Wednesday, March 22, 2017

What to Do If Your Retirement Plan Needs Tweaking?

I'm a little more hopeful about figuring out a way to retire than I was the last time I posted. Several reasons for this:

  • I managed to put in a proposal for a summer workshop at my school district. I have no idea (and, frankly, little reason to hope) that it will be accepted, but it was an important first step.
  • I'm still working on getting my life in order. My toe is healing nicely, and it looks as though I will continue to improve mobility. That would make it easier to move around, and continue functioning as a teacher.
  • I've re-booted my novel revision, and will be continuing to slap that puppy into shape. Once I do, I plan to approach publication from 2 directions:
    • Send it out to potential publishers
    • If I don't at least get a nibble within a reasonable amount of time, self-publish and self-promote
  • I'll be continuing my writing - I keep dipping into the Chem ebook, and may realistically anticipate it being on the market by late summer - just in time for new teachers to discover it!
  • I'm keeping my eyes out for other, non-regular school jobs. I will start dedicating time to that after Easter break.
One significant direction to follow is to (1) reduce expenses, and (2) get the money that is in the pipeline already - taxes, refunds, lost funds, etc.

I plan to put most of my efforts on relatively short-term, or part-time opportunities. The goal is NOT to replace my full-time job with another, but to reduce the time spent in paid work.

Monday, March 20, 2017

Social Security Re-Do

After my foot checkup, I stopped at the Social Security office. I was seen relatively quickly (for not having had an appointment), and had a delightful and personable young man assist me. It was a complicated question, and he persisted, using the Chat function to get more expert assistance from another employee.

The Result?

I've withdrawn my application for SS that was in process. I had applied in my own name accidentally.

I have another appointment with a representative to discuss how to apply in my own name, which it appears WILL result in my getting some money - Yay!!!!

At this point, no one can tell me exactly how much. But, I'm OK with that - I just have to trust the process.

Tuesday, March 7, 2017

Or, Not.

Just got bad news - Social Security confirmed that I will NOT be eligible for money based on being a 'wife of'. So, that $400/month I was counting on is Gone With the Wind, so to speak.

It appears that the trouble is that I get a pension from OH teachers. That government pension (2/3 of it) is deducted from my SS money. Alas, it is actually higher than the money SS WOULD have provided.

So, no money. Until I'm 70, and can collect in my own name.

I could collect earlier, but I pay a penalty for doing so. In addition to the penalty I will pay in either case, to the tune of around $350 less in my SS check than other folks.

The girl (can't call her a woman, not with that tiny voice) at SS had to deliver the bad news. She did say something incredibly dumb: she cheerfully pointed out that once I had 30 years of SS-eligible work, I wouldn't lose any money. She continued with her perky positive attitude even when I pointed out that I would be 79 at that point.

I don't know what to do now. I counted on that money to make it possible to retire. It looks like I have to work for another few years, at least.

I'm really depressed now.

Have You Prepared Well Enough?

This is a hot-button issue. All of the literature regarding saving for retirement suggests that there soon may be a glut of aging bums on th...