Introduction

Introduction: Mapping Out a Plan for the Rest of My Life and Enjoying the Journey

My Golden Years are an extension of the life I have lived up to retirement which began on December 1, 2011. I have organized this blog to include the top ten relevant topics shown below in the right side column in General Topics. Just click on one and you will see all that I have written on that topic. Click on the Most Current tab for chronological order of all entries.

I have addressed each topic in no particular order other than what is currently on my mind on the day I am posting. I started each topic by describing where I was when I began this blog and then exploring the possibilities of progression and any goals that I would like to meet. After that, I write about the path to reach that goal as it happens. Sometimes I just write about what is happening now.

I welcome any comments and questions either on this blog or email as I travel these paths and hope to share my growth with interested persons who may find some common elements in their own path to the rest of their life. I hope to use my skills as an appraiser for nearly 30 years to continue to observe different perspectives on a subject and reconcile into a conclusion that is of value to me. Please join me whenever you like. Email notice of new posts is no longer available so just bookmark the address.

The Blog Archive tool is helpful to find posts by year. Of most importance to me is the confidence developed in my intuitive skills over the years and it is that part of my character I am trusting to define value in my life. I believe change can be good and I can be enriched by believing in my true self using my intuition. The analytical part of my life no longer has a financial grip and I can let go of what absolutely made sense at the time in favor of what feels right now. I have done a lot of work since this blog began in 2011 and I hope you will join me as I explore this approach in My Golden Years.


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Wednesday, December 30, 2015

Financial Planning - Beginning my 5th Year of Retirement

I have ended my 4th year of retirement in a good way.  The decision to begin Social Security at age 62 was made and it will work very well for me.  An added bonus is that is will also work very well for my husband.

From my last blog about Financial Planning, I was undecided about starting Social Security and thought I should try living on my base retirement and profits from my investments until I'm age 66 which is the full benefit age.  I had no significant savings as I have been making large purchases instead.  Here are the reasons that this appears to be the best decision at this time:

1.  The Temporary Payment portion of my state pension ends when I reach age 62 with the assumption that Social Security will take it's place.  This payment was about 1/3 of my total pension.  Social Security is a couple hundred dollars more per month than that Temporary Payment.

2.  The marital strategy of "file and suspend" would not benefit me but would be much less in dollars and runs the risk of less payment should I become a widow before my husband reaches age 70.  This "file and suspend" strategy will be discontinued by March 2016 as it was found to be a legal loophole by politicians that was recently negotiated to close.  I think it worked best for those couples that had one spouse with very little work history that paid into the system.  I have 40 years paying good wages into the system and now it is payback time!  Remember the TV horse show from the 1960's, "My Friend Flicka?"   Well, now it's My Friend FICA!  Thanks to all you wage-earners out there!

3.  Instead of "file and suspend" we were told by a Social Security Representative that it would be to our benefit for me to file at my earliest time (my 62nd birthday) and then have my husband file on me while he continues to work until age 70, the maximum payment age.  This does not affect my amount in any way but gives my husband half of what he would be making at age 66.  We had thought it would be half of my age 62 amount but it turned out to be half of HIS amount at age 66.  The law had changed in recent years that allows a person to make a larger amount of wage and still collect Social Security.  Of course, there will be taxes paid on this higher income for my husband.  Best of all, his Social Security continues to grow to maximum and I can collect off his increased benefits should I become a widow.  Win-win situation!

4.  The money my husband unexpectedly will now be making off my age 62  Social Security filing has been earmarked for home improvement which will take any pressure off his wages (he's still saving for his retirement) and I likely will increase my savings for added security.

5.  My investment base amount has dropped in 2015.  I had expected a minimum of 6% growth each year and got in the first two years.  The past two years have been less than 6% and 2016 will be the first year I will not take any distribution.  The distribution was used to largely fund my Health Savings Account (HSA) each year.  That amount is the maximum out-of-pocket dollar amount I have to pay for my medical issues.  I will try to pay that amount in 2016 from my savings; if not, I will have to reduce the base amount of my investments.  I don't want to do that as I've stopped adding to it when I retired.

For the most part, I have been living within my means and enjoying my retirement with little restrictions.  My needs and expectations are less than when I was working and I'm traveling about as much as I want.  I still have a dream to go to Europe and may be getting closer to a real time as now I have decided I do not want to travel alone and may wait for my husband to retire since there appears to be no one else available in my life that wants to or is able to travel with me.  Maybe a few years of savings will make it all real and my husband and I will have the trip of our lifetime!

It still takes some planned effort to make sure I'm secure enough and manage any financial stress potentials.  I have recently been relieved from a 2% income tax loan that I finally paid off from 2011 as I had a very large backdrop payment when I retired from the state.  Half of that paid off bills and bought a new car for cash and the other half is my investment base.  I still kept a balance on a 9% credit card that did not get paid down every month these past two years.  I have recently put that amount in a 0% Credit Union credit account that I will pay off in 18 months.  Again, that increase savings potential from the new Social Security situation along with continuing with the normal payment I am use to paying for that 2011 income tax loan will take care of that as long as I keep the discipline and not add any more credit debt.

Because of the uncertainty of when my last Temporary Payment will be made and when the Social Security payment begins, I have been living lean so as to not spend money I don't have until I get it.  Christmas was leaner than usual.  I did spend more than expected on homemade gifts which for the most part was the final genealogy product I've been working on extensively this past year.  I made nine copies for family members and that cost.  It is also the final product.

So I'm starting out the new year with some uncertainty waiting to see my new reality.  Expected increases from Social Security and commitment to save more money so I can do more is the main plan.  My husband will take care of the household repairs and remodeling and my financial help will not be expected now.  My health expenses are big and won't change until I'm 65 when Medicare takes some of the load.  Best I can do is to manage my health issues as to keep my good quality of life and make sure the money is in the HSA when I need it.  Financing my activities is manageable as I have found a level of activity that is comfortable and do not want to increase.  As you can see by my other articles in this blog, I'm active enough!  I do plan to travel to see family out of state a couple times a year and 2016 will include a trip to the west coast for the first time.  There is much to look forward too and I can reasonably expect success.

The Beginning of My 5th Year of Retirement is optimistic!  My health issues have progressed but there are new medicines recently prescribed that are working good!  My prosperity is good as long as I keep within boundaries I have set with a realistic budget.  I am getting much better at it since I have retired than when I was working!  My happiness comes from being at peace with myself and improved relationships with my family and friends.

I have real expectations now that I own my own time and don't allow anyone to stress me out or waste my precious retirement time.  I am in a position to let everyone know how much they mean to me and that I value their time.  I am able to love unconditionally.  I let people know I can be there for them and am flexible to their time if they're still working.  But I can find many interests on my own when they are too busy to include me in their lives.  True happiness comes from within and not dependent on other people.  I am still challenged to find a balance between caring about people that may not care about me and being true to myself.  I do have more "true" friends now than when I was working.  Life's experiences have taught me that many relationships are conditional and self-serving.  Retirement has shown me that there are many people that truly value me and like having me around just because I am me.  Intuition has given me the power to see the difference!


Wednesday, December 23, 2015

Time for Family, Friends, and Genealogy

I made 9 copies of 3 branches of our family tree which included 7-8 generations beginning in the 1830's with help from Family Tree Maker, Ancestry.com, and living relatives.

It has been a wonderful year filled with family and friends!  It also was the end of a year-long genealogy project I wanted to share with immediate family members for Christmas.  I feel so blessed to connect with the past and present and look forward to many more years of family growth and discovery.

I was so pleased to learn from my daughter that she helped to organize a family get together with relatives in Iowa and Nebraska for Thanksgiving week.  It would be a great time for family members to meet her new husband as well as reconnect after many years!  It took several days to fit every one's schedules but we got it done and memories were made.  My son and daughter-in-law traveled all the way from Virginia!  It was too bad that my husband could not be there due to work commitments.






It began with Grandma's Day.  There was a pizza and wings party and my children and their spouses spent quality time with my husband's mother and two sisters.



After our visit with Grandma and the Aunts went back to work, my children and their spouses went with me to see my friends at the courthouse nearby.  I've been blessed to have had these beautiful ladies as my friends since the early 1970's.  One was my Maid-of-Honor and the other my senior classmate and neighbor.  We have kept in touch all these years.



The next day was spent with 14 family members at a restaurant in Omaha.    Good food and lots and lots of conversation.  My brother and I were so happy to see our combined families together in one place!  Missed very much were my husband, and two of my brother's grandchildren and their families; otherwise, that would make 8 more members for a total of 22 between us two siblings!  Now if our other brother from Virginia were here with his family that would add 14.5 more for a total of 36.5 family members between two brothers and a sister!



The next day was spent at my brother's house and I made plans to spend the afternoon with my dear friend who lives nearby.  She was the first friend I made when I first moved to Iowa in 1971.  We were also senior classmates.  It was her first day of retirement and I helped her celebrate!


Then came Thanksgiving Day!  My daughter and her husband had to travel back to Missouri for work commitments the day before.  My son and daughter-in-law spent the day with her cousin and their family in Omaha.  So I was fortunate to have a big family dinner at my niece's home in Omaha.  So much good food prepared by great cooks and everybody helped out.













While we were eating inside...the rain was freezing outside!


The next morning there was a thick coating of ice on everything so I waited until my car thawed out in my brother's heated garage before attempting the icy 6-hour drive back to Missouri!

I got home safely from Iowa that evening although the drive by myself was very stressful.  A couple hours later, we were fortunate to have my son and daughter-in-law stop by our home in Missouri for dinner on their drive back to Virginia.  My husband was especially appreciative since he missed this family trip with me. 





With the Thanksgiving festivities over, it soon moved toward the birthday and Christmas season.  My son had his birthday and was given his gifts from me before he went home.  A few days later, my good friend and I celebrated our close birthdays together with a trip to Branson.  We saw a show, the Christmas lights trail, and had a nice dinner at Olive Garden.




My husband surprised me with a dozen red roses, my favorite chocolates, and a lovely card for my birthday!  





We had friends, a husband and wife who live nearby, over to our house for my traditional kolache and coffee.  


Then I was invited to a friend's house for our regular Girl's Night Out and Christmas gift exchange where we also celebrated my birthday with a cake and good company!


The weather had been so unseasonably mild for this time of year here in SW Missouri that my husband and I got one more time to kayak on our local lake.  The sunset was exceptionally beautiful as the lake looked like it was on fire!



It was quite a challenge to put together my Christmas gifts of genealogy binders this year for nine immediate family members.  My computer crashed and was in the shop for a month and I ran out of ink a couple times!  One of the three branches had 17 pages to trim and paste together...for nine copies!  Still I enjoyed every minute and it was all in the mail the Monday before Christmas with hopes that most of them will get there on time.  Family time may not always be easy but it is always worth the effort!  And not to be left out is my Bobi Kitty...my loyal friend and family member wishing everyone a very Merry Christmas and Happy New Year!