Originally Posted by JaxRed
Probably not. Long story. When you work for a State University, there's good and bad associated with it. (mostly good). We're dependent on state budget which is very tight. No raises for last 2 or 3 years. (bad), but I've been here long enough that they need to give me a years notice before they can lay me off (good).
The big boss (here) is practically begging me for an assurance that I will stay till Dec 2012. But he didn't care enough to back me on a recent power struggle.
Sometimes you just get the feeling it's time to move on. I've been in this job 11 years.
So, in 9 months I can withdraw IRA funds and pay off house, which gives me a lot more flexbility. I'm a retired military officer and wife will still be working and house will be paid off.
I have a relatively specialized "skill" in my job that I think I can supplement my income doing. (for example doing some remote work for that site in Cali). So I would be semi-retired.
Jax, i'm in a similar situation work wise. 10 years at a community college, also dependent on state funding. TX hasn't really felt the economy in the crapper the way Florida has, so we've gotten our raises. My retirement is much further down the road, but I've considered retiring now, paying off the house with one of my retirement funds and then doing freelance work. And I'm still looking at starting my own restaurant.
But the truth is, if you like the work, like where you live and like the people around you, 40K isn't enough of an incentive to leave that.