Ep.177: Allison wants to retire early, but got a late start on serious retirement savings.

Meet Allison.

Allison’s main concerns, in her own words: I am a single Federal Government employee who would like to retire at 62. I currently make just over $100,000, but I live in the high cost of living area of the greater Washington DC area. I got a late start on serious retirement savings and now have a balance of approx. $270,0000. This is the first year I will max out my Roth TSP. Right now I am on track to having a pension from FERS between $27,000-$35,000 per year in retirement.

My biggest concerns are can I afford to retire at 62 without Social Security and have the lifestyle that will potentially allow me to travel for several years minimum? What about long term care? I am single and will most likely need assistance at some time in the future as I age.

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