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Old 04-14-2017, 10:43 AM   #1
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After just a cursory glance at the forum, I knew I had to make it home. Currently a State of California employee working for the AG. I am taking an early retirement at 15 years and departing Ca. for either Nevada or Wyoming. I cannot do it in CA any longer. So, in 5 years my wife and I are gone. She will have 31 years with CALPERS, and I 15 years.

We are lacking in our 401K's, but contribute 500 per month pretax.

So, I am just here to read and learn all I can, especially from those that are members of CALPERS and how they made it all work.

Thank you all.
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Old 04-14-2017, 10:56 AM   #2
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Old 04-14-2017, 11:58 AM   #3
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Originally Posted by Expatmedic View Post
After just a cursory glance at the forum, I knew I had to make it home. Currently a State of California employee working for the AG. I am taking an early retirement at 15 years and departing Ca. for either Nevada or Wyoming. I cannot do it in CA any longer. So, in 5 years my wife and I are gone. She will have 31 years with CALPERS, and I 15 years.

We are lacking in our 401K's, but contribute 500 per month pretax.

So, I am just here to read and learn all I can, especially from those that are members of CALPERS and how they made it all work.

Thank you all.
I'm right with ya. I am leaving the NC State Govt. in one year and two workdays. Accrued leave will take me out with 14 1/4 years. My wife and I have been putting 2k each per month into our 401k's over the last 9 years. Once I leave the State, I need to cover 30 months of expenses + healthcare under my wife's plan. I'm fortunate that the 30 months will only cost me around 60k and I'm planning to work seasonally or similar until the pension kicks in.

Thus, it's doable.

Once you move, are planning to work part-time? Are you selling a house ? A lot of factors to look at when making the transition.

Michael
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Old 04-14-2017, 01:24 PM   #4
Confused about dryer sheets
 
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I'm right with ya. I am leaving the NC State Govt. in one year and two workdays. Accrued leave will take me out with 14 1/4 years. My wife and I have been putting 2k each per month into our 401k's over the last 9 years. Once I leave the State, I need to cover 30 months of expenses + healthcare under my wife's plan. I'm fortunate that the 30 months will only cost me around 60k and I'm planning to work seasonally or similar until the pension kicks in.

Thus, it's doable.

Once you move, are planning to work part-time? Are you selling a house ? A lot of factors to look at when making the transition.

Michael
Hi, thanks for the reply.

I might pick up some kind of PT job. Selling a house and should be able to pay off about 75%, and would like to rebuy with the money from the old house and maybe have small mortgage.

We have a defined pension with CALPERS and will have about 5000 net dollars per month. At age 62 we are drawing SS and will add another 3,500 per month. We will also have a bit per month from 401K's and I only want to draw about 300 per month.

At least that is my outline.
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Old 04-14-2017, 02:43 PM   #5
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Welcome to the forum!

Your plan sounds doable all right. In case you haven't seen it yet, here is a list of questions that you will want to have solid answers for: Some Important Questions to Answer Before Asking - Can I Retire?
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Old 04-14-2017, 02:49 PM   #6
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Welcome aboard Expatmedic
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Old 04-14-2017, 03:10 PM   #7
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Welcome Expatmedic, are you leaving Cali because of high CoL?
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Old 04-14-2017, 03:28 PM   #8
Confused about dryer sheets
 
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Yes sir, I must retrograde post haste. I just cannot be in a state with major ideological differences. That and I just do not want to afford this state any longer.

I am hoping my plan is doable. We are researching and so far it's NV or WY.
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Old 04-14-2017, 04:58 PM   #9
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We live in Northern Nevada and love it. It has a mild 4 seasons and lots to do. Property taxes are very low. On our house that is valued at 300k we pay 700/year. It has to do with the age of the home here and ours was built in 1950 although it has been completely redone. Add to that no state income tax.
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