this is an older post form last year about this time. As I head into the final quarter of earnings, I always panic I am not doing enough to secure my retirement.
Sam, Coffee, Money, & Thyme: Should Women Stay in the Work Force Longer?: There have been a slew of retirements at work announced. My HR consultant retires after today and her colleague in December. Our Building Su...
Wednesday, September 18, 2019
5 comments:
Join the conversation. Your comments are welcome. Dissenting and different opinions are welcome as makes for good conversation. I moderate comments to be sure I read them all and stay ahead of the spam. Advertising products or services without permission will be deleted, as will anything that may be harmful to others-read promotion of debunked "experts" and conspiracies. If you're a blogger, feel free to include your blog URL.
Subscribe to:
Post Comments (Atom)
I sent my babies to daycare at 8 weeks old so I didn't really miss much work and am glad about that as I have a tidy and growing nest egg in my 401(k) and am a year short of being eligible for a fairly generous pension and retiree medical that will cover me and the hubby until Medicare kicks in and after that it will then supplement Medicare. It was a sacrifice but I'll be in decent shape if I have to go at 55 (I work for a large company who would love to get rid of us higher paid older folks). And if I don't go at 55 that means extra gravy. Ideally I'd love to work up until I turn 60-62 but in this day and age I've been told we should all be prepared to retire at 55, so I am doing my best to be able to make that happen if need be.
ReplyDeleteYours - DeeCeeDee
It's the darn medical costs that will keep me working longer than I might like. I can retire in 6 years with some in my pension (I started working here only five years ago and had no pension at previous job), and a sizeable Roth and 401K, but if I have to buy health insurance, it will suck so much out. I am aiming for retiring at 63. DH will have medicare by then, so it would just be for myself and supplemental for him.
DeleteI had no choice but to go back to work when my kids were born, although I would have given my right arm to be able to stay at home with them. I made more than my ex and I had the expat benefits. But that being said, given that my husband left me when I was 51 I was SO glad I had a good job and with a pension. I retired at 60 last year and could have stayed on, making damn good money, until I was 65 but the 3-4 hour commute nearly killed me, so even though I took a drastic cut in pension I don't regret leaving at 60 at all. And of course I'm lucky in that I have excellent permanent health insurance very cheaply (around $180/month) through my former employer. I know that's an issue for many in the States. I think this was absolutely the right decision for me, all the more so since my contemporaries seem to be dropping like flies at the moment. I mean, who the heck wants to work their entire lives and then possibly get sick and/or die within a few years of retirement. It is something to think about!
ReplyDelete60 would be awesome, but I think 63 is most likely my time. I'll get 14 years of pension accumulation, plus DH will have made it to the public health care for retirees, medicare, by then. I just need to take better care of us both so we enjoy life when the time comes to not be working.
DeleteMy solution to the cost of medical insurance was to begin a career in federal service at an age some would consider early retirement. (Remember that age doesn't matter to the feds!) IF one's age + a minimum of 5 years continuous service and continuous federal employee medical insurance = a magic number, one is eligible to retire with a modest fixed pension, income from a TSP account (stocks & bonds with matching contributions) and continued coverage with the Federal Employee Health Program. I worked with many older women who did this to secure coverage for an ailing spouse and/or grandchildren for whom they were guardians. Start the job search at usajobs.gov.
ReplyDelete