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Long strange trip to semi-ER in NC
01-07-2011, 03:22 PM
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#1
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Dryer sheet wannabe
Join Date: Jan 2011
Posts: 24
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Long strange trip to semi-ER in NC
I'm Kathryn, last of a soon-to-be-extinct breed: the local government employee eligible for full retirement with 30 years service.
I'm 54, as I hung in there 2 extra years. Starting July 2011, nobody can retire unless they're 55, regardless of # of years. DH is 59, could retire but loves his job most days, and it's a few minutes from the house. I'm giving up a grueling 2 hour commute to a workplace that is getting crazier by the day.
My numbers probably won't mean much...we don't have a huge FIRE account; we have 401Ks that are under $100K each, but no need to withdraw from them. An investment account with a couple of American funds, about $116K. $32K in regular savings. After Federal taxes come out, I'm getting $3050 a month, with SSA leveling. My health insurance is $590 a month-cheaper than going on DH's ins. DH grosses $92K a year. His retirement income would be about $5000 a month.
We owe $106k on our house, $10K on an equity loan, $10K on a car loan. We owe another $60K on a house we're planning to sell to a family member. No kids to support.
People have asked on another forum where the heck our money goes (I was grossing $55k until...um...last week). I spent 3.5 years getting a MA in social work so I could do temp and consulting work after ER. That was paid as I went.
Our oldest son died 2 years ago from lung transplant rejection-a lot of our disposable income went towards traveling to be with him, helping support him, wedding and funeral. He had cystic fibrosis and wasn't able to work the last few years of his life. We still saved and paid into our pension, but we put a lot of $$ into all of us enjoying his life. There's more minutia, but our income and expenses have been screwy over the years because life has been kind of screwy. I picked my retirement time to be now because the pension wasn't going to change much with another year or two work, plus the stress was increasingly crazy-making.
So...I'm trying to figure out what happens next, getting my house up to snuff, getting healthy (proper food, gym, walking), and going from a people-intense day to "me and the dog" days here in the rural foothills of NC, not a neighbor in sight. My main money concern is paying for the needed maintenance we've put off (like the $3000 tree removal estimate we got today).
That's my story in a big nutshell. I've enjoyed what I've sampled here so far and look forward to reading more.
K
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01-07-2011, 03:33 PM
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#2
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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Welcome ! I also lost a son so I know what you went through . Does your or your husbands pension have survivor benefits ? That will be really important when you have a smaller nest egg .
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01-07-2011, 03:34 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Mar 2004
Posts: 3,431
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Welcome, Kathryn! Hopefully you'll be enjoying your days in retirement relaxing to make up for all of the 'craziness' you described.
omni
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01-07-2011, 03:44 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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Welcome. So sorry to hear about your son.
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01-07-2011, 04:03 PM
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#5
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Dryer sheet wannabe
Join Date: Jan 2011
Posts: 24
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Quote:
Originally Posted by Moemg
Welcome ! I also lost a son so I know what you went through . Does your or your husbands pension have survivor benefits ? That will be really important when you have a smaller nest egg .
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My pension choice gives him $1200 a month if I die. His pension and SSA will be about 2x what mine is, so that should give him a monthly income of $7k a month. He hasn't picked an option yet, but it will probably be a split that will be less per month at retirement (about $3500 or more) but that amount will be my survivor benefit.
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01-07-2011, 04:48 PM
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#6
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Full time employment: Posting here.
Join Date: Nov 2006
Posts: 548
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Welcome aboard! Thanks for sharing your story. I think you will find a lot to enjoy and ponder here, I know I have!
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01-07-2011, 04:57 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Location: Denver
Posts: 3,506
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Welcome to the board. All the best with your retirement - you'll soon be wondering how you had time for work.
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01-09-2011, 01:07 PM
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#8
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Full time employment: Posting here.
Join Date: Apr 2006
Posts: 969
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Quote:
Originally Posted by DRiP Guy
Welcome aboard! Thanks for sharing your story...
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+1
__________________
If there's one thing in my life that's missing; It's the time I spend alone
Sailing on the cool and bright clear waters; There's lots of those friendly people
Showin me ways to go; And I never want to lose your inspiration
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01-09-2011, 01:41 PM
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#9
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,773
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"Me and the dog" in the foothills of NC--how idyllic that sounds, KW. Welcome to the boards and to the beginning of lots of me and the dog days.
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
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01-09-2011, 02:32 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 3,679
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Welcome.
My husband retired from a county job with 26 years. He would have gone to 30 if they would have kept him. His pension is a bit smaller than yours but it's all worked out well for us as our living expenses are low with no debt.
That 2 hour commute must have been awful, I hope you enjoy all those extra hours of FREEDOM! My DH was in social services so I thought he'd miss all the people interaction but it turns out he likes all the time with just me and the cat just fine.
Enjoy your new life!
__________________
Married, both 69. DH retired June, 2010. I have a pleasant little part time job.
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01-09-2011, 02:44 PM
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#11
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Dryer sheet wannabe
Join Date: Jan 2011
Posts: 24
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Quote:
Originally Posted by Sue J
Welcome.
My husband retired from a county job with 26 years. He would have gone to 30 if they would have kept him. His pension is a bit smaller than yours but it's all worked out well for us as our living expenses are low with no debt.
That 2 hour commute must have been awful, I hope you enjoy all those extra hours of FREEDOM! My DH was in social services so I thought he'd miss all the people interaction but it turns out he likes all the time with just me and the cat just fine.
Enjoy your new life!
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Maybe we hit our lifetime quota of personal interaction
I keeping meaning to call and get the latest scoop on interoffice drama, but just haven't found the time...
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01-09-2011, 05:11 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 6,499
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Quote:
Originally Posted by kwblack
I keeping meaning to call and get the latest scoop on interoffice drama, but just haven't found the time...
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Well done.
In 4, soon to be 5 years I still have not gotten around to it.
__________________
There must be moderation in everything, including moderation.
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01-10-2011, 07:39 AM
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#13
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,302
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Quote:
Originally Posted by ls99
Well done.
In 4, soon to be 5 years I still have not gotten around to it.
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Come July it'll be 9 years (Wow!) and I still haven't.
Welcome to the forum!
__________________
When I was a kid I wanted to be older. This is not what I expected.
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