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Retirement Stuff

June 17th, 2015 at 06:24 am

Yesterday was another no-spend day.

I found another quarter by the same range of parking meters. I also found a penny in the college parking lot.

I had my exit interview yesterday. Mainly, I learned that my $12K lump sum will go into the bank on July 15, and that is also when my little monthly stipend will begin. I am estimating that after taxes, I will get about $200 a month for the next three years. Also, a lump sum will go into my retirement fund -- only in the $500-600 range as I remember. That may happen sooner. I should check today!

(New readers -- this is not all that I will receive in retirement. I will start getting Social Security in August, and I will also get a monthly interest payment from my retirement fund. It will be a lean budget, but doable.)

I got a letter from my Medicare Advantage provider telling me I can no longer pay my monthly premium from my Social Security check. Since I am not getting a Social Security check until August, this is not a surprise. Smile What is concerning is that this is the first communication I've received about paying, and there is no information about due dates, etc. I am a little worried about the company's administration, especially coupled with the hour-long conversation I had with them yesterday about my "lack" of medical coverage this past year. (Not so!) Ugh. Want this done.

I will send a check to the indicated payment address. I have the option to call and pay with a credit card, or to call and get a form to set up automatic payments, but I don't want to deal with their staff again. The person I spoke to yesterday seemed very nice and personable, but also didn't seem to know what he was doing. What has happened to customer service? It just doesn't seem to exist any more.

I emailed my insurance company yesterday and asked about a senior or retirement discount. My agent replied that I am eligible for a discount on my condo insurance, but not on my car, as I only have liability coverage now. However, if I get a new car someday, I will be eligible for a discount. Not sure how much my savings will be, but I'll certainly look for the discount when I get my condo insurance bill. Every little bit helps.

Looking forward to yet another free lunch on Friday -- another colleague leaving, another party. Soon I won't be able to rely on all these free food events. I wonder how retirement will impact my food bill? Positively, I hope, as I will have more time to plan and execute meals!

Just want to add that my mortgage has finally slipped under the $70K mark! Once I get through these four lean years ahead (reminder: I am drawing spousal benefit now; will switch to full benefit at age 70), I'll go back to putting extra on the mortgage. Right now, anything extra will go into savings.

5 Responses to “Retirement Stuff”

  1. Rachael777 Says:

    I and maybe others looking at retirement costs would be very interested in your monthy income and expenses so we can see how you are 'doing it. Would you be able to share?

  2. CB in the City Says:

    I will -- but I am only working with estimates right now and I would rather wait to share until I have the real numbers. It will be August before everything is fully settled.

  3. Househopeful Says:

    I look forward to hearing about it in August then! I am always thinking about retirement! hehe

    August is a big month for both of us as I will be embarking on having a little one to be responsible for! Wishing us both luck Smile

  4. CB in the City Says:

    Having an August birthday is great! No other distracting holidays, and you get to be a Leo! Good luck to you and your baby.

  5. FrugalTexan75 Says:

    The MA place doesn't sound like it's being run very well. Hope you're able to get the answers you need.

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