Some of us have made it, some of us are approaching it with glee, some of us don't have a clue how we're going to handle it. So I figured I'd start a thread to discuss retirement.
I recently discovered that, as a gummint employee, I could add my military time (1 year, 11 months, 11 days) to the calculation of my retirement fund, but it would cost me 7% of my total income during that time, plus interest. The two years adds a significant amount to the pension payout. My military experience was reasonably successful from a personal basis. I made Sergeant (E5) in 15 months, so of the various draftees, I certainly did well. As I recall, that promotion put me over $200 per month. So just to toss a few numbers around, I figure I averaged about $150 per month for 24 months (just to keep the numbers easy to deal with). If those figures are remotely close to being accurate, I made a grand total of $3,600. 7% of that is $252. Nearly 40 years of interest (I have no idea what the rate is) might bring that up to $1,000 that I would have to pay into the fund in order to get about 2,000 per year raise in my pension.
Should I go for it, or will I die within six months of retirement?
--I know what I like--