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purplesagerider 05-22-2010 07:02 PM

Hi Lots of questions....
Long time lurker.....
I am 52 and considering lots of options. I have a spouse who is almost vested in a state pension plan--2 more years-- and 3 kids. I am still working (!!) but could change this anytime but am concerned about long term consequences.
I have saved enough to retire but am ambivalent about continuing to work due to various issues.
I am looking forward to your input. I .have to decide between defined benefit and defined contribution plan in 10 days.

Gumby 05-22-2010 08:23 PM

Welcome aboard. Any connection to Zane Grey?

purplesagerider 05-23-2010 10:00 AM

Just read many of his books as a child and hope to retire in Wyoming. I grew up in the west but am now located in the midwest.
My dilemma in a nutshell is that I have 5 years in a state plan and have to choose by 6/1 if I want the DB or DC or combined plan. In order to have health care you have to get to 15 yrs in the DB and I expect to retire in 2-3 yrs. My DH will have enough years in a DB (30 yrs) in 2 more years when he is planning to retire to have health care coverage for both of us so I think I should take either the DC or the combined option.
A little more info--my son is 21 and will finish college 6/11 and my middle DD will probably graduate in 2-3 years. Our youngest DD is starting high school next year. We may keep working until she is a junior just because she likes her school and is doing well here.
I have been working full time for a number of reasons but am considering cutting back to part time. I have never worked less than full time so that would be a big change but probably a good step towards early retirement!

Free To Canoe 05-24-2010 08:23 PM

Welcome Purplesage,

Sounds like you have a few decisions lumped together. Maybe your DWs decision and yours are two separate issues. Probably both need to be retired before you move - a later decision. One thing at a time.
I hope this helps.
Free to canoe

Walt34 05-25-2010 08:04 AM


Originally Posted by Free To Canoe (Post 939931)
Probably both need to be retired before you move - a later decision. One thing at a time.

I'd agree on that. When I retired in July 2002 we were moved in to the new house by the middle of September, a very hectic period of time. In hindsight perhaps that was too many changes in too short a time.

However, six months later family and friends said we both looked more relaxed than they'd seen us in years. Most of that was from not having to deal with the insane Washington, DC area traffic, which is perhaps not a factor where you live.

If the DB pension includes cost-of-living raises that can be worth a lot 5, 10, 20 years from now. I think we're in for another round of inflation equal to or exceeding that of the late 70's/early 80's because of the deficit spending. But my opinion is worth what you paid for it.

purplesagerider 05-26-2010 05:38 PM

Thanks to all.
Good point about inflation as the DB is cola'd. I am leaning towards the DB right now.
I may have to move to get my DH to retire! He will probably continue to w*** as long as I am here. He is very devoted to his patients. If we have a second home he may consider retiring and doing medical missions part time. I may be kidding myself but retiring may be in his best interest as well as mine. He works way too much IMO.
It is a good point not to do too many changes all at once but some change is probably in order. I read about all the activities people here are doing and I know my quality of life would improve if I had more free time for other interests.

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