Another weekend and another time the maid didn't show up! Of course she didn't...we don't have a maid. But a gal can dream, right?
We took down our Christmas decorations and put things away yesterday. After church and brunch today, we went to work of cleaning house. I think the house looks bigger after we put away our decorations. I usually put some things away when I set Christmas stuff out. Then when we put away the Christmas decorations, I pull out some of the stuff and it is like having something new. I know, I'm weird.
We had a small ham for Christmas dinner and supper. Today it made an appearance chopped up in scrambled eggs for brunch and tonight, hopefully it will have its final and encore performance in sandwiches. I'm not a huge ham lover -- I can eat it and enjoy it the first time or two. But, I tire of it easily, yet I am too frugal to throw it away. I've tried freezing it before and it was OK in ham and beans, but nothing to write home about.
We had a delightful Christmas and like so many of you, everything was paid for in cash. Well, sort of. I did put some things on my Discover card to get the extra cash back, but paid it off when the bill came.
Yesterday supposedly was to be a big shopping day. We didn't participate and help the economy. There really isn't anything we needed. DH picked out what he wanted for Christmas and I picked out some of what I wanted and he chose well for the rest. I'm indeed blessed.
The countdown continues for retirement. I have 95 school days left barring any snow days. Part of me is very excited and part of me is scared. My pension will be smaller than my current salary. I am not eligible for Social Security since I am a teacher in Illinois. I keep telling myself that with no outstanding debt and the fact we are careful with our money, there shouldn't be any problems.
I do have a question though. I plan to retire in May. Do I have to fully fund my Roth IRA before I retire, or do I have the rest of the year to fund it?
Hope you all have a wonderful prosperous new year!
Why doesn't that maid ever show up?
December 27th, 2015 at 10:14 pm
December 27th, 2015 at 10:26 pm 1451255202
I'm no tax expert, but I would think that as long as you have more earned income in tax year 2016 than what you put in the ROTH, you can take as long as you need to to fund it. (at least til April 2017)
December 27th, 2015 at 11:19 pm 1451258378
While not officially 'retired' I've worked only a few hours in 2015 and seem to have unintentionally reduced spending witd I have had major hout changing lifestyle. I'm surprised since utilities and some food prices have had significant increases. I hope you'll set aside concerns and enjoy making plans for summer as a retiree and new direction.
December 28th, 2015 at 12:13 am 1451261605
December 28th, 2015 at 12:37 am 1451263042
December 28th, 2015 at 12:58 am 1451264310
I think your husband is retired. But a spouse can also invest in a Roth or IRA as long as the working spouse has enough income to equal the total contributions for the couple. For example I don't have earned income, but my husband makes enough in income so I can max my Roth IRA.
My maid didn't come either! But I did get clean sheets on my daughter's beds. The rest will get done eventually. We will keep our trees up a bit longer.
December 28th, 2015 at 01:08 am 1451264939
December 28th, 2015 at 08:03 am 1451289784
December 28th, 2015 at 01:28 pm 1451309309
I can't answer your Roth IRA question, but having retired last year, I would advise that you try to get everything done before your last day, just in case. Sounds like CCF knows a little more than me, however!
When you find that maid, please send her over here. She's really been irresponsible lately!
December 28th, 2015 at 02:36 pm 1451313382
Congrats on retirement!
December 28th, 2015 at 10:14 pm 1451340885
Credit card free: I didn't know that about my husband being retired and a Roth. Good to know.
I called my financial advisor today and he said I have all year to fund it, so you all were spot on! Thanks!