I am 53 and as of about a year ago I had zero saved for retirement, I am a school teacher so would like to retire from that within 10 years..
I have a teachers pension from Illinois that will earn me around $1000 a month, now teaching in Tennessee and if I teach 10 years here at my current job, will get me about $500 a month.. due to the windfall provision my Social Security should be around $1100 per month..
Also I have 80 acres of quality farmland in a trust that will give me about $18K a year once property taxes are paid..
Within the last year I have become more active in saving for retirement.. Maxed out by Roth in 2021 so about $7K there and currently putting 20% into my Roth and the state adds 5%, so thats about $14K a year going in there.. Not sure If I can afford putting 20% into the 401K and $583 a month into my Roth, but going to try..
I do not own a house, live with my GF and the house is in her name.. Post retirement I plan to keeping umpiring slow pitch softball if my body says thats ok, at current rate doing it 3 nights a week, thats about $1000 a month..
Overall, any thoughts on where I am at currently 10 years from retirement???
Submitted November 21, 2021 at 10:35AM by CivilEmu833 https://ift.tt/3xcMGNV
