To retire or not to retire
I talked to the college's "financial advisor" yesterday. He's not really that; he's a nice man who helps us understand the 403b plans. But he gave me some other good advice.
At full Social Security retirement age, you can work as much as you want and draw Social Security. Of course, you're paying more taxes. You can't do that at 62.
At 70.5 years, you have to take required minimum distributions from the IRAs you have, about 4% (3.7%). That would be reasonable; it would be good income if you've saved anything in those accounts, which we have.
78 is considered the break even year. You want to figure how much to work versus when to retire based on the idea that you will make it to 78.
I have no plans to retire for at least five years; assuming the stock market/economy doesn't tank, all will be well.
So where is God in all of this? Well, I'm thankful for the good job with a good pension, and a natural frugality (cheapskatedness), and good health so far, so I see this as His provision. But 78? God could take me home tomorrow. Which would be ok, since I'd have little say in it anyway!
At full Social Security retirement age, you can work as much as you want and draw Social Security. Of course, you're paying more taxes. You can't do that at 62.
At 70.5 years, you have to take required minimum distributions from the IRAs you have, about 4% (3.7%). That would be reasonable; it would be good income if you've saved anything in those accounts, which we have.
78 is considered the break even year. You want to figure how much to work versus when to retire based on the idea that you will make it to 78.
I have no plans to retire for at least five years; assuming the stock market/economy doesn't tank, all will be well.
So where is God in all of this? Well, I'm thankful for the good job with a good pension, and a natural frugality (cheapskatedness), and good health so far, so I see this as His provision. But 78? God could take me home tomorrow. Which would be ok, since I'd have little say in it anyway!
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