2008 will start my retirement

nascar · 08-11-2007, 09:06 PM

Hello,
I am going to be let go (retired) after December 31st of this year. The community bank that I have worked at for 33 1/2 years has now been sold and the department I work in, plus several other departments, will be dissolved.

I was not planning on retiring quite this soon, I had hoped to wait until I was at least 59 1/2, but I will get through this. My husband wants to retire in January 2008.

I came across this website and really appreciate the thoughts and suggestions that I see from so many people.

Hopefully we wiill be able to make the money we have in my 401K, my Employee Stock Ownership Plan, my husband's 457B and and several $ worth of I-Bonds, etc. work for us to provide a decent retirement. My husband is confident, but I am scared to stick my foot in the water.

**Martha** · 08-11-2007, 10:55 PM

Welcome Reeder. Between you and your husband I trust you will find a balance. Amazing that you worked in one bank for 33+ years. Many bankers that I know float from bank to bank.

SteveR · 08-12-2007, 09:07 PM

Welcome to the board. Forced retirement is no fun but many here have done so and have made it work. Run the numbers and make sure you know your real expenses. If you have enough to make it then don't worry. If not, then consider cutting expenses first and finding another job as a last resort.

Good luck and welcome to the board.

CourtneyC · 08-22-2007, 12:27 AM

Don't be scared. As a backup plan, maybe you could help your husband start a small business on the side that could earn some extra money and not be all-consuming, like a tax preparation service or financial consulting for other small businesses. I am sure if you think about it for a while there are tons of possibilities. Just because you and your husband are retiring, it doesn't mean that you have to stop earning income.

chinaco · 08-22-2007, 02:16 AM

Welcome nascar. You wound up at the right place. Plenty of people to compare note with.

Readytogo · 05-01-2008, 03:35 PM

From Canada !! We want to keep our house but rent for 3 months a year in different places (Texas, Arkansas anywhere with no snow). I'm having trouble searching this out on the internet though. Anybody know of any good sites I'm missing?

08-11-2007, 09:06 PM	#1
nascar Confused about dryer sheets Join Date: Jul 2007 Posts: 2	2008 will start my retirement Hello, I am going to be let go (retired) after December 31st of this year. The community bank that I have worked at for 33 1/2 years has now been sold and the department I work in, plus several other departments, will be dissolved. I was not planning on retiring quite this soon, I had hoped to wait until I was at least 59 1/2, but I will get through this. My husband wants to retire in January 2008. I came across this website and really appreciate the thoughts and suggestions that I see from so many people. Hopefully we wiill be able to make the money we have in my 401K, my Employee Stock Ownership Plan, my husband's 457B and and several $ worth of I-Bonds, etc. work for us to provide a decent retirement. My husband is confident, but I am scared to stick my foot in the water.

08-11-2007, 10:55 PM	#2
Martha Moderator Join Date: Feb 2004 Location: minnesota Posts: 9,789	Welcome Reeder. Between you and your husband I trust you will find a balance. Amazing that you worked in one bank for 33+ years. Many bankers that I know float from bank to bank. __________________ . Do not rely on the information provided--my posts are not to be taken as legal advice. Needless to say you must consult with your legal representative. I am not responsible for errors. If I offended you with cya I apologize. If I did not, I tried.

08-12-2007, 09:07 PM	#3
SteveR Moderator Emeritus Join Date: Jul 2005 Posts: 2,675	Welcome to the board. Forced retirement is no fun but many here have done so and have made it work. Run the numbers and make sure you know your real expenses. If you have enough to make it then don't worry. If not, then consider cutting expenses first and finding another job as a last resort. Good luck and welcome to the board. __________________ Work? I don't have time to work....I'm retired.

08-22-2007, 12:27 AM	#4
CourtneyC Dryer sheet aficionado Join Date: Aug 2007 Location: san francisco Posts: 46	Don't be scared. As a backup plan, maybe you could help your husband start a small business on the side that could earn some extra money and not be all-consuming, like a tax preparation service or financial consulting for other small businesses. I am sure if you think about it for a while there are tons of possibilities. Just because you and your husband are retiring, it doesn't mean that you have to stop earning income. __________________ afteriretire.com

08-22-2007, 02:16 AM	#5
chinaco Thinks s/he gets paid by the post Join Date: Feb 2007 Posts: 2,837	Welcome nascar. You wound up at the right place. Plenty of people to compare note with. __________________ Disclaimer: I make no warranty or guarantee about the accuracy or completeness of this information. I am not a financial planner, my comments only represent my opinion.

05-01-2008, 03:35 PM	#6
Readytogo Confused about dryer sheets Join Date: May 2008 Posts: 2	From Canada !! We want to keep our house but rent for 3 months a year in different places (Texas, Arkansas anywhere with no snow). I'm having trouble searching this out on the internet though. Anybody know of any good sites I'm missing? Last edited by Readytogo; 05-01-2008 at 03:36 PM. Reason: I have a fever, I couldn't believe my spelling !!!

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