Planning For and Enjoying Retirement

by Winifred
(Michigan)

It's so wonderful to hear a positive retirement story! When I retired I felt so sure I was doing the right thing that I never worried about how I would handle it. I knew at almost 57 that I has chosen to leave a job where I had been for 13 years and chose one I was not made for...customer service account manager.


I had worked at the present company for 4 years and I was beginning to feel anxiety upon signing in every day. I would be vested after 6 years, and my late husband's military pension and my salary gave me a feeling of security even after I'd signed a 30 year mortgage for my own home.

I decided that I would retire on May 2, 2006, exactly 6 years after my start date and I immediately started planning for retirement at 59 1/2. I started saving 25% of my salary and putting away every penny that I could afford into a company matching IRA plan.

Six months after my planned retirement date, I started collecting my husband's social security, my small pension from the previous job and an even smaller pension from the last company.

My old employer hired me as a contract seasonal worker for 3 years, working usually 3 days per week, adding to my income. Soon I learned I'd get an annuity from the military in addition to the pension. I claimed my own social security at 67 and, in total, I have 5 sources of retirement income.

My retirement has been very comfortable - no money worries, an untouched IRA and the ability to travel as much as I've wanted and offer gifts to my children and grandchildren.

I owe it all to planning - not just for the 2 years before retiring, but forever. I appreciate every day God grants me and pray that my health continues to be manageable for as long as possible.

Comments for Planning For and Enjoying Retirement

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GRATITUDE
by: Loyce!

Many have so much to be grateful for, benefits/pensions/inheritance in contrast to those who struggle daily.

Financial Planning now what?
by: Joe W.

I love these retirement stories where everything financial is planned to a T but then there is a blank about what your going to do for the rest of your life with all that extra time. Any ideas yet?

Joe W.
Seniorpreneur

Saved for ten years...
by: Wendy, www.retirement-online.com

Kudos to you, Winifred! (do I know you? I think so!)

My folks saved like crazy the last ten years before they retired. Now, in their early 90s they are still doing well, still drawing from IRA's (mandatory withdrawals).

They even lost health care through GM (dad was white collar, non union so they lost benefits. They pay for their Blue Cross/Blue Shield, prescription coverage, vision and dental now, but they are lucky they have the savings to be able to afford same.

My financial planning was based, in part, on them. I asked how much they had when they retired, what their monthly incomes were, just figured it out logically for myself.

Mom is fine at 91, and I am 62... I could, God Willing, have another THIRTY YEARS of retirement.

Praying about that one!

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