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62 - retired for health reasons
Old 01-16-2013, 08:29 PM   #1
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62 - retired for health reasons

I've browsed this web site for 2 or 3 years and find the information about living in retirement very helpful. I'm 62 and my wife just turned 60. I stopped working in 2001 due to a chronic and progressive illness. So, I'm retired, i.e. I no longer work for a salary, but do continue to get disability pay from my former employer and also get Social Security disability. I call this retired/disabled.

I will get a pension at 65 (in three years) that will be about the same as my current disability pay. My wife and I have about $900,000 in our portfolio - 450K in a IRA, 300K in a 401K and 150K in taxable mutual funds.

My AA is 25% stocks - 40% bonds - 35% cash

We are funding a 529 plan for our 6 year old grandson. The current balance is $21K and we add $4,000/year.

Even with Medicare and health insurance from my former employer that will continue after my formal retirement at age 65, my healthcare costs (deductibles, copays, etc. etc.) are a concern.
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Old 01-16-2013, 08:53 PM   #2
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Quote:
Originally Posted by computerguy View Post
I've browsed this web site for 2 or 3 years and find the information about living in retirement very helpful. I'm 62 and my wife just turned 60. I stopped working in 2001 due to a chronic and progressive illness. So, I'm retired, i.e. I no longer work for a salary, but do continue to get disability pay from my former employer and also get Social Security disability. I call this retired/disabled.

I will get a pension at 65 (in three years) that will be about the same as my current disability pay. My wife and I have about $900,000 in our portfolio - 450K in a IRA, 300K in a 401K and 250K in taxable mutual funds.

My AA is 25% stocks - 40% bonds - 35% cash

We are funding a 529 plan for our 6 year old grandson. The current balance is $21K and we add $4,000/year.

Even with Medicare and health insurance from my former employer that will continue after my formal retirement at age 65, my healthcare costs (deductibles, copays, etc. etc.) are a concern.
what is the question?.
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Old 01-17-2013, 06:18 AM   #3
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There is no rule telling people that they have to ask questions. This post under the "Hi, I am..." forum therefore there is no need IMO to ask anything in an intro post.

Quote:
Originally Posted by gerrym51

what is the question?.
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Old 01-17-2013, 12:35 PM   #4
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welcome, computerguy.
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Old 01-17-2013, 02:01 PM   #5
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There is no rule telling people that they have to ask questions. This post under the "Hi, I am..." forum therefore there is no need IMO to ask anything in an intro post.

sorry, i thought the way thing were phrased there was a question implied
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Old 01-18-2013, 01:10 PM   #6
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welcome, computerguy.
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Old 01-18-2013, 01:59 PM   #7
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Hi, Computerguy...

I saw this as an implied concern:
Quote:
Even with Medicare and health insurance from my former employer that will continue after my formal retirement at age 65, my healthcare costs (deductibles, copays, etc. etc.) are a concern.
Without getting into details, excluding dental, hearing, and optical... a general rule of thumb for annual costs for a couple should be about $8 to $9,000.

That would be payment for Medicare A&B, Including deductible, an average Medicare Supplement, and Medicare D (drugs), for basic coverage. The Medicare D could involve the Doughnut Hole... explained here.CMS Announces 2013 Medicare Part D Amounts | Segal

Depending on necessary hospitalizations or extraordinary medications costs could be higher. FWIW, after 12 years on Medicare, with an number fairly expensive operations or courses of treatment, DW and I haven't exceeded any of the basic coverages.
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Old 01-18-2013, 02:11 PM   #8
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Welcome, computerguy.

There is a tremendous level of support here.
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