Retirement Just Around the Corner? Are You Ready? Prepare Now!

My husband and I both worked for many years in Indiana where we grew up. I worked as a Secretary in industry and finally at a college. My Husband, Norman, was a blue-collar worker, skilled welder, until November of 1990, when he retired with a good health insurance plan for both of us and a rather small but substantial pension. His pension was small because he opted for better health insurance which reduced his pension considerably.

We left Indiana in 1991, and moved to Roswell New Mexico. I had not retired as yet, and I soon found a job at New Mexico University at Roswell (NMUR). I worked as an Administrative Assistant in the Student Placement Department, where I had the best boss of all my working years. Nancy was a lady who truly appreciated my skills and attendance at work, and the two of us had a great relationship. I worked at NMUR for about a year and a half before retiring, when I was 63 years of age. Norman and I each receive a decent Social Security payment which comes from our dedication-to-work ethics.

During our years of working, we had managed to set aside $70,000 for retirement, which was and still is, invested in C D's and Mutual Funds. Our Social Security income added to our interest from investments provides a good living. We did not have to downsize our life style; we continue to eat out twice weekly and to enjoy other outings and trips as we desire.

In this time of early retirement, we had our home paid for, and received the total asking price for the home we sold before going to New Mexico. We rented a house for a few months in New Mexico, and then found a home that was perfect for us in a nice medium up-scale neighborhood. We had the cash, so that did not set us back at all. Be sure you have the main necessities before you even think about retirement - a home without a mortgage, substantial funds set aside, a good health insurance plan and a little extra cash for specific needs and fun activities.

After my retirement from NMUR, I was a hospice volunteer as well as in other capacities. I also taught poetry classes at the Roswell Adult Center for several years, a paid position. Retirement can be enjoyable if you are prepared emotionally, physically and monetarily.

In December of the year 2005, we decided to move back to Indiana and be closer to our daughter So we sold our home in Roswell which sold the first day on the market. We could have sold it three times.

On the day of the final closing on our home sale, we headed for Indiana, where we stayed with our daughter until we found a home. Again, we paid cash for an almost-new home.

We now live in Rochester, Indiana, and our monthly budget is a little over $2,000. It was probably a little higher when I was working, considering cost of driving to work and dressing appropreately. We live more fiscally responsible now than when we worked, although we always watched for spending more than we put in the bank each month. Keep close check in this area, as it can build until you are in financial trouble.

Sources:

Personal knowledge and experience