Category: The Day Job

Apr 28, 2014
By Michael Rupured
Comments Off on Countdown to Retirement

Countdown to Retirement

To celebrate Financial Literacy Month, my regular Monday posts in April have focused on my experience planning for my looming retirement. For most of my career, retiring has been an abstract concept — something far, far away. But now that I’m pushing sixty, the time has come to get real about where, when, and how I’ll retire. Where is easy. I love Athens for the mild winters and all the gorgeous, fragrant plants that thrive here. Knowing I’d probably die in my next house, the low-maintenance design, stair-free floor plan, and tiny yard heavily influenced my decision to buy my current residence. Frankly, at this stage of the game, I’d rather die than face another move. When I got serious about …

Apr 21, 2014
By Michael Rupured

My Retirement Expenses

Welcome to the third of four April posts about my retirement planning experience in honor of Financial Literacy Month. I wrote about my preparations for retirement over the years in the first post, and in the second, the sources of income I expect to receive in retirement. Now I turn to my retirement expenses. Figuring out future living expenses is a guessing game. I won’t need to replace my current income — rules of thumb say to plan to live on twenty to twenty-five percent less than preretirement income. Travel and other pursuits could push expenses higher. My life won’t change much, so I expect my cost of living will be more or less the same as now. Inflation is another question mark. How fast …

Apr 14, 2014
By Michael Rupured
Comments Off on My Retirement Income

My Retirement Income

Last week I kicked off a four-part series about my retirement planning experience. I’m close enough to retiring to get serious about picking a date. Despite the reckless spending of my youth and some stupid decisions along the way, sticking with the plan cut my retirement age from seventy to sixty-five. I made a date with my financial planner to take a look at a realistic timeframe. Before our appointment, I tried out different scenarios with a retirement calculator. If you’ve never played with one of these planning tools, you should. The results, although just estimates, give you an idea of where you are, when retirement might be possible, and things you can do to move your retirement date forward. My …

Apr 07, 2014
By Michael Rupured

Thinking about Retirement

I got my first steady job in the summer of 1972 at an ice-cream store in a brand new shopping mall. I was fourteen. Except for a month or two in 1977 after my employer went out of business, I’ve worked at least one job ever since. Those early positions were more character-building than income-producing. Saving for retirement — or for any purpose — never crossed my mind. I spent every penny and then some, relying on credit to make up the difference. Some of my earlier jobs required participation in a retirement plan. I minimized my contributions and cashed in whenever I changed jobs, paying both the ten percent penalty and the taxes on the meager sum I’d still managed …

Nov 19, 2011
By Michael Rupured

Educator of the Year

Regular readers know I spent most of the past week at the Association for Financial Counseling and Planning Education conference in Jacksonville, Florida.  I’ve been a  member since 1989, spent several years on the  Board of Directors, and served as President in 2000.  It’s a great group of which I am proud to be a member. Yesterday at the awards luncheon, I received the Mary Ellen Edmondson Educator of the Year Award.  I thought those of you who know me as a writer, dieter, and exerciser might enjoy learning a bit more about my day job. For your reading enjoyment, here is the write-up that appeared in the program for the awards luncheon. As major professor and mentor at the …

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