I just retired at 58 With 25 years service. Took social security leveling option 4. How much will I get total in social security and pension after I turn 62 ?
If your total pension would be X and your Social Security would be Y at age 62, then you will receive X+Y now ... and after you turn 62, that amount will remain unchanged ... today the state will pay you X+Y ... and after you turn 62, the state will only pay you X and Social Security will pay you Y. This may arrive in two checks, but it will be the same dollar figure.
However, a personal finance guru (a math teacher) would advise you strongly not to take this option. To receive this "benefit", you'll have to accept a lower pension FOR THE REST OF YOUR LIFE so that you can receive that Social Security benefit for -- did you say you're 58? -- four years. Unless you're in poor health, it's a bad trade.
My best suggestion: Go ahead and start collecting your pension now, but get a part-time job until you're 62. This will allow you to receive the maximum pension coming to you (as an early retiree) ... for the rest of your life ... and then when you turn 62 you can quit the part-time job and Social Security will make up the difference.
I also suggest you go see a professional who specializes in Social Security. Find out whether collecting at 62 (earliest possible date, but -- again -- you're accepting a lower amount in exchange for collecting early) is your best bet. If you are married, Social Security really becomes tricky, and if you don't make the right choices initially, you're locked into them for the rest of your life.
Personally, I'm concerned that you're taking the I'll-accept-less-but-pay-me-early choice in TWO ARENAS. I'm not sure it's a wise choice.
1. I am debt free and can live on it if I have to 2. Men in my family don't live long usually 3. I have to get out - I am damaging my health staying in this profession 4. I want to get it while I can - things are so volatile in many arenas, who knows what the future hold.
Still planning to work part time somewhere for a little extra cash.
Advice and info is good - but don't judge people who make the Option 4 decision without knowing all the circumstances.
One thing lost in many of these discus...See MoreAgree with you 100&37; and good for you for taking care of yourself and getting out. Doesn't matter if it is mid year- do what's best for you and your family. Unemployment nationally is really low now at 5&37; and the private sector values the skills and work ethic of ex-teachers.
One thing lost in many of these discussions is the need to address all of the gutless and abusive administrators who have oppressed many of us over the years. Why don't (didn't) principals and superintendents get together and support us? Issue a statewide statement against what is being done? They have a lot to answer for, in my opinion. Along with an aparthetic public, these deeply oppressive and exploitive administrators are a cancer within our schools.
On 11/13/15, North Carolina sucks wrote: > I can't wait to get out.. 13 and done.. I will probably > leave midyear. I didn't want to do that but I have > recently had an offer and can't wait until summer. NC has > done nothing but make > teaching a miserable experience. Low pay, poor benefits, > a never > ending workload, powerless to suspended disruptive > students, powerless to run my class, and tired of the > lunatic fringe in Raleigh. A student pushed a teacher > last week in was in the classroom the next day. I have > been cursed at by parents and students and watched > administration do nothing. NC deserves nothing from us. > > > 11/11/15, Out of teaching, and the sun is shining once > more wrote: >> On 11/11/15, Totallyagree wrote: >>> On 11/11/15, Tired wrote: >>>> Will the workload ever subside so we can go back to >>>> teaching. My guess is NO. Mounds of paperwork, data, >>> data, >>>> data. Too much data and paperwork and not enough >>> teaching. >>>> Has anyone ever wonder who looks over the mounds of >>>> paperwork. Just think how much one teacher generates and >>>> how in the world could someone look over ALL of this >>>> for every teacher. It gets more stupid every year. >>>> Keep >>> adding >>>> more stuff but never taking anything away. Classes on >>>> how to teach, grade use this use that but never any >>>> help just more work. >>> >>> >>> Yes! There have been a few days in the past few weeks where >>> I actually have been dizzy from the pace/stress/lack of >>> food/water. Just to survive each day I have to make >>> each second count. I often literally have to run across >>> the campus (our school has multiple buildings) to make >>> it to the next task/meeting/class on time. >>> >>> I have heard of people dying of exhaustion and recently >>> I have wondered if it might actually happen to me. >>> >>> To top it off, sometimes I look around and am surprised >>> that there are children all over the school... actual >>> human children. What we are being forced to do is not >>> helping them at all. It is hurting them. You can't have >>> a coherent arc of learning because it is so fragmented >>> by directives. >> >> >> The workload won't end because you are no longer true >> teachers, but cogs in a corporate machine. Collect your >> data and do as you are told, serfs!! >> >> As the economy is now much improved over the last few years, >> unless you are a few years out from retirement, QUIT. >> You owe it to yourselves and your families. Leave. Life >> is short!!!
DOn 11/11/15, Totallyagree wrote: > On 11/11/15, Tired wrote: >> Will the workload ever subside so we can go back to >> teaching. My guess is NO. Mounds of paperwork, data, > data, >> data. Too much data and paperwork and not enough > teaching. >> Has anyone ever wonder who looks over the mounds of >> paperwork...See MoreOn 11/11/15, Totallyagree wrote: > On 11/11/15, Tired wrote: >> Will the workload ever subside so we can go back to >> teaching. My guess is NO. Mounds of paperwork, data, > data, >> data. Too much data and paperwork and not enough > teaching. >> Has anyone ever wonder who looks over the mounds of >> paperwork. Just think how much one teacher generates and >> how in the world could someone look over ALL of this for >> every teacher. It gets more stupid every year. Keep > adding >> more stuff but never taking anything away. Classes on how >> to teach, grade use this use that but never any help just >> more work. > > > Yes! There have been a few days in the past few weeks where > I actually have been dizzy from the pace/stress/lack of > food/water. Just to survive each day I have to make each > second count. I often literally have to run across the > campus (our school has multiple buildings) to make it to > the next task/meeting/class on time. > > I have heard of people dying of exhaustion and recently I > have wondered if it might actually happen to me. > > To top it off, sometimes I look around and am surprised > that there are children all over the school... actual human > children. What we are being forced to do is not helping > them at all. It is hurting them. You can't have a > coherent arc of learning because it is so fragmented by > directives.
On 11/02/15, Nadia wrote: > I have a question about salaries in the CMS and York > county (Rock hill/Ft Mill)... I'm totally ignorant to how the > steps work for you guys. Are the steps accurate? > Meaning, If I have 14 years experience (I know florida > and NC/SC have reciprocity regarding my cert) am I > going to be on step 14? or is it like it is here in Miami- > Dade, where we're about 3 steps behind where we > should be because of budget? Thanks in advance!
On 11/02/15, North Carolina is Awful!! wrote: > I would look into GA or SC. North Carolina will not except > your masters. NC has a year 0. So if you are on year 14, > you will be paid on year 13. You only move up in steps > every 5 years. This state does not count for inflation. If > you need to insure a child or spouse it is very expensive. > Your health insurance will only be 70/30. You do not > receive dental or eye insurance. Teachers are looking to > leave NC, not come here. Good luck... > > On 11/02/15, Nadia wrote: >> I have a question about salaries in the CMS and York >> county (Rock hill/Ft Mill)... I'm totally ignorant to how > the >> steps work for you guys. Are the steps accurate? >> Meaning, If I have 14 years experience (I know florida >> and NC/SC have reciprocity regarding my cert) am I >> going to be on step 14? or is it like it is here in > Miami- >> Dade, where we're about 3 steps behind where we >> should be because of budget? Thanks in advance!
old headOn 10/30/15, MikeBSC2000 wrote: > Does anyone know the effective date for back pay w > regards to raises? > > I've been under the impression it was July 1.
Raise? Glad you're getting one - I'm certainly not.
Mike BSC2000On 10/30/15, old head wrote: > On 10/30/15, MikeBSC2000 wrote: >> Does anyone know the effective date for back pay w >> regards to raises? >> >> I've been under the impression it was July 1. > > Raise? Glad you're getting one - I'm certainly not.
Well, if it makes you happy I wont get another for 5 yrs
Michigan is my home state too. It is still almost impossible to get a teaching job, especially in elementary. It probably will be forever. Even Detroit Public Schools doesn't have trouble recruiting.
That said: switching to a new field is the way to go. Good luck!
10/26/15, marx wrote: >> 10/25/15, ElemenTeacher wrote: >>> I'm six years in and this will be my last year. I can't >>> stand how the system is hurting us and the kids. I'm >>> hoping to move back to my home state of Michigan and >>> maybe a different profession all together. >>> >>> Can't wait to say goodbye to this state!! >>> >>> -ElemenTeacher > > Michigan is my home state too. It is still almost > impossible to get a teaching job, especially in > elementary. It probably will be forever. Even Detroit > Public Schools doesn't have trouble recruiting. > > That said: switching to a new field is the way to go. > Good luck! >
On 10/26/15, Beth Special Needs wrote: > That is my fear! I will begin the renewal process next year. I'm > in my 31st year and I don't want to take a pay cut for the last > however many more years I may work. > > > On 10/25/15, joan wrote:> failed my renewal because I did not > show enough >> professional growth! 25 successful years and I'm still >> not good enough! Pay cut.....ugh
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Go back to school and do something else. I know it cos...See MoreIt would strike me that it is time to do something else. I know people in IT who started out making 40K and five years later are pushing six figures. Teachers? Teachers are MAYBE making a couple grand more than their starting salary. Teaching is not a profession anymore...
Go back to school and do something else. I know it costs money (loans) and time, but it's that or you live in poverty forever.
On 10/15/15, North Carolina sucks wrote: > I am worried about paying the bills each month.. Without > out a pay > increase for inflation and the increased cost of health insurance > none of this really matters. > > 10/14/15, Steve wrote: >> On 10/14/15, North Carolina sucks wrote: >>> Unless you're a new teacher, who care? 7/10 teachers >>> will >> get >>> nothing. The 750 one time bonus will be taxed 40&37;. It >>> will >> be >>> cut almost in half >> >> Yeah 750 stinks. Don't confuse tax withheld and tax you >> pay. If you're married you're likely will pay 15&37; to the >> Feds. Then 7.65 to ss and Medicare combined and 5.75 to >> the state. 28.4&37; is total. If single, go ahead and give >> 25&37; to the Feds.
10/16/15, do something else wrote: > It would strike me that it is time to do something else. I > know people in IT who started out making 40K and five > years later are pushing six figures. Teachers? Teachers > are MAYBE making a couple grand more than their starting > salary. Teaching is not a profession anymore... > > Go back to school and do something else. I know it costs > money (loans) and time, but it's that or you live in > poverty forever. > > On 10/15/15, North Carolina sucks wrote: >> I am worried about paying the bills each month.. Without >> out a > pay >> increase for inflation and the increased cost of health > insurance >> none of this really matters. >> >> 10/14/15, Steve wrote: >>> On 10/14/15, North Carolina sucks wrote: >>>> Unless you're a new teacher, who care? 7/10 teachers >>>> will >>> get >>>> nothing. The 750 one time bonus will be taxed 40&37;. It >>>> will >>> be >>>> cut almost in half >>> >>> Yeah 750 stinks. Don't confuse tax withheld and tax you >>> pay. If you're married you're likely will pay 15&37; to the >>> Feds. Then 7.65 to ss and Medicare combined and 5.75 to >>> the state. 28.4&37; is total. If single, go ahead and give >>> 25&37; to the Feds.
08/15, Tired of being Abused in NC wrote: > where could i work? i'm a first year teacher and this pay > raise is not enough. I'm not married nor have a boyfriend > who could help or support me... I live with my parents which > isn't cute either but thankful for not having to pay > rent..... BUt i need extra money or need to get out of this > profession period.. and find another job that deals with > children but i don't want to keep job switching as i have in > the past. > > any suggestions where i could work to supplement my > income??????????
> On 11/22/15, amazed wrote:
>> The general assembly will reward the teacher
>>> that exceed expected growth with huge sums of cash
>>> someday. That's why they cap pay at 50K
>>
>> !!!!!! Gee monetti - what planet are you living on?! LOL
>
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