sweetvirginia
Confused about dryer sheets
Hi. I'm happy to have found this group. I am in need of inspiration and maybe a little “you can do it!” style encouragement.
I am 52 year-old librarian in California. My dream is to retire when I’m 57, which may not seem early at all, but would be a freaking miracle for me because it is a lot more pleasurable for me to conserve resources than to spend them. I blame my depression-era grandparents and father for this fiscally conservative mindset. Also, I have a really fun, fulfilling job, and only work 7 months a year when you figure in summer and winter breaks. But I love to adventure with my husband and he just retired and I feel like the world is beckoning a lot more urgently than it was when he was working.
I know very little about the nuts and bolts of investing. I mean, I DO it, because my grandparents told me to do it and keep doing it, but I don't "play the market" or anything. I do diligently contribute to my 403(b), and will occasionally buy some stocks if I've accumulated a lot of cash. I'm very old school and accumulate cash. It drives my husband nuts because money in my savings account (or under my mattress!) isn't “working for me,” but I like to have cash on hand.
Here are some details. Not trying to bore anyone to death, but the helpful welcome email recommended I provide as many details as I feel comfortable with to give people more to work with. I obliged in full!
I have worked in the California community college system since 1999, so I have a STRS retirement that I can tap into once I hit 55.
I am on the "2% at 60" plan and will be 60 in 2028, so it’s better if I wait until end of fall semester 2028 in that regard.
I will have 30 years under my belt effective July 31, 2029, so retiring on or after July 31, 2029 is even better. This had been my plan all along.
I have over one year in sick pay, and I know that figures in there somewhere.
My newly retired husband has no post-retirement health care but is covered under my policy until I retire or he hits 65 and can collect old man insurance. I’ll be 57 when he hits 65 and feel like this is the earliest I should retire. I will get health benefits from the college until I, too, hit 65 and get some old lady insurance. So, December 2025, age….57.
I am taking a sabbatical next year to do a “retirement dry run” (living abroad on reduced income) and will then be obliged to stay two more years after my return to fulfill my obligations. Which, weirdly, also nudges me toward December 2025, age 57. So some stars seem to be aligning for 57, but my skinflint mind keeps getting in the way.
I make around $110K base salary every year for my contract days. I have always worked some in early summer to make a little travel money, but now that my husband is retired I likely won’t be doing that because we can finally start our summer travel in May. Traveling is very much our thing.
My investments:
Current total: $464K
$334K of this is my 403(b) plan.
$60K are in two, small inherited IRAs.
$30K is invested in various mutual and index funds I have purchased.
$40K is languishing in money market account. I'll probably be spending it on investment property soon.
Asset mix (minus my 403(b) plan) is thus:
29.7% Stocks
39.6% Bonds
30.7% Short-term reserves
I keep 10K minimum in my bricks and mortar savings at all times. When it gets bigger I do stuff like buy some stocks or pay a chunk on my home principal or once I bought a house in PA with my husband. Right now I am using “extra” to reroof and update one of my rental properties to bring it up to market value.
I owe $140K on my primary residence (Zillow estimate $439K). My interest rate isn't that low (4.1%) but I HATE mortgage fees and refinancing a house makes me almost as anxious as buying a car. Like I just stepped into Glengarry Glen Ross. I do pay $200 extra to principle every month. Last year I also paid an extra $10K on principal. My balance was high after a poorly planned addition and divorce in 2005. Lol. My current plan is to rent it when I retire and use the proceeds to fund my retirement.
I own another home outright (Zillow estimate $384K). I've been renting it out since 2005. This is the one I’m remodeling because my long-term tenant finally moved out. I am using a special cash savings account I’ve created and contributed to for this purpose, so will have no debt when it is complete. I would like to keep renting it and use the income to fund retirement.
I own half a house outright with my husband in Pittsburgh, PA (Zillow estimate $125K). We rent it out. Right now we just shove all profits into a savings account. Use it for occasional repairs and to pay taxes, but it’s growing steadily and we should probably do something better than letting it sit in the credit union.
I have another year to pay on my 2018 Prius (no interest) and that will likely be my last car. I drove my last Prius for 12 years. I drove it until I had to duct tape it together and then I gave it to my kid (it's still going, duct tape and all) and bought a prettier one that didn't require tape. All of this is to say, I’m not a person who has to have a new car to feel pretty.
Credit cards are paid off in full every month. I use them for EVERYTHING to rack up points for random hotel stays and the occasional gift card. Because, yes, points are another thing I like to save up. lol.
My husband and I have separate money. We split living expenses, buy our own stuff with our own money, and I'd say we are about equal in assets. He’s technically richer than I am, but I have a much nicer ex who kept his hands off my retirement. This is all to say he doesn’t cost me anything, and I don’t cost him anything. Lol. We have invested in one home together, and are looking to do another in the near future.
I have one child. I have paid for her college (she's in grad school right now) and I'd like to leave her a house. My dad paid for my college and left me a house and both of these gifts have provided me lots of options in life. I feel compelled to do the same, not only for my daughter but to honor my dad.
I am excited to be a part of this group. Like I said, although I ALWAYS appreciate advice, it’s the inspiration I think I need most. Wish I was just a tiny bit less risk-adverse.
Cheers!
I am 52 year-old librarian in California. My dream is to retire when I’m 57, which may not seem early at all, but would be a freaking miracle for me because it is a lot more pleasurable for me to conserve resources than to spend them. I blame my depression-era grandparents and father for this fiscally conservative mindset. Also, I have a really fun, fulfilling job, and only work 7 months a year when you figure in summer and winter breaks. But I love to adventure with my husband and he just retired and I feel like the world is beckoning a lot more urgently than it was when he was working.
I know very little about the nuts and bolts of investing. I mean, I DO it, because my grandparents told me to do it and keep doing it, but I don't "play the market" or anything. I do diligently contribute to my 403(b), and will occasionally buy some stocks if I've accumulated a lot of cash. I'm very old school and accumulate cash. It drives my husband nuts because money in my savings account (or under my mattress!) isn't “working for me,” but I like to have cash on hand.
Here are some details. Not trying to bore anyone to death, but the helpful welcome email recommended I provide as many details as I feel comfortable with to give people more to work with. I obliged in full!
I have worked in the California community college system since 1999, so I have a STRS retirement that I can tap into once I hit 55.
I am on the "2% at 60" plan and will be 60 in 2028, so it’s better if I wait until end of fall semester 2028 in that regard.
I will have 30 years under my belt effective July 31, 2029, so retiring on or after July 31, 2029 is even better. This had been my plan all along.
I have over one year in sick pay, and I know that figures in there somewhere.
My newly retired husband has no post-retirement health care but is covered under my policy until I retire or he hits 65 and can collect old man insurance. I’ll be 57 when he hits 65 and feel like this is the earliest I should retire. I will get health benefits from the college until I, too, hit 65 and get some old lady insurance. So, December 2025, age….57.
I am taking a sabbatical next year to do a “retirement dry run” (living abroad on reduced income) and will then be obliged to stay two more years after my return to fulfill my obligations. Which, weirdly, also nudges me toward December 2025, age 57. So some stars seem to be aligning for 57, but my skinflint mind keeps getting in the way.
I make around $110K base salary every year for my contract days. I have always worked some in early summer to make a little travel money, but now that my husband is retired I likely won’t be doing that because we can finally start our summer travel in May. Traveling is very much our thing.
My investments:
Current total: $464K
$334K of this is my 403(b) plan.
$60K are in two, small inherited IRAs.
$30K is invested in various mutual and index funds I have purchased.
$40K is languishing in money market account. I'll probably be spending it on investment property soon.
Asset mix (minus my 403(b) plan) is thus:
29.7% Stocks
39.6% Bonds
30.7% Short-term reserves
I keep 10K minimum in my bricks and mortar savings at all times. When it gets bigger I do stuff like buy some stocks or pay a chunk on my home principal or once I bought a house in PA with my husband. Right now I am using “extra” to reroof and update one of my rental properties to bring it up to market value.
I owe $140K on my primary residence (Zillow estimate $439K). My interest rate isn't that low (4.1%) but I HATE mortgage fees and refinancing a house makes me almost as anxious as buying a car. Like I just stepped into Glengarry Glen Ross. I do pay $200 extra to principle every month. Last year I also paid an extra $10K on principal. My balance was high after a poorly planned addition and divorce in 2005. Lol. My current plan is to rent it when I retire and use the proceeds to fund my retirement.
I own another home outright (Zillow estimate $384K). I've been renting it out since 2005. This is the one I’m remodeling because my long-term tenant finally moved out. I am using a special cash savings account I’ve created and contributed to for this purpose, so will have no debt when it is complete. I would like to keep renting it and use the income to fund retirement.
I own half a house outright with my husband in Pittsburgh, PA (Zillow estimate $125K). We rent it out. Right now we just shove all profits into a savings account. Use it for occasional repairs and to pay taxes, but it’s growing steadily and we should probably do something better than letting it sit in the credit union.
I have another year to pay on my 2018 Prius (no interest) and that will likely be my last car. I drove my last Prius for 12 years. I drove it until I had to duct tape it together and then I gave it to my kid (it's still going, duct tape and all) and bought a prettier one that didn't require tape. All of this is to say, I’m not a person who has to have a new car to feel pretty.
Credit cards are paid off in full every month. I use them for EVERYTHING to rack up points for random hotel stays and the occasional gift card. Because, yes, points are another thing I like to save up. lol.
My husband and I have separate money. We split living expenses, buy our own stuff with our own money, and I'd say we are about equal in assets. He’s technically richer than I am, but I have a much nicer ex who kept his hands off my retirement. This is all to say he doesn’t cost me anything, and I don’t cost him anything. Lol. We have invested in one home together, and are looking to do another in the near future.
I have one child. I have paid for her college (she's in grad school right now) and I'd like to leave her a house. My dad paid for my college and left me a house and both of these gifts have provided me lots of options in life. I feel compelled to do the same, not only for my daughter but to honor my dad.
I am excited to be a part of this group. Like I said, although I ALWAYS appreciate advice, it’s the inspiration I think I need most. Wish I was just a tiny bit less risk-adverse.
Cheers!