Hi all-
I wrote you all a couple months ago. I am a 58 yo teacher currently in Asia. I am having tremendous difficulty "embracing" my decision to quit teaching full time. I have already signed a contract for one more school year (2005-06), but I am debating about whether I should shoot for one more after that!!!! I have this part of me that is greedy and wants to accumulate more funds, and therefore, a more comfortable retirement. However, I am at a point where the stress of long days, the stress of dealing with "spoiled" kids that somehow expect their success in school to be the teacher's responsibility, and the stress of putting up with the banter and politics inherent in any organization is overwhelming me. Having a mind-set where I fully embrace ONE MORE YEAR as my last is what I am desiring. Have any of you had the same doubting experiences as I have?
The pension plan I am with (TIAA-CREF) allows its members to live off the annuity interest after the age of 55. I am 58 That interest income for me would be about $29,800/year in August 2006. I can opt to use my full pension plan anytime I want, but the longer I wait, the more I get. If I received my full pension in August 2006, I'd get $46,700 per year, but that amount would increase 3% a year. If I waited until August 2007, I'd start at $50,000/year, increasing 3% a year.
I would love to take up Tai Chi, or meditation or some form of relaxation exercise. I'd love to choose certain times of the day to tutor science or teach English as a Seconds Language here. I'd love to wake up later and enjoy the mornings instead of worrying about getting to school early. However, I am worried about money, about being comfortable. I have no kids and no wife.
If any of you tell me I'm being absolutely ridiculous and should embrace retirement in a year, GREAT. I need some advice, since I hesitate to let this indecisiveness show at my school. I am at wits end. If I embraced a decision, the next year would go by better. My fear, though, is if the next year goes by better, then i'll want to stay one more year. I go around and around thinking like this. Help!!!!!
Rob
I wrote you all a couple months ago. I am a 58 yo teacher currently in Asia. I am having tremendous difficulty "embracing" my decision to quit teaching full time. I have already signed a contract for one more school year (2005-06), but I am debating about whether I should shoot for one more after that!!!! I have this part of me that is greedy and wants to accumulate more funds, and therefore, a more comfortable retirement. However, I am at a point where the stress of long days, the stress of dealing with "spoiled" kids that somehow expect their success in school to be the teacher's responsibility, and the stress of putting up with the banter and politics inherent in any organization is overwhelming me. Having a mind-set where I fully embrace ONE MORE YEAR as my last is what I am desiring. Have any of you had the same doubting experiences as I have?
The pension plan I am with (TIAA-CREF) allows its members to live off the annuity interest after the age of 55. I am 58 That interest income for me would be about $29,800/year in August 2006. I can opt to use my full pension plan anytime I want, but the longer I wait, the more I get. If I received my full pension in August 2006, I'd get $46,700 per year, but that amount would increase 3% a year. If I waited until August 2007, I'd start at $50,000/year, increasing 3% a year.
I would love to take up Tai Chi, or meditation or some form of relaxation exercise. I'd love to choose certain times of the day to tutor science or teach English as a Seconds Language here. I'd love to wake up later and enjoy the mornings instead of worrying about getting to school early. However, I am worried about money, about being comfortable. I have no kids and no wife.
If any of you tell me I'm being absolutely ridiculous and should embrace retirement in a year, GREAT. I need some advice, since I hesitate to let this indecisiveness show at my school. I am at wits end. If I embraced a decision, the next year would go by better. My fear, though, is if the next year goes by better, then i'll want to stay one more year. I go around and around thinking like this. Help!!!!!
Rob