Is 33 too old to begin a teaching career - mostly a retirement question?

Question

I am contemplating going back to school and getting an Early Childhood Education degree and teaching elementary school. However, I will be 33 when I start. I understand that I could retire when I turn 65 - or teach 30 years (so 63).

Here's my "question" - my husband will be able to retire when he's around 50 - is there any way, if I start teaching when I'm 33 that I could retire in 20 years or would I lose the pension/retirement built up? Or does it vary by school system? I thought I read that there are different retirement programs but I'm not sure...has anyone else been in this same boat or one kind of like it?

Thanks!

Answer 1

No!  I did that.  I graduated (the second time!) with my Ed. degree at age 33 and started teaching at 34.  You can do it!  20 years is enough time to build a pension.  Good luck!

Answer 2

Check with your state's pension system.  There should be a website for it.  I don't know where you're at, but in MI, you can buy up to 5 service years, so that would bring you back to teaching 25.  

But your pension is vested at 10 years, so you could stop at any time after 10, and start pulling it at 65.

Answer 3

If & buts will spoil your challenging desire, go and start your teaching plans. This will give you more money, name and fame too. If you are Indian, sucesees is sure. There are many like you who are doing the same and aquired a respectable position in the society. Pearl is waiting, only you have to dive.

Answer 4

I would think it would vary by the state's retirement system.  I graduated with several women who were between the ages of 36- 40 beginning teaching.  I know in our state you get 66% of final pay after 30yrs and 88% after 35.  Your best bet would be to ask a teacher in your state.

Answer 5

You need to check your states retirement program - it is different for each one. There is often an "age plus" rule you could calculate.

For example if it was "age plus service is = 85", then you could retire at about 59. This would be for full retiremement benefits - there is often a 75 percent cuttoff.

also remember that you can always add to your retirement through 403b's or 401kish type arrangements.

Answer 6

Its all in the system that you are working in. YOu may have to work at least 25 years. So read up on the retirement plan that is offered and how it works.

Answer 7

You could "retire", but without your full pension.  You should also check out each school system and a teacher's union if the area has one.  Starting teaching at 33 is not too old.  What matters is that you will enjoy your career.