Life's Too Short To Just Work It Away - Page 4 - Chevelle Tech
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post #46 of 79 (permalink) Old Jan 20th, 20, 8:26 PM
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Re: Life's Too Short To Just Work It Away

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"Greedy" was a poor choice of a word.

.
naw, I dig it, I know what you mean , because I know you. In my case its as much as having purpose, a gig I like, and not being ready emotionally or financially yet, I hope you can ask me in seven or eight years Mike! and that's the most important thing.

Cuisinartvette, dang man, that's a hard row to hoe. I understand your 'tude more now, Sheesh man, keep the faith!
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post #47 of 79 (permalink) Old Jan 20th, 20, 8:37 PM Thread Starter
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Re: Life's Too Short To Just Work It Away

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Those of you that retired early , what do you do for Insurance , I have to be covered until I turn 65 , Im 57 now . I plan to draw my Late Wife's Social Security at age 60 and put it away and draw my own at 70 . I plan to work as long as Im physically able , whatever age that is to have insurance .
When I retired at 62 I just went on my wife's insurance. Now that she just retired we enrolled in a medicare advantage plan.

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post #48 of 79 (permalink) Old Jan 20th, 20, 10:17 PM
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Re: Life's Too Short To Just Work It Away

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Those of you that retired early , what do you do for Insurance , I have to be covered until I turn 65 , Im 57 now . I plan to draw my Late Wife's Social Security at age 60 and put it away and draw my own at 70 . I plan to work as long as Im physically able , whatever age that is to have insurance .
Affordable Care Act, ie, “Obamacare”, thru Covered California. There are no other options because my former employers Cobra was only good for a year and SUPER EXPENSIVE. My wife never worked.
We have the “Silver Plan” which is lower monthly payments with higher deductibles because we are both healthy (knock on wood). Obamacare mandates that your annual physical is free and that’s pretty much the only time we see doctors.
My wife turns 65 in February so she’ll be off Obamacare and onto Medicare. I’ll stay on Obamacare for another 2.5 years until I turn 65.
With my wife going onto Medicare our monthly premium is going UP. A LOT. That’s the one drawback I’ve found to Obamacare is its only good until your 65 then a Medicare is the next step.
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post #49 of 79 (permalink) Old Jan 21st, 20, 9:52 AM
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Re: Life's Too Short To Just Work It Away

This has become the "fly in the ointment" of early retirement planning. You have to set up an insurance bridge to age 65 , when we all get SOCIALIZED medicine.

The one story I have is from a client, whose 61 yr old friend retired from a health insurer, ironically. She developed breast cancer w/o medical insurance and it wiped out her 401k. ( I would have encouraged her to declare bankruptcy and preserve the pension but...)

I always ask if they can get it through the spouses employer, or you have to buy health insurance outright on the exchanges. You CANNOT retire early without coverage, one slip and fall could decimate you. Our medical system is a series of folks with outstretched palms looking to shake you down as they attempt to fix things. Its an irrationally priced market, hence like it or not, you need an intermediary.
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post #50 of 79 (permalink) Old Jan 21st, 20, 12:58 PM
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Re: Life's Too Short To Just Work It Away

Thx 427....was blacked out that night, gotta knock that stuff off. lol

Never again til the next time.
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post #51 of 79 (permalink) Old Jan 21st, 20, 1:02 PM
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Re: Life's Too Short To Just Work It Away

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Those of you that retired early , what do you do for Insurance , I have to be covered until I turn 65 , Im 57 now . I plan to draw my Late Wife's Social Security at age 60 and put it away and draw my own at 70 . I plan to work as long as Im physically able , whatever age that is to have insurance .
Cutoff for medi cal in CA is 1437 a mo I think
Dont know about Medicare, look into it

Ins keeps most working til they drop. Paying 1900 a mo now!
someones gotta pay for the illegals and drug addicts out there.

Covered Ca plans, better read the fine print good luck.
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post #52 of 79 (permalink) Old Jan 21st, 20, 1:03 PM
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Re: Life's Too Short To Just Work It Away

Funny thing, I used to have a "beer full of fridge" until my father and brother-law went into recovery. The next time is a meeting!~ It works for many.


PS, I took a part time gig teaching at a state school for health insurance. I may have to stay in NY until I'm 65 anyhow, property in Colorado is more expensive. and I sure as heck dont plan on staying in NY.

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post #53 of 79 (permalink) Old Jan 21st, 20, 1:08 PM
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Re: Life's Too Short To Just Work It Away

I work for the state of NM and am eligible to retire at 75% of my highest average pay at the end of October of 2020 for 25 years of service. I will be turning 50 at the end of this month. I can not afford to retire on 75% of my current income due to having one child in college out of state and two younger children at home.
Another big deterrent is family health insurance.
I am planning on either staying another 2 years +/- to be eligible for 80% or start drawing on the 75% and find another job elsewhere and draw two checks.
I do not plan on working much longer than 55 years of age if I can afford to. I feel that we only go around once so we must enjoy life now while we are still healthy, both mentally and physically. Like they say, we do not take any material wealth to the grave.
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post #54 of 79 (permalink) Old Jan 21st, 20, 1:12 PM
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Re: Life's Too Short To Just Work It Away

427 blew 27 yrs....never once thought about it til i lived with chronic pain. It only helps temporarily but once in awhile sure helps getting away from it
Not sure if I have the stomach to go back to those meetings.

Buried waht would have been my FIL a few mos back. He worked, stole saved a lot
6 mos after he retired, wrote a ck for a new home, truck etc had a stroke. Then another..then a heart attack.
All that money did him no good....eve befire he died he was again asking about money, he didnt take it with him
Never met anyone that cheap in my life.
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post #55 of 79 (permalink) Old Jan 21st, 20, 1:26 PM
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Re: Life's Too Short To Just Work It Away

well, that long run track record does catch up with us. And I go back to my new bud Louie, who went clean so he can FINALLY enjoy life and not work like a stiff. 51 is still young man. I used to get laid once in a while when I was 51.

WAIT! I'm supposed to give you stuff to look forward to, not suffering the next five years with A MENOPAUSE VICTIM as a partner.

See it aint that bad man!
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post #56 of 79 (permalink) Old Jan 21st, 20, 1:55 PM
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Re: Life's Too Short To Just Work It Away

One Im with stopped putting out the day we moved in. Not once..funny how that works

Will be taking 1/2 the retirement about monthly so I can use Medi Cal
Othewise Id recieve nothing except a 400/mo bill to be insured.
Theres always something good just have to look for it.

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post #57 of 79 (permalink) Old Jan 21st, 20, 3:44 PM
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Re: Life's Too Short To Just Work It Away

Many of those congress critters keep working because they need to be there to keep all the skeletons in the closet covered.
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post #58 of 79 (permalink) Old Jan 21st, 20, 5:43 PM
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Re: Life's Too Short To Just Work It Away

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You CANNOT retire early without coverage, one slip and fall could decimate you.
Why is it that the simlple words of common sense quoted above don't sink into the heads of so many people? I don't know if I should laugh or shake my head when I hear: "I don't need no stinkin insurance, F' the individual mandate in Obamacare. If someone in my family gets sick I will get a second job". Keeping merits AND flaws of Obamacare aside from the discussion that statement expresses is the most brain dead attitude I have EVER heard expressed.

I had surgery a few years ago and with just a MINOR post surgery imaging test I burned thru $1800 in TWENTY MINUTES. That is right I said 20 MINUTES. I had private insurance at that time (non Obamacare) and I was paying $1200 / MONTH for me alone. Anybody who thinks they can handle the costs of todays care with a "second job" need their heads examined.

Maybe people who think that way just figure they will default on the bill(S) and the providers will off load the cost of thsoe w/o insurances onto the bills of those of us who have coverage? That seems to be the sense I get watching the "I don't need no stinking insurance jamed down my throat" folks.
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post #59 of 79 (permalink) Old Jan 21st, 20, 6:32 PM
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Re: Life's Too Short To Just Work It Away

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Originally Posted by FLASHED View Post
Those of you that retired early , what do you do for Insurance , I have to be covered until I turn 65 , Im 57 now . I plan to draw my Late Wife's Social Security at age 60 and put it away and draw my own at 70 . I plan to work as long as Im physically able , whatever age that is to have insurance .
I drew on my wife’s SS until I turned 70 and started drawing mine.

Since she has Teachers Retirement, she could not draw on the title she had built up before her teaching career.

I got $109 a month.

Be warned if you continue to work after retirement age if you want Medicare. Depending on your income, plan B and C have a substantial modifier that increases your cost.

As an example, if I chose to enroll in plan B or C, I would have to pay an additional $325 a month.

I just stay in plan A and rely on my regular Health Insurance through my business.

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post #60 of 79 (permalink) Old Jan 21st, 20, 7:42 PM Thread Starter
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Re: Life's Too Short To Just Work It Away

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I drew on my wife’s SS until I turned 70 and started drawing mine.

Since she has Teachers Retirement, she could not draw on the title she had built up before her teaching career.

I got $109 a month.

Be warned if you continue to work after retirement age if you want Medicare. Depending on your income, plan B and C have a substantial modifier that increases your cost.

As an example, if I chose to enroll in plan B or C, I would have to pay an additional $325 a month.

I just stay in plan A and rely on my regular Health Insurance through my business.
Both my wife and me have to pay $144.60 each now for Part B out of our SS checks. As long as you had insurance after you applied for Medicare Part A there is no penalty when you enroll in Part B. We're lucky because her company allows each of us $2400 a year towards Medical expenses but you can not use it on everything.

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