Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Long strange trip to semi-ER in NC
Old 01-07-2011, 03:22 PM   #1
Dryer sheet wannabe
 
Join Date: Jan 2011
Posts: 24
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
kwblack is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-07-2011, 03:33 PM   #2
Gone but not forgotten
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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 .
Moemg is offline   Reply With Quote
Old 01-07-2011, 03:34 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Mar 2004
Posts: 3,431
Welcome, Kathryn! Hopefully you'll be enjoying your days in retirement relaxing to make up for all of the 'craziness' you described.

omni
omni550 is offline   Reply With Quote
Old 01-07-2011, 03:44 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 14,328
Welcome. So sorry to hear about your son.
travelover is offline   Reply With Quote
Old 01-07-2011, 04:03 PM   #5
Dryer sheet wannabe
 
Join Date: Jan 2011
Posts: 24
Quote:
Originally Posted by Moemg View Post
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 .
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.
kwblack is offline   Reply With Quote
Old 01-07-2011, 04:48 PM   #6
Full time employment: Posting here.
DRiP Guy's Avatar
 
Join Date: Nov 2006
Posts: 548
Welcome aboard! Thanks for sharing your story. I think you will find a lot to enjoy and ponder here, I know I have!
DRiP Guy is offline   Reply With Quote
Old 01-07-2011, 04:57 PM   #7
Thinks s/he gets paid by the post
walkinwood's Avatar
 
Join Date: Jul 2006
Location: Denver
Posts: 3,506
Welcome to the board. All the best with your retirement - you'll soon be wondering how you had time for work.
walkinwood is offline   Reply With Quote
Old 01-09-2011, 01:07 PM   #8
Full time employment: Posting here.
 
Join Date: Apr 2006
Posts: 969
Quote:
Originally Posted by DRiP Guy View Post
Welcome aboard! Thanks for sharing your story...
+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
CoolChange is offline   Reply With Quote
Old 01-09-2011, 01:41 PM   #9
Moderator Emeritus
Bestwifeever's Avatar
 
Join Date: Sep 2007
Posts: 17,773
"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
Bestwifeever is offline   Reply With Quote
Old 01-09-2011, 02:32 PM   #10
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 3,679
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.
Sue J is offline   Reply With Quote
Old 01-09-2011, 02:44 PM   #11
Dryer sheet wannabe
 
Join Date: Jan 2011
Posts: 24
Quote:
Originally Posted by Sue J View Post
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!
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...
kwblack is offline   Reply With Quote
Old 01-09-2011, 05:11 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
ls99's Avatar
 
Join Date: May 2008
Posts: 6,499
Quote:
Originally Posted by kwblack View Post
I keeping meaning to call and get the latest scoop on interoffice drama, but just haven't found the time...
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.
ls99 is offline   Reply With Quote
Old 01-10-2011, 07:39 AM   #13
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,302
Quote:
Originally Posted by ls99 View Post
Well done.

In 4, soon to be 5 years I still have not gotten around to it.
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.
Walt34 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Strange question to ask........ FinanceDude Other topics 22 05-18-2010 10:37 PM
Strange goins on mickeyd Forum Admin 17 03-28-2010 09:26 AM
If You Want a Really Long Trip grumpy Travel Information 0 09-09-2009 10:08 AM
Semi-retire for a long distance relationship? maddythebeagle Young Dreamers 38 11-22-2008 11:09 AM
Life Is Strange Danny Other topics 43 04-13-2006 12:09 PM

» Quick Links

 
All times are GMT -6. The time now is 04:57 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.