El Sargento
Dryer sheet wannabe
- Joined
- Apr 17, 2011
- Messages
- 12
I’m 38 years old and can retire and start collecting a pension in 8 years. I’m currently a Police Sergeant in the suburbs just north of NYC. I earn about $120,000 annually including overtime. I’m not a big overtime guy. On average we see about a 3% raise in pay each year. Unfortunately I only just began seriously thinking about retirement. I have about $50,000 in a mix of stocks, deferred comp, money market, reits, and cash. I live in a Co-op apartment that will be paid of by the end of the year. The apartment is valued at $85,000. I’m single and I have a son in college (yes I was young). He attended a private college for the first year and a half at a cost of $25K plus a year, he is now back at home going to a community college at a cost of $2,500 a semester.
I’ve spent the last couple of years learning to live below my means. At the present time my reoccurring monthly expenses, Co-op common charges, electricity, cell phone, DSL, and cable average about $850.00 a month. My net take home after pretax deferrals is about $4000. I have no debt other than my mortgage and one credit card that I pay in full every month if I use it. My car has been paid of for about two years however I will be purchasing a new (used) car by years end. Probably a Honda Civic and I plan to put down a large down payment and have it paid off in less than 2 years.
I’m not looking to escape from my career, I have a good position that allows me to divide my time between patrol and desk duty. I’m generally a house mouse during the winter months and on the road when the temperature breaks 50 degrees. There are days when I derive satisfaction from my job and days when it down right sucks. However I am always thankful to have a job that pays so well in these tough times. During the past 12 years I’ve earned an Associates and a Bachelors degree and I’m currently working on a Masters. The job has paid a portion of my education expenses.
So why am I looking to leave this job
First off policing truly is a young man's game. I don’t want to chase or fight anyone anymore. Secondly I just wnt to try something different. Thats the beauty of a pension after 20 years. You get a second chance so to speak. The pension is not enough to live on forever. However it's enough that you can do something you like for less money because you have the pension to supplement your income.
A dream I've had for some time is to live in the Dominican Republic. I’ve been there 4 or 5 times and always had a good time. I really enjoy the culture, the food and weather. My former supervisor retired and moved there with his wife who is Dominican and is really enjoying his life raising a family there. I’ve visited and stayed with them several times. I’ve had very candid conversations with the both of them about the true cost of living there and the lifestyle. I believe I could live there comfortably on less than my anticipated pension. I’m also not under any illusions that it’s all paradise. I know of the difficulties of getting things done and the inconvinces of Caribbean living. I also speak spanish and with his wifes help I should be able to find housing at less than "Gringo" prices.
My plan is to complete my Masters Degrees (2 of them) and secure a position as an online professor and use that income to support myself while living in DR. So long as I’m able to get reliable internet service I will be OK. My buddy took a job teaching at a Bilingual school there out of boredom and is now the Administrative Director of the school!
If after 3 months I don't like it I'll go explore some place else. Then after a year or so maybe I'll return to the States (some place warm) and find a job that I enjoy.
I’ve spent the last couple of years learning to live below my means. At the present time my reoccurring monthly expenses, Co-op common charges, electricity, cell phone, DSL, and cable average about $850.00 a month. My net take home after pretax deferrals is about $4000. I have no debt other than my mortgage and one credit card that I pay in full every month if I use it. My car has been paid of for about two years however I will be purchasing a new (used) car by years end. Probably a Honda Civic and I plan to put down a large down payment and have it paid off in less than 2 years.
I’m not looking to escape from my career, I have a good position that allows me to divide my time between patrol and desk duty. I’m generally a house mouse during the winter months and on the road when the temperature breaks 50 degrees. There are days when I derive satisfaction from my job and days when it down right sucks. However I am always thankful to have a job that pays so well in these tough times. During the past 12 years I’ve earned an Associates and a Bachelors degree and I’m currently working on a Masters. The job has paid a portion of my education expenses.
So why am I looking to leave this job
First off policing truly is a young man's game. I don’t want to chase or fight anyone anymore. Secondly I just wnt to try something different. Thats the beauty of a pension after 20 years. You get a second chance so to speak. The pension is not enough to live on forever. However it's enough that you can do something you like for less money because you have the pension to supplement your income. A dream I've had for some time is to live in the Dominican Republic. I’ve been there 4 or 5 times and always had a good time. I really enjoy the culture, the food and weather. My former supervisor retired and moved there with his wife who is Dominican and is really enjoying his life raising a family there. I’ve visited and stayed with them several times. I’ve had very candid conversations with the both of them about the true cost of living there and the lifestyle. I believe I could live there comfortably on less than my anticipated pension. I’m also not under any illusions that it’s all paradise. I know of the difficulties of getting things done and the inconvinces of Caribbean living. I also speak spanish and with his wifes help I should be able to find housing at less than "Gringo" prices.
My plan is to complete my Masters Degrees (2 of them) and secure a position as an online professor and use that income to support myself while living in DR. So long as I’m able to get reliable internet service I will be OK. My buddy took a job teaching at a Bilingual school there out of boredom and is now the Administrative Director of the school!
If after 3 months I don't like it I'll go explore some place else. Then after a year or so maybe I'll return to the States (some place warm) and find a job that I enjoy.
