I took some time off from the computer. I can burn more hours than there are in a day. Always try to give myself time for the family & for God.
I have been thinking ’bout my retirement. It was so easy to leave work but I didn’t really leave it. I know that I was so unprepared. I had been analyzing our spending habits for years but that didnt prepare me for what I needed. My wife has gone back to work full-time. This a dual financial decision. We had talked about her needing to work fulltime for the final 48 months of her employment. This will boost her pension. What we also needed was the funding for our daily expenses. I am already drawing my pension but it is less than $2k per month. Well short of our monthly expenses of $5k+.
What will the future bring? We receive health benefits from my wife’s employer. If she retires in 4 years, then that will become an out of pocket expense. So thing will need to shift. We still have about 9 years of mortgage payments. Right now that expense has a 5 year gap. I am not counting on the gov’t to provide. I dont believe that SocSec will be helpful. In 4 years our son will enter college & we have a 6 year old that will be fast behind. I am sure we will make it. I just hope we are not a socialistic nation.
There are alot of things that need to be contemplated. I am just surprised on how little prepared we are for retirement. We spend the first 20 years of our life to prepare for a career. We get near 60 years old & then just retire. There are so many things we need to know but dont know that we need to ask. I read info from “The Motley Fools” retirement site. Also, I listen to a bunch of different Podcast. There is so much info available. Some free & some cost. Lots of books to help. I wish I had started 10 years ago but why would I have?
Well I think we are ready for this next year. Talk to you later.