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Re: Seriously considering retirement --- could we talk?

@thechedda....if you are looking a health care until you are medicare age...Look at the health sharing policies...the are non traditional.

 

Medishare, LIberty Share there are several, be sure to read the fine print and ask lots of questions.  If you have pre existing conditions, it may not be for you.

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Re: Seriously considering retirement --- could we talk?


@LibbyAnnE wrote:

We always planned for retirement, investing, saving, paying off mortgages early, etc. We retired at 55. I actually needed to buy clothes because my wardrobe was corporate—for the professional woman. I needed decent casual clothes! I don't think we changed anything major in retirement. We had travelled so much before, and I practically lived in planes and hotel rooms during my career and travelled all over the U.S. and Europe. So, we have no desire for lots of travel. The occasional trip is ok, but getting on a plane still feels like work to me. We like hanging out at home and moved year-round to our lake house when we quit our jobs. I feel I am always on vacation here on the water. Each of us has our own interests, so we love being together but also enjoy time apart. I’m not into social media and was happy NOT to be tethered to the company cellphone 24/7 when I retired, so we have one  cellphone which we only charge up and carry on driving trips. No smart phone. So, I suppose that saves some money because we only pay for the minutes we use. It all just works, but we cut corners for decades to save, invest, and plan for this, putting the max into company stock and 401ks, investing regularly outside of that, and paying off homes early. 


@LibbyAnnE

 

Sounds like you have had a very interesting, busy and exciting life with your career, traveling, etc.!!!  Now, its your time to kick back and relax and enjoy another chapter in your life! 

"A day without sunshine is like, you know, night." - Steve Martin
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Re: Seriously considering retirement --- could we talk?


@lilypadfrog wrote:

Well, I worked in health care / health insurance for the last 20 years of my career.  I did not have my house paid off as expected but felt I could still retire.  My expenses are a mortgage (cheaper than any rent around), utilities, car insurance, one credit card and one magazine subscription.  I do have cable tv but every year when they want to raise it, I call and they leave it the same.  My income went down to 25% of my work income.  I dont like to travel so thats not an expense.  I have always been in good health but within 6 months of retiring, I could no longer hike / walk because I tore my achilles tendon.  Hiking was the greatest thing I had looked forward to in my retirement.  Now after 18 months of therapy, stem cell shots etc.... I go in for surgery in 2 weeks.

 

I am telling you this because the money isnt really the greatest worry, in my opinion.  Get as many of your health concerns taken care of or at least those you know about.  If you are happy about retiring then do it.  If money does become an issue then get a small part time job.  Do what makes you happy while you can.


@lilypadfrog

 

I am sorry to hear about your tendon!  I have similar sounding issues with this and I have empathy with you.  I loved to wlak and hike also and this brought me much peace, and happiness.  Now, I can't walk much at all.  Very little.  I agree totally about health concerns and issues.  This is what I am trying to do right now.  Get as much taken care of as I can.  But the thing is -- even those who are in fantastic health today --- you never know what tomorrow will bring.  Enjoy each day as it comes.  

"A day without sunshine is like, you know, night." - Steve Martin
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Re: Seriously considering retirement --- could we talk?


@DiAnne wrote:

I worked a couple of years past full retirement age partly because I loved my job.  I took SS at full retirement and just banked it for a few years.  Purchased a new car with the SS when I actually retired.  I live in a paid for house and I have not cut any expenses except I used to buy books and now I use the public library.  I eat out often, go to movies/plays, etc.  I am lucky that I have a lot of interests so I am not just sitting around watching TV.  I take yoga classes, walk with friends, volunteer, love to garden/go to lectures, love to cook/take cooking classes, fashion shows, etc.  I have a very busy life and I love it.  

 

I agree with other people here.  Maybe you should invest some money talking to a financial expert because not buying stamps or cancelling magazine subscriptions is not going to cut it.  


@DiAnne

 

I appreciate your response and congratulations on your retirement and I wish you much happiness and contentment! I think a lot of people have misinterpreted my post.  I have not meant that I am depending on "not buying stamps" or "cancelling magazing subscriptions" to make it.  

"A day without sunshine is like, you know, night." - Steve Martin
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Re: Seriously considering retirement --- could we talk?

@mominohio

 

I enjoyed reading what you posted.  And I really agree with you.  Everyone has a different unique set of circumstances.  And a different standard of what is necessary, needed and appropriate.  I don't judge my needs or wants by anyone elses.  Yes, unfortunately, mone is a necessary evil and we all need a certain amount of it. What some may consider penny pinching or being cheap, others may simply consider being frugal, or sensible or economical.  I don't consider cutting out some little unnecessary things --- things which I don't need or care about --- to be sacrificing anything.  I have a goal that I want to attain and I am very focused and I do have plans.  Thank you for your wonderful interesting post and all the best!!!  

"A day without sunshine is like, you know, night." - Steve Martin
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Re: Seriously considering retirement --- could we talk?


@puttypiesmom wrote:

@AngelPuppy1 

 

We talk retirement all the time even though it's a good 5 years away and one of the most frightening things is knowing that we will both have to stop buying stuff.  We both love to shop but will curtail it eventually to have a great retirement.  Who knows what pitfalls may come our way and we want to be prepared for anything whether it's a new costly appliance that is needed or unforeseen repairs to the home.  We're looking pretty good financial-wise but there's aways room for improvement - always something that needs to be optimized.  


@puttypiesmom

 

 

Change is hard.  And old habits are often hard to break.  I think so many of us (self included) like to know that we can go out and buy stuff whenever we want.  I did this for so many years that I never gave it one thought.  But I would say over the last couple of years, I started realizing ---really?  Do I need to be doing so much of this?  Why?  Of course, some things are just downright necessary.  As you wrote ---- a broken appliance needs replaced, etc.  But I had a realization -- what would you rather do --- work forever and ever and shop mindlessly --- or retire!  Duh!!!!!! 

"A day without sunshine is like, you know, night." - Steve Martin
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Re: Seriously considering retirement --- could we talk?


@SeaMaiden wrote:

@missy1 wrote:

If you can afford to retire, do so.  Many in my age group probably won't ever, unless they saved tons of money, inheritance, or win the lottery.. Who knows if there will be social security/medicare at that time. Many don't have pensions, and who knows if the money will even be there. Long are the days that people worked at one company for 20+ years, get good benefits and pensions.


@missy1  Yes. Everything you said is so true.

 

social security and Medicare will not go away, but it will be much different in the future.  The system the way it is today was not set up for people living such long lives as most do today...draining the system. 


It's the government "borrowing"  trillions of dollars from the SS funds that has "drained the system, not the retirees long lives.

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Re: Seriously considering retirement --- could we talk?

A very bright older friend of mine who retired with her husband many years ago says ‘NEVER give up the 2nd car”. Fights will ensue...  I believe that firmly. 

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Re: Seriously considering retirement --- could we talk?


@FrostyBabe1 wrote:

@thechedda wrote:

So glad I came across this topic.  I'm only on page 4 of this thread and will continue reading, yet wanted to ask this question.  I'm looking at retiring in the next 6-8 years.  This will put me a few years shy of Medicare (65).  What/how should I go about getting health care coverage until Medicare kicks in?  Thank you. 


I retired before I was eligible to receive either retiree medical benefits from my employer or Medicare (and still have several years before I'm eligible). I shopped around, got quotes and bought an individual policy from Blue Cross Blue Shield of Michigan. With the implementation of the ACA, that policy was discontinued and I now have a policy that is available for purchase on healthcare.gov. I'm not eligible for a subsidy so I continue to purchase directly from the insurance company. That's now though. The landscape may look vastly different in the 6-8 year time frame that you mention. You'll just have to see what's available to you at the time that you will need to purchase the coverage. 


Thanks for this. I've been doing some research since I posted last.  I'm coming across some good info another poster led me to.  It's just good to know that I can have health coverage, even if it's on my own dime.   

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Re: Seriously considering retirement --- could we talk?


@Tinkrbl44 wrote:

@thechedda wrote:

So glad I came across this topic.  I'm only on page 4 of this thread and will continue reading, yet wanted to ask this question.  I'm looking at retiring in the next 6-8 years.  This will put me a few years shy of Medicare (65).  What/how should I go about getting health care coverage until Medicare kicks in?  Thank you. 


 

@thechedda

 

Don't know what you'll find, but try ehealthinsurance dot com, type in information for an Individual plan, and see what comes up.   If you want something basic as a bridge to Medicare, this should at least give you some ballpark numbers for cost.


Thank you so much for this!  It was extremely helpful and informative.  It's good to know I've got some options.  *exhales*