Taking our first steps this month
Well, we’ve done it. We are taking our first steps this month towards retiring.
1 Dh mailed in our last mortgage payment. He overpaid, to ensure it was enough to cover the payoff (we know we’ll be sent a small check for the overage)
2 Dh also decided on a date...retiring right after Independence Day 2019. He’ll basically take off most of June and retire July 8th (if he doesn’t change his mind, LOL).
3 We (hopefully, LOL) made the last college tuition payment. Youngest ds is supposed to graduate this May. (If anyone is so inclined, prayers are welcomed….college has not gone the way for him as it did our other two!)
4 I submitted my papers to begin the STRS Reduced Workload Program (AKA, “Willie Brown”). This is a program which allows certificated staff to reduce their contract as a transition to retirement. I am starting with just a 10% reduction, so instead of working a 188 day contract, I’ll work 170 days. There are two big advantages to this over just working part time. One is you pay for medical benefits as a full time employee (and from what I can tell, our benefits are very good). The second is you accumulate credit towards your pension as if you were working full time (both myself and the school district pay as if I was full time). Of course, your pay is the percentage you work, as is the sick days you are given.
I have a great job and my contract hours are 8:10-2:50. I have a very atypical job in education, as most of my work is done within the school day. Very little take home, generally very low stress and very fulfilling. My boss approved me utilizing the 18 days I will get whenever I want, rather than on a set schedule. My commute is maybe 10 minutes in high traffic (we live 4 lights down the street from my office!).
I know most people here are every much about not working ASAP, but I am just not ready for that. I can reduce down as low as a 50% contract, with the same parameters above. I just have to commit to a certain percentage each year.
We’ve been talking and thinking about things for a number of years, I just can't believe this whole new period in our lives is beginning.
I glady read and consider any advice anyone wants to share!