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31 and changing jobs with 3 kids on the way
Old 01-05-2013, 01:08 PM   #1
Confused about dryer sheets
Join Date: Jan 2013
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31 and changing jobs with 3 kids on the way

Hi there all,

So glad to be apart of a community where I can find all kinds of helpful information and just general common sense stuff.

How about a little about me. First, I am 31 yoa, male, married for 3 years and have triplets on the way. I do have a college degree, however, my occupation (police officer) does not require it, and basically does nothing for me at the moment. Due to having three kids on the way me and my wife are moving closer to her family for the help and of course due to moving, I am having to find a new job. The wife is an occupational therapist but due to kids she has cut back on work and will not likely work full time for a few years.

Currently my retirement situation is as such:

Where I work the retirement multiplier is 3.3% which means at 30 years I can retire at 100% of my high 3. there are no cola increases after retirement.

I only have about $5,500 in deferred comp.

Me and my wife both have a Roth IRA and her retirement through her job is a Simple IRA with a 3% match from her employer.

No house note now or after the move.

My car is paid for but we will HAVE to purchase a van due to kids.

We have about 4k in credit card debt and about 2k left of student loans.

All in all I dont think that is too bad, it needs a lot of work, but I really just really started thinking about this stuff about 1 year ago ( i was not taught early enough).

That is about all I can think to say at the moment, I do have questions but I think I will leave that to another thread.
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Old 01-05-2013, 01:16 PM   #2
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Welcome to the forum. And thank you for your service.
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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Old 01-05-2013, 01:52 PM   #3
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Again, whoa, triplets! Congrats and hope all is well with their mother-to-be.
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
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Old 01-05-2013, 02:42 PM   #4
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Welcome! With triplets coming, health insurance should be a priority for the Cowens family. Good luck!
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Old 01-05-2013, 04:35 PM   #5
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Triplets sounds like a fantastic adventure. Enjoy!

If you find a new job, don't your old multiplier and credits go away?
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Old 01-05-2013, 06:03 PM   #6
Confused about dryer sheets
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Originally Posted by growing_older View Post
If you find a new job, don't your old multiplier and credits go away?
I actually covered this topic on a post I made under "young dreamers".. All my time toward retirement and the money I put there will follow me if I take a job I the same field (city police officer). Most cities all fall under the same retirement system state wide so it transfers. If I chose to go into something else and didnt like it, even after a few years I could go back to policing with all my time still there as long as I didn't pull it out of the system.
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