johnnyfuego
Recycles dryer sheets
Hello all, this forum has been very informative and a good way to be retired vicariously through all the fire'd folks that fill the pages. After 27 great years with the Austin Fire Department at age 52, I'm hoping to leave the firehouse one last time in early 2015, but could chuck it to em today if I need/want to. It's just that there is a bit of a financial carrot dangling in front of me. A bit more money in my DROP (deferred retirement option program) account and if I wait til after Dec. 31st, I can take an additional 35k catch up plan from my 'drag up money' (vac/sick leave) to put in my deferred comp account. The drop program is very handy in that I can take a lump sum of up to 7 years and have my monthly annuity adjusted accordingly.
On the financial side, AFD has a great retirement plan (Austin Firefighters relief and retirement fund). I am feeling a lot more comfy after consulting with 3 different financial advisors and hiring one of them. I used a fee only advisor whom I felt was most in touch with my financial situation. After showing her a few of my scenarios with the DROP account, I was very surprised when she showed how, because of my other accounts/assets, (Ed Jones, TD Ameritrade, Money Market, etc) I would be just fine with only a two year drop, thereby raising my monthly annuity. I will leave that money in the fund since it is paying at a nice guaranteed 5% rate. She feels, especially since my little abode on the river is paid for, and I am thankfully debt free, that I am diversified well, though I might dial it back a little to some more conservative allocations in the future. Age appropriate ratios of course.
On the emotional side, I'm not quite as comfy, but still feeling pretty good. Just normal jitters about a big life change. I will decompress for a while and enjoy not ever having my sleep interrupted by the tones going off and jumping on the truck again! I'm a bit introverted, but thankfully not one to get bored easily, which seems to suit a lot of people here. However I have lots of stuff planned to do at my leisure and pace. Lots of interests and since I like to road travel so much, I may even try doing the U-Ship thing for a while, since it would be pretty much on my terms on when and where to haul/deliver goods with my truck and trailer.
Before I hired on with the AFD, I was a brakeman/conductor with the Missouri-Kansas-Texas railroad for about 7 years. The being on call 24/7/365 wasn't much fun, but I really enjoyed riding those trains. Must have stemmed from when my Dad took me on an Amtrak trip when I was a kid. That being said, I'm thinking of giving myself a nice leisurely trip on a sleeper car around the country by Amtrak as an atta boy for a job well done in the fire service.
Sorry for the rambling, but glad to be on board with ya'll, pun intended...
On the financial side, AFD has a great retirement plan (Austin Firefighters relief and retirement fund). I am feeling a lot more comfy after consulting with 3 different financial advisors and hiring one of them. I used a fee only advisor whom I felt was most in touch with my financial situation. After showing her a few of my scenarios with the DROP account, I was very surprised when she showed how, because of my other accounts/assets, (Ed Jones, TD Ameritrade, Money Market, etc) I would be just fine with only a two year drop, thereby raising my monthly annuity. I will leave that money in the fund since it is paying at a nice guaranteed 5% rate. She feels, especially since my little abode on the river is paid for, and I am thankfully debt free, that I am diversified well, though I might dial it back a little to some more conservative allocations in the future. Age appropriate ratios of course.
On the emotional side, I'm not quite as comfy, but still feeling pretty good. Just normal jitters about a big life change. I will decompress for a while and enjoy not ever having my sleep interrupted by the tones going off and jumping on the truck again! I'm a bit introverted, but thankfully not one to get bored easily, which seems to suit a lot of people here. However I have lots of stuff planned to do at my leisure and pace. Lots of interests and since I like to road travel so much, I may even try doing the U-Ship thing for a while, since it would be pretty much on my terms on when and where to haul/deliver goods with my truck and trailer.
Before I hired on with the AFD, I was a brakeman/conductor with the Missouri-Kansas-Texas railroad for about 7 years. The being on call 24/7/365 wasn't much fun, but I really enjoyed riding those trains. Must have stemmed from when my Dad took me on an Amtrak trip when I was a kid. That being said, I'm thinking of giving myself a nice leisurely trip on a sleeper car around the country by Amtrak as an atta boy for a job well done in the fire service.
Sorry for the rambling, but glad to be on board with ya'll, pun intended...
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