Browsing: Social Security

Q. I am 62 and plan on retiring in the next few months. My goal is to have $4000 per month after taxes in retirement income. My FERS annuity and Social Security get me to about $4100, pre-tax. I have $350,000 in my TSP. I figure that if I can take out a partial withdrawal of $50,000 for emergency funds and liquidity purposes, stay invested in the G Fund with the remainder, take equal monthly payments of $1300 and meet my post-tax income goal, then my TSP should last at least until I’m 87, when I don’t expect to need it…

Q. I am eligible to retire under FERS in January 2016 — at age 56 with 36 years of continuous federal service — and begin drawing a pension. As such, I am able to withdraw from my TSP without incurring the early withdrawal penalty. I am also eligible for the Social Security supplement. If I retire from federal service, begin drawing my pension, and take a job with a private company or start my own business, I understand that I will lose the Social Security supplement if my gross income exceeds a certain threshold, but will I still be able to…