And they come with no warning,
nature loves her little surprises.
Continual crisis!

Tuesday, September 18, 2007

Retirement

Well, I can't type about it much at the moment, but my plan to earn a living in retirement by writing is coming together nicely. Nope, it's not about being published, it's about watching all the other retirement options going bye-bye. Once I have more info I can let you all know what's really happening, but as of this week, my union's Supplemental Retirement Fund is history, thanks to the new funding law put into place by the former Republican Congress. There are two other retirement funds for the union. From what I understand the money from the Supplemental is being rolled into the inter-local to fully fund that one. Everybody currently on the Supplemental will be continued at full benefit, but nobody will be added as of last week. In our shop we have someone that was filling out the paperwork to retire at the end of this year. She no longer can retire then. Several people who were planning to retire in the next 3 years are now re-adjusting their plans and will probably not retire. There is not a happy mood in the shop at the moment. There's a big meeting this Saturday (which I probably can't make), just in case we make the news.

You'd think at 41 I wouldn't be so worried about retirement. You would be wrong about that.

8 comments:

Unknown said...

I heard a magic word once upon a time and I think it is still magic- MEXICO.

The average yearly income there is about 6K per year. If you can retire and manage to bring in that much income, you can retire right now. I believe you can get your SS and medicare there as well. I read it in an AARP magazine (I work for a doctor so we get all kinds of magazines).

Steve Buchheit said...

They're building luxury apartment in Tijuana (sp? to rushed to check at the moment). Seriously. There'a Trump Towers going up. You get the benefits of Mexican Economy, luxury, and you can make day trips to the US if you need to. Plus, I hear Vicodin and Viagra are doled out in Pez dispensers down there they're so cheap.

ThatGreenyFlower said...

Yeah, but if you retired to Mexico, just think how awful your skin cancer would be by the end! (I'm sorry...I'm just a little bit fixated on skin cancer right now.)

I, too, worry about retirement, Steve. I am actually working at a job (that I happen to really like, but that's not my point at the moment) where I make a LOT less than my counterparts in the private world, but the retirement benefits are KILLER. We're socking away as much as we can.

All we want to do when we're old is afford food and adult diapers. Is that so much to ask?

Todd Wheeler said...

Just hop on the trolley from Tijuana to San Diego.

At least, until the Zapatistas throw a wrench into the works.

But seriously, is the retirement fund gone or changed from defined benefit to 401k? I mean, the money must be somewhere ... right?

Camille Alexa said...

Not Tijuana. It's a border town. Who needs drunken frat boys in retirement? Go a little farther in.

Steve Buchheit said...

Greeny, yeah, I don't think I'd like the heat either. And Bette is fair skinned and blond, so she would be toast.

Todd, our Supplemental Retirement Fund (which pays during "early" retirement) has been placed in "critical" status. Our regular pension fund(s) are still in place (although there were warning signals from our actuaries in this letter). From what I can tell they're rolling up the program, keeping those who are on it at full benefits (although I expect that to change next year), and moving the funds to shore up our main pension fund. This all has to do with the 2006 law on pensions.

But, Camille, on the TV those apartments looked really nice. Yeah, if I was going to go to Mexico it would be in southern Xuahacha. I've never been there, they tell me it's nice. Still rural, enough amenaties to be a vacation desitination for small groups. Lots of history and culture.

Jim Wright said...

Steve, stay away from T-town. If you're going to retire in Mexico (and, you know, who isn't?) go further south on the Pacific side. Mazatlan or Puerto Vallarta, same low low prices, clean, beautiful, and everybody speaks English. Not that I've thought about this or anything.

One thing about being in the military all those years, it's dammed hard to beat the retirement.

Steve Buchheit said...

Sorry, I guess the province I'm thinking of is now spelled "Oaxaca." I've known some people who have gone on vacation there and they say it's wonderful. However, if I would move to another country to retire, it would probably be Canada, France, Ireland or Scotland. Norway and Findland might be nice as well. Switzerland and Austria being a little too expensive.