Retirement

[Geezer]

I retired 6 years ago at 61 and was lucky to like my job, but don't miss it. Our investments came out much better than expected, so we should have retired sooner.

For those of you that retired before 65, what are you doing for medical coverage? Previous company, purchasing outright or something else?

--G

That is a good question. I retired at age 57 and my employer provided an account with money in it to buy health care. There is enough in there to buy about 5 years worth. The intent is to bridge to Medicare. Fortunately for me, my wife is still working and she has a better health plan from her employer than I had, so we have been using her's for years and did not need to change anything.

 

[juniorfjr]

When I hit 62, my wife will be 54 so I told her I was in the work force 8 years before and she will just have to keep working so I can have insurance. After the swelling goes down, I'll beg her forgiveness. But really that is the only way I could afford retirement at 62. I also am going to check out VA benefits as a back up.

 

[escapefjrtist]

Thanks for the replies everyone. Lots of stuff to consider as we approach our golden years and ride off into the sunset.

Planning for six to eight short years until I pull the plug...

--G

 

[Tom Edison]

I have been retired for almost 6 years now, I planned my last day of work to be

the day before I turned 60. I didn't get back into motorcycles untill '08. I'm glad

that I did. Riding MC's, taking photo's, and helping friends takes up my time.

Money is an object but when you have your stuff paid for it really doesn't matter.

It is challenging to live with less income and I welcome the challenge. when

you have friends and a motorcycle or two

.

 

[JR'SFJR]

I understand it makes a difference where you live, but around here, I see friends paying around $300 mo. for a good medicare supplement with a drug plan plus the $100 off your SS for medicare.

 

[Old Guy]

I pay $125 a month for a Blue Cross medicare supplement and $237 a year for a Part D prescription plan that pays for all generic in full.

 

[jmdaniel]

As I'm on the hunt for a job again, (second time in an year), and it sucks hard, I can't wait until I'm not working anymore. I'm 52, the wife is 40, and I'm thinking if I can last until 62, that will be the upper limit. My wife loves her job, (ER nurse), so she'll keep working, which will make my insurance needs rather simple. I have never been a person that doesn't have anything to do, so don't see working again after I say sayonara to full time employment, unless its volunteer work for animal rescue. The 401K is looking good, so I think I'll be okay. (knocking on wood...)

WORK SUCKS!!!

 

[Bounce]

My anuity is about 45% of my old paycheck. I had 10% of that held back for a minimal survivor anuity that will pay for continuaiton of health care for my wife (making it self-sustaining).

After taxes and deductions for health insurance and life insurance my final monthly anuity is more like 35% of my former paycheck.

 

[tyronewildman]

Let me see now, retired @ 57 & been teaching MSF and other riding classes since, these last 18 years & lovin it. It’s not for everyone & at times it’s not easy but it’s all fun money which allows me to buy a new bike every few years. Try it, you just might like it. Later,,,De

 

[Bounce]

Naw. too many long days on hot pavement in 100+ degree summers.