Yes, but I would not have gone to a private university and would have taken advantage of my in-state scholarships to some of the public universities.
I think you have to change your perspective. You can retire at 50, pull your pension, and you can still work another job (PT or FT) and not need to make anything close to what you currently are.
Agree with someone else that when you retire at 50, plan on retiring TO something. In the next several years, take time to explore your interests and passions. Also, research what other former law enforcement officers who retire are doing (usually it’s one of two camps - retire and do something completely unrelated to LE or retire and do something as a consultant, a trainer, security (school security officer is a big thing), etc.)
Agreed. Many people are missing OP’s comment that OP is a cop. That detail is extremely important in this conversation.
Don’t quote this because I may not be 100% spot on with the details, but I know in IL the Tier 1 Police Pension doesn’t get COLA until 55 if you retire at 50. I believe this is due to the research and data the pension system which shows that a certain amount of retired officers will pass away in those 5 years.
Your wife may also not want to do life without you should something happen to you on the job in those additional 10 years.
It definitely changes perspective when you have first hand knowledge. I just responded to another comment saying similar. My dad retired at 50 and died suddenly at 53. If he had waited any longer, he wouldn’t have been able to enjoy any of it!
Especially as a cop, I would make sure you’re getting your annual physicals and watching your health as you get closer to 50. I’d also research the statistics on police officers and projected life expectancies, etc., as the pension systems use this information, too.
Would you still be on patrol and out on the streets in 10 years? Would you be in administration? What type of municipality are you in? What types of crimes in the community does your department primarily deal with? These all are factors that can affect your mental and physical state, and the potential danger you face daily.
Also, consider options like retiring from the PD at 50 and pulling your pension, and then working part-time or full-time in a different job or career field to still pull in some additional income (while continuing to give yourself something to do and a purpose). As I’m sure you’re aware, not many officers retire at 50 and simply do nothing.
As an fyi, something to consider - my dad retired at 50 after 24 years as a police officer. He passed suddenly at age 53 from a heart attack. Even though it was horrible that he only got to enjoy a short bit of the retirement he worked so hard for, thank god he even got to enjoy a little of his retirement instead of /none/ of it. As his child, knowing he got those 2.5 years has helped me deal with the overall trauma of suddenly losing him. If he still had been on the job I think it would have been devastating in a whole different way.
I used recreational sit in kayaks growing up. As an adult, I bought a sit in kayak because I figured it would be great for multiple purposes. My boyfriend bought a sit on top one, and he predominately uses it for fishing. I frequently find that be can access things on his kayak faster than me, and things actually stay drier on his than when I’m fumbling around with them in mine. If I got another one, I’d go for a sit on top one.
Another reason I bought a sit in kayak was that it’s lighter. However, with all the accessories available, it wouldn’t be hard to transition to the sit on top one with a few extra purchases.
Non-solicited advice:
Please use your PTO. I’m a huge advocate of this after my “healthy” 29-year-old husband passed away suddenly in his sleep a few years ago. Take the time to be your family, friends, alone, or even if you take it to hang out with your pet.
Your company will continue forward, and will figure it out. They’re a business / organization (even if you’re in nonprofit or government).
You get ONE life, and none of us know how long ours will be. Take the PTO. It may feel uncomfortable at first, but once you get used to taking a few days, I think you’ll be surprised how nice it feels.
With the assumption you make it to retirement, and if you do, that you’re in good health to enjoy it.
Maybe “grace”? Extend grace, give grace, something along those lines.
Also - what type of government job (local, county, state, federal) out of curiosity? They can differ greatly.
We just bought a 2024 Pro4x after my boyfriend did a LOT of research over several years. He has twin 13 year olds who say the back seat isn’t bad and they’re fine with it. We haven’t taken the truck on a long trip yet, but usually the twins would tell us even for short trips if it was uncomfortable (lol, preteens/teenagers and their unfiltered opinions).
The back seat isn’t able to recline and is almost vertical, but it must be decently comfortable because they like the Pro4X (and that’s after they’ve enjoyed my 2023 Honda CRV Sport Touring hybrid with a backseat that reclines A LOT.)
This is the epitome of my version of cozy! Need a rainy day, a soft blanket, my dog, one of those books, and a cup of tea - you’d have to pry me out of there. Lovely!
I work in local government in IL, and good finance workers are in high demand - a lot of openings because not as many people go into municipal government with their finance degrees! There are some well paying finance jobs with good benefits, PTO, retirement plans etc., and you can find places and create good work-life balances, too!
What type of government job? What level - fed, state, or local? I was actually going to suggest looking into local government finance jobs as there can be a good mix of salary, pto, benefits, and retirement accounts/pension.
Local government in my area (Chicagoland) is actually severely in need of Finance people.
Also - keep in mind for local government that each one may be very different from the next depending on size, the board of trustees, the village/city manager/administrator, the financial state of the municipality, etc. One place I worked at gave the 2.5% cola each year I was there, and a different one just gave me more as a combination of COLA/step system (merit).
Feel free to DM if you have any more questions.
Caveat - not biased. Currently work in local government, HOWEVER - jumped around a lot in my 20s. Worked for state government for just under 2 years - left and worked in the sports industry and then corporate payroll/tech, only to end up in local government and really enjoying it. Studied Crim & Sociology in Undergrad, originally wanted to go to Law School, didn’t want to add more loans during the recession times after 2010, worked for about 8 years in those various career fields, then went back to school PT online while working full-time to get my MPA.
I actually just got a nice, thicker white cotton crew neck short sleeve t-shirt from JC Penney - I think either St. John’s Bay or a.n.a. brand.
I would definitely contact your HR person or whoever at the company gave you the benefit paperwork to double check whether or not they provide you with anything towards your HSA account if you elect the HDHP / HSA.
A lot of companies aren’t always good at communicating that they contribute money to the HSA if you elect it. They assume you heard they do. Usually if employees choose the HDHP / HSA it costs the company less money in premiums, so they provide the employee with a contribution to the HSA as an incentive.
However, like others are saying, if they don’t contribute much, or anything, the PPO may be the way to go. A lot of people like the HDHP / HSA, but not all plans are created equal.
‘23 ST Hybrid AWD with 34K. No issues here so far - fingers crossed!
Great job taking care of yourself!
I just bought something for my little cousin. Cute shop!
Ah yes, thanks! The word was alluding me.
Identify this bird outside Nashville.
Ornithology