hey folks

[thomhall]

I've been reading this forum as a lurker for quite some time, and am very impressed by the wisdom of many of you. I'm trying to work up the guts to quit my job within the year. Way too much backbiting, and a very unpleasant atmosphere. I'm 50, university administrator, and am ready to get outta there! I have about 1.7M in a Merrill Lynch account (invested very conservatively--and I like the my financial guy a lot), 270K in a TIAA-CREF account, and enough years in the state teachers' retirement program to guarantee me about 25K beginning at 62. No debts aside from 80K in mortgage, no big ticket expenses other than maybe 12K per year in travel. (I know, that's a lot) Current salary about 75K.

I've got a lot of interests, so retirement will be busy, but I hate walking away from my salary and that university health insurance!

 

[dumpster56]

I am also 50 and gonna walk away from my teaching job in an american inner city, Newark, NJ.

we sold the house and moved to a small town in North Carolina.

I have 4 months starting tuesday to finish my contract then I am taking my early state retirement, I get health care for my wife and self for life, makes a big difference.

I have some trepidation leaving a very good paying teaching position, BUT the house sold this past spring and we moved 500 miles away from the area. My decision is made.

You must weigh all aspects of the move, but I am starting to believe in what many here on the forum think, life is short to deal with BS and if it works financially well, Just Do IT!

 

[Donzo]

With the pension, 1.7m ,little debt.. and back biting....survey says...jump! You are set as long as you can live comfortably on $68,000 per year(not counting future pension). Time to start enjoying your life. It is easy to get caught up in the one more year issues that can become several years. Go after the interests that move you.....not others.

Just how conservative is your portfolio?

 

[thomhall]

Just how conservative is your portfolio?

My portfolio is about 44 % equities, 48 % fixed income, 8 % other (commodities and currency hedge funds).

My broker has done OK in lackluster markets, and even in bad or flat years (which seem to be the new norm)  he's managed to keep things even or at a minimal loss or gain.  He's the first broker I've ever had who has understood that I don't want to lose this money.   I've found that a lot of brokers don't listen when you tell them that, and assume that you're chasing a 20% return.

I've stared at these numbers over and over and done firecalc multiple times----I just need to figure out how to give myself a good swift kick to get me moving.  That's where this board comes in handy.

 

[Nords]

I've stared at these numbers over and over and done firecalc multiple times----I just need to figure out how to give myself a good swift kick to get me moving.  That's where this board comes in handy.

Welcome to the board, Thom, it sounds like you're in good shape.

How will you handle health insurance?

 

[thomhall]

How will you handle health insurance?

There's the problem!  I just started reading about this in the last few days.   I'm not sure if I'm going to qualify for an individual plan due to pre-existings...and darn it looks expensive.  I've noticed that there are a lot of very well-informed individuals on this issue in other threads, so I will continue to explore my options.    I could live with 10k per year in premiums, but I'm not sure that this would be enough...

I'd qualify under my current employers' plan if I retire at 25 years---unfortunately, I only have 19...

 

[Martha]

There's the problem! I just started reading about this in the last few days. I'm not sure if I'm going to qualify for an individual plan due to pre-existings...and darn it looks expensive. I've noticed that there are a lot of very well-informed individuals on this issue in other threads, so I will continue to explore my options. I could live with 10k per year in premiums, but I'm not sure that this would be enough...

I'd qualify under my current employers' plan if I retire at 25 years---unfortunately, I only have 19...

Have you looked at Georgetown Universities health insurance guide for your state at www.healthinsuranceinfo.net? Good information there on most states. If you share what state you plan to retire in, we may be able to give you more information as well.

 

[Donzo]

A great place to get an idea of what to expect concerning health insurance cost is -enetinsurance.com. Plug in the info and you will get approximate quotes from several co.

Good luck.