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Old 08-03-2019, 10:22 AM
mlb
 
Location: North Monterey County
3,283 posts, read 2,906,599 times
Reputation: 5049

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My fear was more anxiety that my/our plan would fall short as we were moving to another state and we would not find doctors, dentists, replacement services, etc.

We are here now almost 9 months and I am proud to say that things are falling into place thanks to the fact we had a well thought out plan.

I also had fear that staying on the job would be detrimental to my health. It took a broken ankle/leg to push me to pull the trigger...thanks to tons of sick leave.

NO REGRETS. DON’T LOOK BACK.

OP, I see you are also moving to another area. It is a good idea to do a tally of what your expected expenses might be and go from there. We did that and are OK with the costs we cannot control....happy that our utilities are almost dead on what they were in our prior city...and we are saving bundles in areas we can. It’’s hard to make a leap into the unknown.

Last edited by mlb; 08-03-2019 at 10:33 AM..
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Old 08-03-2019, 10:57 AM
 
432 posts, read 164,081 times
Reputation: 1464
For us early retirement was always about healthcare costs, because our health insurance cost has always been paid 100% by us. Somewhere in my 40's I got an expensive medical condition so "pre-existing condition" clauses were really important.

In the end we didn't decide to retire, our business landlord made the decision when she tripled our rent and put deal-killer addendums into our new lease after 20 years there. Forced our hand, yes, but it just moved our retirement up 2 to 5 years sooner since we'd been discussing it already.

When my spouse hit Medicare age that was one great day for our financial safety. This year I hit Medicare age and will be $10,000 richer every year forward for the health policy I am no longer being brutally punished for because of my age (my pre-existing condition is not the reason).

It's the middle years that are so financially insecure, between when you "want" to retire and Medicare age 65.
Luckily neither of us had a catastrophic medical event before Medicare (fingers crossed for me).
My heart is with people who need to retire for health reasons and yet cannot.

Nope, not scared ever. But as they say "old age is not for sissies". I'm sure there's some scares coming our way. Inevitable.
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Old 08-03-2019, 11:44 AM
 
Location: Wasilla, AK
7,421 posts, read 4,287,601 times
Reputation: 16392
Quote:
Originally Posted by twinkletwinkle22 View Post
In the end we didn't decide to retire, our business landlord made the decision when she tripled our rent and put deal-killer addendums into our new lease after 20 years there. Forced our hand, yes, but it just moved our retirement up 2 to 5 years sooner since we'd been discussing it already.
Did that backfire for her?
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Old 08-03-2019, 12:01 PM
 
2,178 posts, read 918,308 times
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This. I felt the same way. I just saw myself as the next one to be wheeled out in a guerney, toes up.

Yes I was a bit scared, but I had tracked expenses on a spreadsheet for a couple of years, was debt free with plans to downsize, had a pension, so I knew we had just enough to retire on. I actually loved my job, but retired at 59. I figured the longer I waited the more scared I would be, so I pulled the plug.

Funny thing is a year later, out of boredom (my wife was still working, she retired the following year), I went back to work as a contractor for two years until I reached 62 and could collect my SS. For those two years, with my pension and salary, I made more than in any previous years. Paid off the house, and basically set us up financially to retire on our SS and my pension. Financially it worked out way better than I imagined it would. I'm 72 now and never regretted it.
Quote:
Originally Posted by StealthRabbit View Post
The more 'fearful' thing for me was dying at work.

Lost (4) co-workers (at work) the yr I left.

Time to GO!

Last edited by bobspez; 08-03-2019 at 12:16 PM..
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Old 08-04-2019, 01:22 PM
 
Location: Orange County/Las Vegas
1,691 posts, read 1,889,096 times
Reputation: 1413
I am very stressed and worried about retiring. I will be 65 next month. A few years ago I couldn't wait to retire. Now that reality has set in I have had a change of heart. I'm worried that I will have nothing to do but sit around and drink beer and watch TV and get fat. I have no hobbies. The other worry is finances. I think I have enough but you start reading some of these articles and it seems like you have to be a billionaire to retire.

My FRA is 66 so I will be working at least to that age but a year will go by fast.

Then there is the medicare which is complicated. When I start reading about it I just zone out. Who knows how much money that will cost.

So regardless of what people say. Getting old is not fun!!
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Old 08-04-2019, 02:39 PM
 
49 posts, read 8,565 times
Reputation: 46
Yes I am *terrified* to retire. Never our goal. No pensions. Being extraordinarily self sufficient while earning low wages our entire lives resulted in a minuscule savings. My very p/t wages with a little Social Security are adequate for now. Hubby will be on a small SS check in 1 yr and my Social Security will mostly go towards the cost of our healthcare at that time. Cashed out our retirement investments to purchase 25 acres of property with a ranchhouse & two fixer upper cabins. Our grown children & spouses live in those cabins slowly upgrading., Our grandson, his wife, grandkids are building their home here. Their rent is currently $1700 a month! They look forward to having no rent payments. Family will surely care for us to some degree during our "golden years". Bummer we have no health coverage for the next couple years yet we are very healthy consuming mainly what we grow or raise. My former employer of 11 yrs covers teeth, eyes, & any medicines needed for $30 a month plan contributions. House rich, cash poor is what I'd call it

Last edited by SaraR.; 08-04-2019 at 03:00 PM..
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Old 08-04-2019, 02:52 PM
 
49 posts, read 8,565 times
Reputation: 46
Quote:
Originally Posted by jet757f View Post
I am very stressed and worried about retiring. I will be 65 next month. A few years ago I couldn't wait to retire. Now that reality has set in I have had a change of heart. I'm worried that I will have nothing to do but sit around and drink beer and watch TV and get fat. I have no hobbies. The other worry is finances. I think I have enough but you start reading some of these articles and it seems like you have to be a billionaire to retire.

My FRA is 66 so I will be working at least to that age but a year will go by fast.

Then there is the medicare which is complicated. When I start reading about it I just zone out. Who knows how much money that will cost.

So regardless of what people say. Getting old is not fun!!
He started drinking after we bought the ranchhouse. Hubby only works seasonally so never accumulated much. The kids drink alcohol too. So far, everyone is eating pretty healthy so a few drinks 3-4 days a week may not matter. I believe the average cost a Senior pays for healthcare is around $650 a month
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Old 08-04-2019, 02:54 PM
 
49 posts, read 8,565 times
Reputation: 46
Quote:
Originally Posted by bobspez View Post
This. I felt the same way. I just saw myself as the next one to be wheeled out in a guerney, toes up.

Yes I was a bit scared, but I had tracked expenses on a spreadsheet for a couple of years, was debt free with plans to downsize, had a pension, so I knew we had just enough to retire on. I actually loved my job, but retired at 59. I figured the longer I waited the more scared I would be, so I pulled the plug.

Funny thing is a year later, out of boredom (my wife was still working, she retired the following year), I went back to work as a contractor for two years until I reached 62 and could collect my SS. For those two years, with my pension and salary, I made more than in any previous years. Paid off the house, and basically set us up financially to retire on our SS and my pension. Financially it worked out way better than I imagined it would. I'm 72 now and never regretted it.
Inspiring story
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Old 08-04-2019, 03:16 PM
 
290 posts, read 116,323 times
Reputation: 623
Sometimes the cards you're dealt aren't the ones you would choose. You still have to play out the game to see how it ends.


In other words, sometimes you just hold your breath and jump in.
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Old 08-04-2019, 03:32 PM
 
Location: Orange County/Las Vegas
1,691 posts, read 1,889,096 times
Reputation: 1413
Quote:
Originally Posted by SaraR. View Post
He started drinking after we bought the ranchhouse. Hubby only works seasonally so never accumulated much. The kids drink alcohol too. So far, everyone is eating pretty healthy so a few drinks 3-4 days a week may not matter. I believe the average cost a Senior pays for healthcare is around $650 a month
Right now I just drink beer on weekends when I'm not working the temptation might be every night. Then comes the big beer belly.

The healthcare is a big maze for me. I think I'm supposed to sign up for Part A right now even though I'm going to keep working.
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