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Gearhead Jim says Hello
Old 01-26-2006, 04:11 PM   #1
Full time employment: Posting here.
Join Date: Aug 2005
Location: Far NW 'burbs of Chicago
Posts: 874
Gearhead Jim says Hello

Hello, folks have suggested that we introduce ourselves here, so...

I'm 60, DW is 58.* Forced retirement from airline job at 60 (FAA rule).* Lost a lot of my fixed pension when company went bankrupt but furtunate to have a big defined contribution plan that was not effected.* We will have less money than expected but still enough.* Very importantly, we retired with no debt or big expenses: house & cars paid for, kids out of college, no credit card debt.* First marriage for both of us, that also helps.* Biggest fixed expense will be property tax, fortunately our house is exceptionally cheap to heat/cool due to extra money spent when building 25 years ago.* Maintanance is beginning to go up due to age-* new roof last year, new septic tank this year, etc.* We like to travel a lot, that can get expensive!

In addition to the airline job, I also worked part time for a small police department, when I left the airline they promoted me to Chief.* Not a big salary but it still helps, and keeps me too busy to spend money elsewhere.* Will probably retire from that in a year or so with a very small additional pension.

We live in the distant 'burbs of a large midwest city. I'd love to move to Arizona but the kids live within an hour's drive, no grandkids yet but some day...

Thanks for all the info we have already received here.

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Re: Gearhead Jim says Hello
Old 01-26-2006, 07:11 PM   #2
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Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
Re: Gearhead Jim says Hello

Welcome Gearhead Jim!!

(Jim... What a great name...) :

Good luck with your plan; maybe someday in the not-to-distant future, you'll be thanking them for "forcing" you to retire.
Have Funds, Will Retire

...not doing anything of true substance...
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