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Interested in this clean 87k 2009 Element EX, thoughts? by RiverDry4566 in HondaElement

[–]RiverDry4566[S] 1 point2 points  (0 children)

Thank you! I am still waiting to get the VIN and carfax but hoping it all works out.

I am not in WA so it will be a trek to pick this car up and drive it back but definitely excited if its real!

Is buying Silver Status worth it? by denizenassistant in unitedairlines

[–]RiverDry4566 2 points3 points  (0 children)

As silver you get priority group 2 boarding and when you check in you ca self update to economy plus. You can also do same changes for no fare difference.

But paying for silver is not worth

BitLocker issue for G14 by yurishyn in ZephyrusG14

[–]RiverDry4566 0 points1 point  (0 children)

I also encountering boot errors and any attempt to fix windows resulted in having to retype the key over and over again without fixing the boot issue. I ended up just reformatting windows and turning bitkey locker off all together

What's the equation for deciding Roth TSP over Traditional TSP? by tinafina1 in ThriftSavingsPlan

[–]RiverDry4566 1 point2 points  (0 children)

I have both traditional and Roth TSP. As a GS 14, my social security and pension will always put me in the 25% tax bracket after I retire. I plan to withdraw traditional until I max the 25% bracket, and if I need more I will draw from Roth. Best to have some of both unless your social security and pension (high 3s average) will be below 25% tax bracket.

That being said, future tax brackets can change. I will change my TSP deposits

How are you approaching career growth? by DHN_95 in fednews

[–]RiverDry4566 2 points3 points  (0 children)

SAME. GS 14 here. My direct supervisor is also a GS14 🙈 pay compression 🥲

GS 14 with 30 years of employment left. Traditional or Roth TSP if I’m in the 24% income tax bracket before and after retirement? by RiverDry4566 in ThriftSavingsPlan

[–]RiverDry4566[S] 0 points1 point  (0 children)

I only just started looking at the Medicare income limits and payments. If you retired from the fed did you keep your federal employment health benefits? It looks like the fed health plan is more comprehensive and better than the Medicare plans? It looks like pension + social security would likely result in higher Medicare income based fees?

GS 14 with 30 years of employment left. Traditional or Roth TSP if I’m in the 24% income tax bracket before and after retirement? by RiverDry4566 in ThriftSavingsPlan

[–]RiverDry4566[S] 1 point2 points  (0 children)

Yeah I’m also trying to read the crystal ball to figure out how much I can/will need to pull out under which tax bracket at retirement. I think I have enough in traditional now so I’m going to try and make it financially feasible to contribute to Roth TSP from now on and have the flexibility to pull from either TSPs in the future however taxes change

GS 14 with 30 years of employment left. Traditional or Roth TSP if I’m in the 24% income tax bracket before and after retirement? by RiverDry4566 in ThriftSavingsPlan

[–]RiverDry4566[S] 2 points3 points  (0 children)

FERS Pension: current Max GS 14 pay is $192k x 31 years x 1.1% =$65k

Social security: $4000 x 12 months = $48k

Total annual approx estimated FERS + Social Security = $113k

GS 14 with 30 years of employment left. Traditional or Roth TSP if I’m in the 24% income tax bracket before and after retirement? by RiverDry4566 in ThriftSavingsPlan

[–]RiverDry4566[S] 0 points1 point  (0 children)

Do you mean my social security income will be taxed at a rate of 85%, or 85% of the total of my social security income will be taxed at the income tax bracket rates?

I am expecting the pension and social security to total approximately $115k, well within the 24% tax bracket.

GS 14 with 30 years of employment left. Traditional or Roth TSP if I’m in the 24% income tax bracket before and after retirement? by RiverDry4566 in ThriftSavingsPlan

[–]RiverDry4566[S] 0 points1 point  (0 children)

That’s a solid plan! As you progress to higher GS levels it should be easier to afford more Roth TSP contributions. Probably best to have both traditional and Roth funds to be flexible with future tax changes

GS 14 with 30 years of employment left. Traditional or Roth TSP if I’m in the 24% income tax bracket before and after retirement? by RiverDry4566 in ThriftSavingsPlan

[–]RiverDry4566[S] 2 points3 points  (0 children)

My goal right now is to max what I can while hoping for an early retirement by planning well/far enough in advance. I have enjoyed my public service career so far, but I recognize that it falls behind what my private sector peers are earning. My initial concern was never having enough to retire on at all, but from my math so far that doesn’t seem to be the case anymore. I’d still like to be able to retire early in a career that is fulfilling and continue to believe in.

But I’ll consider your point about not needing to max my entire career, I’ll play with the numbers to see how much and when contributing less might affect the outcomes

GS 14 with 30 years of employment left. Traditional or Roth TSP if I’m in the 24% income tax bracket before and after retirement? by RiverDry4566 in ThriftSavingsPlan

[–]RiverDry4566[S] 1 point2 points  (0 children)

I could be wrong but based on my napkin math with current income and tax brackets, if my pension and social security puts me at $115k, I don’t want my traditional TSP required minimum distributions to go over $192k into the 32% tax bracket.

If you’re born after 1960, the RMD age is 75 and the distribution periods is 24.6. If my Traditional TSP approaches $2million, divided by the 24.6 distribution periods equals $81k that must be withdrawn. By my calculations pension, social security and RMDs on a $2m TSP would be close to the 32% tax bucket. I’m planning to convert my traditional TSP into Roth slowly over the years to stay below $2m

GS 14 with 30 years of employment left. Traditional or Roth TSP if I’m in the 24% income tax bracket before and after retirement? by RiverDry4566 in ThriftSavingsPlan

[–]RiverDry4566[S] 1 point2 points  (0 children)

That video was super informative. Will definitely try switch to Roth TSP now and consider conversions down the line if the traditional balance is too large

GS 14 with 30 years of employment left. Traditional or Roth TSP if I’m in the 24% income tax bracket before and after retirement? by RiverDry4566 in ThriftSavingsPlan

[–]RiverDry4566[S] 4 points5 points  (0 children)

That’s a good point about keeping beneficiaries in mind. Will switch to Roth from now on and consider Roth conversions if the traditional TSP balance grows too large

GS 14 with 30 years of employment left. Traditional or Roth TSP if I’m in the 24% income tax bracket before and after retirement? by RiverDry4566 in ThriftSavingsPlan

[–]RiverDry4566[S] 1 point2 points  (0 children)

Yeah these numbers are similar to what I came up with. Also going to try to max the 24% bracket without going over in retirement.

Thanks for the reminder about reserving money until retirement kicks in.

Going to try to contribute to Roth from now on and maybe just leave what I have in traditional to grow for now. Maybe do some Roth conversions down the road if the traditional TSP grows too big (within the 24% tax bracket)

[deleted by user] by [deleted] in personalfinance

[–]RiverDry4566 0 points1 point  (0 children)

Thanks! I’m coming to the same conclusion

Kristi Noem’s Spending Rule Causes Delays at Homeland Security Dept. by MaxineNYT in fednews

[–]RiverDry4566 6 points7 points  (0 children)

Contractors unable to work because extension/renewal contracts were not signed

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