Discussion for early retirees ....

[LandWatch]

Originally Posted by locutus49

To OP, I retired at 55 and am now 70. Other than piddling with my stock portfolio, which requires very little attention from me and provides much of our income- that is how I designed it - I read, play chess or bridge, participate in forums like this one, and chase the wife around the kitchen table. Okay, I limp around the kitchen table.

In short, I do not need to stay busy all the time. I enjoy just relaxing. YMMV.

I can certainly visualise this; well, was my vision!

But, I realise now I’m not quite ready. It took the few months off, to really rest, getting more sleep, taking several holidays, for me to realise this.

My wife did warn me! And, irritatingly, she’s usually right!

[chieftd]

I wished I could have retired early. But living in Hawaii with a mortgage was just not possible right now. I’m 60 now and look to fully retire at 65. I’m retired military so that is a plus for my situation, having a life pension plus medical for myself and my wife. At 65 Medicare kicks in so I hope not to have any medical coverage issues between Medicare and Tricare. Social security and investments are an added plus.

I plan to be debt free, except for my mortgage, at retirement. If I leave Hawaii I will sell the house and resettle in mainland USA. My hope is my health holds out to travel and enjoy those retirement days for 30 years or more, and fund a new watch or two. :)

I envy you guys that have been able to retire early and enjoy the time with family, hobbies, and interests. It is unsettling to hear the stories of retirement hardships and I feel for those that have had a tough road.

I am excited about the next five years as I prepare for final retirement. My wife is 8 years younger than me so she will probably work a few years beyond my retirement. That leaves opportunity for golf multiple times per week, sprinkled in with some home duties. :)

I wish for good health and happiness for all of us in our golden years. Cheers, Tim

[Fat_ninja]

I contemplated retiring. Just healthcare cost too much

[kirksingleton]

I retired early and was really board. I even got tired of golf, though I still have my club membership. I spend time on my boat fishing, I have a ski house that I am at quite a bit, fly fishing in the summer and winter sports. I also sell real estate to family and friends. I enjoy helping people and it gives me something else to do. Last week I bought a mint classic Porsche that I am messing around with. Did I mention naps are,great?

[ecdc]

I retired at age 44. Yes, health care is a big part of a retirement budget. Plan, double-check, and triple check your budget. The "fun" thing about numbers is that if your underlying assumptions were reasonably accurate, numbers don't lie. Trust in them. Will I get bored? Not yet. If I do, I have useful skills to become un-bored.

[locutus49]

We have medicare and blue cross Federal. Not cheap and does not cover some drugs, but it covers us pretty well.

Originally Posted by Fat_ninja

I contemplated retiring. Just healthcare cost too much

[Letsgodiving]

The key for early retirees in regards to their health care costs in the U.S is to plan ahead in order to manage their MAGI (modified adjusted gross income) to qualify for the subsidies within the ACA. The subsidies are based on income and not assets so if you plan accordingly with Roth IRA's, taxable investments etc. health care costs can be quite affordable for many.

That being said who knows how long the ACA will last at this point so it's difficult to plan for a long early retirement without knowing what will in be in place for the next 10-15+ years.

[Duey]

Originally Posted by Letsgodiving

The key for early retirees in regards to their health care costs in the U.S is to plan ahead in order to manage their MAGI (modified adjusted gross income) to qualify for the subsidies within the ACA. The subsidies are based on income and not assets so if you plan accordingly with Roth IRA's, taxable investments etc. health care costs can be quite affordable for many.

That being said who knows how long the ACA will last at this point so it's difficult to plan for a long early retirement without knowing what will in be in place for the next 10-15+ years.

Totally Agree

ACA (aka Obama care) is one of the greatest cost saving for early retirement we have here in the USA. If you plan your finances correctly you can get a 100% top end Cadillac plan medical coverage for as little as $10 bucks a month. It's only available until you hit Medicare age but up to that point the cost savings are major. Everything is adjusted based on your annual income, not how much you have, so sometimes making less gross actually makes you net more. I don't know how long it will be around but for now it's great cost saving when done correctly.

[locutus49]

I wonder if those politicians who battle over healthcare realize how hard it is to plan for retirement when your healthcare is a big unknown. I wish they would settle on a plan and just leave it alone.

Originally Posted by Duey

Totally Agree

ACA (aka Obama care) is one of the greatest cost saving for early retirement we have here in the USA. If you plan your finances correctly you can get a 100% top end Cadillac plan medical coverage for as little as $10 bucks a month. It's only available until you hit Medicare age but up to that point the cost savings are major. Everything is adjusted based on your annual income, not how much you have, so sometimes making less gross actually makes you net more. I don't know how long it will be around but for now it's great cost saving when done correctly.

[austinp]

Originally Posted by Duey

Totally Agree



ACA (aka Obama care) is one of the greatest cost saving for early retirement we have here in the USA. If you plan your finances correctly you can get a 100% top end Cadillac plan medical coverage for as little as $10 bucks a month. It's only available until you hit Medicare age but up to that point the cost savings are major. Everything is adjusted based on your annual income, not how much you have, so sometimes making less gross actually makes you net more. I don't know how long it will be around but for now it's great cost saving when done correctly.

Wow. I didn't know that. How low does your income need to be to qualify for that?

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[Rags]

I started working when I was 19 yrs old back in 1979. After 7 years as a Equity Trader down Wall St, 20 years as a NYC Police Officer working the midnight shift & coming up on my 20th year working security in a hospital ( the first 7 years I worked as a cop also, the hospital was a 2nd job) it is now time to finally retire in 2020 as I will turn 60 next October.

My wife & I have raised our daughter & put her through college. We have been saving since we got married in 1992 & we just celebrated our 27th anniversary. In May we will be going down to Florida to look for a house and to finally enjoy the fruits of our labor. We have been planning for this for sometime.

As everyone knows tomorrow is promised to no one so my wife & I want to enjoy what time we may have left on this earth. We plan on volunteering at a pet shelter 2 days a week as we both love dogs, we want to travel, live healthier & more importantly finally relax a bit.

The advice I give to the younger guys I work with is to:

1. Try to find a job that you like & if you can get a monthly pension that's a plus.

2. Save, save save. Pay yourself first. Max out in a 401K, 457 or 403B etc.

3. Remember that life is short & you won't be 21 forever, so plan for your future.

4. Enjoy life, learn from your mistakes and move on don't dwell over things.

5. Lastly, Take 15 minutes a day and pray and give thanks to God for all he has given you.

[Fat_ninja]

Originally Posted by locutus49

We have medicare and blue cross Federal. Not cheap and does not cover some drugs, but it covers us pretty well.

I don’t know I still don’t feel good about it.

[ArdenJaguar]

I’m 55 and plan to “Phase 1” retire at 60. That means I’ll leave my high stress job in hospital system revenue cycle. Then I’ll hit “Phase 2” where I’ll find an easier job, something I’ll enjoy, it’ll pay less but that’s OK.

I just have to live near a VA hospital for healthcare. I’m a disabled vet for severe PTSD and receive lifetime pension and healthcare from the VA since my disability has been ruled “static”. Twenty years of treatment will do that too you.

When I hit 64 it’s “Phase 3” where I’ll take Social Security and leave whatever part time job I’m working. Then I’ll live off my 4% deduction from my 403b annually, social security, and my VA Disability pension. With my house paid off and my only debt my income based college loans I’ll do all right. I won’t be living it up much but a couple cruises a year and cash for fun will ensure Im not eating cat food.

The most important thing will be staying busy. Right now I’m a bit of a homebound recluse at times. I need to get out and socialize. Hobbies I used to enjoy hold no interest now (stupid depression) and I struggle. I’m hoping old age is kinder to me. I’m overweight and have no illusions of living into really old age.

AJ

[Retired Bob]

I'll be 70 and retired at 56.Love it. First is the gym, breakfast, yard work, shopping with wife, cooking together. Planned this at 38 years old.

[Rags]

Originally Posted by Retired Bob

I'll be 70 and retired at 56.Love it. First is the gym, breakfast, yard work, shopping with wife, cooking together. Planned this at 38 years old.

This is exactly how my day will go down in Florida only I'll be 60.

[joeychitwood]

To paraphrase an old saying, the worst day skiing is better than the best day at work. I ski three to four days a week, getting exercise, breathing fresh air and hanging out with great people. I'm so grateful for the opportunity to retire at an early age, even if retiring wasn't my own idea.

[BNA/LION]

Awsome! Skiing is a great way to stay active in retirement! Golf is good too. Being retired takes a little time to get good at.