Want to retire this year


Q. Current age: 56

Entered U.S. Navy active duty: May 1978

Active-duty military time: 11 years, four months

Retired reservist after 26 years as an O-5

Entered civil service: November 1997

Current paygrade: GS-9, Step 8

Received a $30,000 severance pay when released from active duty in January 1989

Points accumulated, active and reserve, for retirement: 5,245

What do I need to do to retire at the end of this year? I know you can’t tell me what I should do, but if you could give me guidance as to what I need to do so I can make an informed decision I would greatly appreciate it.

A. The analysis needed to make this determination can be quite complex since there are multiple variables and probabilities involved. Mistakes can be costly and irreversible, so you need to get it right the first time. I suggest that, if you’re not a professional pension fund manager, or have equivalent expertise, you find a trustworthy, affordable person to help you with the decision.


About Author

Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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