Retirement Countdown 2025

This week I plan to notify my employer that I will be retiring. I've elected to give 3 month's notice as my employer's retirement office asked that we submit our notice to start processing our retirement paperwork. I think this notice is more than generous to allow my office to locate or provide contingency plans for my upcoming departure.  Sadly, as I prepare for this decision to notify my employer, a few outlying events have happened that may affect my employer, but not necessarily me. One, being that my employer relies on heavy federal funding to continue with services and medical studies in the coming year(s), they've decided to implement a hiring freeze. So, no replacement for my position but probably hire a temporary employee in the meantime. I don't know how long a hiring freeze will be in place, but I feel that will be an inconvenience. Two, in light of the economy, my speculation will be that we may head into a recession. People will keep a close eye on the...

Recently, I took the time to look at my options and outcomes on when to collect social security benefits when retiring. I've been curios off and on over the years on how much I would be entitled upon retiring.  As I get closer to retiring, there are some things to consider when making that important decision.  ELIGIBILITY REQUIREMENTS  Social security taxes are taken out of your paycheck so you can get a monthly benefit in your 60s. Although, these days, quite a few people are considering retirement before 60 but not taking retirement benefits until full retirement age. On the  https://www.ssa.gov/retirement/eligibility  website, it states the following:  You're eligible if:  You're 62 or older  You've worked and paid Social Security taxes for 10 years or more  They keep track of how many years you've paid social security taxes.  Check your Social Security account to see if you're eligible.  PLAN FOR RETIREMENT You can plan for mon...