Good news - Hubby's employer found his retirement paperwork finally. We had proof that FedEx delivered it so they kept looking and I guess we'll never know how it was misplaced but things are moving forward now.
As of October 1st he will be retired and collecting his federal pension. As of September 1st when I turn 68 I will start collecting social security payments. He won't collect his for 5 more years when he turns 70 if all goes as planned. That would leave me with a larger monthly payment if it turns out I outlive him. Have to be practical about all of this we think.
As of October 1st I will start paying for Medicare Part B. When he turns 65 in November he will do the same. We will also pay for federal retiree health insurance too.
Lots of changes so it is time for a new budget even with a lack of clarity about final amounts and how much we will need to pay in estimated state and federal taxes. We do know that it takes some time for the pension payments to become a full payment but that any differences are eventually paid.
We have other financial resources to draw upon but will have to figure out when to do that. We probably kept too much money in savings accounts for this purpose but we didn't know if we would find we needed a second car or if other large expenses would arise after our move. Still don't LOL.
We have decided to drop his life insurance once he is officially retired. We have also decided to wait until we are 70 to start withdrawals from our retirement accounts.
Best laid plans and all that.
I do hope that when the dust settles on all this we can simplify our financial arrangements as changing our address and other contact info for all the various online accounts was a pain although a first world problem.
For now I am going to see what expenses we can predict and monitor the incoming carefully until it evens out.
Tomorrow I have an appointment at the Social Security office to turn in the extra paperwork required for Medicare Part B since I delayed starting it and don't need to pay the penalty because I can prove I did have health insurance through his employment.
And then onward into the unknown.