Retirement

[Jennifer]

H,

I'm planning to begin a group family daycare in my home next year and leaving one of the best unions in the state of NY with an excellent retirement system/pension.

I would like to know how others are planning for retirement...and if others are doing the same or have done the same (leaving a job with a great union)...how did you cope making the transition??

I am new to all this so I will be asking a lot of questions please bare with me!!!
Thanks
Jen

[Michael]

Welcome to the Daycare.com Forum! I've upgraded your status. You can post freely now.

[Cat Herder]

Welcome!!

For retirement planning I went with a Roth IRA, bought the nicest home/land I could afford and HOPE to live long enough to not still be upside down in it.....::::::.

[MommieNana4]

Jennifer,

Are you retiring from this job (that is part of this GREAT/EXCELLENT union)? It can be hard to leave something that has so much to offer. The way that your post is worded makes me believe that you have a defined benefit plan (via the union at retirement) and wanted to know if any childcare provider had the "good" sense to plan for their retirement.

[Countrygal]

I am semiretired. I have a not-so-good retirement pension and am supplementing with the daycare. My future includes selling my house and moving to somewhere cheaper to live, but that will be years down the road. For now, the daycare is working great for what I am doing it for, although I could make more money working somewhere, I suppose. I love doing the daycare, though. It's a perfect fit, since I am raising my gs and have to either pay dc myself or stay home.

Welcome to the forum!