Retirement Is Not the End — It’s the Beginning of New Opportunities
As the school year comes to an end, you may be thinking about your own retirement and what comes next. Whether you are retiring this year or sometime in the future, it’s important to think about what you want to retire to, not just what you want to retire from.
For many public school employees, retirement opens the door to opportunities that may not have seemed possible during their working years. The Michigan Public School Employees Retirement System (MPSERS) is designed to provide a stable income stream, and when paired with the flexibility of post-retirement employment, it can create a powerful financial combination.
Many school employees retire with 30 years of service and discover they can work part-time, or even full-time in a new role, earn significantly less than their former salary, and still bring home more net income. This happens because many of the deductions that reduced your take-home pay during your career may no longer apply in retirement. These often include mandatory retirement contributions to the state of Michigan, taxes tied to earned income and insurance premiums. Without these reductions, your pension income may go further than your paycheck did while working.
Imagine, hypothetically, an employee earning 90,000 per year. After deductions, their take-home could be significantly lower. In retirement, they may receive a pension while also working a flexible job earning $30,000–$35,000. When combined, their net income could rival or even exceed what they were bringing home while working full-time. This creates options such as working part-time doing something you enjoy, starting a second career, consulting or fully retiring but knowing you have the option to return
Even if retirement is still several years away, now is the time to begin thinking about when you may want to retire, what type of work (if any) you want to do afterward, how much income you would like in retirement and whether your current savings align with those goals. Financial professionals like representatives at Williams and Company can help you tailor a strategy to meet your needs, empowering you toward building a more secure retirement. The earlier you begin planning, the more options you create for yourself.
Retirement is not just about leaving your career — it’s about creating the next chapter. For many public school employees, that chapter includes financial stability, flexible work, and the freedom to choose how they spend their time.
This material was created by Williams and Company to provide accurate and reliable information on the subjects covered. The contents of this communication are not intended to be nor should it be treated as tax, legal or accounting advice. The services of an appropriate professional should be sought regarding your situation.
Securities and advisory services are offered by PlanMember Securities Corporation, a registered broker/dealer, investment advisor and member FINRA/SIPC. 6267 Carpinteria Ave., Carpinteria CA 93013. Williams and Co. and PlanMember Securities Corporation are independently owned and operated.