Saturday, September 27, 2008

Update on my Quitting Date

I attended a pre-retirement seminar for my work and discovered that there is no real benefit to staying to the ten year mark. I can quit at age 50 and receive a small monthly paycheck and have medical and dental coverage, or I can stay until the ten year mark and wait to collect a bigger paycheck at 62, but have to suspend the medical and dental benefits until then as well. So....the time value of money and the cost of medical benefits means that the small paycheck plus the medical and dental benefits FOR THE REST OF MY LIFE at age 50 is a pretty good deal. That moves my quitting date up to Dec of 2009. I had better get on the ball and create my passive income streams. I am excited about the change on the horizon, investigating my options for doing something else, like teaching English abroad, or becoming a tour guide.
In other news, I finally listed the eight hundred pound gorilla on back (aka my vacation home) with a realtor. Any remaining equity will go to the realtors at this point, but I am going for debt relief. I can then spend the money I was putting into that on paying down the credit cards and getting this financial plan off the ground. I am determined to be financially free and I will make it happen. Stay tuned.