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Re: 401(k) Rollovers
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Posted by EGD [Email] (#663) [Profile/Gallery] (more from EGD) on Wed, 15 Apr 2015 10:31:39 Share Post by Email
In Reply to: 401(k) Rollovers, Bill Homer [Profile/Gallery] , Wed, 15 Apr 2015 08:34:17
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Thankfully, I have a legacy pension plan to go along with my 401(k). I get my first check from my employer on the first of June. That'll dove tail nicely with a six-month salary payout upon termination on the last work day of May.

I get a lower monthly pension due to my relatively young age (56), and I also selected a lower monthly pension because my wife is 10 years younger than me. If I die, my pension goes to her until she dies so we're looking at a potential 40-45 years of monthly checks or more considering her family history. If I selected an option in which my pension would cease upon my death, the monthly check would be much larger. The pension, though, is not inflation indexed so while inflation is not a current concern for me it may be in the future.

I'm looking at other engineering / management jobs because I don't want to be 'retired.' I just want something new and fun to do. I feel like a bug splat on the windshield at this point so I'm planning to take the summer off, drive with the kids from LA to Maine and back (through Denver, MSP, Milwaukee, Chicago, Detroit, and Toronto going; NYC, PHL, Baltimore, DC, Cincinnati, STL, and KC returning) spending July in Boston, and maybe catch a few baseball games along the route in the cities we'll pass through.

My only concern at this point is getting reasonably priced life insurance until I come up with another job. That, and keeping the wife happy since she'll be working and I'll be Mr Mom for a while!

->Posting last edited on Wed, 15 Apr 2015 10:42:10.
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