Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
I take guidance from an advisor ‘Kathie Daisy Bosco’ To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thanks for putting this out, curiously inputted Kathie on the web, spotted her consulting page and was able to schedule a call session, she actually shows a great deal of expertise.
Great example about needing your hips replaced while working or retired. I had bone on bone on both hips, my left was replaced in early 2022 and my right was replaced in Nov. 2023. turned 60 this year, have 32 1/2 years in with DoD and still working. My decision was made based on quality of life, i couldn't wait it out until retirement
You only increase your FERS pension by 0.083% of your high 3 annual salary for every month of sick leave you retire with. Partial months count for 0. So if you made $100k a year and retired with 6 months sick leave, then you'd get an extra $500/year in your pension. That's something, but not that much to stress over. Better to take a few weeks sick leave and lose $80/year in pension than to work when sick or need car.
I think you should add the # of years in retirement you hope to live to collect the ~$83 per month to add to your decision process--of course, no one knows that answer.
@@Steve-yl1yg: That’s true. My brother chose to retire and start drawing social security at age 62. I thought that was a big mistake; that he should wait until he was eligible for a higher benefit. It turned out that he was right, as he unfortunately died of lung cancer at age 68. (He was a cigarette smoker.) At least he got a few years to enjoy himself. 😢
Missing context about what that 'additional' longevity on your pension really equates to...a paltry amount, typically. My FERS is my second retirement...I have about 15 years worth of sick leave. That'll mean a whopping $15/month to me in retirement if I don't use it before then. Enough to buy a burger or two somewhere by then. Knowing how 'valuable' (or not) that leave may be to you is key. I'm choosing to use as much as I need to before retirement given the paltry benefit to the pension it will bring one day. Don't forget bereavement periods are covered by sick leave, as is support to family members with serious illnesses. Check to see if you can use any for those types of things. Would be good to also mention that sick leave not used before retirement only counts in whole month increments, adding to the confusion and painful calculation of what you ultimately get - or don't.
If I have a year of sick leave and retire with 30 years of service, I get credited for 31 years of service with 30 at full pay. If I have surgery at year 30 of my career and am off for a year at full pay, I am credited with 31 years of service with 31 years of full pay.
This is interesting. I worked 30 years and had over 2,000 hours of sick leave. Tore my rotator in my shoulder ( at home, not at work). I've been out of work for three months. Thought I screwed up my retirement. I wanted to add the extra year to my career. Reading your comment, I think that I will be ok.
I was hoping this video would tell me how sick leave affects my pension. What are the numbers? I see some answers to this in the comments but don’t know how accurate they are. Is there another video that addresses this?
I retired at age 53 and am now in my early 60s. Many people resisted me because they couldn't understand the idea of not working if you don't have to. I considered my life to be in phases. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses." After I retired, I left the nation and now reside in Latin America. I was able to enjoy my new surroundings and escape from all the bad things that were going on in America. I haven't yet encountered anyone who laments their retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Deborah Lynn Dilling who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
This is huge! would you mind revealing info of your advisor here please? in dire need of portfolio rebalancing
I take guidance from an advisor ‘Kathie Daisy Bosco’ To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thanks for putting this out, curiously inputted Kathie on the web, spotted her consulting page and was able to schedule a call session, she actually shows a great deal of expertise.
Great example about needing your hips replaced while working or retired. I had bone on bone on both hips, my left was replaced in early 2022 and my right was replaced in Nov. 2023. turned 60 this year, have 32 1/2 years in with DoD and still working. My decision was made based on quality of life, i couldn't wait it out until retirement
You only increase your FERS pension by 0.083% of your high 3 annual salary for every month of sick leave you retire with. Partial months count for 0. So if you made $100k a year and retired with 6 months sick leave, then you'd get an extra $500/year in your pension. That's something, but not that much to stress over.
Better to take a few weeks sick leave and lose $80/year in pension than to work when sick or need car.
I think you should add the # of years in retirement you hope to live to collect the ~$83 per month to add to your decision process--of course, no one knows that answer.
@@Steve-yl1yg: That’s true. My brother chose to retire and start drawing social security at age 62. I thought that was a big mistake; that he should wait until he was eligible for a higher benefit. It turned out that he was right, as he unfortunately died of lung cancer at age 68. (He was a cigarette smoker.) At least he got a few years to enjoy himself. 😢
Missing context about what that 'additional' longevity on your pension really equates to...a paltry amount, typically. My FERS is my second retirement...I have about 15 years worth of sick leave. That'll mean a whopping $15/month to me in retirement if I don't use it before then. Enough to buy a burger or two somewhere by then. Knowing how 'valuable' (or not) that leave may be to you is key. I'm choosing to use as much as I need to before retirement given the paltry benefit to the pension it will bring one day. Don't forget bereavement periods are covered by sick leave, as is support to family members with serious illnesses. Check to see if you can use any for those types of things.
Would be good to also mention that sick leave not used before retirement only counts in whole month increments, adding to the confusion and painful calculation of what you ultimately get - or don't.
If I have a year of sick leave and retire with 30 years of service, I get credited for 31 years of service with 30 at full pay. If I have surgery at year 30 of my career and am off for a year at full pay, I am credited with 31 years of service with 31 years of full pay.
This is interesting. I worked 30 years and had over 2,000 hours of sick leave. Tore my rotator in my shoulder ( at home, not at work). I've been out of work for three months. Thought I screwed up my retirement. I wanted to add the extra year to my career. Reading your comment, I think that I will be ok.
I was hoping this video would tell me how sick leave affects my pension. What are the numbers? I see some answers to this in the comments but don’t know how accurate they are. Is there another video that addresses this?
I retired at age 53 and am now in my early 60s. Many people resisted me because they couldn't understand the idea of not working if you don't have to. I considered my life to be in phases. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses." After I retired, I left the nation and now reside in Latin America. I was able to enjoy my new surroundings and escape from all the bad things that were going on in America. I haven't yet encountered anyone who laments their retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Deborah Lynn Dilling who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.