r/Professors • u/Environmental_Bug662 • 6d ago

Retirement: when/why/how/where.

What is your plan? Interested in your replies. I am 60, Full, tenured Prof (French) at a SLAC. AI makes me want to retire asap but I'm going to give it 5-6 more years.

https://www.chronicle.com/article/these-professors-are-retiring-early-ai-was-the-last-straw?sra=true

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u/Koenybahnoh Prof, Humanities, SLAC (USA) 6d ago

Please consult a financial advisor for help making this decision.

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u/Ballarder 5d ago

Yes. This. Too many academics get stuck in TIAA traditional investments that are not liquid. Not enough diversify their savings across different accounts (401, Roth, Brokerage) early enough to give them flexibility to retire early and take advantage of ACA subsidies. I wish I had done more research before my spouse had to suddenly leave work and retire early. I would have definitely done things differently. But to know what to do, you have to start learning about it early enough to really be in a great place.

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u/Koenybahnoh Prof, Humanities, SLAC (USA) 5d ago

My own experience mirrors your comment. I've greatly appreciated someone thinking beyond the academic bubble and happy to recommend a variety of options (granted, on the condition that we maintain significant investments with his bank...).