I am on year 28 of teaching. I logged into my state’s retirement website this morning. If I teach 15 more years, I will get a very nice monthly income when I’m done. I had no idea it would be over $5500 per month.
I have numerous other investments that I will continue to contribute as much money as possible into (Roth IRA, 403b, annuities) over the next 15 years.
I was worried that I wouldn’t have enough to have a nice life in retirement but between me and my husband we should live better than fine.
Now, if I can just get students to behave and care, parents to support me and admin to back off and let me teach, I think I can do this.
Ok, but 43 years of teaching is a bit much nowadays . I am at 34 years at almost 56 and do NOT want to have to go past 60. I can NOT do this until 65!!
I'm currently of retirement age. I plan to work another 4-5 years. I just renewed my license, and I'm already working on credits to renew in 2024. So really, I could go until I'm 75 or so.
Must be nice to have such a retirement benefit already promised. Nothing like that for us.
That seems like a lot of years to me, but it sounds like you have a good attitude about it! I'm only 10 years in. To get a decent retirement I need 35 years, so 25 more. With the way education is going, having to get 25 more years is really scary to me. And that's if the retirement system hasn't been totally dismantled by then.
My dad taught for 36 years in public schools, retired, and got a job in a private school this year. He is deliriously happy with it and says he could do this for 20 more years! The salary is of course crappy, but it's on top of his pension.
After this year I only have 9 to go and I'm out. That is if I have two years of sick days built up which I should have them. I will be 55 and I plan on doing anything and everything. The way my school system is running makes me wish I could retire tomorrow. I will not stay even a month longer than I have to.
You’re all soooooo smart to be planning ahead for retirement! Good for you!
I appreciate my retirement every day. I wholeheartedly believe my wonderful retirement is possible because, like every single one of you, DH and I (loosely) planned to be economically secure. Truly, this is the first time in my life I don’t worry about money and that makes retirement SO MUCH FUN!
So keep planning. Make sure your housing and medical insurance are easily affordable. Then join me in the best time ever.
I taught for 42 years, 12 in one state and 30 in another. I was never able to afford to buy back the 12 years, so I receive a small pension from the first job and a much more substantial one from my second. I went out at 63. I am holding on till at least July before drawing social security because that will be my full social security age.
You will know when you are ready for retirement. I had hoped to work till 66, but when I went for my pension consultation, the difference in pension was very small, and it wasn't worth the stress. I also wanted to make sure I was healthy and able to enjoy a full retirement. I have unfortunately seen too many people go out later and then circumstances happen and they don't get to enjoy retirement.
I hope you hit your personal and financial goal of retiring in 15 years. It does go fast, but it is more challenging than ever in these times.
Holy cow! Seriously? No way would I teach that many years. I’m on year 34 and eligible for retirement. I’ll be done. Too early for social security but will get my pension. We have enough with investments that I won’t have to work unless I want to pick something up
I've only been in teaching for fifteen years and have a hard time imagining fifteen more. But good for you!!
I have taught in private school for most of my fifteen. And PERS is so screwed up right now that I'm also not counting on any kind of pension being there if I do make it to retirement age as a teacher.
So, luckily, we've never counted on me having retirement to speak of.
I won’t go that long. I really love my job but there are days, like everyone else when I can’t wait to get out!
My only child is done with college in May and will hopefully be on his own with a teaching job next fall. Although 95% of his college has been paid for through an athletic scholarship, I still help him out with small bills, rent, etc. Once he’s done, I really plan on investing heavily so hopefully I can retire in 12 years or so.
I have been blessed to work in the same district all 28 years. Although we do have our small share of problems with kids/parents, we really do have an awesome little community with great kids, parents and admin.
That’s a great feeling! I can retire in two years. Younger ds graduates college in two years. I am giving him two years to get himself settled. I will retire in four years when I will be 57. Dh and I will then sell our house and relocate to the Carolinas. We are still deciding North or South. My retired friends say they actually make the same amount of money each month. The deductions are much less and no healthcare payment.
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10-20-2019, 01:13 PM
. I am at 34 years at almost 56 and do NOT want to have to go past 60. I can NOT do this until 65!!
But good for you!!
