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Old 12-12-2013, 10:59 AM   #61
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Greetings from brisky South Louisiana where it's expected to get down to 27 tonight. I have been lurking, thanks so much for this trove of information! The advice you guys post has been very valuable to me.

I am looking to retire in October of 2014 when I turn 60. My plans are to use a series of small pensions and saved money to get to age 62 when I will take SS early. Looks like I'll have sufficient money at 62, so I think the money part and health care is taken care of. my concern is the unexpected.

I am soliciting your story-what happened that you did not expect? What were your challenges that you did not foresee? Besides money, what else should I prepare for?

Thanks in advance, and again, thanks for the past postings.

I thought I would want to work part-time, seasonal, or run a little business. Turns out I was mistaken ....
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Old 12-12-2013, 11:04 AM   #62
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Sorry, I did not include the health issue in my original post. Would not have been a factor except for this week's announcement about the new treatment.

Am still thinking that it's a quality of life issue, and her health is now the best it has been in a couple of years. Maybe better to take the bird in the hand and stick with the original plan.
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Old 12-12-2013, 11:27 AM   #63
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So now I am second guessing the decision. If I go in Oct., we will have 2 slightly tight years, and then plenty for the duration (see the qualifier above).
I think you should look at your cash flow over the duration of your planned retirement, and not worry about individual years being tight or not.

We will have high expenses for the next few years before we downsize and while the kids are in college. But after that our cash flow improves once the kids are self supporting, we downsize, we move to a lower cost of living area for retirement and we both start collecting Social Security.

What counts is the overall success rate while leaving a cushion for the unexpected, reduced SS in the future, increasing health care costs, and LTC insurance or self coverage.

We have a couple of small businesses but I do not include the income from them in our retirement plan, so whatever we earn from them can just go to savings, travel or whatever.
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Old 12-12-2013, 05:00 PM   #64
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It's a matter of not picking a battle that you can't win. My DW has never been this excited about a project or event. I think she's been planning it for years.
Count on it. This reminds me of several comments I've read in photography books about the importance of having backup gear on site for a wedding.

Paraphrasing from the books:

"Either consciously or unconsciously the bride and probably more importantly, her mother, has been dreaming about this day for more than 20 years. She does not want to hear 'my camera broke'. If she does, she will take the knife that was intended for the wedding cake and cut your still-beating heart out of your chest and shake in in your face before you die."

"Make sure you have backup gear".
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Old 12-13-2013, 09:07 AM   #65
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Sorry, I did not include the health issue in my original post. Would not have been a factor except for this week's announcement about the new treatment.

Am still thinking that it's a quality of life issue, and her health is now the best it has been in a couple of years. Maybe better to take the bird in the hand and stick with the original plan.
Yes - I think Karma / fate had you planning ER. If its only 2 slightly tight years and then suffucient funds afterwards I'd go for it.
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Old 12-13-2013, 09:26 AM   #66
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Count on it. This reminds me of several comments I've read in photography books about the importance of having backup gear on site for a wedding. Paraphrasing from the books: "Either consciously or unconsciously the bride and probably more importantly, her mother, has been dreaming about this day for more than 20 years. She does not want to hear 'my camera broke'. If she does, she will take the knife that was intended for the wedding cake and cut your still-beating heart out of your chest and shake in in your face before you die." "Make sure you have backup gear".
That is truly awesome!! And probably quite true from some of the mother of the bride stories I've heard! Hilarious!
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Old 12-13-2013, 01:09 PM   #67
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That is truly awesome!! And probably quite true from some of the mother of the bride stories I've heard! Hilarious!
I have two daughters. DW isn't impressed with the progress..."they'll never get married". Me OTOH, am fine with them being indepndent. But yeah, I shot one wedding...never again...too much pressure! BTW, there's a band playing at the creamery this Saturday
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Old 12-13-2013, 02:47 PM   #68
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I have two daughters. DW isn't impressed with the progress..."they'll never get married". Me OTOH, am fine with them being indepndent. But yeah, I shot one wedding...never again...too much pressure! BTW, there's a band playing at the creamery this Saturday
I'm not coming unless it is Tangent!
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Old 12-13-2013, 03:11 PM   #69
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I have not posted here before so here goes. Retired at 62. My wifes health is not good so I went to being the caregiver (no bitterness about that). Fortunately I tagged onto last employers insurance, and savings are paying for that for the both of us. My key was to start saving early (started at 19) and tighten the belt all along the way. I seemed like a schrooge to my first wife. We divorced after 21 years, lucky for me she wanted to keep her pension and mine seperate. Now I am retired, she spent hers and went bankrupt. Living now on SSI, small pensions from 3 sources and investment income ONLY if I need to access them. Don't get tied up in scams or stupid spending. PAY OFF ALL YOUR DEBTS INCLUDING YOUR HOUSE AND CARS BEFORE RETIREMENT!!! MHO
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Old 12-14-2013, 08:00 AM   #70
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I didn't think of dentistry either ! May I ask how much you spent and over what period ? Was there a "lost cost" option to what you choose ? (ie: bridge insteand of implant) ?

Sorry for the delayed response.


We have a retiree dental policy that pays $1500 per year per person for cleanings and repair work. DW (age 34) has bad teeth prone to decay and flaking. Mine are just old (age 58).

We had the following out of pocket expenses:

2011 (Year of ER)
Me: Root canal $199
Total other: $100
2012
Me: Root canals and bridge $7,784
DS2 Gum surgery, veneer $2,156 (braces gone bad)
DS3 Extraction $83
2013
DW $8,972 implants, crowns, extraction
Me $1,565 crowns and wisdom teeth extraction
2014 Projected
DW Bridge, implants, root canals $6,000 (this should complete repair of all teeth)

Total: $26,859

Pre-FIRE we probably had double that in the immediately preceding years.
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Old 12-14-2013, 08:07 AM   #71
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Years ago I cracked a molar root, the tooth was extracted, and the alternatives offered me were implant, or bridge. NO WAY did I want the perfectly good teeth on either side of the cracked one, ground down and turned into pillars for a bridge!

Unfortunately, a second exam showed that my upper jaw was too flimsy to support an implant, and so, 15 years later, I am now on the second bridge (first one failed this year). Sooner or later I will need a denture, since there is a limit to the number of times you can re-use the bridge teeth. I hate all this more than I can say.

Amethyst
I regret the bridge I got. Wish I had gotten implants instead. They bridged two upper jaw molars with the front anchors on the canine and incisor. They are not rooted the same as chewing teeth and causes some strange sensations when chewing on that side.
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Old 01-24-2014, 11:40 AM   #72
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Although I'm still trying to retire I feel the same way you do. Am sick of life at the office. Just trying to work up the nerve to actually do it. I'm 58 and spouse wants me to work until 62.
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Old 01-24-2014, 06:46 PM   #73
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Great thread, all!
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