Sunday, July 8, 2007
The Next Phase
It seems that DH and I are about to enter the next phase of our lives. He is ready to retire and I just started a new job a year ago. Actually, that was the plan. I was in school for 4 years prior to taking this job. I got my master's degree and was working on a doctorate when this job opportunity came along that was more attractive to me than 2 more years of school. So, the plan was, when I finished school and got a job, he could retire. Thankfully, for our finances, he does not really want to retire, just step down from his current stressful position, which he finds increasingly distasteful, and get something less demanding (which usually means something less lucrative, as well). So, we spent most of today looking at our finances, figuring our retirement income and talking about various job possibilities for him. It is scary to know how much, and how soon, he would like to leave his current position without knowing what he might do instead. However, he will turn 63 next month and he has been the major contributor to our finances during our marriage, so I whole heartedly support his decision to "downshift." For my part, I better go into work tomorrow with renewed vigor and commitment because it's my turn now to be the major breadwinner (although, if he finds another suitable position, we might not need to touch our retirement savings for another 3 years or so). Well, that's all that's fit to print for today!
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4 comments:
I will look for your thoughts as this change takes place--my DH & I are about 2 years from his retirement. Mine happened 5 years ago, unintended--my work place eliminated my department. So, I have returned to teaching as an adjunct prof at a local community college.
Down-shifting can be fun!
I wish him luck in stepping out of a stressful situation and you in your job.
We have been in the same period. My DH had the most stressful job of his life in Delaware as a division VP without corporate support. We moved away. He's a workaholic and I'm ready to step down from full-time to part-time. I don't know what the future holds for us but he enjoys his job here in NC. For now (?)
It's very important to get out of stressful jobs no matter what the cost.
The most difficult part of this transition will be health insurance. Currently, I am covered on his policy provided through his employer. I work in a very small shop--3.5 FTEs, including me!--and we do not offer health insurance. So, it would be best if he could find something less stressful to do that has health benefits or, if no benefits (consulting or part-time) enough money so that we can purchase our own. If not, a considerable amount of our money will go toward health insurance--a ballpark figure we have been quoted is about $13,000 per year (this includes premiums, deductibles, and the maximum out of pocket expenses we would be liable for in one year). If it weren't for this health insurance situation, I'd say "turn in your resignation tomorrow!" Anvilcloud--too bad we don't live in Canada, ay? (How do you spell that sound/word at the end of questions?!)
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