RETIRE

After 40+ years fed service, just had an impressive pre-retirement class. It cast light on some previous misconceptions. This note addresses mainly CSRS workers but most concepts, do’s and don’t’s apply as well to FERS and private sector employees.

• DON’T retire if you don’t have to and want to retire
• You and any partner need to plan well ahead of retirement (or face disaster)
• If you saved WELL, lived well and have good post retirement income,
  • a 3.5% annuity on $1,000,000 (about $35,000 per year, gross), or more
  • could offset retirement income loss.
• While losing some deductions upon retiring, ADD several $100s of Medicare Each
• Best survivors have 30+ years of good capital asset (cash and RE)
• Retire to a no or low pension tax state (12, Alabama, Alaska, Florida, Mississippi, Nevada, New Hampshire, Pennsylvania, South Dakota, Tennessee, Texas, Washington, Wyoming) or ex-conus
• Find and retain (less than 1% of assets per year) Independent Retirement Adviser
• Might consider Chiriqui, Panama at Chiriqui Chatter blog
• or the Central Pacific coast at Costa Pedasi, Los Santos, Panama

More to follow ..