Retirement Perspectives

I can’t wait to be investing again in mutual funds… it’s so sad to see all my accounts practically liquid right now earning nada… but it will be better this way in the long run as i will be able to simplify accounts on my terms, and when my new last name is already in place… I’d rather have $3,000.00 of new money and open an account online myself, than deal with people over the phone and waiting for things to go through…

End of 2010 Balance: $36,904.90 | New balance: $37,330.54
Additional Contributions since 2010: $402.42 (including pension deductions)
Non Pension Growth for 2011: $23.22 (0.11%)

Discontinued 401a Account: Makes up 2.77 % of my Retirement
$1,033.06/$898.62 invested. (New contributions suspended.) Target Date

Discontinued 457 Account: Makes up 2.77% of my Retirement
$1,035.20 (Earns pennies a week and I can’t move the $$$$ until I quit.)

ING DIRECT CD Roth IRA: Makes up 51.92% of my portfolio
$19,382.99/$19,000.00

Vanguard Account (I need $3k to open one) .67% of my portfolio
$250.00… $2,750.00 to go

Pension: Approximately 41.87% of my portfolio
If I quit tomorrow, I’d just have the cash in the account (earning an automatic 6% until withdrawn)… or I could wait and pull a pension at 55.

Total Cash in the Account for the lump sum option: $15,629.29

• If I quit tomorrow and didn’t work another day in my life, at 55 I’d get $6,634.10 a year or $552.84 a month (before taxes) if I took an unmodified distribution… So best to keep working…

Assuming I work and retire with 38 years of service, and am at LEAST 55 when I retire, I’d probably go for option 2… (take less at retirement to insure a surviving spouse gets money too).
• Option 2: my spouse and I would get $2,758 a month… if I croak first, hubby gets $2,758.00 a month till he dies… if he dies first, I’d get $3,195.83 (the unmodified amount) a month till I die.

Excluding my pension, all my other retirement income totals $21,701.25