Ep. 204: Kira

This week, we met Kira.

Kira’s main concerns, in her own words: “My situation is a little unusual. My plan is to sell our house in the next year and move to Nashville, where my daughter lives. We plan to buy a house that will cost us about $800-1,000/month. $5,500 of our income is constant (we think! Our retirement income is from a multi-employer union, so it could be cut at any time) and I plan to work per diem to pay for my health insurance and continue to fund retirement. How much do I need to continue to add to retirement/year?

Also, my pension was frozen December 2014  and when I leave my job, I have the option to take a lump sum of approximately $150,934 (plus accrued interest) or get annuity which is supposed to be about $2,010/month when I turn 65. One factor that concerns me is that my hospital I work for is struggling financially and I am concerned that my annuity may be lost. I have been struggling with the best option.”

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