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Raoul

Retirement?

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Well I spent the day looking at retirement projections, health insurance, and medicare. If the pandemic hoopla wasn't bad enough now I'm really in a jovial dam n mood...

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Retirement was the best thing that ever happened to me. You'd be surprised at how quickly you can get used to not working for a living. 😉

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Haha. Retirement isn’t going to happen for me. I’m gonna work until I’m dead. 

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The chances of my wife and I retiring were destroyed in the 2009 crash. We'll have to work until we just can't physically do it anymore. 

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What's sad is that I'm seeing a lot of people that set aside money and are retiring from their careers, but having to keep working a job like Starbucks, just so they can have health insurance until they are old enough for Medicare. I cannot even imagine how much health insurance is going to cost in 20 years when I'll be hoping to retire. It's already ridiculous. 

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7 minutes ago, Erik88 said:

What's sad is that I'm seeing a lot of people that set aside money and are retiring from their careers, but having to keep working a job like Starbucks, just so they can have health insurance until they are old enough for Medicare. I cannot even imagine how much health insurance is going to cost in 20 years when I'll be hoping to retire. It's already ridiculous. 

For as much as I hate the idea, I’m pretty well convinced that medicare for all is inevitable for that reason. 

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Just now, Chucktshoes said:

For as much as I hate the idea, I’m pretty well convinced that medicare for all is inevitable for that reason. 

Beginning at age 50 with 100% coverage, I wholeheartedly agree. 

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31 minutes ago, Grayfox54 said:

Retirement was the best thing that ever happened to me. You'd be surprised at how quickly you can get used to not working for a living. 😉

You're probably right, but I've been self employed for so long It's gonna take some time to adjust.

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4 minutes ago, Erik88 said:

What's sad is that I'm seeing a lot of people that set aside money and are retiring from their careers, but having to keep working a job like Starbucks, just so they can have health insurance until they are old enough for Medicare. I cannot even imagine how much health insurance is going to cost in 20 years when I'll be hoping to retire. It's already ridiculous. 

Health insurance is what makes people work longer than they want. I truly wish that retiree heath care were more affordable so that people could enjoy their golden years in comfort doing things they enjoy instead of working.

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Just now, Chucktshoes said:

For as much as I hate the idea, I’m pretty well convinced that medicare for all is inevitable for that reason. 

My wife and I are healthy, and we currently pay close to $6,000/year just to have insurance. That doesn't even touch what we would pay if we actually had to use it. Us young people are essentially subsidizing the older crowd which I understand. 

If you told me I could pay $5,000 year in additional taxes that would actually cover all my medical expenses, but would eliminate what my employers currently take out of our checks, I would consider that a net win. So far, the math I've seen hasn't added up though. There is no way they can just tax the rich. We would all have to pay for it. And that includes the 45% that don't pay any federal income tax. They would have to chip in. 

Employers should have never been the ones paying for this. The whole thing is just so messed up and I hate that the 2 parties can't even discuss it rationally. 

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6 minutes ago, Links2k said:

Health insurance is what makes people work longer than they want. I truly wish that retiree heath care were more affordable so that people could enjoy their golden years in comfort doing things they enjoy instead of working.

The "sad" part is that I've really enjoyed my profession.

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40 minutes ago, Chucktshoes said:

Haha. Retirement isn’t going to happen for me. I’m gonna work until I’m dead. 

Man you are not that old. It's never too late to start saving for retirement. Every so often there is a thread on reddit asking older people what they wish they had done differently. They number 1 answer is always "I wish I had saved more money". Number 2 is "I wish I had taken better care of my health". Sad how those 2 are directly related. 

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I get to retire 5 years after I am dead......

Seeing the costs my Dad paid to keep my Mom on insurance after he retired, I know there is no way. I think it was in excess of $900 a month. He still ran basically a full time job doing landscaping just to cover that.

With my bounced around 'career' I have only been able to build so much of a 401k. Hopefully we will not still have a mortgage and the kids will be on their own, but there is no guarantee in any of that. All it takes is one bad medical issue and all your savings is gone. I like eating, so makes me nervous. 

 

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43 minutes ago, Erik88 said:

My wife and I are healthy, and we currently pay close to $6,000/year just to have insurance. That doesn't even touch what we would pay if we actually had to use it. Us young people are essentially subsidizing the older crowd which I understand. 

If you told me I could pay $5,000 year in additional taxes that would actually cover all my medical expenses, but would eliminate what my employers currently take out of our checks, I would consider that a net win. So far, the math I've seen hasn't added up though. There is no way they can just tax the rich. We would all have to pay for it. And that includes the 45% that don't pay any federal income tax. They would have to chip in. 

Employers should have never been the ones paying for this. The whole thing is just so messed up and I hate that the 2 parties can't even discuss it rationally. 

I don’t have insurance. For me to have insurance for my family last year would have been over $26k in premiums plus deductible. 

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I'm done at 60. I watched a guy lose over $100 a paycheck by working. He was in his 80s with 50 years of service. He died within 2 years of retiring.

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11 minutes ago, Chucktshoes said:

I don’t have insurance. For me to have insurance for my family last year would have been over $26k in premiums plus deductible. 

That is absolutely ridiculous...and unacceptable.

Edited by Garufa
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1 hour ago, Chucktshoes said:

Haha. Retirement isn’t going to happen for me. I’m gonna work until I’m dead. 

You know me....I always have song for everything....

 

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Just now, Raoul said:

You know me....I always have song for everything....

 

Me too. Really irritates my family especially now that you can send links via text to the song or video.

However its far better than me calling and singing" been waitin for the bus all day " while you stand at the bus stop 😁

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I am planning to retire in just over a year. I am a little apprehensive about it as it gets closer. I like my job, but can retire with insurance and roughly half my pay.

I figure if I become broke or bored, I can always find something else to do. At least it will be a change.

 

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10 minutes ago, Garufa said:

That is absolutely ridiculous...and unacceptable.

Well, .gov made illegal catastrophic care insurance. It was affordable and what we should all have anyway.

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30 minutes ago, gregintenn said:

Well, .gov made illegal catastrophic care insurance. It was affordable and what we should all have anyway.

This is what I would have if it were a real option. It is exactly what is reasonable for a young-early middle aged self employed person in reasonably good health. Instead the idea is to rape us for all we are worth to subsidize coverage we don’t want or need. As an example, my wife has had her tubes tied and my daughter is 9 years old. We have no need or want for maternity coverage, but must carry it in any insurance plan. It’s stupid. 

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15 minutes ago, Chucktshoes said:

This is what I would have if it were a real option. It is exactly what is reasonable for a young-early middle aged self employed person in reasonably good health. Instead the idea is to rape us for all we are worth to subsidize coverage we don’t want or need. As an example, my wife has had her tubes tied and my daughter is 9 years old. We have no need or want for maternity coverage, but must carry it in any insurance plan. It’s stupid. 

That IS health insurance. What we have today is prepaid healthcare. It is like car insurance paying for tires, brakes, and oil changes.

Some doctors are now advertising menu style pricing for services. I believe this will continue to more and more popular.

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We are actually members of a private clinic in Jackson that offers a prepaid number of visits and discounts on labs another services. 

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1 minute ago, Chucktshoes said:

We are actually members of a private clinic in Jackson that offers a prepaid number of visits and discounts on labs another services. 

Do you like it?

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Yes. We are not heavy users so it works well for us. If we had chronic health issues it would not be a good option. 

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