u/the_falconator

Factoring in pensions to retirement savings.

Trying to figure out how to factor in my pensions into retirement savings. I'm currently 32. From my city job I'm eligible to collect at 48, and I tried to estimate a reasonable position based on expected promotions and the current pay rate for that position, but potentially I could advance past that and stay longer and acrue a higher rate. For the national guard pension with my deployment time I can collect 2 years early at 58, after an 18 year gap if I retire from that at 40. Also a rough estimate based on expected points and today's pay rates. I'll also get some amount of social security but it's hard to calculate how much to expect right now. Here's where I'm at right now in terms of retirement:

City Pension estimated value today's dollars: $5480/month at age 48

VA disability: $2074/mo currently receiving

National Guard pension estimated value today's dollars: $1250/mo at age 58

Social security: ???

Current retirement specific accounts:

457b: 105k pretax

Roth TSP: 124k

Roth IRA: 125k

Not sure if I'm at the point where I should dial back the retirement contributions and focus on other avenues. I also have some investments outside of the retirement accounts I might want to tap for things prior to retiring.

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u/the_falconator — 8 days ago