U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-01-2017, 06:26 PM
 
577 posts, read 445,416 times
Reputation: 1663

Advertisements

So I just sent an e-mail giving notice at my job.

I have been miserable at this job for at least the last six years. It is a very demanding, high stress job with tight deadlines and unreasonable demands. Yes, it pays well.

Suffice it to say that people have retired with a lot less put away than I have. I don't live extravagantly. I don't travel much (mostly because I'm exhausted from work, that may change). I don't eat at fancy restaurants.

I'm only 62, but I am a widow and so can get survivor benefits and let my Social Security continue to grow until 70.

I've already moved to a lower-cost area and I own my home outright (no mortgage).

The only potential fly in the ointment is that COBRA will only take me to age 64, and I have a pre-existing condition (thyroid). So depending on what happens with ACA, it may very well be that I will have to risk being uninsured for a year.

And with the GOP threatening big Social Security and Medicare cuts, it's probably better to get into the system sooner rather than later.

When did you know you had had enough? I haven't been able to focus well on work since my husband died four years ago. I have just run out of the ability to fake it.
Reply With Quote Quick reply to this message

 
Old 12-01-2017, 06:46 PM
 
Location: Surf City, NC
364 posts, read 553,066 times
Reputation: 946
Congratulations! You'll do fine. I know it's a bit scary to contemplate. I spent about 6 months on this and other boards, just getting confidence for the plunge. The water is great, I wake up in the morning and think, they're paying me just to open my eyes.
I retired at 60, the first week I was eligible. My job was just getting more stressful and the commute was horrible. I was turning into a crazy driver, and had to start meditating and playing calming tapes in the car to maintain my sanity on the road. It was time.
Reply With Quote Quick reply to this message
 
Old 12-01-2017, 06:47 PM
 
Location: Southern California
23,761 posts, read 8,259,495 times
Reputation: 15476
Quote:
Originally Posted by hackwriter View Post
So I just sent an e-mail giving notice at my job.

I have been miserable at this job for at least the last six years. It is a very demanding, high stress job with tight deadlines and unreasonable demands. Yes, it pays well.

Suffice it to say that people have retired with a lot less put away than I have. I don't live extravagantly. I don't travel much (mostly because I'm exhausted from work, that may change). I don't eat at fancy restaurants.

I'm only 62, but I am a widow and so can get survivor benefits and let my Social Security continue to grow until 70.

I've already moved to a lower-cost area and I own my home outright (no mortgage).

The only potential fly in the ointment is that COBRA will only take me to age 64, and I have a pre-existing condition (thyroid). So depending on what happens with ACA, it may very well be that I will have to risk being uninsured for a year.

And with the GOP threatening big Social Security and Medicare cuts, it's probably better to get into the system sooner rather than later.

When did you know you had had enough? I haven't been able to focus well on work since my husband died four years ago. I have just run out of the ability to fake it.
Thyroid is pre-existing? I've been on thyroid med since 2002 and don't consider it a pre existing issue. My thyroid med is so inexpensive, I pay for it out of pocket. My other BP meds are cheap too, so out of pocket. What is your thyroid condition. Hypo? That is where meds can do a great job.

I was between jobs in my life a couple times and offered cobra and NEVER took it, it's so costly. I was fine as I take care of health and don't go to the worry place.

To me you sound like you are in pretty good financial condition. Take your SS earlier if you are worried.

I didn't know people today give notice by email. Good luck. and Good for you for hanging it up.

Just curious what is Cobra costing these days? Isn't there something you can buy instead. Medicare is great.
Reply With Quote Quick reply to this message
 
Old 12-01-2017, 06:52 PM
 
Location: Florida
4,365 posts, read 3,700,708 times
Reputation: 4105
You probably never know you have enough but you might want to hire a fee only financial planner for a couple of hours to review your retirement plan. Not to invest your money.

COBRA is not qualified insurance so to be save you want to look at ACA to avoid not having coverage. This could be serious so do a lot of research if you are going to go uninsured. The uninsured could continue with medicare.

If you are not good at finances you might want to give a little more info on your budget and how you are generating income -amount of your investable assets, what they earned this year, and how much of your investments are you going to spend each year. Holding out for ss until 70 can be a smart choice. You might want to do your budget in 5 year segments and increase each 5 years for inflation. Seniors inflation is higher than the average but for now try 4%. Be sure to assume you live until 100.
Reply With Quote Quick reply to this message
 
Old 12-01-2017, 07:48 PM
 
577 posts, read 445,416 times
Reputation: 1663
Quote:
Originally Posted by jaminhealth View Post
Thyroid is pre-existing? I've been on thyroid med since 2002 and don't consider it a pre existing issue. My thyroid med is so inexpensive, I pay for it out of pocket. My other BP meds are cheap too, so out of pocket. What is your thyroid condition. Hypo? That is where meds can do a great job.

I was between jobs in my life a couple times and offered cobra and NEVER took it, it's so costly. I was fine as I take care of health and don't go to the worry place.

To me you sound like you are in pretty good financial condition. Take your SS earlier if you are worried.

I didn't know people today give notice by email. Good luck. and Good for you for hanging it up.

Just curious what is Cobra costing these days? Isn't there something you can buy instead. Medicare is great.
My thyroid situation is hyper. I take 5 mg methimazole/day. It's the 3x/year visits to the endo with bloodwork that gets expensive.

COBRA from my employer will probably be around $12K/year with $1600 deductible. It is excellent coverage. Here in NC we have only one carrier -- BC/BS. Premiums start at $965/month and go up to $1450/month. Deductibles are $6000-$7000. So I am figuring that worst scenario, health care may cost me up to $25K/year out of pocket.

I work remotely so I had to do it e-mail. I will talk to my manager by phone on Monday.
Reply With Quote Quick reply to this message
 
Old 12-01-2017, 09:21 PM
 
6,884 posts, read 7,281,254 times
Reputation: 9786
Quote:
Just curious what is Cobra costing these days?
I'm single, NO KIDS -- and my health insurance premium (what I had at my previous company, and just continued the same coverage allowed under COBRA) has been $913 a month* ($864.80 individual premium medical plan, $48.28 for dental).

I recently got a notice from my insurer -- which UNITED my HEALTH CARE under one umbrella -- that starting in January the premiums go up to:
Individual (self) -- Premium Medical Plan* $947.97, $51.01 premium dental -- total 998.98 a month just for me.
Individual (self) -- Basic Medical Plan $872.60, $33.03 basic dental
Reply With Quote Quick reply to this message
 
Old 12-01-2017, 09:55 PM
 
482 posts, read 324,201 times
Reputation: 1131
Quote:
Originally Posted by rjm1cc View Post
COBRA is not qualified insurance so to be save you want to look at ACA to avoid not having coverage. This could be serious so do a lot of research if you are going to go uninsured. The uninsured could continue with medicare.
Wait, what?? Why is COBRA not qualified insurance? This is according to healthcare.gov:

"Does COBRA count as qualifying health coverage (or "minimum essential coverage")? Yes. This means if you have COBRA coverage you don’t have to pay the fee that people without coverage must pay."
Reply With Quote Quick reply to this message
 
Old 12-01-2017, 10:17 PM
 
Location: California
104 posts, read 57,718 times
Reputation: 491
I quit my job after a long campaign of harassment by a former boss. One of his favorite things to do was wait until I took a bathroom break, then page me, and have a fit because I did not show up at the customer service desk immediately after. The other supervisors even remarked on it. No one did anything about it though. One day he forced me to stand behind my closed cash register for no reason for more than 20 minutes. That made me finally quit. And even though the rest of the staff knew what this creep was like (he was also a predator who went after a 17-year old employee and got her pregnant), they did nothing about him and talked smack about ME. Until...

Bad Boss got caught dealing crack behind the service desk and stealing money from the store. He got arrested right there in the store by a SWAT team. He is now serving time in a federal prison.

They were all very sorry and offered me my job back, but I was like, "nah."
Reply With Quote Quick reply to this message
 
Old 12-01-2017, 10:57 PM
 
13,319 posts, read 25,561,639 times
Reputation: 20505
Congratulations!
Re "Take This Job and Shove It"- when I was younger and even mouthier, I quit a job on the spot where they were trying to get me to work two more months and then accept being fired. The moron in charge said, "Frankly, I'm short of staff and I need you." I said, "I'd rather hook in the street than work for you," and walked out.

My car radio was playing "Take This Job and Shove It" as I drove away.

If I was retiring from the same situation (and not just quitting) I probably would have been more rude.

Best wishes! You'll be fine.
Reply With Quote Quick reply to this message
 
Old 12-01-2017, 11:15 PM
 
Location: Tennessee at last!
1,886 posts, read 2,039,389 times
Reputation: 3796
I knew I had enough when my office reorganized, once again, and I was assigned to an office THREE HOURS AWAY and told I could drive with their vehicle each day on the clock---6 hours a day driving to work 3, plus a 1/2 hour lunch. And with traffic or weather my day got real long in the car.

So when folks asked how I came out in the reorganization I told them I think I am now the government's highest paid motor vehicle operator, since that was what I did most of the time. The manager got embarrasses that she did something SOOO stupid and expensive, and my work could NOT be done in 3 hours a day, so she put me on telecommuting, which I liked a lot.

But I was tired of STUPID managers and their poor decisions. So when my 30 years were in last May, I hit the road.

I do highly recommend retirement.

BTW, I now do very limited contract work that my old position would have done in the past, from home, at TWICE my old salary. And I can cherry pick what assignments I want to do and pass on those I am not interested in doing, or working with the government's personnel assigned to that project.

Yep, retirement is great!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top