Introduction
Like many of us baby boomers, I'm looking at retirement. I have been for a while.
Ironically, a couple years ago, I had it all figured out. About now, May or June, 2019, I would give my notice, we would fix up and sell the house, and move to either Washington State, or Colorado so my daughter could go to school there with in-state tuition, and my wife and I could get legal pot.
We didn't have a huge 401k or savings account, but my wife had a pension from teaching, and I would be getting social security. We wouldn't be living a luxurious lifestyle, but we would be retired, have a house, our daughter could go to the school she wanted, and there would be enough left for the occasional vacation, trip to see our son (if he didn't move with us), and a trip to the pot shop and all the fishing I could want.
Then, April 2018, it all fell apart. We had gone to Colorado to look at some schools and look at some houses, see if we wanted to live there. While we were there, Kay, my wife died.
There is a reason people tend to die shortly after their spouse (https://en.wikipedia.org/wiki/Widowhood_effect) . It has been unbelievably hard. On top of that, the fine print on her pension bit me. We had checked early on that her pension was transferable, that is, if something happened to her, I would still be able to draw her pension. What we hadn't realized is that when she had to take an early retirement , and then died before full retirement age, I would be getting a very reduced pension, about half of what she had been. This more than ate up what ever cushion might have existed in our retirement.
While I might have been able to retire at 64 (my age at the expected retirement date) the money would have been tight enough I would be within an unexpected home repair or car breakdown, of it all falling apart. Besides loosing my wife, I lost my hopes of leaving a job I have grown to hate.
The thing is, all of us have 2 choices eventually. We either die while working, or we retire, even if it's not voluntary. While my job as a chemist isn't terribly physical, I do need to be able to occasionally move heavy items, and there are occasional 10 hour (or more) days and 6 (or more) day work weeks. Not to mention that shaky hands or lack of mental acuity can be deadly. I'm getting too old for this shit.
I intend to use this blog to to explore some of my options and plans. While I would be thrilled if someone gained any insight to their own retirement, or if what I talk about helps you out in any way, my primary intend is to help me organize and track my thoughts, and hopefully get some feedback from other minds. If you happen to read this, and have any feedback, or just want to say hi, please do (I seem to remember there is a comment button?)
Ironically, a couple years ago, I had it all figured out. About now, May or June, 2019, I would give my notice, we would fix up and sell the house, and move to either Washington State, or Colorado so my daughter could go to school there with in-state tuition, and my wife and I could get legal pot.
We didn't have a huge 401k or savings account, but my wife had a pension from teaching, and I would be getting social security. We wouldn't be living a luxurious lifestyle, but we would be retired, have a house, our daughter could go to the school she wanted, and there would be enough left for the occasional vacation, trip to see our son (if he didn't move with us), and a trip to the pot shop and all the fishing I could want.
Then, April 2018, it all fell apart. We had gone to Colorado to look at some schools and look at some houses, see if we wanted to live there. While we were there, Kay, my wife died.
There is a reason people tend to die shortly after their spouse (https://en.wikipedia.org/wiki/Widowhood_effect) . It has been unbelievably hard. On top of that, the fine print on her pension bit me. We had checked early on that her pension was transferable, that is, if something happened to her, I would still be able to draw her pension. What we hadn't realized is that when she had to take an early retirement , and then died before full retirement age, I would be getting a very reduced pension, about half of what she had been. This more than ate up what ever cushion might have existed in our retirement.
While I might have been able to retire at 64 (my age at the expected retirement date) the money would have been tight enough I would be within an unexpected home repair or car breakdown, of it all falling apart. Besides loosing my wife, I lost my hopes of leaving a job I have grown to hate.
The thing is, all of us have 2 choices eventually. We either die while working, or we retire, even if it's not voluntary. While my job as a chemist isn't terribly physical, I do need to be able to occasionally move heavy items, and there are occasional 10 hour (or more) days and 6 (or more) day work weeks. Not to mention that shaky hands or lack of mental acuity can be deadly. I'm getting too old for this shit.
I intend to use this blog to to explore some of my options and plans. While I would be thrilled if someone gained any insight to their own retirement, or if what I talk about helps you out in any way, my primary intend is to help me organize and track my thoughts, and hopefully get some feedback from other minds. If you happen to read this, and have any feedback, or just want to say hi, please do (I seem to remember there is a comment button?)
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