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UPS Retirement Topics
Today is the day I Retired
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 4486342" data-attributes="member: 12570"><p>The part of the story that I didn't share is when by the time I sold my condo my son had paid the $73K down to $57K. I offered him a 0% interest loan, which I later forgave, of $51K which I applied directly to his student loans. I was able to set up a temporary user ID and password to pay directly toward the principal. His employer offers repayment of up to $6K of student loan ($100/month for 5 years) so we made sure to leave a balance of $6K. He just has to pay the roughly $30/month in interest.</p><p></p><p>Of course, what you do for one you have to do for the other, so I gave my daughter $51K in several installments from my IRA. The $51K I gave to my son was part of the proceeds from the sale of my condo.</p><p></p><p>His fiance still has a lot of SLD but if she stays with her current employer they will pay off her balance in full after 10 years of employment. As you can imagine they (my son and his fiance) are paying the minimum to keep the accounts current.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 4486342, member: 12570"] The part of the story that I didn't share is when by the time I sold my condo my son had paid the $73K down to $57K. I offered him a 0% interest loan, which I later forgave, of $51K which I applied directly to his student loans. I was able to set up a temporary user ID and password to pay directly toward the principal. His employer offers repayment of up to $6K of student loan ($100/month for 5 years) so we made sure to leave a balance of $6K. He just has to pay the roughly $30/month in interest. Of course, what you do for one you have to do for the other, so I gave my daughter $51K in several installments from my IRA. The $51K I gave to my son was part of the proceeds from the sale of my condo. His fiance still has a lot of SLD but if she stays with her current employer they will pay off her balance in full after 10 years of employment. As you can imagine they (my son and his fiance) are paying the minimum to keep the accounts current. [/QUOTE]
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Today is the day I Retired
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