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Old 06-28-2008, 04:26 PM
 
Location: Colorado Springs
92 posts, read 196,038 times
Reputation: 52

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i can retire anytime after august 7th...will be sixty-two then...i will have about1200/mo from SS....small pension..bout $400 per month...annuity from TSP (federal 403 type plan) which will yield another 330/mo and what used to be a decent amount in private retirement plan...now only 150k (wife and I) and falling....i will keep my govt health insurance in retirement for about 240 per month for my wife and i for full coverage until medicare...once she retires we will have an additional 1200/mo from her SS my small pension, plus our private retirement plans... so while we are both vertical we should have about 3500 - 4000/mo to live on....the only drawback is that we wont own a home free and clear....that is an important part of the retirement plan that worries me...i think i will look for a nice area and rent condo or townhouse....or look outside the US.....i think we can live well on our retirement income...i sure hope so, since i am really tired of the 8-5 routine..does this sound familiar to anyone?? if so, are you optimistic or pessimistic about your future living standard???
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Old 06-30-2008, 11:29 AM
 
37 posts, read 105,741 times
Reputation: 40
Quote:
Originally Posted by nitram View Post
Prescriptions cost an arm and a leg even after insurance, medicare/medicaid payoffs.
The most I've had to pay for a prescription on medicaid is $1. If a drug you need isn't automatically covered, then have your doctor write up the authorization, saying that you need it, and medicaid will cover it.
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Old 06-30-2008, 03:00 PM
 
Location: Out there somewhere...a traveling man.
39,527 posts, read 47,687,050 times
Reputation: 110326
Quote:
Originally Posted by valleys_of_hills View Post
The most I've had to pay for a prescription on medicaid is $1. If a drug you need isn't automatically covered, then have your doctor write up the authorization, saying that you need it, and medicaid will cover it.
Not quite, depends on which medicaid plan you have. Medicaid pays up to $2000.00, then the donut hole where we pay 20% of costs. Plus some items are not covered.
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Old 06-30-2008, 04:21 PM
 
Location: DC Area, for now
3,517 posts, read 12,048,324 times
Reputation: 2141
Quote:
Originally Posted by nitram View Post
Not quite, depends on which medicaid plan you have. Medicaid pays up to $2000.00, then the donut hole where we pay 20% of costs. Plus some items are not covered.
Are you talking about Medicaid or Medicare? They aren't the same thing. Medicare is for those 65 and older. Medicaid is for people who are under a maximum income level (i.e., poor folks).
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Old 06-30-2008, 06:22 PM
 
Location: Out there somewhere...a traveling man.
39,527 posts, read 47,687,050 times
Reputation: 110326
Both.
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Old 06-30-2008, 11:10 PM
 
16,437 posts, read 19,129,232 times
Reputation: 9518
Quote:
Originally Posted by duke1946 View Post
...i sure hope so, since i am really tired of the 8-5 routine..does this sound familiar to anyone?? if so, are you optimistic or pessimistic about your future living standard???
You are in better financial shape than most Americans but unless they change the health care system you won't be able to retire IMO. Most doctors will not accept new Medicare patients so Medicare is essentially uninsured. My advice, admittedly pessimistic, is not to tell your employer and co-workers that you want to retire. That will only put you on top of the lay off list and may cause you to have to continue working in a less desireable circumstance. You are not alone if that is any comfort. Most of us that are working today will not be able to retire at all. That is a new fact of life in America. On the positive side, the cost of renting or buying living space will be much lower in the future.
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Old 11-12-2013, 07:35 AM
 
Location: Forests of Maine
30,671 posts, read 49,423,020 times
Reputation: 19124
Quote:
Originally Posted by Tesaje View Post
Fees will eat your wealth alive.
That is believable.
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Old 11-13-2013, 02:01 AM
 
176 posts, read 509,797 times
Reputation: 303
Since this thread is from 2008, $12,000 should be replaced by a somewhat higher figure due to inflation.
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Old 11-13-2013, 10:33 AM
 
Location: Idaho
4,620 posts, read 4,456,526 times
Reputation: 9033
Quote:
Originally Posted by PastTense01 View Post
Since this thread is from 2008, $12,000 should be replaced by a somewhat higher figure due to inflation.
According to the gubmint, and the pay increases we've been getting . . . there isn't any, or very little inflation since 2008.
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Old 11-13-2013, 01:07 PM
 
Location: Forests of Maine
30,671 posts, read 49,423,020 times
Reputation: 19124
Quote:
Originally Posted by PastTense01 View Post
Since this thread is from 2008, $12,000 should be replaced by a somewhat higher figure due to inflation.
Maybe a little higher, not much.

With 24% total unemployment [equaling the Great Depression], the COL can not rise every much.
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