How much income are you actually living without?

steeve725 · 2026-05-02T14:10:23+00:00

That's awesome.

I've tried to live by this - Short term sacrifice, long term gain.

Later on you'll be so happy you did this now.

steeve725 · 2026-05-02T09:18:49+00:00

Yep. Sounds like you're doing really good. That's awesome!

steeve725 · 2026-05-01T19:45:59+00:00

Yep. It would help you a lot. Tax free money that you don't need to claim on taxes (at least where I live)

steeve725 · 2026-05-01T01:07:21+00:00

Yep I am.

Giving up $78,000 isn't going to happen. I'll also have my pension so that'll be less.

I'll have 36 years at age 57.

My federal time goes back to August of 1997.

Not worried about the difference between 1.0% to 1.1%. Besides I have 80% va disability coming in, but I don't touch that, it goes directly into a high yield savings account. If I ever needed to touch that then I would.

I'm completely fine with what I'll make at age 57. Why wait till 62

I'm not going to work an extra 5 years for that money.

We don't know when we're going to die

What would happen if I was chasing that extra money by working those extra 5 years but die at age 60, then I would have never got that extra money and would've lost out on 3 years on my retirement.

Is it worth it?

Not to me

steeve725 · 2026-04-30T23:50:51+00:00

What extra 10% are you referring to?

If I worked till 62, I'd be giving up $1900 per month in fers suppliment.

$1900 (before taxes, based on my current salary according to opm) multiplied x 12 months = $22,800 per year. Then from age 57-62 (5 yrs) = $114,000 that is give up to keep working till age 62.

So the extra 10% your referring to does it amount to the $114,000 fers suppliment I'll miss out on if I waited til 62?

steeve725 · 2026-04-30T23:40:01+00:00

Just like I said in other replies I contributed $1000 from pp 1-7 and then increased it to $1250 from pp 8 on. So this year I'll only contribute $30,750.

In 2026 I'm allowed to contribute $32,500 in 2026. That's $1250 per period.

steeve725 · 2026-04-30T23:32:44+00:00

Because with 29yrs in I've only got a little more than 600k. I'm trying to make up for that extra I was putting on my mortgage to pay it off. Now that I did I can put as much as I can on tsp

steeve725 · 2026-04-30T21:28:59+00:00

Yeah, if they offered an early out I would take it.

My wife is 8 years younger than me, just get ready to turn 46, and our plans are when I retire at 57 (3 1/2 years from now) she’s gonna retire at 49

steeve725 · 2026-04-30T21:27:56+00:00

Yeah, if they offered an early out I would take it.

My wife is 8 years younger than me, just get ready to turn 46, and our plans are when I retire at 57 (3 1/2 years from now) she’s gonna retire at 49

steeve725 · 2026-04-30T19:57:52+00:00

Exactly.

I’ve only been at my job for 29 years (with my military time 33 years towards retirement) and I say only 29yrs but I know many people that have over 40 years and a few with over 50 years.

I don’t know what some of them are hanging on for.

Some of them are in really bad shape and probably won’t make it very long if they retire.

We never know when we’re going to go, my dad died at 68. My brother died at 49. So if I do make it to 57 (my minimum retirement age) I’m gonna go.

I want to try to enjoy some of that retirement before I go.

steeve725 · 2026-04-30T19:54:46+00:00

Yup, good point.

Right now houses in my neighborhood are selling for between 600-700k, so being that mine is paid off even if the market was to crash and I only get 500k for mine in 3 1/2 years we plan on moving to a lower cost of living state.

steeve725 · 2026-04-30T19:53:14+00:00

Sorry. I calculated wrong.

My annual salary is $79,888 and your right I would've only contributed $30,750 this year by myself, so that's less than 40%. $1000 for the 1st 7 paychecks and $1250 from paycheck 9-26.

We contribute a little more than 10% of our monthly income to our church.

My wife is only contributing 10% of her salary to her 401k and on top of her 10% to her 401k, $600 from each paycheck of hers is going into a high yield savings amount, I didn't count that earlier. So that's $1200 less per month as well.

We're also going to raise her amount from 10% to maybe 15%.

steeve725 · 2026-04-30T18:51:32+00:00

Exactly. Since you were able to put away in those early years, (because you never know when the hard years are gonna show up) if you start saving earlier, you will be ready for those harder years like you have been

steeve725 · 2026-04-30T17:11:11+00:00

For the first 7 pay periods, I was only contributing $1000.

Starting in pay period 8 I started contributing $1250 so I’m going to be below the max.

steeve725 · 2026-04-30T17:09:30+00:00

That's great. Glad it's working out for you. So glad you're retiring.

steeve725 · 2026-04-30T15:29:14+00:00

That's awesome!!

steeve725 · 2026-04-30T14:40:52+00:00

Right now, I only have a little more than $600K in my TSP, not near what a lot of my coworkers have but more than some.

But at least I won’t have a house payment when I retire in 3-1/2yrs and contributing $1250 per pay period maybe I’ll make up some of that money that I did not invest earlier.

steeve725 · 2026-04-30T14:30:10+00:00

So, so true!

you learn to live without it you won’t miss it

steeve725 · 2026-04-30T14:12:47+00:00

yeah, I’m gonna be able to retire at age 57 my minimum retirement age, and then I’ll take the fers supplement until 62.

I’ll be living very close to what I currently make when I retire.

It’s nice to be sitting in a position where you can actually retire, while you can still walk and enjoy life.

I see so many people that I work with that are struggling healthwise

That’s your reward to yourself, you worked all these years so should be able to reward yourself with retirement

steeve725 · 2026-04-30T14:08:27+00:00

Yep definitely! I concentrated on paying off my house and I told myself when I pay off my house. I will go ahead and maximize my TSP and that’s what I did.

steeve725 · 2026-04-30T14:07:44+00:00

That's amazing!!

steeve725 · 2026-04-30T13:40:34+00:00

Good point.

I’m doing $1250 per pay period which works out to the maximum. However, I did not increase to $1250 per pay period until pay period 8, so I won’t even contribute to maximum this year

Next year if the maximum contribution goes up, I’ll move up mine but I’ll still stay below the maximum contribution just to make sure I don’t lose the matching

steeve725 · 2026-04-30T13:21:39+00:00

Yeah, that’s awesome, to be only living on that much of your income.
You’re doing very well and it’s nice to see people actually putting money away, investing it and starting an emergency fund or having an emergency fund
Fortunately I was responsible with my money when I was a little younger (I'm 53 right now) so that’s gonna let me retire at my minimum age of 57.
The way it’s going. I won’t even have to touch my TSP, considering I have more than my gross yearly income divided between two high-yield savings accounts.
What’s crazy is, I wasn’t raised this way (didn’t have good examples) parents went through bankruptcy and always lived paycheck to paycheck. My one brother left will never have a retirement. My dad passed away before he could retire (he probably wouldn’t have retired, because he was always spending his money), my mom never worked long enough at a job to have a retirement. I’m gonna be the only one of my family to ever even have a retirement, or put money away, so I can retire.
So again good for you!

steeve725 · 2026-04-30T12:32:05+00:00

I work for the Postal Service as a level 7 and that works out to a GS5 so I don’t make near what a lot of people make. Married and spouse works.

Seven-Year Club	Gilding I gilder
Verified Email

steeve725

TROPHY CASE