Ed B
Recycles dryer sheets
Hello all, I followed a link to this site from another retirement financial discussion board. I browsed a bit and quickly recognized that this community has a wealth of knowledge with experience and wisdom to share.
I am 56 and will be 57 in May. I am planning on earlier retirement in 2019 or 2020 at 59 or 60 yrs of age respectively. I will have a pension with a few survivor benefit options, or life only, or level income to 65 with no survivor benefit. I have a ~500k life insurance policy with my job that i can keep and still pay premiums as if I were anactive employee. If i go the level income pension route the portable life insurance could mitigate the loss of revenue my wife would experience when the pensions end upon my death. Its just one of several options i am considering.
My wife is 56 and receives a modest SocSec disability payment because of an incurable condition that significantly degraded her (our) quality of life. She wants me to retire yesterday. Her condition took away her ability to work, thus the SocSec disability benefits.
My 401k is modest (~ $315k) and growing. It isnt much but is enough to worry about and will be near $400k+ with current contribution levels and 6% annual investment performance the next 3 years. It will be enough to help out and give us options.
Debt elimination plan is well into the execution stage and the numbers - early retirement revenue & lower debt make early retirement numbers viable in mid 2018. However, I need a knee replacement and I will have that done while employeed and able to use my current employer provided health insurance. I plan to have that done January 2018.
And that brings me to the biggest risk: the cost of health insurance from early retirement until Medicare age.
I will be reading a lot here and posting occasionally. Contrary to what the length of this initial "hello" post would suggest, i am not a high volume poster in any of the online communities I participated in. I look forward to learning from you all and contributing when i have something worthwhile to share.
All the best
Ed B
I am 56 and will be 57 in May. I am planning on earlier retirement in 2019 or 2020 at 59 or 60 yrs of age respectively. I will have a pension with a few survivor benefit options, or life only, or level income to 65 with no survivor benefit. I have a ~500k life insurance policy with my job that i can keep and still pay premiums as if I were anactive employee. If i go the level income pension route the portable life insurance could mitigate the loss of revenue my wife would experience when the pensions end upon my death. Its just one of several options i am considering.
My wife is 56 and receives a modest SocSec disability payment because of an incurable condition that significantly degraded her (our) quality of life. She wants me to retire yesterday. Her condition took away her ability to work, thus the SocSec disability benefits.
My 401k is modest (~ $315k) and growing. It isnt much but is enough to worry about and will be near $400k+ with current contribution levels and 6% annual investment performance the next 3 years. It will be enough to help out and give us options.
Debt elimination plan is well into the execution stage and the numbers - early retirement revenue & lower debt make early retirement numbers viable in mid 2018. However, I need a knee replacement and I will have that done while employeed and able to use my current employer provided health insurance. I plan to have that done January 2018.
And that brings me to the biggest risk: the cost of health insurance from early retirement until Medicare age.
I will be reading a lot here and posting occasionally. Contrary to what the length of this initial "hello" post would suggest, i am not a high volume poster in any of the online communities I participated in. I look forward to learning from you all and contributing when i have something worthwhile to share.
All the best
Ed B
