Wednesday, July 18, 2018

Where the Money Stands....1 Year Into Retirement

This is what I envisioned before Hubs retired last year.

But we have pretty successfully navigated the waters of Retirement Year One.
Hubs has been retired one full year as of June 30th.

So it's time for a financial update at the one year mark.

Here is what the money breakdown was on July 1st of 2017......

* Pension account--This gives us an income stream of $3,173.13 per year.
* Retirement Savings
* Cash & Regular Savings
* HSA(Health Savings Account)
* RMSA(Medical Savings Account)
* Personal Days Payout(This was rolled into the Cash & Regular Savings after it was paid out July 2017.)
* Stock Account

And here is what the money breakdown is on July 1st of 2018.....

* Pension account--This gives us an income stream of $3,218.16 per year.  Taxes went down on this income stream in Feb. 2018 so we see $45.03 more per month than in July 2017.

* Retirement Savings--The total in that account is $5,916.10 more than what was in it on July 1st 2017.
We have withdrawn $6,000 from the account in this first year of retirement too, which means it grew $11,916.10 in interest this past 12 months.

* Cash & Regular Savings--$66,667.68 more in this pot than July 1st 2017.  The Personal Days were rolled into this, as well as the proceeds from selling the house in Louisiana, a federal tax return and some interest gains all account for this increase over July of 2017.

* HSA--This account is $2,321.40 less than July 2017.  Paying medical bill co-pays from this.

* RMSA--This account is $19,774.65 less than July 2017.  Paying healthcare premiums from this.

* Stock--Is worth $2,241.33 more than July 2017.  Stock went up a bit.

Overall we have $52,729.06 more in assets we can access on July 1st 2018 compared to July 1st 2017.(This doesn't count the pension account since it's a guaranteed income stream for life and not an account that can be liquidated if need be.)

Costs have been pretty stable here and no big financial emergencies have arisen so far.  We are living below our means, paying our bills, eating well, getting things taken care of and splurging a little.
No real travel yet but that's coming later this year.

I have calmed down about spending what we've built up over so many years.  It's still hard wrapping my head around spending down the money and I catch myself sometimes getting stressed but not as often as a year ago.

My life didn't change all that much when Hubs retired fully last July.  He's home more than I'd like(I had gotten use to having the house to myself most days)but we stay out of each other's hair.  He's got his routine and I've got mine.  He is considering doing some contract work for his former boss on an interim basis in the coming year.  I think he misses his work more than he lets on.

So that's about it.
Any questions, just ask. ;-)



  1. I appreciate your honesty, as we are retiring end of Sept. Well, DH is and I hope to. That is what we tell ourselves, because it is possible that I may have to get a job in our new state. Our NW is very similar to yours, so it gives me hope. This is a topic that is elusive among people we one talks about numbers. So thank you.

  2. I'm glad you have both survived the past year.

  3. Looks great, and it must be reassuring to know things are actually working out as/better than expected!

  4. Well done! I think it would be good for the Hubs to do some part time contract work. It would bring in a little extra income AND get him out of the house. Other than that, you are definitely a model for the retired life.

  5. Oh you are so kind, my friend. My hubby drives me crazy most days and I do think that they miss work.Well not the work part but the social part.

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  7. WOW! hope is there! My DH is talking of retiring in 1 year. What scares me the most is the health insurance cost. (He does have some health issues) Awesome that you willingly share your structure of finances!! It probably helps more people than you know. Watch OUT.......karma has a good thing for you around the corner ;-)

  8. congrats on a year of retirement! thats great that some of those accounts have increased. I find myself worrying if we'll have enough some days. its great reading how you've managed and appreciate that you share the numbers.

  9. I am truly impressed - you are one of the few people I know who actually did this retirement thing RIGHT - may we be as smart as you are from here on out and stop doing STUPID!!!!

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  11. Congrats! You and your husband did a great job planning. It looks like you can have your cake and eat it too. I wish more people were as well set as you.

  12. Well done. I hope the calming of amy fears meams more travel for you this year.


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