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Old 02-26-2016, 08:31 AM
 
Location: The Berk in Denver, CO USA
14,051 posts, read 20,387,446 times
Reputation: 22845

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Quote:
Originally Posted by Vision67 View Post
health insurance costs even with the Affordable Care Act. By age 64 you can expect premiums of about $1K per month
I am not seeing that.
Connect for Health Colorado - Colorado's Health Insurance Marketplace shows $500/month for Kaiser Bronze HSA in Colorado Springs.
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Old 02-26-2016, 08:39 AM
 
Location: Colorado Springs
4,856 posts, read 4,972,198 times
Reputation: 17353
Quote:
Originally Posted by davebarnes View Post
I am not seeing that.
Connect for Health Colorado - Colorado's Health Insurance Marketplace shows $500/month for Kaiser Bronze HSA in Colorado Springs.
With a $5K deductible.
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Old 02-26-2016, 09:49 AM
 
6,665 posts, read 1,377,211 times
Reputation: 16747
Quote:
Originally Posted by GeoffD View Post
How is it that an Electrical Engineer can't find work? Unless they have let their skills completely atrophy, metro-Denver certainly has plenty of tech jobs. Rural New Hampshire, not so much.
He is an electrical designer, not an engineer, and he does have a wide variety of experience as a mechanical engineering designer, especially in HVAC design, but for the past ten years, he has been exclusively in oil and gas. (He designs electrical systems for their power plants.) Basically, as he explained it to me -- if I understood him correctly! -- the difference between an engineer and a designer is that an engineer determines if something can be done, and the designer's job is to put the engineer's work into a workable plan, to make it a reality. (I am not exactly the most technical and technologically-savvy person in the world, so please feel free to correct what I just wrote!)

And, just to be clear, our No. 1 choice is for him to continue working full-time in anything, as long as he could make at least $30.00 an hour, about half of what his hourly rate is now. (As I wrote before, we live fairly frugally, and we have been able to save about a third of his net earnings for the past few years.) And, as I said, he has never had any trouble finding work within two months of being laid off in the past; it is just his age now and the fact that he has been exclusively an electrical designer for the oil and gas industry for ten years are what concerns us.

And, as I wrote, it was only just last week that he signed up at the agency he has used before, so my concerns might be premature -- so this is just a "What should we do IF he can't find work before summer?" thread, so that if he isn't working by then, we will have a plan in place, so we won't panic and possibly make some bad choices.

And, again, thanks to you and to everyone else who has posted so far!

P.S. Oh, and regarding insurance, we are big believers in high deductibles resulting in low monthly payments. We can easily cover regular doctor visits and the prescriptions he's on now, but we just want to be protected in case one of us needs a $100,000 surgery and hospital stay, for example. (No worries about that yet, but we have definitely learned to take nothing for granted!)
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Old 02-26-2016, 10:31 AM
 
Location: Backwoods of Maine
7,118 posts, read 8,165,408 times
Reputation: 18774
Quote:
Originally Posted by whocares811 View Post
And, just to be clear, our No. 1 choice is for him to continue working full-time in anything, as long as he could make at least $30.00 an hour, about half of what his hourly rate is now... so this is just a "What should we do IF he can't find work before summer?" thread, so that if he isn't working by then, we will have a plan in place, so we won't panic and possibly make some bad choices.
My take is, it's time for you two to "batten down the hatches". At age 59, to expect him to work full-time at $30 per hour, just isn't realistic in this economy. Make no mistake about it, it isn't just the oil and gas industries that are in decline. Northern Maine Land Man was correct when he wrote that 95 M Americans are not in the labor force presently. That means that every industry is pretty much in decline.

I don't want to burst your bubble, nor do I want you to lose hope that he will find work. But I think you should have realistic expectations, and plans made for "what if?". Just so that you won't panic!

My advice would be to sell the house. Now. Start doing whatever you need to do to make that happen. You can rent a storage unit for the things you want to take to NH, and the two of you can move into a rental that is smaller and less expensive to afford. This may sound drastic, but remember "what if?".

Don't wait for the bottom to drop out of the real estate market. That's something that could happen, also.
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Old 02-26-2016, 02:46 PM
 
39,329 posts, read 20,396,556 times
Reputation: 12791
Quote:
Originally Posted by whocares811 View Post

P.S. Oh, and regarding insurance, we are big believers in high deductibles resulting in low monthly payments. We can easily cover regular doctor visits and the prescriptions he's on now, but we just want to be protected in case one of us needs a $100,000 surgery and hospital stay, for example. (No worries about that yet, but we have definitely learned to take nothing for granted!)
That's how we thought. Higher deductibles, contribute max to HSA, not wanting to use our HSA money until our older years but now that we lost our insurance and are forced into a new policy, we have to pay (2 people) over $800 a month with a $5000 deductible.
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Old 02-27-2016, 04:38 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,652 posts, read 40,029,981 times
Reputation: 23810
Just a thought from BTDT as a CO employed technical person who saw downsizing coming (in 1978)

Get an international job with USA tax exemption. Civilian Military contract in a war zone is a good option. For the more faint of heart.... There are many USAID options. Elect. Design work is in high demand for rebuilding bombed out infrastructure !

Paid travel, housing, daily expenses, HC and liberal vacation / leave policy.

Sell the CO home at peak of valuation, or rent if you are getting free housing in Bagdad.
You will be pocketing $100k / yr, so retirement may be delightful. One of my previous tenants has done this gig for 13 yrs, it is sweet. He is well taken care of, very secure and safe. Well paid, but hot if outside! Mini vacations / frequent paid leave to very exotic destinations. FREE of course...

Non-Degreed profession clearing over $150k / yr. (another friend made more than that working skilled trade job iin Saudi Arabia during the 1970's). As an hourly grunt worker, he can make mountains more CASH in OT than his 'exempt' manager will ever see. I often made 2x my wage in OT. 18 hr commuting flights are great for OT dough. I like working Saturdays because they are only 1/2 days (12 hrs work instead of 24 on the clock)

Btw.... If you are in rural colorado your HC under (A)? CA is one of highest in USA. Mine (WA) is priced much cheaper (only $ 1,700 / month) so I opted OUT of HC and USA! I'm Younger than your DH, 'retired' took the golden parachute over a decade ago. pre-age 50, so no desire to pay for Obama's additional perk to the failed USA medical industry.

Get a high paying international job and take the money and run!

The interesting work, food, cultures, travel, friends, co-workers... Is a NICE change of scenery from USA 'whimpy / complaining / entitled / petty' workforce. Your resume will benefit from international assignments (Should you ever need a resume again... Hope not) YMMV

Last edited by StealthRabbit; 02-27-2016 at 04:55 AM..
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Old 02-27-2016, 04:44 AM
 
Location: Central Massachusetts
4,800 posts, read 4,855,118 times
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You do have a point. Those jobs pay 100% tax free and in quite high numbers. Even more than $60 an hour.
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Old 02-27-2016, 05:23 PM
 
1,734 posts, read 1,951,663 times
Reputation: 3901
Quote:
Originally Posted by StealthRabbit View Post
Just a thought from BTDT as a CO employed technical person who saw downsizing coming (in 1978)

Get an international job with USA tax exemption. Civilian Military contract in a war zone is a good option. For the more faint of heart.... There are many USAID options. Elect. Design work is in high demand for rebuilding bombed out infrastructure !

Paid travel, housing, daily expenses, HC and liberal vacation / leave policy.

Sell the CO home at peak of valuation, or rent if you are getting free housing in Bagdad.
You will be pocketing $100k / yr, so retirement may be delightful. One of my previous tenants has done this gig for 13 yrs, it is sweet. He is well taken care of, very secure and safe. Well paid, but hot if outside! Mini vacations / frequent paid leave to very exotic destinations. FREE of course...

Non-Degreed profession clearing over $150k / yr. (another friend made more than that working skilled trade job iin Saudi Arabia during the 1970's). As an hourly grunt worker, he can make mountains more CASH in OT than his 'exempt' manager will ever see. I often made 2x my wage in OT. 18 hr commuting flights are great for OT dough. I like working Saturdays because they are only 1/2 days (12 hrs work instead of 24 on the clock)

Btw.... If you are in rural colorado your HC under (A)? CA is one of highest in USA. Mine (WA) is priced much cheaper (only $ 1,700 / month) so I opted OUT of HC and USA! I'm Younger than your DH, 'retired' took the golden parachute over a decade ago. pre-age 50, so no desire to pay for Obama's additional perk to the failed USA medical industry.

Get a high paying international job and take the money and run!

The interesting work, food, cultures, travel, friends, co-workers... Is a NICE change of scenery from USA 'whimpy / complaining / entitled / petty' workforce. Your resume will benefit from international assignments (Should you ever need a resume again... Hope not) YMMV

Stealth, which web sites should we visit that specialize in sandbox jobs? My current employer is not winning many proposals and I feel like a race horse confined in a dog crate. I'd like to see some action that involves putting numbers on the scoreboard. Thanks, Jane
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Old 02-27-2016, 06:08 PM
 
Location: Jamestown, NY
7,841 posts, read 7,339,474 times
Reputation: 13779
Quote:
Originally Posted by hikernut View Post
Sure, all of those would count as income.

Every year that one or both of you can stay employed can make a noticable impact, both in terms of increasing your SS benefits and also not withdrawing money from your 401k.

Speaking personally, if I couldn't find enough employment locally I would sell the house for now and move somewhere for employment even if it's temporary. I would rather do that than be struggling financially for potentially the rest of my life. Other people would not choose that route. It's a personal thing, I understand. I know it's not pleasant to face these decisions, especially when you are so close.
This. Look into national job sites like Indeed.com. You can survive in/near a city in a rented apartment for a few years if it means that you get health insurance and don't have to raid your 401k for living expenses. Consider some of the less fashionable metros that younger people might shun. You might even find that you like the new area more than you ever expected.
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Old 02-28-2016, 05:43 AM
 
Location: Central Massachusetts
4,800 posts, read 4,855,118 times
Reputation: 6379
Quote:
Originally Posted by jane_sm1th73 View Post
Stealth, which web sites should we visit that specialize in sandbox jobs? My current employer is not winning many proposals and I feel like a race horse confined in a dog crate. I'd like to see some action that involves putting numbers on the scoreboard. Thanks, Jane
usajobs
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