Planning For My Retirement

Summary: It is never too early to plan for one's retirement. I am about two years away from and here is my strategy.

I am eligible to retire from my current job on April 4, 2010. And that is the day that life without work begins. My retirement will be different than most in that my monthly take home will increase over the years. This is due to a government pension, military retirement and social security. When I hit 57 years and 4 months, I will be able to call it quits. I will have 5 years working with the US government and will be eligible for a small pension. It will not be enough to live on, but I also have a Thrift Savings Plan (TSP) which is very similar to a 401(k). Unlike the 401(k), I can withdraw my TSP when I retire as long as I am at least 55 years old. I will use this to supplement the small pension. I also have a 401(k) that I invested in while I was a government contractor for 5 years. I can start making withdrawals at 59