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08-31-2014 07:31 PM
On 8/30/2014 happy housewife said:My DH and i always planned to retire when he was 66 and i was 62. Knowing we would have to buy me health insurance for 3 years. Then the unplanned for happened. I was seriously injured by a patient at work and went on workman's comp - that was a horrid time - they harass you almost daily.I had surgery to try to fix my back injury but that actually caused even more back problems and i was on a merry go round . Eventually I called HR at the hospital where i worked and said if the harassment from the comp company did not stop i was going to file a lawsuit against them. The hospital's solution was to decide to have their lawyers call me to say they would like to assist me to get on to SSD and off the workman's comp.(they actually referred me to Binder & Binder but that worked ) I got the SSD and at age 58 i was retired, totally unprepared to be - but life has it's way no matter what we plan, doesn't it. i got my SSD at age 60 and my medicare at age 62, and my DH retired. Once i got away from the workmans comp doctors and had an actual very good doctor of my own choice i am doing pretty well physically but it has taken a long time to get over the poor care I got from that workman's comp doctor. Anyway, the point is - you don't always get to plan and take your time to do things the way you want to do them. Sometimes life has another plan for you.
Happy Housewife, you have certainly been through a lot. I am glad to hear that you are feeling better. And you are right, I had thought I'd be working until 70, but it sure is not looking that way now.
08-31-2014 07:37 PM
My best advice is to LIVE BELOW YOUR MEANS.
08-31-2014 07:40 PM
On 8/30/2014 gacat123 said:You might want to check out the book *You Can Retire Sooner Than You Think:The 5 Money Secrets of the Happiest Retirees* by Wes Moss, Host of Money Matters paperback/$18.00
Happier retired couples have the mortgage paid off according to stats. We started planning for retirement when we were about 40yo and were able to retire at age 55yo. We keep busy with various interests and hobbies. DH does some financial consulting work when he wants to and keeps up his CPA continuing education requirements. Retired now 4years. (smile)
*We are also like Dave Ramsey (The Get Out of Debt Guy), he is easy to understand.
Good Luck,
CAT
Hi CAT, I am going to see if I can get this from my library. Thank you.
08-31-2014 08:00 PM
I saved something from every paycheck I received
08-31-2014 08:17 PM
Well our income may be limited. But, the outgo is easier to control.
Live in a modest home, and get a short term loan (15 years) and pay it off early if possible.
That sure helps with your expenses.
Same thing with your vehicle. Or, vehicles.
08-31-2014 08:52 PM
Buy Lottery Tickets {SERIOUSLY!!|} worked for us!
08-31-2014 08:58 PM
Although I am not near retirement age, I know people in the financial industry, like I'm sure many here do. The mantra to younger people is START EARLY! Be a little aggressive in your investment strategies while younger and adjust as the years go on. But starting early is a MUST!
Now, did I take this advice when I was 25??
09-01-2014 11:16 AM
On 8/31/2014 expatgal said:My best advice is to LIVE BELOW YOUR MEANS.
This advise, if followed, would save a lot of people from a lot of financial hardship.
09-01-2014 11:20 AM
On 8/31/2014 Desertdi said:I saved something from every paycheck I received
That is a great practice. You are probably in very good financial shape. Today, with automatic deposits, that can be set up and requires no ongoing effort.
09-01-2014 11:34 AM
On 9/1/2014 MarieIG said:On 8/31/2014 expatgal said:My best advice is to LIVE BELOW YOUR MEANS.
This advise, if followed, would save a lot of people from a lot of financial hardship.
It sounds so simplistic, yet soooo difficult to do on a day in/day out basis. And it certainly isn't the "American way" these days.
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