Marie
Dryer sheet wannabe
- Joined
- Jul 10, 2010
- Messages
- 19
I'm a single female, no debt (house is paid off), earning about $85K/year from my occupation, have worked for same company for 27 years, have a pension plan grandfathered in (would get ~1200-1400 per month), and a 401K which did take a hit along with everyone else's, plus other savings which are being managed by a good financial advisor (total taxable earnings approx 100K/year between this and the salary). I put 15% salary into my 401K which has a 5% company-match, and save approximately another 3-5% on my own, depending on the year.
My plan is to build a house on property I own in Massachusetts (I am currently in Connecticut), sell this one (paying off any debts when I sell) and retire there. I would be interested in taking up part time work-from-home skills to supplement my savings and pension.
I've several questions that I'm loathe to ask at work (there have been a few too many layoffs...).
Medical: At the moment, my retiree medical health plan benefits would be cut in approximately half should I retire in 2011. Are there viable ways of making up the shortfall?
Also, just recently I heard (second or third hand) about a co-worker about my age who left the company a year or two ago. She was eligible for early retirement but elected not to take it; the rationale I heard is that she can wait until she is in her sixties to file for retirement and get a better pension. Is this true? Can one leave employment but elect not to take the retirement package and defer this for later, to get better bennies and live on external savings until that time? If true, how would this affect medical?
Thanks. I'm sure I'll have more questions as I settle in here.
My plan is to build a house on property I own in Massachusetts (I am currently in Connecticut), sell this one (paying off any debts when I sell) and retire there. I would be interested in taking up part time work-from-home skills to supplement my savings and pension.
I've several questions that I'm loathe to ask at work (there have been a few too many layoffs...).
Medical: At the moment, my retiree medical health plan benefits would be cut in approximately half should I retire in 2011. Are there viable ways of making up the shortfall?
Also, just recently I heard (second or third hand) about a co-worker about my age who left the company a year or two ago. She was eligible for early retirement but elected not to take it; the rationale I heard is that she can wait until she is in her sixties to file for retirement and get a better pension. Is this true? Can one leave employment but elect not to take the retirement package and defer this for later, to get better bennies and live on external savings until that time? If true, how would this affect medical?
Thanks. I'm sure I'll have more questions as I settle in here.