Retirement thoughts Past Present Future

[m1garand762]

When I croak, I hope it's in a nice warm bed, at night, in my sleep, when I'm well past 100.

Probably not realistic, but I'd like to try.

That’s what I tell people as well, but the reality is it will probably be in a vehicle killed by someone texting

 

[ovrszd]

Some people need those few dollars.
If they can retire at all.

I agree.

Some need to work to complete themselves. I totally understand that and am compassionate about that for them. Just don't try to convince others that's the way to go.

No one knows of tomorrow. Retire as early as you can. If that's your goal. If your goal is to work until you drop, so be it, go for it.

 

[buckeyefarmer]

So many people will 'have to' work until they turn 65 so they can sign up for medicare.

I know a fellow who quit his well paying job in his early 60's (without thinking ahead) and of course lost medical insurance provided by his employer.

Few weeks later he was panicking and begging to be rehired, but no luck.

Today you can go on the health exchange and get insurance, and if you’re not making much it’s heavily subsidized by the taxpayers.

 

[California]

I know a fellow who quit his well paying job in his early 60's (without thinking ahead) and of course lost medical insurance provided by his employer. Few weeks later he was panicking and begging to be rehired, but no luck.

Has anyone thought to ask why medical care has to be tied to staying employed?

Most of the other developed countries do a better job of health care at far lesser cost to the individuals. Good health is thought of as one of the rights of citizenship.

But not here.

 

[WinterDeere]

Inflation is way scarier to me than the stock market. Stocks go up and down, but the dollar just goes down and stays there. Plus, inflation compounds. Two years of 7% is 14.49%. Three years is 22%. Losing 22% of my retirement savings will really hurt, and I will never get that back.

You're keeping all of your retirement in cash? Most everything else of value gets a free ride with inflation.

I told my wife if I go first, to enjoy herself and that I hope her new boyfriend enjoys my tractor and fishing gear. I'm dead. Don't worry about it. Life goes on.

He can ride my tractor or my wife... but not my boat!

 

[California]

Today you can go on the health exchange and get insurance, and if you’re not making much it’s heavily subsidized by the taxpayers.

YMMV. This poor woman has been watching her husband die after every practice that will see him, has been bought up recently by venture capitalists with the apparent goal of improving profits by reducing care.

https://www.dailykos.com/stories/2023/2/24/2154735/-My-Medicare-Disadvantage-Story

 

[Gale Hawkins]

Curious what the benefit of waiting to sign up for Medicare at 75 is. If your wife is still working and you are on her medical, is there not an option to select one (or both) as being on Medicare to reduce her premium?

As to other member's posts about how long they expect to live, I have always looked at how long my parents lived, grandparents etc. and added a couple of years per generation which lands me in the early to mid 90s. Both my parents died of natural age-related causes, and both lived 2 to 3 years longer on average than their parents. I know the trend nationwide for life expectancy is tapering off or dropping, but I believe a lot of that is due to drug related deaths etc.

The kids are still in college and are still not age 26 so the wife has the family plan.

My brother has a health plan through where he retired and when he got on Medicare it was a wash premium wise.

 

[arto98607]

Has anyone thought to ask why medical care has to be tied to staying employed?

Most of the other developed countries do a better job of health care at far lesser cost to the individuals. Good health is thought of as one of the rights of citizenship.

But not here.

Health insurance and health care are different.

USA has the best health care money can buy - I know what a single payer health care is alike, rationed care & huge waiting periods.

Been there done that in couple of different countries with single payer system.

 

[kenmac]

According to most calculations I've seen, you only come out ahead by postponing SS if you live beyond 80.

BINGO ! And that's the issue. It takes too long for pay back. I think mine was like 82
My financial advisor / tax person said take it now for a longer period of time .

My chances are much probably much better at getting pay back now, than much later.
I guess if you leave this place, and leave money on the table, it doesn't matter anyway

 

[Gale Hawkins]

Sitting here at 71 I have no understanding of having a discussion with myself regarding retirement age based on such trivial things as how much SS I would draw or what Medicare would cost me. I've been retired 11 years and wouldn't change anything. I'd have to write a book to describe all the things I've done since being retired. Life is good.

Your financial success is above average so congratulations. In our case working from 60 to 72 gives us the opportunity added to our retirement accounts and general savings.