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Posts: 28,030
Registered: ‎08-23-2010

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


@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.

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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.  I've been hitting the Googles since I posted.  I'll head over there next.   Thanks again!

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Registered: ‎03-19-2010

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

Wow, after reading this, I'm seriously depressed.  Give up this, give up that, don't spend money, stay home, have one car...I think I'm going to work for a while!

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Posts: 2,105
Registered: ‎09-16-2010

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

@AngelPuppy1: When I started working age 22 and single, everyone stressed see some one for financial planning and was referred to one. Stressful process. I thougt I had decent income and being paid monthly. I was working with disabilities but what he wanted me to do and set aside was impossible.I worked  full time but he wanted me to get another job. I had co-signed with Mom to purchase a house and tax payments were separate, Mom died and I had the house and expenses but not expensive like my friends rental payments but they were living beyond there income and using charge cards. I had a charge card but paid balance off  monthly. I was frugal- did not party, spend money  only when necessary and only ate out once a week. Tax refund was put in a savings account and another fund for emergencies. I am not poor nor rich.I have always purchased used cars but finally in 1996 purchased my first new car. I have enjoyed life and was able to take a few nice trips. I am thankful to God and feel Blessed. I have friends that brag about the amounts in savings, investments and other plans but they are not happy and I know this is an exception for normal. Just do what you know is the best for your circumstances. Southern Bee 

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


@Phantom46 wrote:

Wow, after reading this, I'm seriously depressed.  Give up this, give up that, don't spend money, stay home, have one car...I think I'm going to work for a while!

 

Certainly nothing wrong with keeping working. When we retired our monthly income went to half what it was working. However, if you have paid off your mortgage and all your other debts, you can live quite comfortably.My DH's company gave full dollar for dollar match up to 20% on his 401K to those in mgt. so he always saved at least that much. We've been very fortunate to have not lost any large amounts of money in the stock market, sso we feel we have sufficient savings.

The thing is - once your on fixed income, you can't be doing things like going out and buying expensive items you don't really need just to keep up with trends. Every one I know who does that is having trouble financially or has gotten a job because retirement income just won't cover major expenses like that. You do have to make a budget and limit spending. Remember, you don't know what medical expenses the future will bring or how long you will live.


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


@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. 

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Registered: ‎03-09-2010

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

@Phantom46Don't be depressed.      I haven't given up anything...  we eat out often like 3-4 times a week.   We travel, not huge expensive trips, but 2-3 day trips to local areas.   I play golf and I shop a lot!  Spend money on my condo ( just had the entire inside painted), put a deck on etc.  Without getting to personal we make enough monthly income which includes 2 social security checks, 2 pensions and 1 IRA...    We do have money invested but who ever knows how much is enough.   I'm comfortable with the amount but who knows if something serious happens.   I do not have a mortgage so monthly expenses are normal like electric, phone etc.   So without knowing your financial situation I'd say figure out your monthly expenses and monthly bills and take it from there.    I hope this helps...

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


@Phantom46 wrote:

Wow, after reading this, I'm seriously depressed.  Give up this, give up that, don't spend money, stay home, have one car...I think I'm going to work for a while!


@Phantom46  It is not stressful if you plan for retirement starting young and have a goal. Things can come up over the years and put a dent into your plan, so you may need to adjust the plan and the goal.  But always have a goal.  A financial planner is what my husband and I used to keep us on track over our working years and to make the best decisions for long term savings and investments. 

 

You do do not have to give up this or that if you plan.

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

I stopped working when my first daughter was born.  That was 46 years ago!

 

My friend I eat with almost every day for lunch retired probably 4 years ago now (a little early....government).

 

She drove into DC 4 days a week, leaving her house at 5:00AM (traffic in Va/DC/Md is like that).  She worked 4 days a week, 10 hour days.

 

She said she looks back now and wonders how she did it!

 

Good for you.  I know you'll be happy.  Life is too short not to enjoy it!

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Registered: ‎03-19-2010

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


@SeaMaiden wrote:

@Phantom46 wrote:

Wow, after reading this, I'm seriously depressed.  Give up this, give up that, don't spend money, stay home, have one car...I think I'm going to work for a while!


@Phantom46  It is not stressful if you plan for retirement starting young and have a goal. Things can come up over the years and put a dent into your plan, so you may need to adjust the plan and the goal.  But always have a goal.  A financial planner is what my husband and I used to keep us on track over our working years and to make the best decisions for long term savings and investments. 

 

You do do not have to give up this or that if you plan.


@SeaMaiden:  I thought you said:  

 

 

AND   you still never answered my question.....   That is  all I have to say on this thread.

 

LOL.