People create blogs for many reasons, to showcase their creativity, in food, fashion, beauty, etc. I started my blog because I wanted to bring into focus a subject that gets a lot of attention on the internet,it is mentioned and encouraged at our workplaces, but many people do not realize just how important planning for retirement really is. It’s not just about the money.. no, it is so much more than that, it’s about making sure that all of your financial ducks are in a row, and making sure that your family members have instructions on what is to be done if you should die.
I am planing to leave the workforce and retire at the beginning of 2019, and if I had not prepared for this moment, It would be not have been possible, because I would still need money to survive, being able to retire early does not happen by chance, it takes years of mental and financial planning, from an everyday Budget to manage monthly income , to Retirement and Estate Planning, which I have put all of these things in place for this moment when I can say good-bye to the Corporate world, and move into the next phase of my life. I am so excited, that I am finally here and am anticipating its arrival.
Since I began working I’ve always had a focus on retirement , but for the longest time I just could not seem to gain momentum because of circumstances that I thought were beyond my control would get in the way. In my 30’s I got a divorce, had troubled kids, and still found the courage to get a good paying job that would take care of us, and afford me the ability to set aside some cash for retirement, but there was still a hurdle to jump over, I could not invest for 5 years, because I was not eligible to participate until I had been with the company for 5 years. When that time came, I began a 457 plan and began depositing 3% at first, the company policy was they would match my contribution. For every 3 dollars I would invest, they would give me 2. I thought that was a pretty good deal, and it paid off. As time went on I would increase my contribution with every raise I got.
I continued to work, and after many years, 21 1/2 as a matter of fact, I found another job I wanted to take in the same field, so I accepted the job and moved to Oregon. When I left, i started taking my pension from the previous company, I could not see a reason to wait, which I am glad I did it this way When I started the job in Oregon, I started a 457 plan again and began to save as much as I could for how ever long I was going to work here plus their pension plan began immediately, it was a 401b plan, which they deposited a determined amount every month.
It is approaching 26 1/2 years, and I am hanging up my hat, but I don’t plan to stop working, I created this blog, to help others to understand the importance of Planning for this day, to be able to make the transition as smoothly as possible. With all of this being said, you don’t know what tomorrow will bring, and we can’t control how the economy will respond to what’s going on in the world, but we can make our plan for today, to make tomorrow easier if it’s at all possible.
Until next blog