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I have been Teaching for 40 years. My wife wants me to keep on teaching but I am so tired of all the stuff that is required nowadays . I have a pension after 30 years, so that is covered. I will be 65, in September and will qualify for Medicare. My wife is 3 months ahead of me so she will have coverage. When I retire my current benefits will end when Medicare kicks in. I qualify for SS but my wife has not been able to work enough for any real benefit. However she will be able to get 50% of mine. If I notify the District in February, I will get a bonus of 300.00 a month gorgeous the remainder of the year.
Should I quit and move on when the year is over.?
Is working longer going to do anything to significantly increase your savings or you pension? I doubt it, and if I'm right, I'd go ahead and retire at the end of the year. Why keep doing something you've grown so weary of?
Now how do I convince my wife. That's the problem.
You sit down and have a frank conversion with her about how your job is effecting you emotionally, and how working longer isn't going to have any real effect on your post-retirement finances. After all, unless she expects you to work until you literally drop dead, at some point you're going to retire. So why not now? Unless working longer adds significant money to your retirement savings or significantly boosts your pension, what's the point in continuing to do it? She's going to have to adjust to your post-retirement income sooner or later, it might as well be now, before your health fails and before you're completely burned out.
A thought: When I hit 31 years, I had been capped for five years - no raises and no further impact on the pension. For me it was simple math. If you are making X and your pension is one half of X, you are going to work for fifty percent of your salary, because the other fifty percent you'd get anyway. (Fill in your own numbers and percentages.)
Another thing to consider is why your wife wants you to keep working. If she can articulate some benefit she sees you get from working, suggest other ways to achieve that benefit from doing something else. (If she just wants you out of the house, you may be in trouble...)
Let me guess:
Framework for Teaching
Value added evaluations
Constant drive by observations.
I pulled the pin when I was 60. Actually left at the end of the 1st Quarter and used up some sick leave to finish out the year (I still had a year of leave left when I finished that).
Officially retired at 61. Collect my pension, waited a year for Social Security. I am/was in a bit better position than you. In exchange for a lower pension my insurance continued after I retired, which I pay $400/month for, and will become the secondary insurance for Medicare.
Unlike your wife, however, Mrs. NBP had no problem with me quitting.
You sit down and have a frank conversion with her about how your job is effecting you emotionally, and how working longer isn't going to have any real effect on your post-retirement finances. After all, unless she expects you to work until you literally drop dead, at some point you're going to retire. So why not now? Unless working longer adds significant money to your retirement savings or significantly boosts your pension, what's the point in continuing to do it? She's going to have to adjust to your post-retirement income sooner or later, it might as well be now, before your health fails and before you're completely burned out.
I agree.
In my area, it is very, very rare for a teacher to work past 62, whether they want to work or not. Many of the districts, in my area, start pushing out teachers in their mid-50s and definitely by their late 50s because they consider them "too old" to be effective teachers. And, so the district can replace them with someone cheaper right out of college.
It can be a real financial hardship for some of the younger teachers (age 55 to 60) to retire (especially paying for health insurance) but when the bosses are putting most/many of the older teachers on Improvement Plans or actually firing them, what are they going to do?
Be honest with your wife. Frankly, it seems pretty selfish for your wife, who has not been working for 40 years (or at least not working full time for 40 years) to demand that YOU keep working after you want to retire. I'm sorry if I am totally misunderstanding what you wrote.
Last edited by germaine2626; 12-09-2016 at 04:27 PM..
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,700 posts, read 58,022,681 times
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Quote:
Originally Posted by rwaustin
You hit another nerve, in the Danielson evaluation. I'm on the comprehensive and I don't know what to do. This is so much BS.
You are 'ripe' for a change. retirement / unemployment, other PT work...
several of us read 'Dying Broke', prior to retirement. worked for my coworkers..
Basically... Emotionally QUIT your job today...(don't tell your boss / wife...yet). just do a good job and minimum required. Get through the yr (if possible) and start a new chapter. It will be easier to continue your final yr, knowing you have already QUIT! (just don't tell your boss, yet...)
Maybe not even your wife!. Show her the PLAN and explain you need a renewed LIFE.
You will LOVE retirement, and so should she. We never had more than a single earner hourly income. No pension, yet retired age 49. We travel and recreate a lot separately and do eldercare and volunteering in different venues. We have a lot of fun together, and a lot of fun apart. One likes to camp, so has a small RV (fits in garage and std parking space). Other likes to fly, so we do both (a Lot). we will drive RV to a destination and then go separate ways for a few days, weeks or months. Several yrs away from age 65, probably not get SS until age 70, we live very CHEAP and have a blast... (40 yr old car that runs on FREE cooking oil...) rent out the main house (on acreage) and live in a cozy little cabin. have lots of projects and toys (probably build a few more houses in our free time). As homeschoolers (and ex teachers) our kids designed and built their own homes grades 9-10, then went to college (for free) grades 10 - 12. 10 yrs beyond college for kids, and we are all fine, and I just completed another grad program.
Plenty to enjoy AWAY from teaching career (I teach adults and in Jr College PT for fun and extra travel money)
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