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Old 20 February 2019, 05:09 AM   #121
betterwatchit
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When I was a student back in the 80s, I was on an exchange programme with a US university. I was injured quite badly on the sports field, blood streaming from my head, semi conscious. I was rushed to the hospital in a police car as it was the easiest at the time apparently. As I was only semi conscious I was totally unaware of what was happening! I came to on a trolley being wheeled into the hospital. All I remember was the doctor leaning over me repeatedly asking if I had insurance. It took me a while to process what he was saying. One of my team mates who came with me answered yes for me. I’m pretty sure he’d have kicked me outside if I had no insurance! Shocking feeling to a European!
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Old 20 February 2019, 05:29 AM   #122
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When I was a student back in the 80s, I was on an exchange programme with a US university. I was injured quite badly on the sports field, blood streaming from my head, semi conscious. I was rushed to the hospital in a police car as it was the easiest at the time apparently. As I was only semi conscious I was totally unaware of what was happening! I came to on a trolley being wheeled into the hospital. All I remember was the doctor leaning over me repeatedly asking if I had insurance. It took me a while to process what he was saying. One of my team mates who came with me answered yes for me. I’m pretty sure he’d have kicked me outside if I had no insurance! Shocking feeling to a European!
No worries, you'll never be asked to leave an emergency department for lack of insurance, that is the law. One of the big problems in the US is that emergent care is the only care required by law, and is often the most expensive and least cost-effective way to manage patients, particularly those with chronic conditions. The general opacity of the billing process is another monster altogether.
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Old 20 February 2019, 06:29 AM   #123
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No worries, you'll never be asked to leave an emergency department for lack of insurance, that is the law. One of the big problems in the US is that emergent care is the only care required by law, and is often the most expensive and least cost-effective way to manage patients, particularly those with chronic conditions. The general opacity of the billing process is another monster altogether.
Completely insane that this still happening today there in the USA.. We pay like 130 euro a month and maybe 170 if we would go to hospital a few times a year thats all.. It is sort of inhuman and cruel to treath people like they use to do there
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Old 20 February 2019, 06:36 AM   #124
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Completely insane that this still happening today there in the USA.. We pay like 130 euro a month and maybe 170 if we would go to hospital a few times a year thats all.. It is sort of inhuman and cruel to treath people like they use to do there
Buddy, our country is one of the best in the world in terms of healthcare and social security. One of the reasons why I'll never wish to immigrate. Grass is not always greener on the other side.
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Old 20 February 2019, 07:36 AM   #125
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Discussion for early retirees ....

I’m guessing the last dozen or so rants on healthcare are a good barometer for the OP - who, by the way, was focused on retiring early. Not the socio-political controversy about medical coverages.

So for the OP
As you can see, one major item that will not remain “status quo” will be healthcare costs.




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Old 20 February 2019, 11:58 AM   #126
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I retired at 58, which isn't all that early, but what I learned in the time that I have been retired is that the activities that you engage in are immaterial, as long as those activities provide the following, beyond the basics of food, clothing, and shelter:

Structure
Social interaction
Personal challenge
Exercise
Fun

I feel that any set of activities that provide those functions will lead to a satisfying existence.

The list can be expanded or made more granular and that's fine.

It's your life. Enjoy it.
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Old 20 February 2019, 12:18 PM   #127
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I retired at 58, which isn't all that early, but what I learned in the time that I have been retired is that the activities that you engage in are immaterial, as long as those activities provide the following, beyond the basics of food, clothing, and shelter:

Structure
Social interaction
Personal challenge
Exercise
Fun

I feel that any set of activities that provide those functions will lead to a satisfying existence.

The list can be expanded or made more granular and that's fine.

It's your life. Enjoy it.

Grady:
I do like your formula, worthy of borrowing to facilitate my gradual return to a straighter, more wholistic road from the left turn fate handed me.

Thank you,
DM
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Old 20 February 2019, 12:27 PM   #128
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When I retire I'm going to be the crotchety old guy at Home Depot/B&Q/Bunnings <insert your favorite DIY Chain here> who snaps at you when you ask where the ballcock shank washers are kept.
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Old 20 February 2019, 12:27 PM   #129
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Originally Posted by GradyPhilpott View Post
I retired at 58, which isn't all that early, but what I learned in the time that I have been retired is that the activities that you engage in are immaterial, as long as those activities provide the following, beyond the basics of food, clothing, and shelter:

Structure
Social interaction
Personal challenge
Exercise
Fun

I feel that any set of activities that provide those functions will lead to a satisfying existence.

The list can be expanded or made more granular and that's fine.

It's your life. Enjoy it.
Should be a sticky

Well said brother
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Old 20 February 2019, 12:30 PM   #130
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Should be a sticky

Well said brother
Thank you!

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Grady:
I do like your formula, worthy of borrowing to facilitate my gradual return to a straighter, more wholistic road from the left turn fate handed me.

Thank you,
DM
Good luck on your journey!
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Old 20 February 2019, 03:47 PM   #131
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Originally Posted by GradyPhilpott View Post
I retired at 58, which isn't all that early, but what I learned in the time that I have been retired is that the activities that you engage in are immaterial, as long as those activities provide the following, beyond the basics of food, clothing, and shelter:

Structure
Social interaction
Personal challenge
Exercise
Fun

I feel that any set of activities that provide those functions will lead to a satisfying existence.

The list can be expanded or made more granular and that's fine.

It's your life. Enjoy it.
This is why it’s good to learn from others experiences. Thanks for posting, Grady.
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Old 22 February 2019, 04:49 PM   #132
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Retiring early is good if you do have interests you would want to persue, if not , it gets boring?
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Old 22 February 2019, 05:01 PM   #133
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I retired at 49...if i had to do it all over again i should have worked to 55 an then retired.
I could have added 6 years more to IBM's stock purchase and my IRA account.....
Mistake number 2 was thinking CD rates would never drop bellow 4 percent...i even knew it could goto 3.5 and we would still be ok.....but look what happened.
Mistake number 3 not accounting for my wife dying last year and lost over 1/2 income... now im 61 in very poor health....could not work if i wanted to and money is running low from paying thousands upon thousands of doctor bills and pills for my wife....im sure way over 150k out of pocket. I can start drawing on S.S. this Oct when i turn 62 my wife was almost 10 years older....and lost her S.S. and her Wells Fargo Pension.
Im going to sell house this spring or try and move into a asst living which is expensive to me anyway......but dont have much choice and hope i die before i run out of money....which could happen in about 16 years.
I thought i had it all planned out at 49....plus i thought i had enough cash which i did.....but you never know what can happen....to much cash is never enough.
I watch lots of TV....and involved with Mustang owners club which im acting VP this year...takes up big blocks of time. Plus going to doctors every week.....seems like i spend my life in a doctors waiting room now.


so lets get this straight, you have a property you own outright, and 16 years worth of money in the bank. Try and be a bit more optimistic.
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Old 22 February 2019, 05:30 PM   #134
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so lets get this straight, you have a property you own outright, and 16 years worth of money in the bank. Try and be a bit more optimistic.
And a nice Mustang
Don't forget that in many other countries people have much less and survive
Anyway, enjoy your life.
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Old 23 February 2019, 12:26 AM   #135
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A couple of helpful calculators for those considering early retirement. The 2nd one which gives you a Rich, Broke or Dead? calculation can help put things in perspective.

https://www.firecalc.com/

https://engaging-data.com/will-money-last-retire-early/
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Old 24 February 2019, 02:14 AM   #136
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A friend of mine had cancer last year. And he fought it off... but he told me his 1 month hospital stay was $750k.

Another friend he makes about 700k per year. His wife is sick and he told me even with cigna, he has eaten up into his savings pretty aggressively.


These are the things that frighten me from actually retiring fully.
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Old 24 February 2019, 02:40 AM   #137
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A friend of mine had cancer last year. And he fought it off... but he told me his 1 month hospital stay was $750k.

Another friend he makes about 700k per year. His wife is sick and he told me even with cigna, he has eaten up into his savings pretty aggressively.


These are the things that frighten me from actually retiring fully.
Again, I just can’t comprehend these costs...

I’m truly sorry to hear about your friend and I hope the cancer is gone for good.
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Old 24 February 2019, 02:43 AM   #138
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I’m just curious ... what happens if you can’t afford health care?

Is there a system in place to help those who can’t afford it?
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Old 24 February 2019, 03:54 AM   #139
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I’m just curious ... what happens if you can’t afford health care?

Is there a system in place to help those who can’t afford it?
Only if you are very low income.
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Old 24 February 2019, 04:04 AM   #140
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I'm approaching 50yrs old in Nov and can retire if I choose. I'm fortunate to be in a profession that provides a pension so income will continue as usual. When I consider that I will get paid the same net amount when retired as I do working full time, I really can't justify staying any longer. That and I've been given an opportunity to do something completely different on top of it.

I will admit, though, that I'm a bit scared to leave my current profession as I've done it my whole life.

Interesting topic and I've enjoyed hearing from others already retired. It seems ones personality really is what dictates whether they need to keep working after they are financially able.
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Old 24 February 2019, 04:23 AM   #141
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A friend of mine had cancer last year. And he fought it off... but he told me his 1 month hospital stay was $750k.

Another friend he makes about 700k per year. His wife is sick and he told me even with cigna, he has eaten up into his savings pretty aggressively.


These are the things that frighten me from actually retiring fully.


These are the things that remind me that life is short and there's no point in spending all of it working.
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Old 24 February 2019, 04:27 AM   #142
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These are the things that remind me that life is short and there's no point in spending all of it working.
True. Or worrying and worshiping money.
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Old 24 February 2019, 05:15 AM   #143
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Been an interesting thread this to follow.

My Dad retired at around 54-55 i think and is 82 this year. My Mam died 13 years ago which was a massive blow to him, to us all really.

They had some nice plans ahead of them

We did worry about how he would cope without her. Considering he had never been in a supermarket! In fact on his first trip into the world of food shopping in probably 50 years, he went to the customer service desk and handed the lady his list.

But he has done really well. The trip to McDonalds drive through with the Grandkids is another legendary family story and is probably still used by McD's as a training tape.

Always been fit and active, really only this past year he has slowed down a little.
Hung up his guns last year, but still has a walk around the fields most days just to check them. Thermos Flash of tea and his lunch in his bag.

Saying that i caught him last month loading 3ft diameter beech logs into the back of his land cruiser using a little ramp and pulley he had made. I struggled to lift them, was like Dad really.

Loves chopping his own firewood, to the point my son and myself have to nip in quick to sort the heavy work out.

We processed around 12 ton for him, but he insisted on carrying his fair share to the wood store and stacking it.

Loves carving walking sticks and has a great workshop for that.

Anyways his mantra for retirement was, put away enough money so that your lifestyle goes up rather than down upon retirement. Then put a little more away for the just in case times.

Live life to the full, be social, active and keep your mind engaged. Oh and enjoy a good glass of Malt in front of the fire thats burning the wood you cut yourself.

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Old 24 February 2019, 05:43 AM   #144
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its all very well talking about retiring, but you need mountains of money to do this,

what if you live to 90 and you retired at 60,

i say unless you are loaded, keep working.
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Old 24 February 2019, 05:50 AM   #145
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its all very well talking about retiring, but you need mountains of money to do this,

what if you live to 90 and you retired at 60,

i say unless you are loaded, keep working.


True. This is why I choose a job with a pension.

I make much less than many people here I’m sure but at least I know the money keeps coming when I stop working.






This watch game is making me crazy
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Old 24 February 2019, 06:38 AM   #146
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I’m just curious ... what happens if you can’t afford health care?

Is there a system in place to help those who can’t afford it?
If you are poor, there are government programs to cover most costs. If you are middle class and have immense medical bills, you spend all your assets trying to pay off the bills and likely go bankrupt when you run out of money.

Air ambulance costs have been the subject of legislation attempts in North Dakota. Efforts to cap bills have failed. One example cited in the discussion was a person who's air ambulance bill from Florida to North Dakota was $530,000. The person is on the hook for the bill, as insurance will generally only cover the cost of ground transportation to the closest hospital.
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Old 24 February 2019, 09:35 AM   #147
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it doesnt sound like the country i was told that it was

it seems like people are being subjected to a racket.

This is how it comes across, 'so i worked my guts out all my life, paid my dues, played by the rules, managed to make a few dollars despite all the shi*, but i got ill, and using an air ambulance bankrupted me in the space of a few hours.

Bloody hell.
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Old 24 February 2019, 09:46 AM   #148
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it doesnt sound like the country i was told that it was

it seems like people are being subjected to a racket.

This is how it comes across, 'so i worked my guts out all my life, paid my dues, played by the rules, managed to make a few dollars despite all the shi*, but i got ill, and using an air ambulance bankrupted me in the space of a few hours.

Bloody hell.
Healthcare in the US is a racket..
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Old 24 February 2019, 10:12 AM   #149
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it doesnt sound like the country i was told that it was

it seems like people are being subjected to a racket.

This is how it comes across, 'so i worked my guts out all my life, paid my dues, played by the rules, managed to make a few dollars despite all the shi*, but i got ill, and using an air ambulance bankrupted me in the space of a few hours.

Bloody hell.
That sums it up.
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Old 24 February 2019, 03:36 PM   #150
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so lets get this straight, you have a property you own outright, and 16 years worth of money in the bank. Try and be a bit more optimistic.
well yes i own my home but 16 years worth of USING money with not much income plus the last 2 years of my wife life ...hospital bills....pills...doctors used up a good deal of our nest egg.....The old saying holds true as long as you have your health you have everything....when you have muti health issue like me and my wife did ....20 million wont do me/us much good.
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