Mortality

Facing retirement, facing mortality.

I'm here to tell you, if you will be drawing a PERS retirement, you will face your own mortality. And whether you are analytical (that's me) or emotional, deciding how to draw your money is almost enough to be paralyzing.

How long do I think I will live? How important is it to me to leave something to the kids if I die early? Should I take part of the money as a annuity for stability, and the other part to have in my own bank -- so it is available for my estate -- and then, how well can I invest and draw on it?)

There are 13 options! I kid you not. Behind the scenes there were many more options that PERS had to calculate before they could show me only the highest value choices. And there's an additional choice which kind of doubles the choice: do I  want to "purchase" my waiting time? What?  Here's the deal:

The simple part, waiting time, refers to the fact the I was not eligible to join the retirement system until I had worked six months for the state. But at retirement I can buy back that waiting time based on what the contributions would have been, about $1,400 in my case (6% of my salary at that early time for my contribution, and whatever the state match was at the time).

The real deal, the real options, are Option 1, Option 2, Option 3, or total lump sum.

But wait, here are the extra variations within each:

Option 1, refund annuity, and option 15C.
Option 2, option 2A
Option 3, option 3A
Lump sum option 1, lump sum option 2, lump sum option 2A, lump sum option 3, lump sum option 3A, or total lump sum.

So did I want the highest amount, but it would completely stop when I die?
Did I want slightly (about 1%) less, so if there was any money left in the "annuity" part of my account it would be paid to my estate?
Should I take less (about 2% from the highest) for "15 Certain," meaning at least 15 years of payments to me or my estate?

Should I take a bunch less with one of the kids as a beneficiary to receive the same payment over their lifetime after I pass?
OR, I could do that with a little less which allows a contingency to recalculate if that kid passes before me?

Should I take an amount that is about 2% less than the highest amount, where a beneficiary receives (for his/her life) half the monthly amount I was getting? [well, that 2% reduction was based on Mike being the beneficiary; I'll bet it would be a bunch less if I named one of the kids]
Or a little less than this half-survivor thing, with an option to recalculate...

This might make more sense if I shared my estimates; sorry, I'm really not comfortable with doing so, but trust me, it was staggering.

Argh. I won't say which one I chose, but I finally said "Heck with it" and submitted my paperwork.

What's up?

You are so correct, I have not posted here in two months! I've been a little busy in other places, including a private blog I use to vent. This spot is supposed to be for positive, upbeat posts!

So I'm promising to give you, soon, an update on my visit to mortality!

What's that, you ask, a brush with death?  No, no, just the options to consider when completing the paperwork to draw my retirement. 

More later, I promise.

Gopher update

The score is Julie-3, gophers-3.  I have caught three gophers (well, technically 2.1), and I have set traps three times without catching any.  Last night was a new setting, but I think it will sit for a week before I can check it again.  Big, big storms coming through.

Guests at the 'new' house

Yesterday was a busy day with super guests.

BandN8plusKy!  Fun!  N8 had not been here yet, so we gave him the grand tour, including a walk around the back edges of the property.  He played Scout, seeing the holes for the field mice and pointing out signs of activity. Then he and B shoveled some gravel into the back of his truck. The gravel is destined for some perimeter of their chicken coop project. We also had some 5' metal stakes to donate to their anti-deer-in-the-garden project.  A bit of a challenge for N8 and I to get some OUT of the ground!  One broke when I was rocking it loose. Down went Julie on her bum.  With a squeak.

N8 also helped set our first mole/gopher trap. Update: I check the trap this afternoon and we got, ummm, at least part of one.  That's all I will describe because some of you dear readers are very sensitive sorts.

Our day also was designed around the OSU/Stanford football game starting at noon. Good friends Ed and Carol came from Salem - also their first time here, so more tours.  But a lot of food, TV, talk, more food, more TV, ending the afternoon on wine and chocolate chip cookies. Beavers lost. 

Carol had to get home to change out of her OSU shirt and into a Ducks shirt for their 7:30 game. A house divided.

A very good day. We are looking forward to future visits from them and more family and friends!

Ballot measure in Washington

My friends Paul and James live in Washington state.  February will mark 40 years that they have been partners.  I'm hoping R-74 will pass tomorrow so they can celebrate their milestone anniversary with a legal marriage!

And because Paul is in charge of his county's office of Marriage Licenses, he can get the first one in his county!

Burn baby burn

Yesterday was "Burn-The-Burn-Pile" day.

All.  Day.  Long.

I went out there at 8:00 a.m.  Came in a little after 4:00.

Sorry there are no before pictures but imagine the following.  In the middle of the pile are wood poles and, I think, railroad ties. The poles are from previous berry vines, about 6" in diameter and 6' long. Between the poles and ties I'm guessing about a dozen. Then throw in at the west side of the pile there are blackberry vines intertwined with weeds (some thistle, oh hooray).  At the east end are various yard clipping and leaves. On the north side was a bunch of crap: an "artistic ladder," some other wood things (like two lathed poles). 

Worst part was down into the lower northwest section.  I think the prior owner was doing some compost layers.  A pretty good job, really: some sod, layered with branch cuttings. But it didn't belong with the burn pile. Oh, and more berry vines roaming through the mess.

So now we will start a new pile.

More storage

Reconfiguring the house for proper storage, part 4 (or five or six or something):

Today was putting up some storage in the garage.  The previous owner had two flimsy "ClosetMaid" wire racks that are intended for "linen storage."  Interpretation: linen storage means light weight, a couple of towels! So I took one down, and I'm so sorry there's not a 'before' picture. It is all packaged up and ready to go to either ReStore or Goodwill.

The replacement is Rubbermaid's Fastrack system, supposed to hold some ginormous poundage. Not difficult to install, except I've been running into problems with any installation here because the wood is old enough to have to go back and make bigger pre-drills than the directions call for.

One finished rack:

There are five shelves, and room on the right side to add a hanging cabinet or tool hangers or ??? The step ladder in the picture goes back out to the shop. A 4' long rack will go on the other side of the garage (The racks in the picture are 4', but the overall system is 7'.)

We have already made enough room in the garage to park one vehicle, and we are getting close to being able to put both inside!

Guess I still owe a post on the grab rail fiasco.