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  • Originally posted by Rmodel1965 View Post
    I went ahead and did 10% tsp I was at 5 so now with my 10 and the govt 5% I'm putting 15% away every check
    Quick quote from a finance site I've read before.

    "Save 10% for BASICS, 15% for COMFORT, 20% to ESCAPE. This rule of thumb works pretty well if you start to save for retirement by your early 30s. Saving at least 10% of your income ensures you won’t be eating pet food. Fifteen percent should get you a more comfortable living, while 20% gives you a shot at an early retirement (and yes, you get to count employer contributions as part of your percentage). Wait just a decade to start, though, and you’ll need 15% for basics and 20% for comfort; an early retirement may not be in the cards."

    http://www.wellheeledblog.com/2011/1...or-retirement/

    Comment


    • Originally posted by Fillup87 View Post
      Quick quote from a finance site I've read before.

      "Save 10% for BASICS, 15% for COMFORT, 20% to ESCAPE. This rule of thumb works pretty well if you start to save for retirement by your early 30s. Saving at least 10% of your income ensures you won’t be eating pet food. Fifteen percent should get you a more comfortable living, while 20% gives you a shot at an early retirement (and yes, you get to count employer contributions as part of your percentage). Wait just a decade to start, though, and you’ll need 15% for basics and 20% for comfort; an early retirement may not be in the cards."

      http://www.wellheeledblog.com/2011/1...or-retirement/
      Just be careful your % doesn't go over the allowed contributions. I believe there is still a cap (use to be but they have raised it some) that you can not exceed as far as on the GOV side.

      Comment


      • Originally posted by in625shooter View Post
        Just be careful your % doesn't go over the allowed contributions. I believe there is still a cap (use to be but they have raised it some) that you can not exceed as far as on the GOV side.
        It's like $18,000 and 99% of C/Os will never get near it.

        Comment


        • Originally posted by fed2015 View Post
          It's like $18,000 and 99% of C/Os will never get near it.
          Sure you cans usually stay within that amount as a GS 5 or 6 or whatever with base pay but get a few promotions and you can find yourswlf over if you are a shrewd money miser.
          But most new staff (in my observation) use the raise from where they came from for that club cab 4X4 truck or Harley.

          My point (and i am just throwing it out there because i have seen the finanically responsible hire in and be smart with itvas well) but, If your joint has a steady diet of OT you can easily have the 20% move you past the cut off.
          My last year as a GS 8 I made $110,000 with O/T shift did Sunday pay and portal where ch would have put me o er if I put in 15%.
          And you'd be surprised how many at joints with steady O/T do make upwards of $100,000 a year.

          The good thing is our contributions are not taxed but you still have yo watch what your doing.
          Last edited by in625shooter; 02-15-2016, 08:45 AM.

          Comment


          • Originally posted by in625shooter View Post
            Sure you cans usually stay within that amount as a GS 5 or 6 or whatever with base pay but get a few promotions and you can find yourswlf over if you are a shrewd money miser.
            But most new staff (in my observation) use the raise from where they came from for that club cab 4X4 truck or Harley.

            My point (and i am just throwing it out there because i have seen the finanically responsible hire in and be smart with itvas well) but, If your joint has a steady diet of OT you can easily have the 20% move you past the cut off.
            My last year as a GS 8 I made $110,000 with O/T shift did Sunday pay and portal where ch would have put me o er if I put in 15%.
            And you'd be surprised how many at joints with steady O/T do make upwards of $100,000 a year.

            The good thing is our contributions are not taxed but you still have yo watch what your doing.
            Shooter, what is portal pay? I have heard you mention it a couple of times.

            Comment


            • Originally posted by Fillup87 View Post
              Shooter, what is portal pay? I have heard you mention it a couple of times.
              Not all iknstitutions (actualy most don't) but portal pay is an agreement with said administration that they have so many posts that they pay portal pay, meaining they pay you whatever for you getting to post. (in my case they pay 15 min of O/T a day) it was originally designed years and years ago for miners that had to ride the carts deep into the mine and then do their 8 or whatever hours of shift.

              BOP has used it because with certian posts you are actually at work more than 8 hours and are still responsible for responding/reacting to things. Our agreement was for housing units and a coupel SHU posts that you had to be relieved to leave.

              What happens is the Union of every institution will file every few years and then arbitrate it and then BOP will pay out a big portal check. Since 2000 I recived one in 2005 for 20,000, in 2007 one for 4,000 and they started the portal pay. New Warden came in cancelled it and in 2012 I got another 8,000 and then they put the portal pay in the agreement so no warden can go against it (they can but know better now) so at our place there are no more big payouts just certian posts get it and certian ones don't. Other institutions still do the evry few years payout.

              Is it BS? Sort of but I didn't ask the Union to file on it.

              Comment


              • Originally posted by Fillup87 View Post
                Quick quote from a finance site I've read before.

                "Save 10% for BASICS, 15% for COMFORT, 20% to ESCAPE. This rule of thumb works pretty well if you start to save for retirement by your early 30s. Saving at least 10% of your income ensures you won’t be eating pet food. Fifteen percent should get you a more comfortable living, while 20% gives you a shot at an early retirement (and yes, you get to count employer contributions as part of your percentage). Wait just a decade to start, though, and you’ll need 15% for basics and 20% for comfort; an early retirement may not be in the cards."

                http://www.wellheeledblog.com/2011/1...or-retirement/


                im in my early 30s so hopefully ill be good. im in one of the life cycle plans but im trying to decide if i want to move to one of the more aggressive plans right now..

                Comment


                • Originally posted by in625shooter View Post
                  Sure you cans usually stay within that amount as a GS 5 or 6 or whatever with base pay but get a few promotions and you can find yourswlf over if you are a shrewd money miser.
                  But most new staff (in my observation) use the raise from where they came from for that club cab 4X4 truck or Harley.

                  My point (and i am just throwing it out there because i have seen the finanically responsible hire in and be smart with itvas well) but, If your joint has a steady diet of OT you can easily have the 20% move you past the cut off.
                  My last year as a GS 8 I made $110,000 with O/T shift did Sunday pay and portal where ch would have put me o er if I put in 15%.
                  And you'd be surprised how many at joints with steady O/T do make upwards of $100,000 a year.

                  The good thing is our contributions are not taxed but you still have yo watch what your doing.
                  already have a paid off cruiser and a 4x4 tacoma im about to hit 200k miles on i plan on driving it till the wheels fall off im gonna try and drive it for the next 19 years lol

                  Comment


                  • Originally posted by Rmodel1965 View Post
                    already have a paid off cruiser and a 4x4 tacoma im about to hit 200k miles on i plan on driving it till the wheels fall off im gonna try and drive it for the next 19 years lol
                    You would be surprised how many new (and old) staff love to be married to a car payment. I tell them when they have that 50k plus new truck how do they feel knowing everything they make for the next 18 months goes to that? Love the blank look when they say "never looked at it like that" LOL

                    Comment


                    • Two questions how much is shift diff for us officers? Second question is how are prisons like MDC brooklyn, ottisvile, Danbury as far as transfers, morale, and OT?

                      Comment


                      • Originally posted by P.I.D.I01 View Post
                        Two questions how much is shift diff for us officers? Second question is how are prisons like MDC brooklyn, ottisvile, Danbury as far as transfers, morale, and OT?
                        Shift differential is 10% for hours between 1800 and 0600 and 25% for Sunday. No idea on the other question.

                        Comment


                        • I EOD in two weeks. In my firm offer, it states that I won't receive my first pay check until the middle of May (10 weeks after my first day OTJ). Is this common or probably a typo/error?

                          Comment


                          • Originally posted by JohnnyUtah1989 View Post
                            I EOD in two weeks. In my firm offer, it states that I won't receive my first pay check until the middle of May (10 weeks after my first day OTJ). Is this common or probably a typo/error?
                            Likely a typo. Expect the first check three weeks after start.

                            Comment


                            • Originally posted by fed2015 View Post
                              Likely a typo. Expect the first check three weeks after start.
                              Thanks. Any clue if FLETC is still 5-6 months backed up?

                              Comment


                              • Originally posted by JohnnyUtah1989 View Post
                                Thanks. Any clue if FLETC is still 5-6 months backed up?
                                Don't know if it's FLETC or institutions scheduling people. Most people get to FLETC with around 6 months of service. Some more and some less. I've seen people go around 9 months and around 3 months.

                                Comment

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