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We have withdrawn $6,000 from the account in this first year of retirement too, which means it grew $11,916.10 in interest this past 12 months.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. ;-)
Sluggy
