End of a Year

31 Dec

When I started this blog last year, my plan was to do 6 months before retiring and 6 months after the retirement date. I officially retired 6/30/2012 so my last 6 months is up tonight. I’ve discovered, however that I am still trying to figure this retirement stuff out.  I have decided to continue for another 6 months comparing the before concerns with what I’ve learned after the retirement.

Today I started on drawing funds from my retirement account. I learned a lot 2 years ago when I couldn’t draw out money to buy this house.   Washington State didn’t want me to do anything foolish with my money, so I could not withdraw anything until I retired. Heaven forbid any teacher from buying a  home for retirement or paying off a mortgage before they actually retired. Pre-planning should only be done as a possible plan no matter what interest on the money is doing or your age until you are 70.

Now I can withdraw money from some funds but others will only be paid out in monthly installments.  I haven’t even wanted to ask how many years for that calculation. I am not 70 and I don’t need it at the moment. Oh well, I’ll worry about that in the future. The interest return on those funds are about what a savings account would pay. That should make me independently wealthy in my old age.

So we’ll withdraw money now to pay off all of the home improvement projects. I’d love to say that a rewire, new plumbing, new appliances and new kitchen cabinets are within our normal income but I’m not that silly.  We will see how this plan works out for the new year. The process will not be a fast transfer but being patient is part of my new retirement mindset. Right?

One Response to “End of a Year”

  1. gramajan December 31, 2012 at 8:09 AM #

    My sister once told me she had learned not to pray for patience, because patience is only learned through adversity and she didn’t want any more of that, thank you very much. Incidents like being attacked by drywall, and recovering from same, have probably taught you a little more patience. It’s never a pleasant lesson, but a hard-won benefit all the same.

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