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Retiring After 20 Years
Old 09-22-2010, 10:43 PM
 
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Anybody else planning to retire after 20 years on the beat? What will you do after that? I'm considering retiring and doing something else to supplement the income. What are pros and cons?


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Old 09-23-2010, 02:28 AM
 
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I was considering retiring after yesterday! Oh, wait that was quitting!

I will never work long enough to get 30 years in my states retirement--didn't start out in this state, and worked private school for many years. I'm working until I can't stand it anymore---which might be today. Really, I plan to get about 10 years.

Pros are you can then find something else you are interested in doing. Cons your retirement pay is significantly less than it would be if you put in 30 years.
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Retire?
Old 09-23-2010, 03:43 AM
 
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What is that? This is my 21st year to teach. My daughter is a senior and will be going to college, I have also got a 2nd grader.
On top of that I am a single mom.

I don't think retirement is in my near future unless I win the lotery or find a rich guy .
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Old 09-23-2010, 05:54 AM
 
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I have thought about it, too. This is my 28th year teaching, but the first 11 were in Catholic schools. I will get a small pension from the Catholic schools (read nearly nonexistant). That leaves me with 17 years in the state retirement fund. I know I am not going to be able to do this another 13 years!!!

So, I have thought about the 20 year thing. But with the economy the way it is now, I wonder what kind of other work could I do? What kind of income could I make? Will someone want me at my age?? The other thing is that I still have a mortgage and will for some time. So, I need to make a certain amount of money.

My state just decided that we should now pay an additional 3% toward our health care, BUT they cannot guarantee that there will be health care offered when we retire. WTH?!?? I am already loaning my district $10,000 that I will "supposedly" get returned when I retire or leave the district.

Then sometimes I wonder if I will ever really be able to retire.... <sigh>
This is one of those things that can keep me awake at night!!!
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Old 09-23-2010, 07:34 AM
 
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Is that common that 20 years is enough to qualify for retirement? Is that with full or partial benefits?

Whenever I do choose to retire, it will be for good. I'm not planning on a new career or job.


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Old 09-23-2010, 08:42 AM
 
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In my state we can retire with 20 years at a certain age and receive a full pension without penalty. However, the amount is certainly NOT the same as putting in the full 30 years.
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Wow!
Old 09-23-2010, 09:23 AM
 
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This is my 30th year. It has crossed my mind but I don't know what else will give me the pay, sicktime, personal time and summer vacation time that teaching does!! If you know of another career with these benefits, please let me know!

I do love teaching but sometimes I would just love to take a few days off together because some weeks 5 days in a row seem TOOOOO long!
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dream of retirement someday too
Old 09-23-2010, 12:32 PM
 
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I would love to retire and do something else in a few years if I could afford to, as well. I love teaching, but I do not love the stress that goes along with it. It has changed so very much since I started 19 years ago. I am in NC and we have a new evaluation instrument that is downright scary. It seems impossible to do the things they want you to do. I have 2 masters degrees and national board certification, but I don't know what other options I have. Strong administrators are few and far between anymore. Testing and test scores are the main focus for most of them. I am there for the children. I love the planning, and the whole nine yards, but always feel like my best is not enough.
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have the
Old 09-23-2010, 03:34 PM
 
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time in--this is my 30th year--but I don't have the age. have to be at least 55. My plan is to stay to 62 I have a dd that just started college and I have borrowed against my pension so that has to be paid in full. People have talked about retiring early--but I don;t know what I would do with myself. All i have ever done frome Sept to June is teach. I will not have the money to travel--so I might as well plan to stay till 62 and if I go out befor--it;s a bonus
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Old 09-23-2010, 04:24 PM
 
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I did retire after 20 years. Now I teach part-time and love it. No duty, faculty meetings, or evening preograms to attend. My retirement isn't a large amount, but it's enough to supplement my husband's salary. My part-time position is paid by the hour, and it's pretty good! I am definitely glad I retired after 20 years!
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