The aroma of baking brownies in the air

[ksmith]

Well, that's what they get for trying to hide in the oven.

Just kidding. These brownies are of the chocolate-cakey kind. Should taste good tomorrow with some vanilla ice cream and hot fudge.

And I wonder why I can't lose that last 20 pounds.

Much to be done this weekend. Yardwork. Driving the stake into my taxes and sending them off. Grocery shopping. Maybe even some writing.

The wireless mouse works well so far. Didn't need to download any drivers from the Kensington site, but that's always a possibility if the thing acts up. I'm able to cut/paste photos again, which comes in handy now that I'm combing the 'net for icons.

In the day job hunt, I still have three feelers outstanding. A co-worker who's also looking told me that there could be multiple reasons why I haven't heard anything yet. Yes, it could be because I made the first cut, but it could also be because they cancelled the job--they don't have to tell you when they do that. There's also the possibility that they just haven't let me know that I'm out of the running. That would be against their rules, but I guess it happens.

I went to the benefits website today and played with the retirement income generator. If I want to retire in 4 1/2 years, I won't have anywhere near the amount of money the generator tells me I should. I'm also concerned that my company will go the way of so many others and cut back or eliminate health insurance for retirees. That will throw me into the quest for affordable health care insurance, which seems a constant hunt for many people. Given that I do have a history of on occasion holding my nose and jumping into the deep end of the pool, I may not let this hold me back. I have 4 1/2 years to make a go of the writing, or plan a second career. I would really like to know what it feels like to enjoy my job.

Comments

Retirement

[(Anonymous)]

Here's a secret on how to prepare: Save more. Nah, it isn't that saving more will really help with the amount of money the generator says you need - frankly, with a time frame of four and half years, even if you had pots of money to put aside, the Federal limits on retirement contributions are going to keep you from adding enough to your retirement fund to really change the numbers.

The reason you want to save more is that every bit of extra money you save is month is income you don't have to replace.

Think about it. If you bring home $2000 a month, but are sticking $500 of that into savings, then what you're actually living on is $1500, and *that's* the only income you need to replace. If you're serious about making the big jump and worried about the numbers that you're seeing when you run the retirement income generator, set up a money market fund somewhere, shave your expenses to the bone, and put all the extra in the money market. After four and a half years, you'll have both an emergency fund and you'll be ready for the lean lifestyle that you might be stepping into.

(Sorry 'bout that, but you tripped my "I Are A Retirement Perfessional" trigger).

--
Amy

Re: Retirement

[kristine-smith.livejournal.com]

I tripped Amy's trigger...and lived.

I know I need to save more. I just wasn't sure how to do that. I thought about paying down the house. I'm close to the upper limit for 401(k) contributions, I think--upper limit is 18% of gross, and I put in 17%.

I'm bad at short-term saving, which will make this a challenge. I plan to pay down some debt this year, which will mean that by next January I will be able to salt away more.

I should say that I fully expect to have to work. But I would be able to work for a lower wage at something I enjoy and use the retirement income to fill in the gap.

Re: Retirement

[(Anonymous)]

The upper limit on personal contributions to a 401(k) is a flat $13,000 in 2004 (it'll go to $14,000 next year) - the percentage limit is something your company has put into their plan, not something the government requires. Of course, the *overall* maximum is $41,000 this year, so all you need to do is talk your company into putting an extra $28,000 or so into your account this year, and retirement in four and half years will look much brighter.....

(yes, I do have some professors I have to keep an eye on, because their contribution plus the university's contribution could go beyond the overall maximum. See, there are problems with making pots of money that you weren't even aware of! Aren't you glad that you don't have to worry about things like 402(g) limits?)
--
Amy

Re: Retirement

[kristine-smith.livejournal.com]

I'm not sure how the percentage relates to the allowable dollar amount. I'm in no danger of topping out anyway--saving money is all well and good, but I still need to do things like pay the mortgage.

I've sometimes dreamt of accidentally receiving our CEO's check for a single pay period, which I'm fairly certain is greater than my annual gross salary. They'd probably make me give it back, however, and it's not enough money to make fleeing the country worthwhile.

The money market account sounds like a good idea. Something that can't crash/burn if the market decides to go wonky again.