Ugh, retirement-go-round
Sep. 18th, 2012 06:58 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
monkey5sSo. Examination of the Consumer Price Index records (the US government has been tracking it since 1913) showed that, if I take the last five years into account, if I had been accruing Cost of Living Adjustments under the new retirement plan, I would be getting a retirement income that was 10.4% more than I started with. Under the old COLA plan, I would be at 15%. So, in that regard, it is entirely worth my while to retire at the end of this year- because staying until I had 35 years in would only give me 2% more in monthly income.
Then, when I checked the FAQs on the OPERS website, I saw that they warn you, in planning, that the estimate of how long it will take to get your first check when you retire, is currently 60 days. Estimate. Since I am guessing there will be quite a few of us jumping ship by Dec. 31, it might stroll up higher than that. So, I would have to come up with three months of living expenses set aside. Which... ugh. SO NOT HAPPENING WITHOUT EXTRA INCOME.
So I'm back to looking for work online. I would definitely need to make up the 25% that retirement won't cover, just have to get on top of that soonest, rather than after the fact.
I feel like I will probably be giving up most of my October vacation, too, so I will get that when I retire, to help. And half my sick leave. So that's good. In fact, that might cover the first month of no-money-while-waiting-for-bureaucracy. Which would only leave two more months. Or more. Ehhhssstimate.
Then, when I checked the FAQs on the OPERS website, I saw that they warn you, in planning, that the estimate of how long it will take to get your first check when you retire, is currently 60 days. Estimate. Since I am guessing there will be quite a few of us jumping ship by Dec. 31, it might stroll up higher than that. So, I would have to come up with three months of living expenses set aside. Which... ugh. SO NOT HAPPENING WITHOUT EXTRA INCOME.
So I'm back to looking for work online. I would definitely need to make up the 25% that retirement won't cover, just have to get on top of that soonest, rather than after the fact.
I feel like I will probably be giving up most of my October vacation, too, so I will get that when I retire, to help. And half my sick leave. So that's good. In fact, that might cover the first month of no-money-while-waiting-for-bureaucracy. Which would only leave two more months. Or more. Ehhhssstimate.
