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Old 18 February 2019, 12:57 AM   #61
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Agree. I live overseas now and have a good life and full medical and dental. I learned a second language. Have a great dog. Friends.

I miss the US sometimes but life is good here for now.
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Old 18 February 2019, 01:05 AM   #62
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Discussion for early retirees ....

Fortunately access health care is not something we have to worry about in Canada either. Kind of take it for granted; not that retirement is something I have contemplated. I am 40 with have a young family (1 yo and 4 yo) and I really want us to be set before I think about cutting income. I want the kids to experience the world, a variety of activities, people and places, and that takes plenty of coin. So I’m at the grindstone for the foreseeable future.
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Old 18 February 2019, 01:54 AM   #63
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Agree. I live overseas now and have a good life and full medical and dental. I learned a second language. Have a great dog. Friends.

I miss the US sometimes but life is good here for now.
I retired last year at 63. Working on relocating to Malaysia. Great place for retirement.
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Old 18 February 2019, 01:57 AM   #64
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I retired in 50's and began investing more seriously in stocks, and becoming active on the internet. I am now in my late 60's and financially secure. But it depends on your aptitude and desires.

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Hello all,
I know many people have retired at an early age, say 40s or early 50s.

I’m late 40s, ready to retire from my main career, at least on one level, but am not really sure what I’d do with my time. Finance not an issue as I’m all set comfortably.

So, for those of you that have retired early, how have you spent your time? Have you found a ‘purpose’? Or, have you been content just taking the days as they come?

I’m considering going back to university for the enjoyment only (masters or PhD in in a new area), maybe expedition-challenge type travel, or maybe interspersing interesting work-style contracts with periods of rest, travel etc ...

I’m really interested in all perspectives, I’m sure there are others in a similar situation, or maybe those thinking about retirement ...

Thanks!
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Old 18 February 2019, 06:50 AM   #65
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Fortunately access health care is not something we have to worry about in Canada either. Kind of take it for granted; not that retirement is something I have contemplated. I am 40 with have a young family (1 yo and 4 yo) and I really want us to be set before I think about cutting income. I want the kids to experience the world, a variety of activities, people and places, and that takes plenty of coin. So I’m at the grindstone for the foreseeable future.


I think your post highlights something many people take for granted - the status quo.

You mentioned health care - that is one example. Tax, as in tax theory by governments, is another. Lastly, housing costs for the long term.

What I have seen happen in past 10 years has thrown wrenches in some friends’ plans.

Tax increases have eroded about 10% of their net income as tax theory on certain wealth levels is now in the crosshairs.

Those on health plans for early retirees (here in US, before Medicare eligibility) have seen insurance costs rise nearly 50%.

Last thing, their 20-year old $500K homes have seen unplanned maintenance costs soar to 30% of market value (water systems, roofs, septic/sewer). Yes $150K in repairs over past 10 years.

I mention this because young families thinking of early retirement should find strategies now to protect their financial resources from unplanned large outlays.


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Old 18 February 2019, 07:34 AM   #66
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It’s a huge burden for many in the USA, unless one is on welfare or here illegally, then it’s free.
I retired seven years ago at 56. I have the least expensive Blue Cross health insurance policy available in Minnesota. Costs me $24,000 a year, and basically covers nothing, even though I and my spouse are incredibly healthy. Out of pocket expenses have to exceed $37,000 a year for it to kick in. Our health care system is a disaster.
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Old 18 February 2019, 08:03 AM   #67
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Agreed.
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Old 18 February 2019, 10:25 AM   #68
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Originally Posted by joeychitwood View Post
I retired seven years ago at 56. I have the least expensive Blue Cross health insurance policy available in Minnesota. Costs me $24,000 a year, and basically covers nothing, even though I and my spouse are incredibly healthy. Out of pocket expenses have to exceed $37,000 a year for it to kick in. Our health care system is a disaster.
The 37k is on top of the 24k?
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Old 18 February 2019, 10:47 AM   #69
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The 37k is on top of the 24k?
Yes
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Old 18 February 2019, 11:48 AM   #70
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Yes
Maybe i can get some sort of basic job to get healthcare


Do u guys know if medicare kicks in at a certain age?
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Old 18 February 2019, 11:56 AM   #71
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Maybe i can get some sort of basic job to get healthcare


Do u guys know if medicare kicks in at a certain age?
The hospital rooms in Florida are amazing, first class, wonderful waiting rooms. The ones in Canada not so much. But people aren’t going into bankruptcy after a stay.
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Old 18 February 2019, 03:00 PM   #72
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The healthcare system in the US seems so broken, surely it’s just a matter of time before someone develops a ‘disruptive’ business model to turn it on its head?
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Old 18 February 2019, 03:07 PM   #73
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The hospital rooms in Florida are amazing, first class, wonderful waiting rooms. The ones in Canada not so much. But people aren’t going into bankruptcy after a stay.
You dont know the half of it.....if you dont pay it your credit is ruined.
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Old 18 February 2019, 04:16 PM   #74
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I think your post highlights something many people take for granted - the status quo.

You mentioned health care - that is one example. Tax, as in tax theory by governments, is another. Lastly, housing costs for the long term.

What I have seen happen in past 10 years has thrown wrenches in some friends’ plans.

Tax increases have eroded about 10% of their net income as tax theory on certain wealth levels is now in the crosshairs.

Those on health plans for early retirees (here in US, before Medicare eligibility) have seen insurance costs rise nearly 50%.

Last thing, their 20-year old $500K homes have seen unplanned maintenance costs soar to 30% of market value (water systems, roofs, septic/sewer). Yes $150K in repairs over past 10 years.

I mention this because young families thinking of early retirement should find strategies now to protect their financial resources from unplanned large outlays.


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That is very true...

I think this is pushing some of the housing construction boom in Florida and the other usual places....people just want new houses when they retire, so they don't have to pay for all that $hi7 that breaks or deteriorates on an old home. Get something new and forget about it..
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Old 18 February 2019, 04:24 PM   #75
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Yes - once one retires it is better to find safer places to store wealth.

The value of real estate and tying up half a million (or more) in an asset that just keeps you dry & warm is counterintuitive. A condo on a Beach works just as well.

The appreciation is certainly great, but will only be enjoyed by your heirs or trust directors.


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Old 18 February 2019, 07:28 PM   #76
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I was an Emergency Department physician for 26 years. I was assaulted by a patient and sustained a brain injury, losing some fine motor skills, balance and short term memory abilities. After a year on disability, the insurance company retested me and found slight improvement in motor skills. They discontinued benefits and advised me to go back to the ED. As my case manager said, "Give it a shot. See how it goes."

Not wanting to "see how it goes" only to find out it didn't go well, I retired at age 56. After spending 26 years in the high stress environment of the ED waiting for terrible things to happen to people and watching the clock for shift end, I began living a day at a time. I sleep regular hours, enjoy holidays with my friends and family, watch entire football and hockey games without interruption and love waking up every day to see what happens in life.

Not every effect of a brain injury is negative. Though I lost some IQ points, I can function well in life. Perhaps the most surprising change in my life is the loss of my Type A personality. I'm no longer constantly driven to work, succeed, excel, and produce. I'm the volunteer director of a ski patrol chapter at a local ski resort. I ride a mountain bike in the summer. I dabble in astronomy and photography. My spouse and I downsized and built a new house on a river and pond in the pines. I spend wonderful time with grandchildren, children, my spouse, my friends and myself. Some days, I do nothing "productive." Others are extremely busy. But every day, I do what I want.

Have I found purpose? Yes. Living intentionally. Cherishing every day instead of wishing it was over. The further I get from my ED career, the more I realize how difficult and painful it was to depersonalize my interactions with tragic situations. I feel feelings I stuffed years ago. I've never once wished I could undo my brain injury and return to work. The last six years have been the happiest and most peaceful of my life.

Sir. This. I approach the end of my ER nurse career, and embark on a different path. I have 48 shifts left as an RN, plus however long it takes to get credentialed. After 20 years in emergency medicine EMT/RN, I won't mind my retirement career at the urgent care center.

I'm glad you found your peace away from the lights and sirens.

I won't miss it, either.
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Old 18 February 2019, 07:38 PM   #77
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Hey – If you can afford it and you don’t think you will miss work I say do it.

I am a late 50s and have decided to start working less, with no desire to fully retire as I enjoy being active and like/need the income.

It sounds like you have a plan to keep yourself active with the study (which I would consider a massive punishment) - I think it’s important to have and do interests.

I can easily fill my day playing my chosen sports, reading, gardening, walking etc and will join the ‘National trust’ to tick off some of their many monuments, buildings and places of interest.

when you are about to join the national trust remember what the chief curator had to say a couple of weeks ago,

i wouldnt join now because of all that.
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Old 18 February 2019, 07:58 PM   #78
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The healthcare system in the US seems so broken, surely it’s just a matter of time before someone develops a ‘disruptive’ business model to turn it on its head?
I love my health care. I live in Florida. Not sure what you are referring to.
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Old 18 February 2019, 08:09 PM   #79
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I love my health care. I live in Florida. Not sure what you are referring to.
cost vs clinical outcome is all wrong. US has a much higher infant mortality rate than the UK... by a lot to name one example

comparing apples to apples a birth in the UK (private with insurance) costs astronomically less than in the US with insurance. So you pay less and the outcomes are better.

why does an epi pen cost $500 in the US and $12 in the UK? same product... if you dont use an NHS prescription its still only $63
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Old 18 February 2019, 10:54 PM   #80
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The 37k is on top of the 24k?
In my case, the deductible is $13,500. Every January, the counter resets to zero. Going on Medicare is the only reason I can see to look forward to turning 65.
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Old 18 February 2019, 10:56 PM   #81
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Sir. This. I approach the end of my ER nurse career, and embark on a different path. I have 48 shifts left as an RN, plus however long it takes to get credentialed. After 20 years in emergency medicine EMT/RN, I won't mind my retirement career at the urgent care center.

I'm glad you found your peace away from the lights and sirens.

I won't miss it, either.
Thanks, Ken. I think you'll find that the further you get away from the ER time wise, the more amazed you'll be that you spent your life dealing with that level of stress.
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Old 18 February 2019, 10:59 PM   #82
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Thanks, Ken. I think you'll find that the further you get away from the ER time wise, the more amazed you'll be that you spent your life dealing with that level of stress.
Joey I’m sure all the people you helped over the years are very thankful you and your skills were there for them.
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Old 18 February 2019, 11:42 PM   #83
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I retired seven years ago at 56. I have the least expensive Blue Cross health insurance policy available in Minnesota. Costs me $24,000 a year, and basically covers nothing, even though I and my spouse are incredibly healthy. Out of pocket expenses have to exceed $37,000 a year for it to kick in. Our health care system is a disaster.
Like you, I also have the cheapest BC/BS plan offered in my home state of NY.
My plan covers me and my SO and costs $625/month. I have a $15k family deductible but certain basic visits and procedures (think mammogram or colonoscopy) are covered in full.
I know that health insurance costs can vary state by state but I didn’t realize it could be that different!
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Old 19 February 2019, 12:08 AM   #84
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Working might be so stressful but retirement ain't fun at all .
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Old 19 February 2019, 12:34 AM   #85
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Working might be so stressful but retirement ain't fun at all .
Retirement = Life - Work

This implies that literally the only thing that is fun is work. That's pretty sad.
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Old 19 February 2019, 12:58 AM   #86
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Wow, I cannot imagine why one would be bored in retirement. Granted, I hated my career and I am still busy raising two daughters but I honestly feel like there is less time in the day than when I was working.

Once word got out that I was retired, I have been recruited for a variety of volunteer community service positions. These keep me engaged as much as I want.

Due to school age kids, my world travel dreams remain only partially fulfilled and I dream of the time a few years down the road when we can go vagabonding.

I guess my imagination and wonder of the world will always be an impediment to boredom.
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Old 19 February 2019, 01:00 AM   #87
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In my case, the deductible is $13,500. Every January, the counter resets to zero. Going on Medicare is the only reason I can see to look forward to turning 65.
So 37k is the annual nut (premium + deductible)


Im 40 and am starting to plan for retirement so appreciate these njmbers guys. The healthcare component is what worries me the most. I have 1 side business and likely open another side business when i retire so I need to know how much I need to make to cover for everything.


I should say Im palnning to retire out of corporate and just deal with my own money in my side business’.
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Old 19 February 2019, 01:03 AM   #88
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I feel as if people who 'must work' really have no hobbies and/or cannot enjoy themselves without keeping busy.

I have upwards of a dozen hobbies and can easily fill my days with any of those, plus cooking and going to the gym, for years and years.

Life isnt about working or keeping busy, it's about enjoying the time you have on this planet.

Go outside and stare at the trees for a bit.
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Old 19 February 2019, 01:05 AM   #89
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keep the mind occupied whatever you do,

i am never retiring, even if i was able to,

i was speaking to a customer of 95 years of age who had only recently retired, he had been a courier driver since he tried to retire at age 75, he told me its all about the mind, you let that go, and its goodnight vienna.

His frustation now at age 95 was people not taking him seriously when he rang up enquiring about jobs. It really was amazing talking to this man who knew all about the nazi's as he had served in ww2, his mind was pretty much like the average 75 year old mind.
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Old 19 February 2019, 01:14 AM   #90
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I retired seven years ago at 56. I have the least expensive Blue Cross health insurance policy available in Minnesota. Costs me $24,000 a year, and basically covers nothing, even though I and my spouse are incredibly healthy. Out of pocket expenses have to exceed $37,000 a year for it to kick in. Our health care system is a disaster.
That is crazy. How many people are you covering under that plan? The "worse" bronze plan I was offered from BCBS SC was $12K max out of pocket with monthly premiums around $125.
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