within resumes, and you wouldn’t believe that the same resume got me job offers from some huge banks and rejection letters from other huge banks.  Getting even a job interview wasn’t as easy as I thought it would be, and I have a stellar award-winning federal LEO background.

**

 

While you are working in the government, start making and maintaining connections, with prosecutors and other agents.  You never know who you meet that will be able to help you get that private sector job.  I hadn’t interviewed for a job in 21 years so a lot had changed, I probably could have used a coach, but luckily I was able to get a great job in the private sector without hiring a resume service or job placement consultant.

 **

 

 I found my position from a posting by one of my LinkedIn connections. I was not actively looking for another job and had recently revised my resume. I did not hire a resume service or job placement consultant. I had professional interactions during my previous career with the corporate division where I currently work, and having maintained those previous relationships was helpful when I competed for my current job.

 

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

Get out as soon as you can! As long as they have been feeding their TSP to the max over the years, not moving between funds and do their catch ups, they have more than enough to retire comfortably. I would also tell them to start their education and planning now. Your best advise was telling me I should have come to you before I turned 50.

 

**

Become intimately familiar with the Chris Barfield white papers on retirement. Knowledge is power. Read them, re-read them, discuss them with other employees, and figure out what you are looking for (or need) in retirement. Go over the estimates again and again until you are comfortable. For me it took running those numbers over and over again to believe them. If you want or need a post-Govt job, dust off that resume and start looking well before you need to go. The practice helps. When I left, I hadn’t done a resume in over 25 years. And once you are ready to go, just go for it. I haven’t yet talked to anyone who regrets it. 

**

 

Anyone reading this is already more informed than most.  Keep doing what you are doing. Make sure to run the numbers to fully understand the pros/cons of working beyond your earliest retirement eligibility.  Obtain your full HR record well in advance to ensure that important documents are present and correct, e.g. confirmation of Military Deposit calculation and payment. Don’t put this off.

**

 

Work the numbers, get a full understanding of what your financial situation will look like, and then do it!  Don’t get hung up on what your gross salary is right now.  Look only at your net pay, that will give you the best idea of your situation when considering a new job, or what you need in retirement.  My gross salary was over $165k per year when I retired.  However, my net pay with that salary was only about $101k per year.   I calculated that there was about $35k worth of deductions that would not be taken out in retirement.  Thanks to Barfield Financial for making this clear to me!

**

Do it as soon as you can financially. I struggled a bit with the ego part of it, and I still occasionally wonder if I could have moved into the SES ranks if I stuck around. But that is strictly ego talking, I’m making more money and living a much more balanced life than I would have moving up.  I’ll spend my days thinking that I could have and keep it at that! 😊

**

Start the process early – there are factors for which you cannot control. Don’t get discouraged. It can be a very humbling process. Trying to translate leading high-risk operations, mitigating risk, and making quick decisions with limited information can be a challenge. A company is not going to hire you and pay you a large salary simply based on the fact you were a federal LEO. If you want the big salary expect to be bringing in new business, revenue etc.

**

Plan as soon as possible.  Commit to the decision, barring any sort of unexpected life changing emergency/event.  Get rid of debt as much as you can.  You may need cash reserves to help cover expenses while receiving interim payments.  This should be separate from an emergency fund.  You know there may be a cashflow issue (OPM backlog) and treat it as a pre-planned expense.  Make sure your TSP asset allocation matches your risk tolerance and risk capacity.  100% C fund or 100% G fund may not be ideal depending on your specific circumstances.

**

 

I said it before. You must have a plan. Our careers were all about achieving results. Sitting idly at home will not fulfill you.  Also, I don’t recommend entering the grind of corporate America. Find a balance that keeps you busy but learn to enjoy life and all it has to offer. Learn a new hobby, take classes at a local university or college, engage your mind and body in new adventures.

**

Get an updated retirement estimate and use the calculator on Barfield Financial’s website…it was extremely accurate for me.  Annuity and supplement amounts were within a few dollars of my actuals.  Don’t use crazy-high estimates on your future TSP returns and if the calculator says you can go, file that paperwork!  You will not regret it when all is said and done

 

**

Max out your TSP contributions, save as much as you can in private investments, and retire as soon as you are eligible.  The paychecks are not worth stress and baloney involved in federal law enforcement work.

**

It is a personal decision based on if you still enjoy your job and your financial position.

**

Retire unless you still love your job.  Read Barfield.  Read Fersguide.  The BS of working another year to increase your high 3, I can’t afford to retire, all the topics they/them cover.  All that is put into perspective with just a few hours of reading.

**

 

I worked on my own resume which I recommend starting on it now.  Start looking around 1-2 years out on what you’d like to do or (“not do” HT Barfield) next chapter job wise. 

**

I’d max out your TSP contribution, invest in 100% C, leave it alone, and in the last several months before you retire, consider moving the amount of money you need to pay-off your mortgage to the G fund (which at this point is earning about a 3% return).  Apply for jobs through LinkedIn and Indeed about 4 months before you retire, and start making calls to professional contacts about 5 months before retirement.

**

Max out TSP and catch-up contributions.

 

**

 

Plan and prepare.  Go to the retirement seminars.  Get the estimates.  Talk to Chris.  Read Dan Jamison’s book.  Get real comfortable and knowledgeable about retirement.  Once you have all that done, retirement won’t be so scary.

**

Develop a hobby if you don’t have one.  Mine is chasing a little white ball around between sandtraps, lakes and greens…

Contribute as much as you can to TSP, it’s the gift that will keep on giving.

Come to grips with the fact that within a few months, you will have been replaced and big shocker-the world didn’t end with your leaving LOL.

 **

It is a good time to start or revise your resume either by yourself or with a consultant. Create a LinkedIn profile if you don’t have one already. Talk to friends in your agency who are retiring or have recently retired to learn any tips or advice they have for job searches and start working your network to find job opportunities that fit with what you may want to do after government service.

 

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

Thank you for carrying on and protecting our Country. Feed the TSP to the maximum, tighten the belt during their early years so they can enjoy their retirement years with a large TSP balance. Educate themselves on what FERS is all about and don’t rely on someone at the Academy telling them how to run their TSP or prepare for their future.

**

 

Get ready for a great career! (I can only speak for my experience in ATF, of course)…And max out your TSP!  You won’t be sorry.  Also, develop some unique specialty skills that you can use to market yourself in retirement.  If you like teaching, take every opportunity to teach at your academy, present at conferences, and generally be someone who likes to talk in front of crowds.  It will help you on the witness stand, and it will help you get a teaching job one day in retirement…if that’s what you want, of course.

**

 

You can’t create more time.  Time is everything.  Once it is gone, you can’t get it back.  Start your savings, investment, and retirement planning now!  Subscribe to Dan Jamison’s FERSGUIDE now.  Read each yearly edition until you can recite it, chapter and verse.  Subscribe to Chris Barfield’s email newsletter.  Read the articles on his website.  Read them again.

Pay yourself first.  That is to say, before you do anything else, pay your military service deposit, maximize your TSP contributions and your individual IRA/Roth contributions. Do this in spite of the fact that it is going to hurt initially.  Condition yourself to this initial financial constraint as early as possible. Once you do, you won’t feel it anymore and you’ll be on a solid path to financial independence and security.  In a short time, your income will increase and you’ll be able to comfortably augment your TSP/IRA retirement investments with other non-retirement investments, but not before you’ve maxed out your TSP/IRA!

Every actively managed stock fund is chasing the S&P 500 as a benchmark for success.  They rarely succeed and charge you money regardless of success or failure. Go with a S&P Index Fund (Vanguard/Fidelity), save money and sleep better at night.    

**

 

Max out your TSP, don’t take loans even though rates are low, the cost is high.

**

No matter what you do or think yourself, max out your TSP, put it in it the C Fund, and let it ride. Check on it if you want or don’t check on it, but every time you can contribute more, do. Figure out how to live off your paycheck later. You will not be disappointed. And by the time you are considering retiring it will certainly make that decision a whole lot less stressful.

**

 

Max out your TSP with the C fund! Be patient – you will find your niche in the organization whether it is working cases, teaching, full-time tactical, evidence response, tech Agent, manager, etc. Your organization will evolve and adapt to the changing times – some good and some bad. Embrace the changes, ignore the politicians, do your job.

**

Become financially literate.  There are tons of great resources on the internet and in books that can help you greatly.  Learn to delay gratification but don’t live miserly.  Stay away from high interest consumer debt, such as carrying a credit card balance.  Contribute to the TSP as much as possible.  Pick a fund and stay the course no matter what.  C fund would be my suggestion. Nobody knows what the stock market is going to do in the short term.  Ignore the both the financial fear mongering in the news and the false euphoria of latest get rich quick schemes or unfounded TSP strategies.  Open a Roth IRA account and consistently contribute to it.

**

Invest in TSP a minimum of 5%.  Do more if you can.  Those last 10-12 years of watching my TSP balance grow over time gave me a level of comfort that I was taking care of my family.

**

Put the maximum amount you are allowed into your TSP, and at put everything in the C fund.  Don’t try to time the market by moving your money amongst the various funds…stick to C fund and don’t look back. 

**

 

Work long enough to save enough money to start your own business doing something that you love.

**

Trust the TSP and try to max your contributions, but don’t follow the ups and downs in the short term. Enjoy your career and take advantage of opportunities. 1811 jobs are awesome.

**

Read Chris Barfield. 100% C fund.  Put as much as you can in there.  Live modestly. Read Chris Barfield.

**

 

Go to the retirement seminars early in your career and contribute as much as you can to TSP.  Start maxing it out as soon as possible.  Go to your kids’ games, recitals, campouts, coach their teams, etc. because it flies by.   

**

Max out your TSP contribution and put 100% in C.  Don’t ever touch it until the last several years of your career!

**

Max out TSP and get it out of the G-Fund.

 

**

Find a way to max out the TSP.  Don’t day trade.  You can’t do anything about the bad news.  Don’t be tempted to swap money into the G fund every time something bad happens.  You can’t time the market.  You will end up losing out trying to gauge when to get back in.  I went through a few significant downturns, but kept putting money in.  Sure I looked at it and shuddered on occasion, but just keep putting money in.  My suggestion would be to try not to look at your balance.  Fire and forget.

**

 

If you had prior military service, buy that time back ASAP as in NOW.

Consider joining the Reserves or National Guard if you are able.  Complicates your life, but can add a second pension and make retirement even easier..

Contribute as much as you can, as soon as you can to your TSP (you decide which funds).

Never ever forget that the job will replace you immediately, but your family will not care about the awesome things you “did” just the awesome things you “missed”…

**

Max out your TSP contributions as early as possible, invest aggressively and do not consider making any moves until the latter part of your career.  Make a plan and stay the course.

Develop a good reputation in your agency by being available and volunteering for different assignments often. Answer your phone and return calls in a timely manner. Establish and maintain professional relationships inside and outside your agency.  Show initiative and the ability to work independently and be a team player when necessary.   Don’t be the one who does not step up, avoids work or always has to take care of personal stuff so that others have to pick up the slack.

Be someone who is respected by your peers. It’s a great complement for your peers to say about you “I’d go through a door with him/her.”

 

 

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

First, I spoke with friends who had recently retired.  Second, I read a lot of the articles on Barfield Financial site.  Third, I purchased and read the 2023 FERS guide for SCE’s by Dan Jamison.  All great resources! 

**

Dan Jamison’s book was helpful, I also was sent a great Excel spreadsheet someone made that was pretty accurate in terms of calculating retirement and had an income comparison pre/post retirement. This gave me a good idea of where I would be.

**

I circled back with a whole lot of retired people that I knew and got their perspective and guidance but measured that with what I knew I wanted to do.

**

 

As already mentioned, I primarily relied on BARFIED FINANCIAL and Dan Jamison’s FERSGUIDE.  At risk of dating myself, I’ll admit that I first started receiving the FERSGUIDE via Groupwise.  Yep, I go back that far.

**

 

Read Dan Jamison FERS Guide for years. Got on Barfield email distro when I first heard about it. Hired Barfield for retirement estimate. Would recommend reading FERS Guide cover to cover the first time, then review new editions annually. Purchasing the guide is an investment in your future with a guaranteed return. Crawl all over Barfield website and read all papers etc.

**

Agency estimate and a more detailed estimate from outside sources like Barfield Financial, for example.  Would highly recommend to others.

**

Dan Jamison’s FERS guide.  Barfield Financial Newsletters.  And I read several investment books on index investing and why it makes sense.

**

While I was able to attend a few retirement classes during my career, they were not comprehensive.  The best resource out there is Dan Jamison’s FERSGUIDE (found on Amazon).  It explains federal retirement benefits in clear language.  I was lucky to have found it relatively early in my career.  It allowed me to know what benefits I had coming, and also allowed me to explain our benefits to my coworkers when it came up.  I have even purchased some copies from time to time to hand out to newer employees. 

**

 

If you are a federal law enforcement officer there are no other resources needed than Dan Jamison’s FERS Guide for SCA Employees and Chris Barfield’s Newsletter and library of essays. Nothing your agency can provide you will be as encyclopedic and accurate as the information provided by Dan and Chris.

**

Jamison and Barfield. Pay the nominal fee to buy Jamison’s FERS Retirement Guide on Amazon.

**

Barfield (and the stuff he recommends, i.e. Tammy Flanigan, etc…), Fersguide.  I highly recommend those resources.

**

Definitely recommend and must reads:  Chris Barfield’s analysis and newsletters.  Dan Jemison’s book.

 

**

Follow Barfield Financial and buy Dan Jamisons FERS Special retirement book about  years from your retirement and read/bookmark sections.

**

I used the Air Force GRB site, OPM site, and advice from others.

 

**

Dan Jamison

Chris Barfield

Chris Kowalik, ProFeds (Great free retirement podcasts on different topics)

Highly recommend all.

 

**

 

I attended several on-line seminars (they were all crap). I got more good info from talking with Chris, reading his articles and talking with people as and after they retired.

 

**

I consulted with friends who recently retired and read through posts on sites such as LinkedIn and Indeed for information on job search best practices.

 

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

I wish someone would have provided me with insight of a career agent nearing the end, who had educated themselves, who did take the time to prepare themselves for the future and share that insight, knowledge and wisdom.

**

I don’t think there is any advice that could have been given that would have made me do anything differently.  I learned by failing and succeeding.  Everyone recommended to max out the TSP.  Some listened to that advice, some didn’t.  I mostly listened to that advice, and things turned out ok.

**

When I started, 25 years ago, so many people were just staying until they were mandatory. No one felt like as an 1811 that they had marketable skills for the private sector. I think that has changed a lot over the years. Now I would do more training (CFE, online certifications, etc) that would benefit a post retirement career.

**

I feel like I was fortunate to get some good advice. The TSP advice (maxing out) was absolutely critical, and I feel like agencies should give information about the benefits of the TSP directly to their employees while in the academy.

**

Figure out a way to max out the TSP.

 

**

 

TSP.  You are in it for the long haul.  There will be ups and downs.  Ignore all of that.  Put it all in the C Fund and lose your TSP password for the next 25 years or so.

**

 

What TSP really means to you long term, and what to invest in..

 

A better understanding of what the TSP funds are.  Try to max out contributions as soon as possible. 

**

I wish the Roth IRA was available.  My money is all in the Traditional IRA.  I wish I had that opportunity.

**

Contribute the maximum to TSP from the beginning even if you must eat ramen for every meal for the first five years.  Buy a house early and pay off as quickly as possible. Stay out of debt!!!

**

Put all my TSP in the C fund.  HDHP with HSA

**

Max out TSP early on. 

 

**

I was given great advice when I was hired as a civilian.  I think the best advice was to max out my TSP.

**

 

I actually got the advice, but wasn’t able to follow it.  Max out your TSP. 

 

 **

For me it wasn’t what I didn’t hear, but rather what I should have heeded more than I did. While you may be enjoy your work and the mission of law enforcement, at the end of the day it is a job and focus on your family first. When you retire and the law enforcement chapter in your life comes to an end, it is your family that will be there with you.  

 

 

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

 

Plan for the future, not just the next case, educate yourself, live frugally during your accumulation phase and get out as soon as you are eligible.

 

**

 

Find a post-government existence that will work for you financially…whether it’s a new job, or a plan to draw on your TSP.  If you pursue another job, understand what you are getting into – don’t do something that will make you miserable.  But if you find something you can do, retire as soon as you are able.  The doors will open up.  The tether will be cut.  You will carry only one wallet and one phone (which won’t ring in the middle of the night anymore).  You will see the stress that you didn’t even know was there float away.  You will have more room in your driveway after dumping the G-ride.   You won’t have to stress about being called into work on the weekend you planned to take your child to a hockey tournament in Buffalo.   You won’t be at a party with friends when your boss sends out a group text about a mass shooting or big fire and they need bodies to respond.  I wouldn’t trade any of those experiences I had on the job, but I’m glad they are in the past. 

 

My best TSP advice?  Don’t play the game of transferring money to the G fund if the market falls.  You will have to be right twice (transferring out and in) for it to make any difference.  I think people just hurt themselves when they do this.  I’m no financial expert, but I’d say just let it ride…it’ll come back.

If you can, find a niche in your job that will give you some skills to market yourself in a post-government career.  

If you are eligible and the numbers add up, click the button!

 

Wishing the best to anyone who reads these comments!

**

 

Don’t let your ego get the best of you. Retire early, enjoy life. It is said often, but hard to hear…you career is not your life or your legacy. While I am very proud of my career and my accomplishments, I have a lot to look forward to as a federal retiree!

**

Retirement is less stressful with the more knowledge you have about the process, benefits, etc. The more prepared you are the better off you will be. Run your estimates, talk to other employees, talk to retirees, and of course make sure to read Chris Barfield’s white papers, newsletters, and email blasts. You will gain something out of each one. If you are just starting, max out your TSP and let it ride in the C Fund. If you have been on for a while and aren’t maxing out, make a plan to max out. Realize that your TSP is entirely up to you. Your pension and supplement are really on auto pilot and don’t require any input from you. But your TSP is entirely under your control. The sooner you max out the better off you will be. You will notice a common theme with people who are fortunate enough to have large TSP balances. They maxed out early and had most, if not all, in the C Fund. Realize that there is a very real possibility that you will be collecting a pension longer than you were working. That itself tells you how valuable that pension really is. And lastly, when it’s time, enjoy your retirement!

**

Educate yourself. Nobody cares more about your money than YOU. Good decisions made early in your career will have lasting benefits.

 

**

 

We have so very much to be thankful for.  We have what so few do, very meaningful careers, the opportunity to protect and serve the American People in so many interesting and dynamic assignments, and a defined benefit and retirement program that is the last of its kind. We are truly fortunate.  Please don’t lose sight of that.  With all of the political and cultural headwinds we are currently experiencing, it is easy to forget not only the value of what we do but the reward that we receive for doing it. Stay the course. Enjoy the great ride. Take pride in our collective contribution to our United States of America. Take care of your families and each other. And, thank

 

**

Don’t get caught up in the sticker shock of gross difference in pre- and post-retirement income.  You must compare the difference in monthly net income and expenses.  Be proactive in your retirement process.  You are your biggest advocate.  Nobody is going to hold your hand, but people are willing to help you if you need it.  Double, triple, and quadruple check your retirement application.  The sooner you find and correct and error, the faster the process can proceed.  There will be errors or missing forms.  Retire gracefully.  No matter how crappy your supervisor, job, co-worker, and fill in the blank are.  You never know who or what you will need in the future.  Retiring from federal government is like winning the lottery.  You just may not know it.  In that same vein, for the love of all that’s holy, keep your shit together.  I have seen people nuke their carriers and lives over stupidity or their unwillingness to seek help when they need it.  Talk to a family member, friend, counselor, or whoever before doing something that can’t be undone. 

**

Get your money out of TSP when you can.  Sounds counter to what I have discussed above.  There are index S&P 500 funds and bond index funds out there with lower expense ratios and far better customer service and transparency.  Don’t take all your money out, leave a portion in the G Fund so you have access to money if you need it prior to 59 ½ . For example, I moved $800,000 to T Rowe Price and disbursed in index funds. I left the balance, $165,000 in the TSP G Fund. 

**

 

Just remember that although it is a career, and a very rewarding one at that, it is also just a job.  If you think you are irreplaceable, when you retire, you will be replaced by a GS 5!  When you are mentally done with it, and are hopefully eligible, retire.  Don’t put up with the stress and dissatisfaction.  Have activities outside of work.  Have friends outside of work.  Enjoy life. 

I can’t wait for every day to be Saturday except for Sunday, and to have 52 weeks of paid vacation a year.

**

An old salty legacy Customs Senior Inspector we all worked with would tell us, “It’s all Bullshit.”  Funny at the time, but the more I thought about it was not to get bogged down in the petty and mundane BS.  Focus on your family, health, friendships, case work, training, skills, and your personal finances/retirement goals.  26 years of civil service goes by in an instant.   

**

Do exactly as Chris Barfield recommends – max out TSP as soon as you can make ends meet at the beginning of your career and don’t move money around to different funds.  Don’t check your TSP balance before you’re about 2-3 years away from retirement.  Once you surpass the $1M balance mark (it took me about 20 years to do this), it’s crazy how quickly your balance can grow with a booming market.

**

Your job is not your identity.  Once you realize that, it will be easier to retire.

**

We work our whole adult lives to retire.  Stay healthy as best you can.  Contribute as much as you can to TSP, but still live your life..  Try to stay out of debt as much as you can, and if possible reduce it as you are approaching retirement.  Pay attention to the #s that your agency provides in terms of what your retirement #s will look like.  You will know when you are ready.  The water is warm!!!!

 **

I was given the good advice early on:  if after getting some experience with your agency for first few years you figure out a specific unit or program you would like to be involved with, identify experiences and training you may need to ultimately get selected for that assignment (whether it be promotion or a specialty). As was told to me, the agency is like a river and will keep moving you along throughout your career.  It’s up to you to find out what shore you want to get to and start rowing toward it.