Retire too early?

[Boompa]

I went out at 53 and haven't done an hours work in 12 years. It doesn't bother me a bit. The ONLY way I would go back to work would be making substantially more than I was making

[brightdoglover]

What do people do for health insurance if they retire "early" or "too early?"

[Boompa]

Originally Posted by brightdoglover

What do people do for health insurance if they retire "early" or "too early?"

I have the Veterans Administration so i was not dependent on Employer Based Health Care

[forest beekeeper]

Originally Posted by brightdoglover

What do people do for health insurance if they retire "early" or "too early?"

I would imagine that most pensions that kick in for folks in their 40s or 50s, usually have health coverage attached to the pension.

[leadman]

with the way our government is spending our social security money i would be scared of retiring to early

[Boompa]

Originally Posted by leadman

with the way our government is spending our social security money i would be scared of retiring to early

Get it while you can.....

[Minervah]

Originally Posted by brightdoglover

What do people do for health insurance if they retire "early" or "too early?"

That is why many people who can afford to retire early don't. The minute I am eligible for Medicare I am out of Voldemort Inc. That will be early 2011 even though I won't get full SS benefits at age 65. But I am counting down the days.

[brightdoglover]

I think of 63 1/2, to pay COBRA until 65.
However, I am likely to have the option of working two nights a week at my current job, get paid for three (every weekend) and get pro-rated health insurance. The only way I'd do this is if I took my pension out in an annuity when I cut back to two nights. If I'm going to be around here a lot, it makes sense to make daily expense money on the weekends, and I could always handle two nights. (Although people rarely give up these slots- they're coveted).
I don't see big travel ahead. Actually, I'd be better off doing big travel now, while I'm making good money and get five weeks vacation a year (two-ish if during the summer). I do have some ideas to spend significant time in a couple of Western places, enough time that I'd have to not be working, but that could wait a little longer. I do hope and know that health/energy will improve a lot when I'm no longer swotting away on third shift five nights a week.
But first I'd have to tire of staying home and sleeping off those third shifts and recovering health and energy and hoping I didn't wait too long.
I'm 56 1/2. I keep thinking and thinking, and feel lucky to not have lost everything and have to start over. yet.

[skydiver_jim]

Originally Posted by brightdoglover

What do people do for health insurance if they retire "early" or "too early?"

I plan on retiring in Dec. of 2011 as a FERS employee. Under FERS, if you meet the retirement conditions (elaborated on very well by madman), you can carry your FEHB health benefits into retirement, provided you were in the federal heath care system for the last 5 years of your career. For me, that will be 2011. I will have reached my MRA in October (56), I will have 32 years and 10 months of service, and will have been in the health system for over 5 years. The federal health system is very generous, paying almost 70% of your health care.