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Old 09-03-2015, 06:56 AM
 
Location: R.I.
984 posts, read 608,186 times
Reputation: 4276

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Quote:
Originally Posted by Submariner View Post
I retired from the US Navy, I pay enrollment fees and co-pays for my healthcare. The fees are not very high, but they do exist.

When I retired we returned stateside and lived near a Navy base. At that location we were required to get all of our healthcare on-base via Military-Medicine for free.

Then we moved away from bases. Now I enroll in a plan and I can go into any doctors office, clinic or hospital anywhere in the nation with this plan. The best part of it is that now all or our healthcare is provided by MD doctors who have completed college, medical schools and residency programs. We are no longer treated by HM Corpsmen.

I have nothing against corpsmen, they were our healthcare for decades. But for some things we really prefer to see MD doctors.

There was a surgery that I needed to have done for many years. A number of corpsmen offered to do it for me, but I just never had that much faith in any of them. Last October I finally had it done, by a civilian surgeon who used the DaVinci robotic assisted surgery machine.
You are fortunate that your copays are not a financial burden for you, but many vets who take a gazillion meds and see specialty VA doctors on a regular basis those copays add up for them. I know several vets that opted out of taking Medicare because they believed the VA would take care of them
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Old 09-03-2015, 07:27 AM
 
Location: Forests of Maine
30,704 posts, read 49,503,410 times
Reputation: 19151
Quote:
Originally Posted by Nightengale212 View Post
You are fortunate that your copays are not a financial burden for you, but many vets who take a gazillion meds and see specialty VA doctors on a regular basis those copays add up for them. I know several vets that opted out of taking Medicare because they believed the VA would take care of them
There is a huge difference between being a vet and being a servicemember.

I only brought it up because you were talking about your father who was a retiree.
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Old 09-05-2015, 07:27 PM
 
Location: Ohio
19,959 posts, read 14,264,832 times
Reputation: 16133
Quote:
Originally Posted by Vision67 View Post
I was surprised to discover that most people in most countries have retired by age 65.

What are your thoughts?
I think you haven't researched the subject enough.

Foreign States are hampered by extremely high perennial unemployment rates.

To get around that, many of those States adopted mandatory retirement ages; implemented Social Security-like programs that are available at earlier ages; forced maximum work weeks, such as 35 hours; or other-wise engaged in creative attempts to "share" jobs, in order to reduce the perennially high unemployment rates (and then of course adopted the US methodology of employment calculation).

The age at which you retire should be based on your own personal needs, and not what people in other foreign States or other people in the US are doing.

Each person's needs and desires are different, but the main issues are retirement income, physical ability and end-of-life goals.

Those who were fortunate enough to have private investments may be able to retire earlier without drawing upon Social Security or their employer-based pension plan.

Some people continue to work out of enjoyment, such as my mother who is 73 and works 30-40 hours per week, plus provides expert witness testimony in personal injury trials, is still on-staff at the local hospital, and travels occasionally. Note that she did not start working until her 40's, so in part she worked to meet and maximize her Social Security benefits.

Obviously, my mother's job is not very physically demanding, so she might work until she has 75 years.

Anyway, the point is you work until you think you have enough money to do whatever it is you want to do while retired, instead of doing what everyone else is doing.
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Old 09-06-2015, 02:15 PM
 
1,734 posts, read 1,952,024 times
Reputation: 3901
Quote:
Originally Posted by Vision67 View Post
I was surprised to discover that most people in most countries have retired by age 65.

Look here: Retirement - Wikipedia, the free encyclopedia

For example, in Germany, only 3% of 65 year olds are still working; in the USA it is 20%

If you have retired already, at what age did you retire?

As for me, I'm 65 now and will be 66 in December but I'm still reluctant to give it up.
My problem is that I like what I do. It keeps me busy and I'm paid well.

However, I'm now reading about friends who have died young and I'm beginning to think that I might regret not retiring earlier.

What are your thoughts?
This is ugly but it has to be said.

Who among us is not feverishly recalculating prospective retirement survivability, given the
market doldrums?

We've been schooled by Mathjak and others about sequence-of-returns risk.

We read Wade Pfau's (and others') learned studies - the conclusion is pretty stark.

In a worst case scenario - protracted slump like we had after 2008 - a margin of safety requires a greater buffer than many of us have. The world is less forgiving than it was thirty years ago.

I'm not after the ol' nest egg lasting till I croak. I'm after leaving something behind so that kidz have a war chest after I'm gone. Based on observation, they'll both use it to advantage.

Given that I'm a "knowledge worker" in tech, I aim to work till I've got that margin of safety (or until I get kicked to the curb, whichever comes first, lol!) I'm thinking it's several years on top of what I had planned, in order to avoid liquidating assets in a negative-return environment. Remaining employed postpones the day of reckoning.
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Old 09-06-2015, 02:33 PM
 
13,979 posts, read 7,446,942 times
Reputation: 25549
Quote:
Originally Posted by jane_sm1th73 View Post
This is ugly but it has to be said.

Who among us is not feverishly recalculating prospective retirement survivability, given the
market doldrums?
I pay more attention to my mother's brokerage account. She is more than 60% in stocks. I've adopted a strategy of liquidating the highest risk things first and liquidating enough to pay her assisted living bills for the year. I'll be selling a chunk the first week of January unless something funky is happening with the market. This is all about deciding when the pay the capital gain tax versus the risk of the market collapsing.

I have more than half my portfolio in cash at the moment waiting for a buying opportunity. I'm not planning to touch the equity part for a decade so I don't watch the stock part of my portfolio very carefully.
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Old 09-06-2015, 03:00 PM
 
48,516 posts, read 84,021,758 times
Reputation: 18050
I personally think retirement age is individual. I know people who will never willingly retire. At retire at 52 but realizes like most things people differ.
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Old 09-06-2015, 03:43 PM
 
Location: NC Piedmont
3,911 posts, read 2,884,049 times
Reputation: 6291
Quote:
Originally Posted by jane_sm1th73 View Post
This is ugly but it has to be said.

Who among us is not feverishly recalculating prospective retirement survivability, given the
market doldrums?

We've been schooled by Mathjak and others about sequence-of-returns risk.

We read Wade Pfau's (and others') learned studies - the conclusion is pretty stark.
One of the few times I feel pretty smart about getting more conservative in my investment strategy. I am only down about 4%. It could get worse, of course. My numbers can work with what I have so I am trying to reduce the risk and accept small gains as the likely result in around 7 years when I retire. I am still maxing out contributions while I can.
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Old 09-06-2015, 07:41 PM
 
1,734 posts, read 1,952,024 times
Reputation: 3901
Quote:
Originally Posted by ReachTheBeach View Post
One of the few times I feel pretty smart about getting more conservative in my investment strategy. I am only down about 4%. It could get worse, of course. My numbers can work with what I have so I am trying to reduce the risk and accept small gains as the likely result in around 7 years when I retire. I am still maxing out contributions while I can.
Beach, very prudent of you.

Personally, I have been plodding along, contributing to the Roth/401K, etc.

During the last crash, I gritted my teeth, closed my eyes, plugged my ears, chanted "lalalalala" loudly whenever the news came on, and muscled through without looking at my statements for years.

Must have been five years, then I changed employers and HAD to look at my statement while picking the round of picks for THAT plan. When I poked my head up from my burrow in the sand, I was heartened to see that the "do not panic, do nothing" articles proved sound. I set up my current asset allocation a year ago, and it's hard not to do "plan vs actual" comparisons.

I'm finding it hard to be aloof this time around, since I've studied up on what I SHOULDA done, lol, and should likely be doing now. ESPECIALLY since the day of reckoning is ?years? closer.

Oh well. In the Plunge Protection Team I will put my trust. The Fed will not go down without a fight. The country needs to preserve the financial system, otherwise Fed Reserve Note's status as global reserve currency is shot. I have a feelin' we ain't seen nothin' yet if that happens - ALL dollar-denominated loans, ETNs and derivatives will require negotiated re-pricing, and the Fed will not be in a strong position. So it WILL not be permitted, and the markets will resume their historical trajectory in due course.

The alternative is a loooonnng time with illiquid markets. Won't happen. Lalalalalalala.
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Old 09-07-2015, 11:08 AM
 
Location: land of ahhhs
277 posts, read 298,672 times
Reputation: 489
With a fairly risky port, I've had a huge hit, at least 10%, so I'll be working a little longer than anticipated. And for right now, harder and longer to earn extra money for the big sale on Wall Street!
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Old 09-07-2015, 10:48 PM
 
1,734 posts, read 1,952,024 times
Reputation: 3901
Quote:
Originally Posted by mastequila View Post
With a fairly risky port, I've had a huge hit, at least 10%, so I'll be working a little longer than anticipated. And for right now, harder and longer to earn extra money for the big sale on Wall Street!
Mastequila, boy-oh-boy - did you ever position yourself well, that working harder and longer makes a difference in the ol' paycheck!!! Mine don't change unless I jump ship. It's regrettable! - but true.
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