What's new
Fantasy Football - Footballguys Forums

Welcome to Our Forums. Once you've registered and logged in, you're primed to talk football, among other topics, with the sharpest and most experienced fantasy players on the internet.

Government employee thread! (Being a government employee is sweet) (1 Viewer)

From the sound of it, I won't know my start date until 14 days or less from the time I start. Going to inform my current job of the situation when I return to work on the 15th. Still looking like end of April and I want at least a week off before going. 

 
flapgreen said:
From the sound of it, I won't know my start date until 14 days or less from the time I start. Going to inform my current job of the situation when I return to work on the 15th. Still looking like end of April and I want at least a week off before going. 
Click to expand...
that seems weird

 
belljr said:
that seems weird
Click to expand...
My buddy who works base in Florida said he got a notification of a start date in 10 days when he was hired but got them to extend it a couple weeks because he was about to board a ship on a cruise. I just can't seem to get a clear picture on how it's going to work once I get the final offer. 

 
From the HR person today:

Hello Mr. ____,

Once you clear all your conditions of employment then I will contact you for a starting date. Once I get your starting date, I will code your action and then I will send you  Official Job Offer thru Onboarding. A week before you start I will send you an email with instructions for in-processing the day you start.  Your physical will clear on the same day you take it. Once you have your fingerprints taken I will submit your PSIP request which you will get 3 emails from them on what to do. Once you complete the SF85 form online and submit it then we will wait for it to clear. Your childcare investigation will probably take up to 4 week to clear (sooner I hope)..

 
flapgreen said:
From the sound of it, I won't know my start date until 14 days or less from the time I start. Going to inform my current job of the situation when I return to work on the 15th. Still looking like end of April and I want at least a week off before going. 
Click to expand...
That basically just means once everything is ready, they'll offer you a start date of the next pay period (most jobs start on day 1 of a new pay period). I'm sure it won't be a problem if you want to give them a later a date (likely 14 days later) so that you can take care of some stuff and take a little time off.

 
Any recommendations on my options at insurance when I get to that point? Buddy said he has the cheaper option GEHA insurance, but I'm leaning more toward the BCBS nationwide option.

 
Last edited by a moderator:
flapgreen said:
Any recommendations on my options at insurance when I get to that point? Buddy said he has the cheaper option GEHA insurance, but I'm leaning more toward the BCBS nationwide option.
Click to expand...
Sorry I'm on my wife's company cause it's dirt cheap in comparison. Everyone I work with does have bcbs that I know of

 
flapgreen said:
Damn. Your wife's insurance is cheaper than federal? I thought it was the best there was. 
Click to expand...
Nope.  That's the big misnomer.  Sure you get to keep it after retirement but as far as cost it's not cheap.  It might be cheap equivalent to other companies but no one has sniffed my wife's cost.  We pay ~ 200 a month with a 4k deductible.  A similar plan was about 350. I won't bore with all the details but it's cheaper 

 
belljr said:
Nope.  That's the big misnomer.  Sure you get to keep it after retirement but as far as cost it's not cheap.  It might be cheap equivalent to other companies but no one has sniffed my wife's cost.  We pay ~ 200 a month with a 4k deductible.  A similar plan was about 350. I won't bore with all the details but it's cheaper 
Click to expand...
Very interesting. Figured it would be dirt cheap. My wife works for the school system and our insurance is good. Hoping it's comparable. 

 
Never saw this thread. I spent 9 months trying to get a job at the local Naval Hospital. Ridiculous process. Got and accepted the job offer. Was just waiting on a start date when after several months I got a phone call out of the blue that said the offer was withdrawn because I didn't pass a screening. Very little explanation, no further questions...for the same RN job I've been doing for multiple years.

Would love the benefits, but the process is beyond painful

 
We signed up for the high deductible GEHA plan so that we can take advantage of the retirement health savings plan that is allowed if you are in a high deductible health plan.  Look into it as it's a really good advantage for putting away savings for health insurance when you are retired.  

 
renesauz said:
Never saw this thread. I spent 9 months trying to get a job at the local Naval Hospital. Ridiculous process. Got and accepted the job offer. Was just waiting on a start date when after several months I got a phone call out of the blue that said the offer was withdrawn because I didn't pass a screening. Very little explanation, no further questions...for the same RN job I've been doing for multiple years.

Would love the benefits, but the process is beyond painful
Click to expand...
They better not try that with me. Only a couple things left to do now and I'm done.  Offered job 2 months ago. Should be close to starting in 2 more

 
Last edited by a moderator:
Done with the physical and fingerprints. Met my future boss and coworkers. I'm older and have been doing it longer than any of them. Lol

Looking at local housing today. Can't believe I'm moving to the middle of nowhere Missouri. At least it's cheap. 

 
flapgreen said:
Done with the physical and fingerprints. Met my future boss and coworkers. I'm older and have been doing it longer than any of them. Lol

Looking at local housing today. Can't believe I'm moving to the middle of nowhere Missouri. At least it's cheap. 
Click to expand...
Yeah, you are literally in the middle of nowhere.

Welcome to Chiefs kingdom.  :banned:

 
Wife got an email from the base today about ideas on helping to transition for the move, whatever that means. But I still haven't gotten anything. 

 
Saw the first 14 level job posted for my field yesterday. Some huge money. Didn't realize they went up that high in my area. 

 
flapgreen said:
Received the oath of office letter today to sign and it brought a tear to my eye reading it. So cool
Click to expand...
I don't know if they do it where your going or covid or what. But you may or may not get sworn in at the end of orientation.  We got a nice picture with the director as we were sworn in

 
I'm about to start hammering retirement for the next 20 years. 3% or whatever they take out for pension. 6% on the 401k match. Then another 6% to ROTH for the next 20 years. Still leaves us 85% of my income to live on. Selling our house and just keeping that money in the bank until we settle down and buy a home somewhere. No debt

 
flapgreen said:
I'm about to start hammering retirement for the next 20 years. 3% or whatever they take out for pension. 6% on the 401k match. Then another 6% to ROTH for the next 20 years. Still leaves us 85% of my income to live on. Selling our house and just keeping that money in the bank until we settle down and buy a home somewhere. No debt
Click to expand...
I would probably max out on the TSP before doing a ROTH.  You can do up to $19,500, and once you turn 50 an additional $6500.  The TSP has some solid investing options and super low fees.  And contributions and earnings are all tax deferred, so no taxes at all until you withdraw.  

 
jon_mx said:
I would probably max out on the TSP before doing a ROTH.  You can do up to $19,500, and once you turn 50 an additional $6500.  The TSP has some solid investing options and super low fees.  And contributions and earnings are all tax deferred, so no taxes at all until you withdraw.  
Click to expand...
Tsp has Roth option 

Also you get the match on if it's the typical 401k contribution or a Roth contribution.  So for example let's say you did all Roth tsp contributions you'll still get the 3 to 5%, match  whatever it is in the traditional contribution

 
Last edited by a moderator:
jon_mx said:
But why pay taxes now when you are making more money and probably a higher tax bracket than when you are retired.  Plus you have all that extra non-taxed money to grow.  
Click to expand...
I can't speak for his financial situation but when I switched over I had a ton of traditional money so I switched to Roth so that way you have different buckets when you retired based off the tax rate 

I just advised to have different money so you can withdraw based off  tax rates during retirement 

:shrug:

I have both

 
Last edited by a moderator:
jon_mx said:
I would probably max out on the TSP before doing a ROTH.  You can do up to $19,500, and once you turn 50 an additional $6500.  The TSP has some solid investing options and super low fees.  And contributions and earnings are all tax deferred, so no taxes at all until you withdraw.  
Click to expand...
Alright. I'll look into this further. Guessing I'm going to need some type of advisor to help me through this. 

 
belljr said:
I can't speak for his financial situation but when I switched over I had a ton of traditional money so I switched to Roth so that way you have different buckets when you retired based off the tax rate 

I just advised to have different money so you can withdraw based off  tax rates during retirement 

:shrug:

I have both
Click to expand...
I'm not really private about my money. We have no debt, except for our house, and about 130 equity in our home. Retirement has been minimal up until this point due to paying off school loans and raising the family. Probably only 30 or so in retirement at 43 years old. Not a great start but we're pouring a ton in over the next 20 years.  I'll start out making 93 as a government employee. Max out at current level around 100. Figure I'll move up to a 13 at some point and max around 125 or 130. There are a few GS 14 level positions with my job but I have no desire to move to that level. 

 
Last edited by a moderator:
Just to give you an idea of the difference in investing tax free money vs. Taxed.  If your wife has any earnings at all, you will be solidly in the 22% tax bracket in the current year.  Let's assume about an 8 percent return investing somewhat aggressively in the stock market, which at your age you should be.  

So $20,00 tax free can all be invested now and in 21 years will have about a 500% return, so you will have $120,000 which will be taxed when you withdraw it.  Assume you will be in the next lower tax bracket at 12% and you will pocket $105,600 during your retirement years.  

If you invest after tax dollars like the ROTH, you will only have $15,600 to invest as you sent $4,400 to uncle Sam.   That money will grow tax free and again about a 500% return.  You will have about $93,600 in your account of which $15,600 you can withdraw tax free.  The remaining $78,000 will be taxed at 12% leaving about $68,640.   So in total you will have $84,240 that goes into your pocket during the retirement years.  

So in the end, there is more than a $21,000 benefit for your retirement years to investing pretaxed dollars vs. after taxed dollars. 

 
jon_mx said:
Just to give you an idea of the difference in investing tax free money vs. Taxed.  If your wife has any earnings at all, you will be solidly in the 22% tax bracket in the current year.  Let's assume about an 8 percent return investing somewhat aggressively in the stock market, which at your age you should be.  

So $20,00 tax free can all be invested now and in 21 years will have about a 500% return, so you will have $120,000 which will be taxed when you withdraw it.  Assume you will be in the next lower tax bracket at 12% and you will pocket $105,600 during your retirement years.  

If you invest after tax dollars like the ROTH, you will only have $15,600 to invest as you sent $4,400 to uncle Sam.   That money will grow tax free and again about a 500% return.  You will have about $93,600 in your account of which $15,600 you can withdraw tax free.  The remaining $78,000 will be taxed at 12% leaving about $68,640.   So in total you will have $84,240 that goes into your pocket during the retirement years.  

So in the end, there is more than a $21,000 benefit for your retirement years to investing pretaxed dollars vs. after taxed dollars. 
Click to expand...
Great stuff. Very helpful, bro. 

 
That's very doable. If I contribute to max to my TSP each year and retire at 65, which is 22 years, we should be in good shape, along with the pension. 

 
jon_mx said:
Just to give you an idea of the difference in investing tax free money vs. Taxed.  If your wife has any earnings at all, you will be solidly in the 22% tax bracket in the current year.  Let's assume about an 8 percent return investing somewhat aggressively in the stock market, which at your age you should be.  

So $20,00 tax free can all be invested now and in 21 years will have about a 500% return, so you will have $120,000 which will be taxed when you withdraw it.  Assume you will be in the next lower tax bracket at 12% and you will pocket $105,600 during your retirement years.  

If you invest after tax dollars like the ROTH, you will only have $15,600 to invest as you sent $4,400 to uncle Sam.   That money will grow tax free and again about a 500% return.  You will have about $93,600 in your account of which $15,600 you can withdraw tax free.  The remaining $78,000 will be taxed at 12% leaving about $68,640.   So in total you will have $84,240 that goes into your pocket during the retirement years.  

So in the end, there is more than a $21,000 benefit for your retirement years to investing pretaxed dollars vs. after taxed dollars. 
Click to expand...
He wouldn't owe taxes on the gains in the Roth, that's kind of the whole point. Plus these calculations assume you're putting less into the Roth (or extra into a taxable account after the traditional), which in theory makes some sense but in practice very often isn't the case.

 
jon_mx said:
Just to give you an idea of the difference in investing tax free money vs. Taxed.  If your wife has any earnings at all, you will be solidly in the 22% tax bracket in the current year.  Let's assume about an 8 percent return investing somewhat aggressively in the stock market, which at your age you should be.  

So $20,00 tax free can all be invested now and in 21 years will have about a 500% return, so you will have $120,000 which will be taxed when you withdraw it.  Assume you will be in the next lower tax bracket at 12% and you will pocket $105,600 during your retirement years.  

If you invest after tax dollars like the ROTH, you will only have $15,600 to invest as you sent $4,400 to uncle Sam.   That money will grow tax free and again about a 500% return.  You will have about $93,600 in your account of which $15,600 you can withdraw tax free.  The remaining $78,000 will be taxed at 12% leaving about $68,640.   So in total you will have $84,240 that goes into your pocket during the retirement years.  

So in the end, there is more than a $21,000 benefit for your retirement years to investing pretaxed dollars vs. after taxed dollars. 
Click to expand...
Roth earnings won't be taxed 

Eta oops already covered

 
Last edited by a moderator:
You must log in or register to reply here.

Similar threads

FatMax
Firing an employee. It sucks. Can anyone relate?
2 3
Replies
114
Views
2K
Judge Smails
Judge Smails
DJackson10
Work won’t allow me back after being injured because of limitations on a separate issue they had no issue with previously when doing this job
Replies
29
Views
1K
DJackson10
DJackson10
Courtjester
Board Games--I know there is another thread but I can't find it
Replies
18
Views
467
Wildcat
Wildcat

Users who are viewing this thread

Total: 2 (members: 0, guests: 2)
Top