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Old 04-28-2015, 02:49 PM
 
29,782 posts, read 34,871,258 times
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Quote:
Originally Posted by VJDAY81445 View Post
If everyone followed Mathjak's philosophy of not retiring until you have over $12,000 a year budgeted for health care, a whole lot of people would never be retiring.
True and many of those who could have might not become bankrupt because of health care cost. None of this is universal as life's realities dictate what we can do. It is what we do and don't do that we could have that is a possible message for others.
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Old 04-28-2015, 04:04 PM
 
71,626 posts, read 71,777,271 times
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Quote:
Originally Posted by VJDAY81445 View Post
If everyone followed Mathjak's philosophy of not retiring until you have over $12,000 a year budgeted for health care, a whole lot of people would never be retiring.
i said don't retire until you can afford 12k for health care costs ? ?. show us all where i ever said that.

in your mind is the only place you will find i said that.
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Old 04-28-2015, 05:37 PM
 
950 posts, read 714,989 times
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Quote:
Originally Posted by mathjak107 View Post
i said don't retire until you can afford 12k for health care costs ? ?. show us all where i ever said that.

in your mind is the only place you will find i said that.

It seems you gave your example then said in many posts that the $12,500 was necessary.

I am glad you budgeted it for your retirement , but wonder why you feel everyone should?
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Old 04-28-2015, 05:47 PM
 
29,782 posts, read 34,871,258 times
Reputation: 11705
Quote:
Originally Posted by VJDAY81445 View Post
It seems you gave your example then said in many posts that the $12,500 was necessary.

I am glad you budgeted it for your retirement , but wonder why you feel everyone should?
Doesn't every teacher want their students to get A's even knowing that some won't? Wouldn't you rather others had high expectations for you and others instead of assuming you won't achieve at their level. Their are recommendations and yes from the financial industry. Some of us subscribe to them and others don't. But they are still there. There are millions in debt because of health bills and many of us don't want to be in that group and don't want others to be either. Is that wrong?
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Old 04-28-2015, 05:59 PM
 
71,626 posts, read 71,777,271 times
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Quote:
Originally Posted by VJDAY81445 View Post
It seems you gave your example then said in many posts that the $12,500 was necessary.

I am glad you budgeted it for your retirement , but wonder why you feel everyone should?
I never said anything of the sort. If you read what i wrote the costs vary by state and the same coverage can be 1/2 that depending on state structure and how much exposure to costs you want..

the national average for a couple is 10k today.
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Old 04-29-2015, 08:57 AM
 
268 posts, read 212,126 times
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Quote:
Originally Posted by mathjak107 View Post
let us know how that plan works out for you.
Was this snark aimed at me? If so, I've been "retired" for 10 years with this mindset, and doing fine. Better than fine, actually. But I've always been non materialistic, never valued material things, never.

As long as I have a bicycle, a violin, a computer and a cat, I'm happy. Time to read, contemplate. Wouldn't expect everyone to be like this, but it works for me.
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Old 04-29-2015, 10:46 AM
 
Location: Los Angeles area
14,018 posts, read 17,740,386 times
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Quote:
Originally Posted by happypants 3235 View Post
.............

As long as I have a bicycle, a violin, a computer and a cat, I'm happy. Time to read, contemplate. Wouldn't expect everyone to be like this, but it works for me.
I see your point, which is a good one, but I am wondering if you wouldn't include a dwelling, however simple, in which the roof doesn't leak and which has running water, plus enough financial resources to assure being able to afford that simple dwelling (or a similar one) into the future? Computers and violins need to be kept dry! Bicycles and cats are better off dry too!
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Old 04-29-2015, 11:46 AM
 
268 posts, read 212,126 times
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Quote:
Originally Posted by Escort Rider View Post
I see your point, which is a good one, but I am wondering if you wouldn't include a dwelling, however simple, in which the roof doesn't leak and which has running water, plus enough financial resources to assure being able to afford that simple dwelling (or a similar one) into the future? Computers and violins need to be kept dry! Bicycles and cats are better off dry too!
Wow. It should be self-evident that I don't live outside in the rain. That's kind of insulting.
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Old 04-29-2015, 02:03 PM
 
Location: Los Angeles area
14,018 posts, read 17,740,386 times
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Quote:
Originally Posted by happypants 3235 View Post
Wow. It should be self-evident that I don't live outside in the rain. That's kind of insulting.
I didn't mean to imply I thought you lived outside in the rain, and I didn't mean to be insulting. You had given a list of things you need to be happy, and I was suggesting that you must have meant that a house or apartment would go along with the other items on your list.
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Old 04-29-2015, 06:30 PM
 
Location: Grove City, Ohio
10,134 posts, read 12,387,762 times
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Quote:
Originally Posted by mathjak107 View Post
I never said anything of the sort. If you read what i wrote the costs vary by state and the same coverage can be 1/2 that depending on state structure and how much exposure to costs you want..

the national average for a couple is 10k today.
And I think you are right and if the couple is <65 you're probably short.

Medicare Part B: $104.90
Medigap Plan G: $135.00
Part D Coverage: $30.00
Dental: $33.00
Total: $302.90*2 = $605.80

$605.80*12=$7,269.60 for a couple for one year in just health insurance premiums.

Add this is $147.00*2=$294.00 in Part B deductibles which brings us to $7,563.60.

This is only $2,436.40 from $10,000 and everyone should recognize where I live the cost of supplemental plans are among the lowest in the nation. I've seen some Plan F and and Plan G premiums spike over $200.00/month where mine is only $135.00.

So we're already at $7,563.60 and some of us require some drugs that are not cheap. Most of my drugs are cheap, all are pretty common and generic, but I take one that costs me $450.00 in January and another $145.00 in both April and July and another $450.00 October $1,190.00.

With my drugs we're now $8,753.60. My wife has drugs too but nothing near mine... maybe $300.00 for the year so that puts us to just over $9,000.00.


Now about dental. Yes, we have dental insurance that pays for twice annual cleanings and exams but other work is paid at about 50%. If I get a crown the bill is around $1,200.00 and I get to pay half of that and while I have all my own teeth and plan to keep in in your late 60's it sometimes costs money to do that.

Now add eye glasses and exams. I got to agree with Mathjak, $10,000 per year for a couple is not an unreasonable figure at all and in some areas of the country it could be a little light.

Yep, so much for Medicare being free.

Oh, and if you are retired before Medicare you can practically double that figure.
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