How do I estimate my FERS retirement?

FERS (Immediate or Early) FERS annuities are based on high-3 average pay. Generally, the benefit is calculated as 1 percent of high-3 average pay multiplied by years of creditable service. For those retiring at age 62 or later with at least 20 years of service, a factor of 1.1 percent is used rather than 1 percent.

How much did air traffic controllers make in 2000?

Air traffic controllers were paid $79,460 in 2000. That was $47,980 less than in 2020. Their wage growth was $2,284 per year from 2000 through 2020 and $1,450 per year from 2015 through 2020.

What’s the average retirement age?

If you’re just curious about the average age people retire, the answer is simple: 62. We get why you’d want to know what age most people retire. You can use that as a benchmark and work backwards to figure out how much time you have left to work and save until you can think about retiring.

What is the most popular age to retire?

Why is ATC the most stressful job?

Being an air traffic controller can be stressful due to the heavy workload and high-consequence environment, however, the job can also be dull and boring depending on how busy the skies are.

How can our retirement calculator help you?

Our Retirement Calculator can help by considering inflation in several calculations. Please visit the Inflation Calculator for more information about inflation or to do calculations involving inflation. People in the U.S. generally rely on the following sources for financial support after retirement.

Can I use the retirement calculator in chronological order?

Each calculation can be used individually for quick and simple calculations, or in chronological order as a more comprehensive walkthrough of retirement planning. How much do you need to retire?

How much should you have saved for retirement at 25?

This rule suggests that a person save 10% to 15% of their pretax income per year during their working years. For instance, a person who makes $50,000 a year would put away anywhere from $5,000 to $7,500 for that year. Roughly speaking, by saving 10% starting at age 25, a $1 million nest egg by the time of retirement is very possible.

What is the 80% rule for retirement savings?

80% Rule. Another popular rule suggests that a person saving 80% of their pre-retirement income for each year of retirement will provide them with a standard of living in retirement that is similar to their standard of living before retirement.