No. of Recommendations: 5
FoolMeOnce wrote:

Plan A: I decided early that I would devote my working years to public service. The federal government defined benefit plan is quite good as these things go. Retirement with an immediate annuity is possible at age 55 with 30 years service. Since I participated an a work study program with the Government while in college, I got an extra 4 years tacked on to my service time, even though I was not employed full time during that period. The result is that when I retire I will receive about 70% of my high three salary and maintain full health plan benefits. The pension is inflation-adjusted using the full CPI. I can enjoy my current standard of living on about 2/3 of this amount.

This is also my "Plan A".
Both my wife and I work for the gov'mint and will be eligible for our defined benefit plan (me in 2005, her in 2006)at age 39. Although we both want to stay a few extra years to maximize our retirement income. The income we recieve will be about about 60% of our current income after taxes and, because we live well below our means, will be our safety net should everything else go down the tubes.

I do also invest heavily in the equities markets, both stocks and bonds and am interested in the SWR discussions. If nothing else, they have driven me to find answers that will work for us and our situation.

I truly love the discussions here (even the heated ones!) as they inspire me to work harder managing our plan effectively.

Thanks all,

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