Hello everyone I just found this site and am excited to be here. I am 54 years old and I really want to retire but just can't put a finger on the date. I have worked in the public sector for the past 31 years. 6 years ago I entered the deferred retirement option plan (DROP) and must leave no later that July of 2017. The thought of staying until 2017 is unbearable.
My wife is 48 years old and a nurse for the local school district and earns $82,000. she plans on working until 55. she has a state pension and her own 403b plan.
if I retire my pension is $60,000 with a 3%COLA. I have a 457 (ICMA-RC) plan with $410,000.00 and is in a managed portfolio
Stable Value/Cash Management 20.5%
Bond 46.0%
Balanced/Asset Allocation 5.9%
U.S. Stock 18.2%
International/Global Stock 6.5%
Guaranteed Lifetime Income 2.9
My DROP account is approximately $446,000.00 and each month approximately $6,750.00 is added to the DROP account, that includes interest. The interest is based upon the 10 year treasury note. Upon retirement I will roll the DROP money into the 457 plan to get a better return. All money is available at retirement regardless of my age.
my payout when i retire will be approximately $60,000 which I will roll $36,000 into my 457 plan.
I have 2 kids one a senior in high school with no plans for college and the other a senior in college. we have no debt except for a mortgage of $196,000 at 3.875%
we have $80,000 in cash for emergencies or whatever.
I have analyzed it to death i am caught in that trap where I keep saying if I just stay one more month I will get more money.
can't wait to read all of the forums and tap into the wealth of knowledge that is on this site. thanks.
My wife is 48 years old and a nurse for the local school district and earns $82,000. she plans on working until 55. she has a state pension and her own 403b plan.
if I retire my pension is $60,000 with a 3%COLA. I have a 457 (ICMA-RC) plan with $410,000.00 and is in a managed portfolio
Stable Value/Cash Management 20.5%
Bond 46.0%
Balanced/Asset Allocation 5.9%
U.S. Stock 18.2%
International/Global Stock 6.5%
Guaranteed Lifetime Income 2.9
My DROP account is approximately $446,000.00 and each month approximately $6,750.00 is added to the DROP account, that includes interest. The interest is based upon the 10 year treasury note. Upon retirement I will roll the DROP money into the 457 plan to get a better return. All money is available at retirement regardless of my age.
my payout when i retire will be approximately $60,000 which I will roll $36,000 into my 457 plan.
I have 2 kids one a senior in high school with no plans for college and the other a senior in college. we have no debt except for a mortgage of $196,000 at 3.875%
we have $80,000 in cash for emergencies or whatever.
I have analyzed it to death i am caught in that trap where I keep saying if I just stay one more month I will get more money.
can't wait to read all of the forums and tap into the wealth of knowledge that is on this site. thanks.
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