retirement

[fj40]

OK. KDM's post got me thinking. I'm going to retire around the 1st of July. I turn 65 on June 1. I have been bombarded with offers to make my life great with Medicare supplements but I'm not smart enough to wade through the bullshit. Any of you old guys gone through this and what is your advice?

 

[campcook]

Check out United Health through AARP. My ,monthly premium is $202. the coverage is exceptional when combined with Medicare.

 

[Ponyroper]

I retired at 62 with my employers paying their share of my BCBS for as long as I don't cancel it. I turned 65 last fall and since I have that BCBS I figured I wasn't going to take Medicare Part B as it covers most of the same stuff that my BCBS covers and why should I pay for the same thing twice. You are automatically covered by Medicare Part A for free when you turn 65 and you need to evaluate your own situation to decide if you will need the medicine coverage. I think that is Part C. With my coverage and situation I decided that I didn't need the extra coverage or a supplemental policy. Every situation may be different so you need to look at what you may need in the future and what your current policy will provide. I think a lot of people have overlapping coverage and don't know it.

 

[Twitch]

Pm sent

 

[BDub]

I'm 65 this summer so I am being bombarded with mail for the choices. I'm just not ready to retire yet so am sticking with just plan A. I've been told that with the cost of my meds I will need a good plan. For now my insurance is very good. I will probably be working for a long time. I enjoy working.

 

[2400]

You mentioned in a thread you were in the military. Are you service connected for anything?

 

[fj40]

24, just the basics. Not disabled. Local VSO is doing a little digging. With the limited resources available to the VA, I'd hate to use something that could go to someone who really needs it.

 

[Mocha]

Im not usually a big advocate to run to the nearest insurance agent but in this case it is well worth it. We are blessed to have two VERY good agents that live in our small town one of which is the agent for my parents. My Mother went through kidney cancer twice in the last five years and the agent was right on top of what was going on with my Mother and was able to change my Mothers plan before the surgeries and then change back to their normal coverage afterwards. Saved my parents $1,000s of bucks! Also I am hearing from $110 to $225 range for med subs in our area.

 

[eyexer]

I wouldn't go buy any insurance policy until you retire given the pending legislation in DC. See how that plays out long as you can

 

[Norske]

We have Rx drug coverage through my former employer's medical plan. Medicare supplement requires some thought. Since we knew we were going to travel out-of-country, we chose BCBS plan F. It will pay for emergency services in Canada, then our Good Sam traveler's insurance covers the next $10,000.

 

[love2hunt]

Not to change the subject to much but has anyone on here figured out a way to retire early, i'm talking mid 50's by your own investments and savings? If so how do you like it? I have a long ways to go but my goal is to retire early like everyone else and live pretty cheap until roth and 401k kick in. Just curious to hear from the people who have been able to do so and what the pros and cons are

 

[remm]

Stay single and don't have any kids. Could live in a giant garage with modest living quarters and retire at about 45 years old. If you already have the wife and kids, good luck with the early retirement.

Not to change the subject to much but has anyone on here figured out a way to retire early, i'm talking mid 50's by your own investments and savings? If so how do you like it? I have a long ways to go but my goal is to retire early like everyone else and live pretty cheap until roth and 401k kick in. Just curious to hear from the people who have been able to do so and what the pros and cons are

 

[db-2]

i am 70 and still working. One too many kids and one too many beers. But it was a great ride sofar. Boss told me he is interviewing and i may be gone next week. In time to go north looking for sheds.

Boss pays medical but sign up for the stuff and supplement with blue cross. Saved him a bunch each month for the premium. My supplement is 177 and wife 144. SS was reduce by 104.90 for each of us. Got drug coverage from Humanna($59 for each) which is a joke and need to find other. Am a veteran and do need to find out what they provide but been told my income is to high, will see.

But this medicare pays great and little out of pocket. Wife had two eye cats this month and I think the bill was like 7000 and we paid less than 100. I believe our deducted is like 180 a piece for the year. I used a little and they paid all. Wife is 66 and signed up at 65. Been good so far.

No big deal just went to SS office.

By the way in my humble opinion the earlier retirement was not for me ( as i did not do it). A lot of beer to drink versus putting all those funds into savings. Very little 401 for me from an employer and started really savings at 66 and putting monies away as there was finally monies to do that with along with paying off debt. The monies were not there earlier to work with. Needed to feed the kids and college and other things.
A friendly advisor of mine said with what i got i can make it to 90 with a salary of 84000 adjusted each year at 2%. My plan was to make it to 80 when i may not be dead by really am dead by sitting in that there home. So be careful of the goal of retiring at 55. Great if you do but one can miss a lot along the line ( a lot of experience to put in the memory bank instead of cash in the bank).
And kids, well the kids were fine and the grandkids make our day.
So balance it out with what you want. Remember what you thought when young does change as one gets older. Sometimes risks are good for the soul. Goal setting is good but just never got around to it when young. Birth control was whatever came and the same with a lot of it. As it is what I got I feel it was just fine. No regrets and no pills at this time for me or the wife. she has been there for 46 years. db

 

[campcook]

Retirement's not what it's talked up to be. I'm 74 and still work 20 hrs a week and feel good about it. I tried the morning coffee clatch years ago but gave it up. Geezers sitting around complaining about their physical maladies and Gov't screw-ups put a damper on my mood.
Now, if we can just talk Mark into opening up the sporting clay range for a 7:00 am shoot one day a week I'd bring the muffins.

 

[LBrandt]

68 and don't plan totally quiting for a while yet. Those who quit and do nothing are pounding nails in the coffin.

 

[fj40]

Oh, I plan on doing something. Gotta have a reason to get up in the morning, but 40 years in law enforcement is enough.

 

[johnr]

I have one of those morning coffee buddies, he is only 62, and has been in the coffee club for several years now. They get to the destination around 830 am, and sit and gripe for around an hour.
He is now about the most negative guy I know. After the coffee hour the rest of the day is spent bumbling around his shop, and napping.

Really takes the life right out of a guy.

Make sure when your day of retirement comes, you have some hobbies, and plans for yourself. Its a terrible thing to waste your "golden" years on a whole lot of nothingness.

 

[db-2]

I was just going through the bills for her eyes. It appears the hospital was 3410 all paid and the eye doctor was 3214 all paid for one eye. Just did her second so will be getting that bill soon. so when I stated 7000 for two eyes it appears I was off by 50%. db

 

[USMCDI]

Not to change the subject to much but has anyone on here figured out a way to retire early, i'm talking mid 50's by your own investments and savings? If so how do you like it? I have a long ways to go but my goal is to retire early like everyone else and live pretty cheap until roth and 401k kick in. Just curious to hear from the people who have been able to do so and what the pros and cons are

Ha, join the military find a career minded woman in the military, marry her, work hard and get to the top of the pay scale and retire, really retire. It's easy but you have to start at 21 or so and give 30 hard years but it's worth it!

 

[ItemB]

I wish the system or I had enough money to do retirement this way, work around 10 years out of college or after high school, then retire around 30 for 20-30 years then go back to work around 55-60 till the big guy above called. I got a lot of hunting, fishing, running around and other things to do now and work gets in the way.