My wife and I have begun looking into this topic in the last year. She hits 30 years next school year. I will in 2026-27. In Arizona, teachers can “double dip” by starting to collect your pension and still go back to work at a slightly reduced year-to-year contract. I’m having a tough time convincing her to “double dip” while I finish up my career, as we could easily bank that extra money to help pay for a good portion of health insurance until Medicare kicks in at age 65(???) or whatever age it ends up being.
But she wants out. She is so frustrated with the system and the politics of a low-income school that seems to be more and more focused on test scores while behavior (student and parent) has gone down the toilet. She’s already promised a colleague that she’ll do year 31 because that colleague’s daughter will be in her class. So I keep asking her why not at least do one year of double-dipping, you know? It’s better than nothing! But I’ve kind of given up battling with her over the other couple of years.
Past that, I think there’s a very good chance that we’ll just stay here in Arizona. If we somehow won the lottery (big problem: you gotta play to win, and we don’t play) then we would probably buy a place in Wisconsin and do the snow bird thing. But otherwise, my wife is officially done with snow, cold, mosquitoes, humidity, severe storms, and other Wisconsin things. I’m pretty sure I’d be fine with it, but whatever. Happy wife = happy life, right? The extreme heat isn’t that big of a deal, it really isn’t. So that’s not a problem. The mild winters are great and, where we live, we’re good for one or two days each winter that we’ll get snow—although we’ve actually had a couple of snowpacalypse events for our area in the last three years. But it was all gone in a day or two (it was so funny watching the natives try to deal with it!)
We’ve got many investments to go along with our pensions so we should be fine with retiring at 55, although I wish the markets were better. Thankfully, we won’t be touching those investments until we’re well in our sixties—at least that’s the plan—so hopefully things will turn around. I AM concerned with social security and whether or not it will exist by the time we’re 67 (or, again, whatever age it changes to) but I don’t want to make it any more political than that.
I am thankful that the light at the end of the tunnel is getting bigger and brighter. I never thought it was going to happen.