Retiring early w/ pension to save my sanity!

[drumgal]

Are you certain that the health plan is an HDHP that qualifies for an HSA? A qualifying HDHP has to have a minimium of $1300 deductible for an individual.

https://en.wikipedia.org/wiki/High-deductible_health_plan

Yes. It's a $2500 deductible, but the $2000 in the HRA can be applied towards that. Any unused portion rolls over the next year. I should have said "HRA" not HSA...sorry!

 

[ER-Troy]

I would retire also if in your position (hard to put a price on peace of mind). I'm sure you can find ways to make "side-gig" money if you need to supplement your pension. I say RETIRE and don't look back! - fellow musician

 

[ER-Troy]

I would retire also if in your position (hard to put a price on peace of mind). I'm sure you can find ways to make "side-gig" money if you need to supplement your pension. I say RETIRE and don't look back! - fellow musician

I also retired from a County job at age 42. (3.5 years ago with absolutely no regrets!)

 

[drumgal]

I also retired from a County job at age 42. (3.5 years ago with absolutely no regrets!)

Nice to hear this from someone else...I am determined to make this work! Sounds like you're doing great and I find that inspiring! Thank you!

 

[dixonge]

we're retiring from semi-sorta County jobs. I'm in I.T. and the wife was a court reporter. She made twice what I made and had a longer track record. Still, we only worked a small amount of time compared to SO MANY OTHER employees we know. 35-year service awards are NOT uncommon in county and district jobs. So we're vested and are retiring just as soon as we meet the age/service cutoffs. It's not a ton of money, but we're going to live cheaply overseas so we will actually *save* a ton of money and build our nest egg investable money *after* retirement. Kinda backwards, but generous pensions with insane matching can do that to you...

 

[Yarnstormer]

Man! None of my local counties have pensions! I think there used to be a pension plan where I was working but the 60something that had been there for 40+ years in the office next to me said they did away with it years ago.
2-3% raises at best. We had drastic "Pto" cuts, no such thing as a retirement package. If you save tons of pto and roll it into the "catastrophic" plan you can only get paid for 1/2 when you leave the other half has to go into an hsa.
I think you can buy insurance at full price after 15 years!
Really no better than other employers. Worse in terms of pay. Kind of sad because it's a great area with lots of growth.
Steady at least. Gotta really screw up to get fired.

 

[Teacher Terry]

WE also have small pensions of 20k/each because I had 15 years in and my DH had 11 (he made a lot more $). However, I am really grateful for them. Many people started young and had 30 years. They got 75% of their pay. Also the more years you have in the cheaper your health insurance is.