2023 FIRE cohort

[Retiring gaijin]

Hello. This is my first post, but I am aiming for 31 March 2023

[TomTX]

Welcome!

[I'm Fred]

Peace out Dudes!  Moving up to end of year 2019. 

I will work post retirement for entertainment/snacks/vacation funds/brain enhancement/weird job perks

[TomTX]

Yep, you do need an intervention!

The job sucks, quit now!

No sense pissing around for another 6 months, you've won the game. Why waste the best 6 months of your retirement at work you don't like‽

Edit: Yes, that's an interrobang. Deservedly so.

[I'm Fred]

Interobang - see I already learned something new.  I always thought you had to use both and never knew it had a real name!?  I used to have a coworker who was fond of the multiple  exclamation point when he was purposely trying to over emphasize something!!!  I can't tell you how many sarcastic responses I had to his emails!!!/!$?

Thanks for the encouragement.  I'll be staying through Oct at minimum for emotional (stooopid!) reasons and also pension is per year and another year worked occurs in Oct.

[Mmm_Donuts]

01/2023 Mmm_Donuts
03/2023 Retiring gaijin
04/2023 PhrugalPhan
04/2023 SEAK
04/2023 FIREupDOOON
05/2023 TomTx
05/2023 Wanttobehome
05/2023 dougules (44) - could vary a lot
06/2023 friedmmj
10/2023 Phryne
10/2023 Mathew675
11/2023 frugal rph
12/2023 Bateaux
12/2023 beer-man
12/2023 CindyBS
12/2023 FI Curious
12/2023 garyjames8
12/2023 grantmeaname
12/2023 Landlady
12/2023 Le Dérisoire
12/2023 NESailor
12/2023 OurTown
12/2023 PVkcin
12/2023 RedHotLama
12/2023 rpr
12/2023 SpeedReader
12/2023 Spiffsome
12/2023 Stache-O-Lantern
12/2023 stupidiot8
12/2023 UKstu2017
12/2023 wannabe-stache

OLY:

12/2019 I'm Fred
12/2021 Arbitrage

OMY:

12/2027 FireryFIRE

[grantmeaname]

Ugh four and a half more years.

Re: the OLY folks: fuck yeah! Rock on!

[PhrugalPhan]

Attended a mid-career retirement class today.   I'm @ 4 years and a few days.  Less any sick leave I can accumulate to use towards time of service.  I learned a few useful pieces of info.

Next week I can start saying three years and x months to go.

[Mmm_Donuts]

Sometimes four years seems like a long way out. Lately I've been reading the entire Class of 2019 and Class of 2020 threads, to read people's thoughts when they were also 4 years out, but are now retiring this or next year. It's inspiring to read! Even though they went through the same trepidation and impatience, they made it happen, we can see their work chapters closing.

Also lately I've been looking back on my 2015 calendar. Remembering that trip I took 4 years ago. That night out with friends. The time distance becomes more tangible. Yes, I remember that day, it doesn't seem like that long ago. That's what 4 years feels like. Maybe not so bad?

I also need to remember to enjoy where I'm at NOW, instead of counting down the days till retirement. I've made some effort to make my work situation better instead of counting the days down and suffering / powering through. I want the next 4 years to be not just manageable at work, but somehow enjoyable. Not easy to do but I'm going to do my best!

[OurTown]

^^^ Good thoughts! ^^^

[friedmmj]

Attended a mid-career retirement class today.   I'm @ 4 years and a few days.  Less any sick leave I can accumulate to use towards time of service.  I learned a few useful pieces of info.

Next week I can start saying three years and x months to go.

It’s crazy how much we think alike.  I’m finished in June so I have a few more months than you.  I was thinking the other day how after the 4th of July this year I will only need to work through 3 more 4th of July holidays.

[PhrugalPhan]

Attended a mid-career retirement class today.   I'm @ 4 years and a few days.  Less any sick leave I can accumulate to use towards time of service.  I learned a few useful pieces of info.

Next week I can start saying three years and x months to go.

It’s crazy how much we think alike.  I’m finished in June so I have a few more months than you.  I was thinking the other day how after the 4th of July this year I will only need to work through 3 more 4th of July holidays.

Hah, here we have a annual "length of service" award ceremony.  Most people really could do without it.  So I had to stand up in front of everyone a few weeks ago.  My buddy said afterwards "At least we don't have to do that for another five years."  He knows I am leaving in 4 years, so he followed that up with: "Oh I forgot.  That is probably the last time you are doing that."  "If for some reason I am still here for the next time I won't show up, no ifs, ands, or buts.  I'll quit first."

[SpeedReader]

I work with Federal contracts, many of which have effective periods of five years or more.  I've been reminding myself that once we get through this round, I will never have to negotiate **this** contract again.  It's a sanity-saver.

[Jantoven]

Going to toss my name into the hat!  Will turn 40 in 2023.  For now, I'll just target 12/2023.  DW plans to keep working since she loves her job, but I have let her know if she wants to join me, the door is open to join.  As a result, my intent is to keep working until we have enough as a team, so that she can join me in retirement if she wants.

DW and I live in a very HCOL city, so our FIRE date could be accelerated if we move elsewhere, but my entire family's out here, so a move will probably not happen.

[TomTX]

Hi, Jantoven!

[Jantoven]

Hi, Jantoven!

Hi there, thanks for the welcome!  Looking forward to watching this group expand as the date gets closer.  4 years sounds like a lot of time, but with how quickly time seems to fly, it'll be 2023 in no time :)

[friedmmj]

Wondering how the rest of you folks are set up with regard to life insurance.  Kids are now almost fully grown (youngest turns 18 this summer).  I have a level term life policy that is currently in year 12 of 15 with an $850k benefit.  I'm planning to just ride out the last 3 years of premiums ($400/year) thru 2022 and then go sans life insurance in retirement.

[grantmeaname]

If you have enough money for the rest of your life, there is no risk that you need life insurance to mitigate, right? If you died the day after you FIREd, it would suck for all the nonfinancial reasons that death is hard, but your family would have enough. (It may still make sense for some to get it for estate planning or tax reasons.)

[Jantoven]

Wondering how the rest of you folks are set up with regard to life insurance.  Kids are now almost fully grown (youngest turns 18 this summer).  I have a level term life policy that is currently in year 12 of 15 with an $850k benefit.  I'm planning to just ride out the last 3 years of premiums ($400/year) thru 2022 and then go sans life insurance in retirement.

The wife and I have term life insurance via our employer since it's really cheap, but we also have our own outside term insurance that we got a few years back that covers 20 years.  At ~$350 per year, it's not too bad and ensures if anything should happen to me, my wife will be totally covered (and vice versa).  That said, we probably don't need to keep it for 20 years.  In about 5 years, we might re-visit whether we need to keep the policies.

[TomTX]

I have cheap term life through my employer, wife has cheap term from outside which ends in...2023.

[PhrugalPhan]

If you have enough money for the rest of your life, there is no risk that you need life insurance to mitigate, right? If you died the day after you FIREd, it would suck for all the nonfinancial reasons that death is hard, but your family would have enough. (It may still make sense for some to get it for estate planning or tax reasons.)

^^ Perfect answer. 

I had to have a conversation with the GF about this a few weeks ago.  She kept asking how she will pay for "x" if I died.  First I have life insurance through my employer (1 x salary) and she is the beneficiary.  What about after I retire?  She'll be the direct beneficiary on my retirement accounts and she'll have an F-ton of money to cover the expenses.  I finally told her if she wants, when I am retired and we are living together we can figure out how much an insurance plan would cost us, and we can setup a separate life insurance retirement investment account.  We'll contribute to it each month with insurance "payments" and make investments with the money.   She seemed to like that idea, but I will have to make sure she isn't trying to kill me now - ack.

On a similar note... has anyone signed up for those free $1,000 life insurance offers credit unions and similar will send out to members?  They try to get you to sign up for more at a fee?  They are supposed to be good for life, no need to renew or things like that.  I have 3 of them in my financial documents.  My GF surprised me and said she had 2 of them as well.   Anyone have these?  Hear of any of them actually paying out $1,000?

[PhrugalPhan]

Well its not much different from a week ago but.... I can now say 3 years + X months to retirement.  In one way it still feels like a long time.  But being able to say "three years" as part of how long I have to go sure sounds great.

[Jantoven]

Well its not much different from a week ago but.... I can now say 3 years + X months to retirement.  In one way it still feels like a long time.  But being able to say "three years" as part of how long I have to go sure sounds great.

That does sound awesome!  I'm just plodding along here.  I'm probably more like 4 years + X months, which sounds way longer haha, but time tends to fly by. 

[friedmmj]

Last night I set up an alternate excel model to move up my retirement date 12 months to June 2022.  I'd say I'm about 25% likely to go that route.  Decision date will be made in Jan-2022 based on progress towards overall goal of $2M in NW.

[Phryne]

Last night I set up an alternate excel model to move up my retirement date 12 months to June 2022.  I'd say I'm about 25% likely to go that route.  Decision date will be made in Jan-2022 based on progress towards overall goal of $2M in NW.

I also have an alternative (not fully funded!) model which sees me out 10 months earlier (Dec 22 rather than Oct 23). I usually work from home but am in the office today & the corporate BS is making that earlier date SO APPEALING! I so don't want to be inside today, let alone in an office block in the city. :-(

ETA- sorry, that was whingy!!

[frugal rph]

I got a promotion at work so that I now have a better schedule, almost no commute, and a $10k raise, but I now have a ton of job stress.  I'm hoping to parlay the extra salary into being able to cut back to on call at the beginning of 2023 rather than in November. If I can't get things cleaned up and running smoothly in a few months, I may consider a much skinnier early retirement in 2020.

[Jantoven]

I got a promotion at work so that I now have a better schedule, almost no commute, and a $10k raise, but I now have a ton of job stress.  I'm hoping to parlay the extra salary into being able to cut back to on call at the beginning of 2023 rather than in November. If I can't get things cleaned up and running smoothly in a few months, I may consider a much skinnier early retirement in 2020.

Congrats on the promotion, but sorry about the stress.  Would you be able to do a skinny "retirement" in 2020 while per dieming as a pharmacist?

[frugal rph]

I should still be able to work per diem as a pharmacist if I step down in 2020, however my boss will not be happy with me for leaving so soon and may retaliate by cutting my hourly rate a lot more. I really should stay at least 3 more years. Then my son will be home from high school before my daughter and able to watch her until I get home. Until then, I'll need at least some child care when I'm working which is hard to arrange on an irregular or last minute basis.

Pharmacy is getting more saturated every year, and if i get out too early, I'll never get back in full time anywhere close to what I'm making now.  The smart play is to wait til 2023, but i hate this job stress.

[Jantoven]

Pharmacy is getting more saturated every year, and if i get out too early, I'll never get back in full time anywhere close to what I'm making now.  The smart play is to wait til 2023, but i hate this job stress.

Perhaps you could just take it year-by-year and reassess.  I know every area is different, but pharmacy seems to be a field in which there are a number of opportunities to per diem, just perhaps not at the number of hours you desire.  I'd try to plow through what you can, save up what you can, then if you feel the burn out is getting intense, start putting out feelers about the per diem route, and see what opportunities that may lead you to.

Also, there are a number of pharmacy chains out there - perhaps you could see if you could per diem for a different chain, if your current one does not provide you with the hours you'd want?

[PhrugalPhan]

Uh oh.  After this Friday's uptick in the markets, and my bi-weekly contribution to my 457 account and to my savings... I have … OMG … 7 digits when I add up all of my financial accounts (and I do mean everything!).  No pension, house, car etc... but everything else.  Now I am only $100k or so behind my GF's numbers (though she doesn't have a house).

Is this the place where I scream "The Top is In" and everyone should be running to invest in gold???  Don't say I didn't warn ya...

[friedmmj]

Uh oh.  After this Friday's uptick in the markets, and my bi-weekly contribution to my 457 account and to my savings... I have … OMG … 7 digits when I add up all of my financial accounts (and I do mean everything!).  No pension, house, car etc... but everything else.  Now I am only $100k or so behind my GF's numbers (though she doesn't have a house).

Is this the place where I scream "The Top is In" and everyone should be running to invest in gold???  Don't say I didn't warn ya...

Congratulations on that milestone.  I wouldn’t suggest changing much of anything due to this arbitrary level of asset accumulation but maybe consider starting to dial back your equity allocation.  I’m at 60% and considering a move towards 55%.

[PhrugalPhan]

Uh oh.  After this Friday's uptick in the markets, and my bi-weekly contribution to my 457 account and to my savings... I have … OMG … 7 digits when I add up all of my financial accounts (and I do mean everything!).  No pension, house, car etc... but everything else.  Now I am only $100k or so behind my GF's numbers (though she doesn't have a house).

Is this the place where I scream "The Top is In" and everyone should be running to invest in gold???  Don't say I didn't warn ya...

Congratulations on that milestone.  I wouldn’t suggest changing much of anything due to this arbitrary level of asset accumulation but maybe consider starting to dial back your equity allocation.  I’m at 60% and considering a move towards 55%.

Other than my savings & CDs I am almost totally equities (maybe 95% of the total).  Maybe seems reckless, but... I have a pension coming in less than 4 years.  Then SSI in 9-ish years.  As those two combined will give me much more than a 4% withdrawal from my stash (as it stands now - $60k/yr fixed vs. $40k/yr stash) I look at my non-equity percentage as really being more than 50% already.    I am very reluctant to lower my equity allocation now, though I understand the rationale. And my yearly expenses are currently under $20k most years, so I look at the stash as fun money for now.

[FrugalSaver]

Peace out Dudes!  Moving up to end of year 2019.  The job stress is obscene.  Current stats by SWAG

-2.6m assets  mostly in index funds/401k etc/200k cash
house not included because you have to live someplace=value 400k net after sale - no mortgage
-4k/month pension upon retirement
-wife will continue to work 3-8 years because she wants to - 100k/y salary + lots of frequent flyer miles for vacation fun

I will work post retirement for entertainment/snacks/vacation funds/brain enhancement/weird job perks
Have work due tomorrow and am watching movies on Netflix.  I like to think I can handle anything, but it's getting to me and I can't.  Time to go.  I guess that's what having FU money is all about.  What do I do for a living - not saying - will post about it after retirement and decompression.

PS - I don't need an intervention and I'm not jumping off a bridge (really, as if).  I like myself too much for that and what if you jumped and then changed your mind on the way down.  That would suck.  Job blows, but I'll get through six more months no problem.  Just venting.  May the compounding be with you my friends.

Would you mind sharing age?

[dougules]

Uh oh.  After this Friday's uptick in the markets, and my bi-weekly contribution to my 457 account and to my savings... I have … OMG … 7 digits when I add up all of my financial accounts (and I do mean everything!).  No pension, house, car etc... but everything else.  Now I am only $100k or so behind my GF's numbers (though she doesn't have a house).

Is this the place where I scream "The Top is In" and everyone should be running to invest in gold???  Don't say I didn't warn ya...

The top IS in.

https://forum.mrmoneymustache.com/investor-alley/top-is-in/

[ScreamingHeadGuy]

Uh oh.  After this Friday's uptick in the markets, and my bi-weekly contribution to my 457 account and to my savings... I have … OMG … 7 digits when I add up all of my financial accounts (and I do mean everything!).  No pension, house, car etc... but everything else.  Now I am only $100k or so behind my GF's numbers (though she doesn't have a house).

Is this the place where I scream "The Top is In" and everyone should be running to invest in gold???  Don't say I didn't warn ya...

This is awesome!  *clap clap clap clap clap*

[Mmm_Donuts]

% to FIRE:

January 1 2019: 64%
March 1 2019: 68%
April 1 2019: 69%
May 1 2019: 72%

Not sure if I should be thinking this way but once we're at 80% I would feel safe retiring. We could either go for a 5% WR or downsize the house to get to 4% (or some combo of both). 80% will be time to weigh the options.

[friedmmj]

% to FIRE:

January 1 2019: 64%
March 1 2019: 68%
April 1 2019: 69%
May 1 2019: 72%

Not sure if I should be thinking this way but once we're at 80% I would feel safe retiring. We could either go for a 5% WR or downsize the house to get to 4% (or some combo of both). 80% will be time to weigh the options.

Curious, does this sudden uptick in your trajectory have you considering OLY?  I am currently sitting at 69% of my 2022 scenario and my stance has shifted to more likely than not to move it up a year to June 2022.  I've also started dialing back my equity allocation in concert with the acceleration date. 

How many of you are considering OLY?  When did you start seriously contemplating it?

[Mmm_Donuts]

For me it’s very difficult to chose an exact FIRE date because I have no idea how markets will perform. I’d say 2023 is realistic / not overly optimistic date because I’m expecting a crash or correction between now and then. I’d rather be pleasantly surprised and retire earlier than be counting on a 2020 retirement that doesn’t happen.

One thing I know is our target number will not get higher as we get closer. If anything I might get fed up with work and do OLY before we get to our outside target, as we do have some options like downsizing the house or working PT. If there’s anything this forum has taught me it’s that the closer people get to their targets, the more insecurity that crops up and puts them in a OMY mental loop. I’d like to resist that temptation.

[PhrugalPhan]

100 to go.  Pay periods that is (counting days left in the office is still too depressing).  After 100 more I can retire with a pension right away.  Actually can do earlier if I have sick/annual leave in surplus, but still its another milestone crossed.

[friedmmj]

For me it’s very difficult to chose an exact FIRE date because I have no idea how markets will perform. I’d say 2023 is realistic / not overly optimistic date because I’m expecting a crash or correction between now and then. I’d rather be pleasantly surprised and retire earlier than be counting on a 2020 retirement that doesn’t happen.

One thing I know is our target number will not get higher as we get closer. If anything I might get fed up with work and do OLY before we get to our outside target, as we do have some options like downsizing the house or working PT. If there’s anything this forum has taught me it’s that the closer people get to their targets, the more insecurity that crops up and puts them in a OMY mental loop. I’d like to resist that temptation.

That's an interesting range you are playing with in terms of FIRE date being 2020 vs 2023.  At this point I am 95% sure I will be done by 2023 and am thinking it's 60-70% likely to move into 2022.  The other 5% would be some downside scenario having me work past 2023 while I'm virtually certain it won't be before 2022 due to rule of 55 and early retiree benefits at work kicking in that year.  I'm hesitant to move into the 2022 thread until I'm around 90% sure.

[Mmm_Donuts]

The retirement benefits at 55 would make planning a little more certain! For us we're funding retirement entirely via savings. So the plan is more malleable and there's no solid incentive to stay in our jobs till x date.

Just running some cfiresim calcs:

FIRE year / success rate on current path (keeping jobs and current home):

2020: 62% success rate
2021: 80%
2022: 92%
2023: 99%

And if we downsize the house by 25% of its current $ value in 2022 (earliest we'd be ready to move):

2020: 92%
2021: 99%
2022: 100%

ETA: When I see the numbers put this way it's a no brainer to pull the plug, retire in 2020 and downsize moderately in a couple of years. However I will have to convince the spouse to make this move.

[Angelhair]

1460 days left before retiring. (6-1-2023)???  or 1095 days if I go 6-1-2022??

Is this correct?

[garyjames8]

Hi Angelhair,

Love your use of the exact number days as a countdown tool.

For working out the number of days try the following calculator from the ATO in Australia:

https://www.ato.gov.au/Calculators-and-tools/Calculate-days/

I used to use this tool when I worked for H&R Block and I still use it quite frequently in my current Government job.

Hope the tool helps.

I am sure it can help others in the ‘23 cohort too.

Kind Regards,

Gary
In ‘23 I will be free

[PhrugalPhan]

OK 2023'ers its time for your half year progress reports.

==============
Investments
==============
Well after after last year's swoon in the fall and zoom back up in the spring my investments are back on track - for now anyway.  I ended last year with investments of $825,000 and now am at $1,004,000.  Looks great, but middle of last September I was around $975,000, so not that amazing when looked at that way.  The investments this year include contributions of almost $50k, but still a nice rebound this half year.

===============
Everything Else
===============
The first half of the year is the nose to the grindstone part of the year for me.  All my vacation days will be taken after July 1st. (Seriously - I used only 1 vacation day so far, but will use 20+ days the upcoming 6 months, and will have 8 holidays too)   Also will have maxed out 457 plan contributions by the end of July.   Same story on upcoming expenses - they will happen sooner or later, but avoiding them for now.

I am still doing two-a-day workouts at work, so no change there yet.   I have mostly recovered from throwing out my back in January.  I have modified my workouts slightly to accommodate it for now and am doing better.

My ebay sales have been so-so, maybe $1,200 so far. 

At work I am still on the PFH.  Its gotten sorta better, but still management wants to keep me on this wreck (I put in a request to get off of it - no, they want me where I am).  Sigh.

==================
Not so Random Item
==================
Last week I tried to determine how much my pension and social security payments will be when I turn 70.  Then based on the RMD factor tables, I figured how much I could have in my 457 plan as pre-tax before RMDs pushed me into a higher tax bracket than I am today (which also affects IRMAA surtaxes too).  My rough estimate is I am only a few thousand from that amount today.   UH OH!  This means I should be trying to contribute as much as possible as Roth NOW.  I have been ratio-ing my contributions at 90% Roth / 10% traditional since March.  But if I max out 100% Roth I will go into the higher tax bracket next year and maybe even this year.  Something I am going to have to keep on top of from this point forward.

I will try to convert traditional to Roth after I retire, but I won't have a ton of space due to my pension, and since this pre-tax amount should continue to grow its possible I may never be able to get ahead of this tax bomb.  A first world problem I suppose, but one I was hoping to avoid.

==================
For me I am under 4 years to go, 3 years & 9 months.  I could leave even earlier if I want to bank a ton of leave, though I doubt I will go that route.  So onward and upward.

[Slow road to freedom]

Wow PhrugalPhan, great progress - congrats.

My update: Total of all pots circa £850k now. A decent half year of saving, and resisted the temptation to spend a lump of cash on a new kitchen :-)

Aiming for another £100k to save over next 12 months.

2023 looking achievable, although beginning to doubt whether a £1m target is 'enough'. OMG. Pulling the plug might not be so easy...

[Stache-O-Lantern]

Our investable assets are currently 41.5% of our target amount.

As of 1-Jan-18 our investable assets are exactly 50.0% of our target amount.

As of 1-Jul-18 our investable assets are 53.5%  of our target amount.

As of 1-Jan-19 our investable assets are 49.8% of our target amount.

As of 1-Jul-19 our investable assets are 59.1% of our target amount.

It was quite a run-up in the market these last 6 months.  In other news, I got a new job, at a 21% raise plus better benefits, that still allows me to work 85% time.  With the vesting schedule for some of the benefits, i won't be fully vested by the end of 2023, so there will be some OMY temptation for me.  Also since FIRE in 2023 is aggressive for me.  Our investable assets need to grow at 14%/year (including savings) for us to hit our number then.  As the overall amount gets bigger, it gets harder for savings rate to make up any difference.  And of course the top is probably in for years, which would screw up everything.  But since my FIRE plans always included on-call work in my field, which is reasonably well-compensated, I'm probably still pretty safe.

[OurTown]

The Top is always In!

We are at $559k invested.  Mortgage balance is about $120k.  When I get those numbers to approximately $1m and $0, respectively, I should be done.

[friedmmj]

OK 2023'ers its time for your half year progress reports.

==============
Investments
==============
Well after after last year's swoon in the fall and zoom back up in the spring my investments are back on track - for now anyway.  I ended last year with investments of $825,000 and now am at $1,004,000.  Looks great, but middle of last September I was around $975,000, so not that amazing when looked at that way.  The investments this year include contributions of almost $50k, but still a nice rebound this half year.

===============
Everything Else
===============
The first half of the year is the nose to the grindstone part of the year for me.  All my vacation days will be taken after July 1st. (Seriously - I used only 1 vacation day so far, but will use 20+ days the upcoming 6 months, and will have 8 holidays too)   Also will have maxed out 457 plan contributions by the end of July.   Same story on upcoming expenses - they will happen sooner or later, but avoiding them for now.

I am still doing two-a-day workouts at work, so no change there yet.   I have mostly recovered from throwing out my back in January.  I have modified my workouts slightly to accommodate it for now and am doing better.

My ebay sales have been so-so, maybe $1,200 so far. 

At work I am still on the PFH.  Its gotten sorta better, but still management wants to keep me on this wreck (I put in a request to get off of it - no, they want me where I am).  Sigh.

==================
Not so Random Item
==================
Last week I tried to determine how much my pension and social security payments will be when I turn 70.  Then based on the RMD factor tables, I figured how much I could have in my 457 plan as pre-tax before RMDs pushed me into a higher tax bracket than I am today (which also affects IRMAA surtaxes too).  My rough estimate is I am only a few thousand from that amount today.   UH OH!  This means I should be trying to contribute as much as possible as Roth NOW.  I have been ratio-ing my contributions at 90% Roth / 10% traditional since March.  But if I max out 100% Roth I will go into the higher tax bracket next year and maybe even this year.  Something I am going to have to keep on top of from this point forward.

I will try to convert traditional to Roth after I retire, but I won't have a ton of space due to my pension, and since this pre-tax amount should continue to grow its possible I may never be able to get ahead of this tax bomb.  A first world problem I suppose, but one I was hoping to avoid.

==================
For me I am under 4 years to go, 3 years & 9 months.  I could leave even earlier if I want to bank a ton of leave, though I doubt I will go that route.  So onward and upward.

PHrugal, didn’t you say you plan on getting married soon?  How much does your girlfriend expect to earn in retirement?  Those IRMAA surtaxes might not be an issue once you are MFJ.

[PhrugalPhan]

Last week I tried to determine how much my pension and social security payments will be when I turn 70.  Then based on the RMD factor tables, I figured how much I could have in my 457 plan as pre-tax before RMDs pushed me into a higher tax bracket than I am today (which also affects IRMAA surtaxes too).  My rough estimate is I am only a few thousand from that amount today.   UH OH!  This means I should be trying to contribute as much as possible as Roth NOW.  I have been ratio-ing my contributions at 90% Roth / 10% traditional since March.  But if I max out 100% Roth I will go into the higher tax bracket next year and maybe even this year.  Something I am going to have to keep on top of from this point forward.

I will try to convert traditional to Roth after I retire, but I won't have a ton of space due to my pension, and since this pre-tax amount should continue to grow its possible I may never be able to get ahead of this tax bomb.  A first world problem I suppose, but one I was hoping to avoid.

PHrugal, didn’t you say you plan on getting married soon?  How much does your girlfriend expect to earn in retirement?  Those IRMAA surtaxes might not be an issue once you are MFJ.

Getting married is a possibility, though definitely going to live together by year end.  But if we do, she has such a high TSP (think 2 commas), and some other IRA savings (and all her TSP is pre-tax), that IRMAA will be MORE of an issue, not less.  Though she has retired this year (also 56+ like me) and we will start her on a path of Roth conversion next year.  Though with her pension taking a lot of tax space I'm not sure how much of her pre tax we can convert over before IRMAA hits for us.

Shorter version: Marrying isn't going to help with IRMAA issues, it may very well make it worse.  - But again, its better than the alternative of not having saved money.

[friedmmj]

Damn straight Phrugal!  If my wife had that kind of bank I’d be retired right now!  You giving any consideration to pulling the chord sooner?