Peace Corps Stint Puts Their Retirement on Hold
A life-changing experience in Romania delayed this couple's retirement but provided a strong foundation for their golden years.
THEN: Frank and Ximena Huthnance appeared in Kiplinger's Retirement Planning Guide in 2005, when they were finishing up a two-year tour as Peace Corps volunteers in Radauti, Romania, a small town near the Ukraine border. Frank, then 67, worked in administration for Habitat for Humanity, and Ximena, 63, taught English at a local high school. They left for Romania just a month after Frank retired from a career in banking.
NOW: Frank, now 77, and Ximena, 74, began new careers a month after returning from their life-changing experience in Romania. Frank's Peace Corps background helped him land a job as director of human resources for a hospice in Clearwater, Fla., where Ximena volunteered. "The hospice's CEO thought we had the right sort of philosophy and experience," says Frank.
Their time in the Peace Corps also helped them financially. Because their housing and health insurance were covered in Romania, they didn't have to touch their retirement savings and were able to put aside most of Frank's Social Security benefits (except for about $300 per month for travel). "We learned to live with a lot less in Romania," says Ximena.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
On weekends, they'd help build houses for Habitat for Humanity ("I'd haul cement and Ximena would lay flooring," says Frank), teach English to families in their village, or explore Europe. "The experience was incredible," says Ximena.
After living in a 360-square-foot apartment in Radauti, it was easy to move to a small apartment in Clearwater Beach. They still lead a low-key lifestyle, although they have treated themselves to a boat, something they always wanted.
Frank retired from his job at the hospice three years ago, and now they spend most of their time with their six daughters and 15 grandkids. "All summer long, we have grandkids coming and going nonstop," says Frank.
But the Huthnances haven't turned into stay-at-homes. Last year they spent four months in Europe, including a visit to Radauti. "I'm glad I delayed retirement -- it gave us enough money to travel," says Frank.
In July, the Huthnances plan to celebrate their 50th wedding anniversary with family and friends in Ecuador, where Ximena grew up. "We were married in a beautiful church in a valley," says Ximena, "and we're going to renew our vows."
They'd love to return to the Peace Corps in a few years, maybe to China or the Philippines. Says Frank, "Learning Romanian improved our cognitive abilities, and we are looking forward to learning another language."
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.
-
How to Assess the Impact of Your Charitable Giving
Here are five simple ways to 'do this, not that' when trying to find out from a nonprofit what kind of impact your donations are having.
By Catherine Crystal Foster Published
-
How a Two-Year Installment Sale Strategy Can Save on Taxes
When selling property or other substantially appreciated asset, you could spread the taxes over two years to save big bucks. Following the rules is critical, though.
By Derek A. Miser, Investment Adviser Published
-
403(b) Contribution Limits for 2024
retirement plans Teachers and nonprofit workers can contribute more to a 403(b) retirement plan in 2024 than they could in 2023.
By Jackie Stewart Published
-
SEP IRA Contribution Limits for 2024
SEP IRA A good option for small business owners, SEP IRAs allow individual annual contributions of as much as $69,000 a year.
By Jackie Stewart Published
-
Roth IRA Contribution Limits for 2024
Roth IRAs Roth IRA contribution limits have gone up for 2024. Here's what you need to know.
By Jackie Stewart Published
-
SIMPLE IRA Contribution Limits for 2024
simple IRA The maximum amount workers at small businesses can contribute to a SIMPLE IRA increased by $500 for 2024.
By Jackie Stewart Published
-
457 Contribution Limits for 2024
retirement plans State and local government workers can contribute more to their 457 plans in 2024 than in 2023.
By Jackie Stewart Published
-
Roth 401(k) Contribution Limits for 2024
retirement plans The Roth 401(k) contribution limit for 2024 is increasing, and workers who are 50 and older can save even more.
By Jackie Stewart Published
-
Is a Medicare Advantage Plan Right for You?
Medicare Advantage plans can provide additional benefits beneficiaries can't get through original Medicare for no or a low monthly premium. But there are downsides to this insurance too.
By Jackie Stewart Published
-
What You Must Know About the Different Parts of Medicare
Medicare Medicare can be complicated but we've got you covered. Here is a quick guide to the different benefits provided through each part.
By Jackie Stewart Last updated