Been 3 years

[db-2]

Been a full three years now for the wife and me in retirement. Age 76 and 72.
Have the normal ups and downs one has and for the most part our health is as it was at the beginning of 2022. Sometimes it seems like we have more than our share of down with life but that is not true.

SS income and some funds from the time in Vietnam (total 5000) have kept the checking account at the same balance as we started this past year. That income is now about $5,900 monthly. Bills of health insurance of 1,000, other insurance of 450, electricity of 350, water of 125 and tv/phone of 300 for 2,225 leaving 3,600 or about 100 per day each month. Not sure where that goes but it does go. Gas as a lot of trips to the grandkids.

At one time my one main concern was once we retired was having sufficient funds to do what we wanted to do. I knew i would have more to do than time allow for me.
Out of debt at age 66 and at that time the bulk of our funds were acquire from 66 to 73 when i retire. 77% of that is in cash (cd, checking, cash around house) with 23% i gave to Ed Jones and Jackson to invest. Those funds lost $11,000 this year and if it gets back to what in was at the beginning of the year, they will be cashed into CDs.

Wife will take your annual trip with daughters and this year to Olando. For me a week trip to northern Canada for shed hunting.
Got a trailer for bike and need to put hitch on. Told wife we are going to take more trips this year and she said not long ones anymore. Maybe a newer Dodge pickup. Hopefully, I will at least take the bow off the wall next fall and buy the two guns i have wanted for a number of years.

Got older and concern comes from what is all going on and we are trying to ignore all this crab and live out an old age. Need to find a place to die and be bury at. Had additional funds set aside for the two of us for the burial so that is taken care of. Kids do not need to help out on that. Need to make a will.

So, I again commend those who planned accordingly and were able to retire at age 50 or earlier as we did not. One to many beers, to many moves and one to many kids. But it was good with a lot of memories. Hope they keep making Old Mill but the other night they did run out in our local bar.

My advice from an older one, live for today, plan for tomorrow and somehow it does work out. db

 

[Happycamper]

Once you are debt free it's pretty easy to manage your $$ if you have good supplimental insurance and don't eat rib eye and shrimp too often. That said we don't want for anything. I get annoyed with Midco and the SOS movies but subscribed to Paramount Plus and have a grandson skating with the Provo Utah Preditors and am able to stream his games. I made sure the kids had a Roth IRA as teenagers.
End of life issues are taken care of and pre-paid and vets benefits will bury both me and the wife. I have given away my guns and sporting gear to youngsters who hopefully will appreciate them.
That's it, a life well lived but fear for our grandkids given the BS this current Administration is subjecting us to.

 

[1lessdog]

SS income and some funds from the time in Vietnam (total 4500) have kept the checking account at the same balance as we started this past year. That income is now about $5,900 monthly. Bills of health insurance of 1,000, other insurance of 450, electrify of 350, water of 125 and tv/phone of 300 for 2,225 leaving 3,600 or about 100 per day each month. Not sure where that goes but it does go. Gas as a lot of trips to the grandkids.



You pay 1000.00 a month for health care at age 76 and 72?? I checked on insurance for myself once I can get medicare and a supplement care at just over 200.00 at age 65

 

[db-2]

1 less dog:
i made a mistake on the 4500 as i looked again and it was 4900 per month before SS deduction. My bad.

But for the two of us i write a check each month now for $517.50 for blue cross supplement and soon for $61 for dentist. On my SS check they deduct 205 out and for my wife they take the same amount of 205 for medicare and part d. So, 517 + 205 +205 for $927.
It is what it is and not sure how i could lower that. db

 

[db-2]

I did dig out my recent letter from SS and see for 2023 the SS deduction will go from 205 to 203. db

 

[snow]

Been a full three years now for the wife and me in retirement. Age 76 and 72.
Have the normal ups and downs one has and for the most part our health is as it was at the beginning of 2022. Sometimes it seems like we have more than our share of down with life but that is not true.

SS income and some funds from the time in Vietnam (total 5000) have kept the checking account at the same balance as we started this past year. That income is now about $5,900 monthly. Bills of health insurance of 1,000, other insurance of 450, electricity of 350, water of 125 and tv/phone of 300 for 2,225 leaving 3,600 or about 100 per day each month. Not sure where that goes but it does go. Gas as a lot of trips to the grandkids.

At one time my one main concern was once we retired was having sufficient funds to do what we wanted to do. I knew i would have more to do than time allow for me.
Out of debt at age 66 and at that time the bulk of our funds were acquire from 66 to 73 when i retire. 77% of that is in cash (cd, checking, cash around house) with 23% i gave to Ed Jones and Jackson to invest. Those funds lost $11,000 this year and if it gets back to what in was at the beginning of the year, they will be cashed into CDs.

Wife will take your annual trip with daughters and this year to Olando. For me a week trip to northern Canada for shed hunting.
Got a trailer for bike and need to put hitch on. Told wife we are going to take more trips this year and she said not long ones anymore. Maybe a newer Dodge pickup. Hopefully, I will at least take the bow off the wall next fall and buy the two guns i have wanted for a number of years.

Got older and concern comes from what is all going on and we are trying to ignore all this crab and live out an old age. Need to find a place to die and be bury at. Had additional funds set aside for the two of us for the burial so that is taken care of. Kids do not need to help out on that. Need to make a will.

So, I again commend those who planned accordingly and were able to retire at age 50 or earlier as we did not. One to many beers, to many moves and one to many kids. But it was good with a lot of memories. Hope they keep making Old Mill but the other night they did run out in our local bar.

My advice from an older one, live for today, plan for tomorrow and somehow it does work out. db

Good read db...retired last sept,no family left losing the few ppl I consider friends almost monthly it seems,new pup keeps me entertained and busy,losing my 10 yr old pup last November has me grieving still,thankfully few expenses ,house paid for,chipping away at my bucket list of things to do while my body holds up.

Made peace with my age and accepted my life is coming to an end wake up everyday so far is a blessing.

 

[Davey Crockett]

Life is Good. I wasn't sure if I'd like being retired but I sure do. I thought about it a lot on yucky days when I was working outside , I told myself many times this better be worth it someday. It seemed like that day would never come and then Boom , just like that it did. If any of you dread going to work some days just daydream about the long run.

 

[Happycamper]

Our supplimental Ins with United Health through AARP runs $418 a month. I've been getting poked, prodded. scanned, ect on a regular basis the past year and a half and only had 1 charge for $18 in all that time. I'd be in the poor house w/o the suppliment to medicare.

 

[LBrandt]

I have part A and part B. Part B cost this year will be 164.00 I think and I have a part N commercial Ins that cost me 138. per month. Last years cancer billing was close to 250,000 and my out of pocket was less than 1 grand. Spent way more on gas driving back and forth to Fargo for treatment. Time is what I really miss. You dont get that back. Second summer in a row that was consumed by health issues and its not over yet. Just would love to be able to sit in the boat for a weekend and feel the sun on my face and a tap-tap on my line. LB

 

[Jiffy]

I personally don't know anyone that has retired at age 50 or younger.

That is definitely not the norm, or maybe I'm just hanging out with the wrong type of people.

 

[db-2]

I have heath care with the VA and could drop my share of the supplement but not comfortable doing that. Would cut my supplement cost by over half.

Wife had cancers and that bill was well in the 6 numbers. Zero cost to us. In fact, i cannot remember any cost to us over the 10 years we been on this.

And i do not know anybody either personally that retire at 50. db

 

[riverview]

only people i know that retired at 50 was because of early retirement 50 and out at a pipeline i worked at. they got rid of everybody over 50 and rehired new employees

 

[BrokenBackJack]

We were told our Medicare cost would decrease this year.
It didn't decrease, ours increased.

 

[LBrandt]

MaMa's got one more year to full retirement and then between her and I will pull down an easy 3 grand a month with out touching our reserves and she still is going to work 2 or 3 days a week for awhile. Pull all the taxes out of her earnings and it will be another 2 grand income. Everything paid for so it dont take a whole lot to live on. Only new purchase will be a new Subaru when she quits full time and we got a slush fund to make up the difference when trading. So it will be heat, lights and tele and some insurance for property and auto. All will be good for what we like to do and then some. Not bad for a couple broke people. LB

 

[db-2]

BBJ:

Ours went down a total of $4 for both.

Yesterday I got the forms off the internet to begin doing the 2022 income tax.
Do keep tract of certain things.
Since 1969 I, the wife and our employers over those years have paid $415,738 into SS. Over the last 11 years we have now collected $447,417, so without considering any return on what we paid in are ahead of the game.
And living to over 100 we should come out good. db

 

[Davey Crockett]

I might have to rethink my strategy after I red how well Medicare pays. I did a comparison a year or two ago and thought sticking with BCBS was our better option. Does it pay a big portion of meds too?

 

[Lycanthrope]

We were told our Medicare cost would decrease this year.
It didn't decrease, ours increased.

Do you regret voting for Biden now?

 

[Wall-eyes]

I personally don't know anyone that has retired at age 50 or younger.

That is definitely not the norm, or maybe I'm just hanging out with the wrong type of people.

I do put they worked for Basin Electric who had big buy out and it was very nice, and they also had good investments too helped. I had hoped to retire at 55 than fuglly stock market and all other bull shit hit. Then like some of guys above health goes to shit; It really is fun right!!!

 

[db-2]

Have two friend who were in highway patrol, both retire in early 50 with about 90% of their salary pension. However, it is my understanding it is not as good now. db

 

[3Roosters]

My .02 to this conversation is this...if you have considerable assets and are insurable, look into Long Term Care insurance. Earlier the better, premium is less(even tho u may not need the coverage for a number of years, if at all). Think SOME newer policies actually have a life insurance benefit if no one uses the long term care portion.