Retirement at 54 (community, adult, benefits, family)

[StealthRabbit]

Staying employed is not always possible / desirable age 50 - 65.

ACA will not cut it for long, but use it while you can: then get creative:

• Medi-vacations; as do millions of people from countries with national healthcare for the last 40 yrs (industry is growing at 25%/ yr)
• Medical cost sharing (legal alternatives to USA ACA)
• Go without HC / self insured.
• Travel FT and use travel Insurance as a gap filler $80/ month
• Stay lucky

[MCNE]

Originally Posted by Vision67

Realize that if you need ACA insurance from 60 to 64 those rates increase at a rapid rate due to age alone.

Also, ACA insurance rates in some areas are going up 40% this year alone.

For most people, retiring before Medicare age is just not feasible. There is no way to accurately predict your medical expense.

Good luck getting hired at Starbucks at age 60.

Ha! no need to wait until 60!

[rjm1cc]

Originally Posted by MCNE

Ah probably not 40 yrs so I'll assume a shorter risk with that one

Also all I've done with Social Security is check what the benefit will be at ages 62, 67 and 70. I'll have 34 yrs of credit by 2019 with the last 20 being somewhat high.

Thanks for the reply!

Not sure but I think the basic calculator assumes your earnings continue to FRA at your current earnings. Better download the manual one that you enter your earnings into each year.

[rjm1cc]

Originally Posted by MCNE

I'll go work at Starbucks (or someplace) part-time to get medical before I ever pay 30k per yr on medical.

That will probably be 30 hours per week if you can find it. Would it be better to stay at your current job and bank your earning for future medical expense and not have to work part time.

Try applying for a part time job now and see if you can actually get an offer. Might be harder than you think. especially if the min. wage goes to $15.00.

[jlawrence01]

Originally Posted by MCNE

I'll go work at Starbucks (or someplace) part-time to get medical before I ever pay 30k per yr on medical.

And how many 60 year olds do you see working at a company owned free-standing Starbucks? I have not seen one in years.

The ONLY older employees I have seen in a Starbucks are those in-store operations in Safeway and Kroger's employers who will hire older people.

[StealthRabbit]

Originally Posted by rjm1cc

Not sure but I think the basic calculator assumes your earnings continue to FRA at your current earnings. Better download the manual one that you enter your earnings into each year.

Yes, that is my thought.... std calculator will supply false results, as it is expecting you to keep earning same income until withdrawal age

Need to re-calculate with GAP of earnings

[reneeh63]

Sorry OP but you sound like you picked an age that you WANTED to retire and even though you've checked with some advisors you just won't be dissuaded. I don't know if you'd always wanted to retire then but ended up divorced and now you'll be danged if SHE makes you work longer?

Don't quit your job before you get all these kinks ironed out....jobs with health insurance are hard to come by - especially if you only want to work a few months a year - that won't do you any good at all for insurance purposes.

[MCNE]

Originally Posted by jlawrence01

And how many 60 year olds do you see working at a company owned free-standing Starbucks? I have not seen one in years.

The ONLY older employees I have seen in a Starbucks are those in-store operations in Safeway and Kroger's employers who will hire older people.

OMG...It was an example . I do have a skill set that would allow me to consult but continuing to work a corporate role isn't in my future long term.

[jr6035]

Originally Posted by StealthRabbit

Gonna need to put that extra $500k from your Primary home to work with better than 4% returns / withdrawals. Closer to 8%. That is possible in SA area with rental props. (Even with a rental manager, so you can stay retired, but being Active manager gives you better returns and deductions)

What is the loan rate % on the $150k on retirement home?

You say an additional $500k in cash, I would put that to work too, rather than paying off a sub 5% $150k mortgage.

Lots of different options to put the funds to work for better than 4%.
Any intent to get PT income? (I have met many 'retired' uber, airport shuttle, Enterprise delivery drivers in SA who are having a great time in early retirement.) Costco is a great PT night shift job with benefits. 3 locations in North SA. https://www.google.com/search?q=cost...istate=lrl:mlt

Healthcare ? Trust you have free coverage till age 65, if not ... HC is a wildcard, as ACA will not make it till 2019 and beyond. I have had to go 'Stealth' on HC. Several yrs till 65.

Retire Early, Retire Often!

Huh? ACA is here. Has been for the past 5years? And I love how people tell others how much they need to make without knowing their lifestyle. And,you can live easily in San Antonio on $40,000 a year. Anywhere in Texas for that matter. And what retiree wants a night job? A retired cop? Yea right. we worked half our career in the dark. Crazy.

[mathjak107]

we all make different incomes while working ,in different locations , but suddenly in retirement you have people who know how much is enough for everyone else

you can triple our nyc budget and i could easily enjoy every dollar