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Traditional Accounts + Teacher Pension Dilemma

Traditional Accounts + Teacher Pension Dilemma

Su
Summer08 · · 12 replies

Let me begin this by saying, I am SO burnt out from teaching and if someone told me I could walk away at the end of this school year I would. In 2016 we found ChooseFI after our 2nd kid was born. Since then, we paid off student loans and other debt and started maxing out all options shortly after. We are early 40s and have accumulated a lower, but consistently growing, 7 figures in net worth (mostly in traditional accounts). I want to walk away from teaching, but in “only” 7 more years I will be eligible for the full benefit, which will be roughly $6500-$7000 monthly for life (before taxes). If I walk away now, I would have to wait until I’m 60 to collect anything. Because I wouldn’t have all of my years of service, the monthly benefit would be cut in half and then maybe a bit more. I am not eligible for SS in my state, though my husband is. Please talk some sense into me, or tell me to leave. Anything is fine 😄

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Replies (12)

timconstantine

timconstantine

1 month ago

BeckyOColorado

BeckyOColorado

1 month ago

Darby

Darby

1 month ago

CincyFlyer

CincyFlyer

1 month ago

Dmollick

Dmollick

1 month ago

woptaufx

woptaufx

1 month ago

Charlotte

Charlotte

1 month ago

jonathanMendonsa

jonathanMendonsa

1 month ago

Cruzzer

Cruzzer

1 month ago

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