Kevin N

Comments:

• Greetings Jonathan: I think you've hit something here. I retired from employment with the state of NJ in 2010. Took one year off and then returned to part time work. First, I drove the senior bus for the town that I reside in. Learned a lot about issues facing seniors including some who hadn't prepared for retirement and needed to utilize resources such as our community food pantry, free health care clinics, etc. Currently, I am working as a Security Officer at the local high school. I work approx. 5 or 6 days per month. Last year, I earned around $14,000. My wife, my son (last semester of law school) and myself live off my state pension and social security. We have yet to touch our retirement accounts which are now close to $600,000. My son provides most of his own support through p/t employment. I can pick and chose my work days and can easily configure my schedule to allow for travel. We've gone to Florida the last several winters for at least 3 weeks. I'm 68 years old and will work for at least another 2 years. Our Vanguard accounts are in several different funds. I can say that I haven't displayed the vigor that some of your columnists -tax consequences, bond ladders, equity/bond ratios, etc. but I feel the extra income provides less stress and a more leisurely attitude towards retirement. I have health care coverage through the state which also helps. Love your site!

  Post: Fire Meets Ice

  Link to comment from February 10, 2024

• Just a warning about pension inflation adjustments/COLA's. I retired with a full pension from the State of New Jersey in 2010. Generally, COLA adjustments started 2 years after retirement. In 2011, then Governor Christie signed legislation suspending the COLA adjustments until the pension funds reached a certain level of funding. I believe approx. 80 % of being fully funded. After 12 years my gross pension amount remains the same. I'm fortunate to report that none of my other expenses have gone up in that time (sarcasm). So for those lucky enough to have pension COLA's be aware that they can be suspended/taken away. I am certainly grateful for the pension I earned but wouldn't mind having the COLA also.

  Post: The Waiting Game

  Link to comment from April 1, 2023