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Originally Posted by Ariadne22
I do remember that. Let me see, this was a woman who had a long-term personal relationship end, the house in which they lived needed to be sold, she took her share and bought another property with a mortgage, was so traumatized by the loss of this relationship could no longer handle the stress of her job, so 'retired' and didn't have enough income to pay her bills and went through her retirement savings.
Just think of the tax consequences of that?!!!! Money down a rathole.
Suzie's advice - sell the house and move in with your mother. Now, that I agree with. Having been on my own all my life, the very LAST THING I would do if I had been this woman was quit my job. At that point, that was the only security she had.
Some people can be very stupid when faced major life events and bite off their nose to spite their face. So many are still clueless about the limitations of this economy - thinking there will always be a job for them - NOT!!! I don't get it.
This woman will never recover. Best she live with mother going forward and collect SS when she can.
Suze chose to use this woman as an example of the consequences of retiring too early. But this was far from typical. This woman probably had a nervous breakdown because of a bad relationship, and pretty much lost her mind. She went through hundreds of thousands of dollars before thinking maybe she should ask for help.
Yes, retiring too early can be a mistake, but usually is not nearly as bad as that. Suze was just trying to scare her audience into hanging on to their jobs no matter what.
Oh, and I also saw a Suze show where she told her audience they must get to the office early every day and leave late. I just love that advice. When -- I would love to ask her -- are we supposed to do our errands and chores, take care of our health, spend time with our families, etc., if we spend all our waking moments in the office.
Oh, and I also saw a Suze show where she told her audience they must get to the office early every day and leave late. I just love that advice. When -- I would love to ask her -- are we supposed to do our errands and chores, take care of our health, spend time with our families, etc., if we spend all our waking moments in the office.
IIRC, that advice was pointedly given to younger workers, people who were just starting out.
I sometimes have to look at where the advice is coming from. Suze was not married and did not have children.
Even though she knows others have responsibilities, it is not until you have them that you really understand. You might be married to someone who is helpful, shares household chores, have kids willing to chip in all the time and then maybe not - you may have a child with ADHD or autism.
From that angle, I take her advice with a grain of salt. When my husband started in his career, he was single and he travelled all the time. When he got married and had children, the travel requests stopped and he worked out of the corporate office more. He did go in early and stayed late - all the time - then after 12 years, he resigned and became self employed. Still is. Still goes in early, works late (in fact, we both do) but her children are now young adults but when they were younger, we were with them b/c they were our priority.
I enjoy Suze's "Can I Afford It" but I know it's all for entertainment!!
I sometimes have to look at where the advice is coming from. Suze was not married and did not have children.
Even though she knows others have responsibilities, it is not until you have them that you really understand. You might be married to someone who is helpful, shares household chores, have kids willing to chip in all the time and then maybe not - you may have a child with ADHD or autism.
From that angle, I take her advice with a grain of salt. When my husband started in his career, he was single and he travelled all the time. When he got married and had children, the travel requests stopped and he worked out of the corporate office more. He did go in early and stayed late - all the time - then after 12 years, he resigned and became self employed. Still is. Still goes in early, works late (in fact, we both do) but her children are now young adults but when they were younger, we were with them b/c they were our priority.
I enjoy Suze's "Can I Afford It" but I know it's all for entertainment!!
IIRC, that advice was pointedly given to younger workers, people who were just starting out.
But I could be wrong
It was for people new to their profession. I applauded when she said this (I watch her show now and then) and thought at the time it was outstanding advice. I managed a great number of GenXers who didn't follow this advice, and showed very little dedication to their work - and suffered the consequences with poor evaluations, infrequent promotions. Those that did exactly what she said moved up quickly.
Congratulations to you! Just a quick question, though. What is your strategy with regard to your health insurance?
Thanks for the congrats. My husband is currently on Medicare now with a Blue Cross supplement: his medicare=$1,100 year and supplement=$584 year
He doesn't take any meds.
I am on a BlueCross plan with $2,000 deductible and pay $2,532 a year plus thyroid meds of $15 a month.
On the rare years that I have to pay the full deductible due to some health problem, I then go for all my screenings such as cardio and GI type screenings since I've already paid the deductible, and only pay a minimum for the screenings then.
Our health strategy has been PREVENTION! lol
We are pretty serious about diet and exercise--especially me since I come from very bad health genes in my family. Health has been another area we have had some good luck in although I am starting to see the aging happening pretty quickly now that I will be turning 60 soon.
last nights couple on the show was really screwed up. over 210,000 a year in income and they owed something like 233,000 in consumer debt with 45k of that in credit card debt at 19%.
Thanks for the congrats. My husband is currently on Medicare now with a Blue Cross supplement: his medicare=$1,100 year and supplement=$584 year
He doesn't take any meds.
I am on a BlueCross plan with $2,000 deductible and pay $2,532 a year plus thyroid meds of $15 a month.
On the rare years that I have to pay the full deductible due to some health problem, I then go for all my screenings such as cardio and GI type screenings since I've already paid the deductible, and only pay a minimum for the screenings then.
Our health strategy has been PREVENTION! lol
We are pretty serious about diet and exercise--especially me since I come from very bad health genes in my family. Health has been another area we have had some good luck in although I am starting to see the aging happening pretty quickly now that I will be turning 60 soon.
we were going to retire early last month . im 58 but the medical was crazy. thanks to obama care our premiums shot up to 17k......
thats an hsa. rates for singles are still fine but a family rate jumped a huge amount. because kids are covered until 26 even if they are married that rate is a joke.
its hard to find a husband and wife plan now and not just family.
the insurance for 5k deductable family , 2500 per person in an hsa is 188 a week plus you have to fund 7200 in the hsa account and thats subsidized by my company because im still working. the thing is a single is only 88 a week. thanks obama care.
rates are supposed to come down in january for married couples so we will see then.
because people are living longer
if you can retire early - great
but most of us are expected to live longer than the previous generation
seems like we are all sol with the way the economy has blown the last several years
Unless with the possible loss of jobs, the older folks were probably not affected much by the economy.
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Suze's advice
