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No, she has some health issues, I've never pushed her to work. She is from Singapore and has never worked in this country. We have been married for 20 years now. Her country will not allow her to hold dual citizenship so she has been a resident alien all these years. Because of our age difference, she has held on to her citizenship in the event something happened to me she could always return to her country. Will she be able to get medicare at 65 as a resident alien? I will be 75 when she hits that age, and that's pretty old for people in my family. Longevity is not our strong suit unfortunately.
If your work record makes you eligible for full Medicare benefits, then your spouse —whatever their nationality—will also be entitled to the same benefits at the same cost, provided they meet all the following conditions:
they are a legal permanent resident of the United States;
they have been married to you for at least one year;
Quit the job you despise.
Get a part time job to cover cost of health insurance.
Encourage your wife to work also.
Delay SS until you feel you need it.
The next ten+ years are primo - enjoy life as much as possible while you can.
the problem with that idea is so many who do that end up quitting good jobs with good pay and good benefits because they think those jobs are stressful .
so they get a new lower end job. now instead of basically being off the radar like at the old job they are now low man on the totem pole under the microscope of some grunt supervisor who watches their every move.
now they got crappy pay , little benefits , and the worst days and hours to go along with being put under a microscope . my buddy went and did that and he goes from one miserable low pay job to another after taking an early pension option with the nyc fire dept . the jobs just go from bad to worse .
@mathjak107 glad to see the requirements for my wife's medicare, now I just need to make it to 75
@Dave
Quote:
But the health care is the big issue. You just can't get away from that and it does not look like you have enough to fully fund coverage for that long. Wife has no benefit options?
Do you mean that the investment money wont be enough to cover medical till she's 65 or the $1700 monthly SS benefit?
the problem with that idea is so many who do that end up quitting good jobs with good pay and good benefits because they think those jobs are stressful .
so they get a new lower end job. now instead of basically being off the radar like at the old job they are now low man on the totem pole under the microscope of some grunt supervisor who watches their every move.
now they got crappy pay , little benefits , and the worst days and hours to go along with being put under a microscope . my buddy went and did that and he goes from one miserable low pay job to another after taking an early pension option with the nyc fire dept . the jobs just go from bad to worse .
Jak-
I couldn't give you reputation points but I agree with everything in your post. One former Construction Superintendent at work (till January 2018) retired and came back a couple months later in a similar but less stressful role as a contracted Supervisor. I talked to him to see how he felt about it, going from a Shooter to a Grunt, as I may do something similar. He said it is OK so far as he was a Grunt for years and remembers the role, and the stress of his old job is now on someone else. He also said the moment the job stops being fun is when he will leave for good. The validity of your points is why I asked him directly with no one else around to over-hear.
@mathjak107 glad to see the requirements for my wife's medicare, now I just need to make it to 75
@Dave
Do you mean that the investment money wont be enough to cover medical till she's 65 or the $1700 monthly SS benefit?
A friend of mine in her early 60's pays nearly $800 a month for her insurance with an $1,800 deductible and we think that is reasonable. She has no subsidy and no serious preexisting health condition which the OP's wife apparently has. I'm sure many posters pay more.
You will spend a good deal of money for the next 10 years on your wife's health insurance.
Special rule for the first year
you retire
Sometimes people who retire in mid-year
already have earned more than the annual
earnings limit. That’s why there is a special
rule that applies to earnings for one year,
5
(over)
usually the first year of retirement. Under
this rule, you can get a full Social Security
check for any whole month you’re retired,
regardless of your yearly earnings
In 2018, a person younger than full
retirement age for the entire year is
considered retired if monthly earnings
are $1,420 or less https://www.ssa.gov/pubs/EN-05-10069.pdf
Last edited by SamTheSchmuck; 06-04-2018 at 04:57 PM..
What about the Premium Tax Credit (PTC)? I was told that you can get a pretty healthy deduction from your medical insurance premiums if you qualify. I think you have to earn at least $22,000 this year to get into the bottom bracket and it has a credit of over $1,300 per month. Is that true?
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