Just turned 59 years old, needed a change of scenery in 2018, because I worked one year in Garland ISD for the wicked witch of the east. Both adult children were gone, so no need to stay in Texas. Sold the house, spent 3 years in southwest Alaska with my wife, and enjoyed the time, but the wife and I differed on spending. My goal was to save for retirement. The turning point came when she read my mind one night and told me "okay, you can go up north and make the big bucks, but I reserve the right to go live with my sister in the FW area."
I arrived in July 2021 to Selawik and got lucky with the COVID $ flowing. Rent is low here. My net worth is on pace to double from July 2021 to when I get the biggest income tax refund ever this spring, because of a school district error. Five figure refund and I will hit the mark. I achieved vesting in Alaska retirement spring 2023. The retirement in Alaska is just an account, so there is a very, very high % of people who work five years and then they move on. I worked an extra year to give the govt a chance to pass a pension plan, but they declined.
This is year six in Alaska, and I am ready to come home. My high five average salary in Texas for retirement is not nearly high enough, so I need to work 2 years in Texas schools to bump up the avg. salary. This is perfect timing to come home also because my Texas teaching cert. expires in December 2025.
I have done the research about buying years of service as well, and the rules are very clear. I must get completely out of the Alaska retirement system, send the money to an IRA and then I can start the process of purchasing years of service after my first semester in Texas, using qualified money is preferred. I am fairly regular caller to both systems, ERS and TRS, because I have time in both systems. Because I worked six years in an ERS covered state agency, I can choose which system to retire from. ERS is the clear winner, with the 100% health insurance premium paid for me for life and the wife having to pay 50% of her premium.
My grocery shopping has turned into a really good hobby that helps save money as well. I do it differently form just about anybody else up here. I also have other quirky habits like drinking the water, etc. I have an iron stomach.
In June of 23, I paid for tickets for the entire academic year on Alaska Airlines. There are a lot of strange skills I have developed that may or may not help in trying to reign in the wife during my first retirement. I plan to retire in two years from Texas and then go right back to work doing something other than education. After I purchase the six years from Alaska and work two years in Texas I will have 31 years in the retirement system, and that is enough to want to start the Texas pension.