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Old 03-08-2015, 12:25 PM
 
Location: Mount Airy, Maryland
10,489 posts, read 5,952,316 times
Reputation: 16210

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Quote:
Originally Posted by kletter1mann View Post
This suggests continuing to work after applying for SS. Doing so carries a big hit. Do some careful research first.

Yes please understand the whole picture. If you are drawing SS there is a limit to how much you can work and earn. Go over the limit and they reduce your monthly check. There are also tax issues to consider.

Having gone back and forth on this very issue for years on this board it has become very clear to me that a person should only file at 62 if they have no other financial options or they have a terminal illness etc. If you are working you absolutely should wait to file, the check goes up between 5-8% for every year you wait.
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Old 03-08-2015, 01:03 PM
 
Location: Bay Area, California
118 posts, read 128,293 times
Reputation: 619
I am a 64 year old hospital based RN and I investigated retiring this year, UNTIL I found out that my COBRA for medical alone (don't even mention the absurd cost of dental) would be about $900/month. Just for me! No spouse!

So tho I am very tired after chasing around on my feet for 44 years (we don't have a nurses station or desk, working on portable computers... always standing) I am singing the same song as everyone else my age "We are working for the medical insurance..."
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Old 03-08-2015, 02:01 PM
 
Location: Virginia
8,125 posts, read 12,703,229 times
Reputation: 3772
Quote:
Originally Posted by jane_sm1th73 View Post
Ariadne - OMG! $1000/month???!!! We are well and truly in deep doo-doo as a nation. Time to dust offthose manuals on dual citizenship. I wonder how close (generationally) you need to be to the auld sod?

Terrifying prospect! Thanks for the information. Best, Jane
When teachers retire from the school district where I work, the monthly premium cost for the employee and spouse is about that much, or a couple hundred more. I didn't think it was that unusual.
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Old 03-08-2015, 02:34 PM
 
Location: Colorado Springs
4,871 posts, read 4,979,827 times
Reputation: 17388
I was "retired" prematurely but returned to work at 61 because I could not afford the $2K per month health insurance premiums for my wife and myself. That was with a $2K per deductible.

I really do not think it is feasible for most people to retire prior to getting Medicare at 65.
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Old 03-08-2015, 04:56 PM
 
17,341 posts, read 10,257,192 times
Reputation: 28913
Is moving to another country an option, one that has cheaper medical?
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Old 03-08-2015, 04:59 PM
 
2,620 posts, read 2,531,414 times
Reputation: 7231
Quote:
Originally Posted by Suburban_Guy View Post
Is moving to another country an option, one that has cheaper medical?
By the time I get there, we might all be moving to Canada for the water and nice warm weather.
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Old 03-08-2015, 05:00 PM
 
71,938 posts, read 71,971,035 times
Reputation: 49502
Nothing live having a guy in a loin cloth dancing around you with a bone and fire when you are sick.
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Old 03-08-2015, 05:22 PM
 
289 posts, read 425,490 times
Reputation: 133
Very interesting answers and responses from everyone. Thank you very much. After reading all of the comments I believe my wife an d I will continue to work until 65 and have medicaid! Thanks again everyone!
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Old 03-08-2015, 05:23 PM
 
Location: Coastal New Jersey
56,279 posts, read 54,731,851 times
Reputation: 66814
Quote:
Originally Posted by mathjak107 View Post
Nothing live having a guy in a loin cloth dancing around you with a bone and fire when you are sick.
Works for me.
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Old 03-08-2015, 05:24 PM
 
2,620 posts, read 2,531,414 times
Reputation: 7231
Quote:
Originally Posted by mathjak107 View Post
Nothing live having a guy in a loin cloth dancing around you with a bone and fire when you are sick.
One "R" strategically placed would change this sentence entirely.
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