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Hi from newbie in New England
Old 01-29-2013, 09:37 AM   #1
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Hi from newbie in New England

56 years old and been considering ER for 2 years now. Need a swift kick in the rear end. Wife, 2 kids (19, 16) and dead-end career as a printer.
Working since 14 my first job on a tobacco farm (yes, CT grows cigar wrapper).
Started from dollar one. Never in debt (except for mortgage), no hand me downs or gifts. Just living within our means, self-directed investing, and not being wasteful.
3 out of 4 family members are healthy. Wife had breast cancer and an immune disorder. With Obama care on the horizon and monthly medical bills of $5K she might be uninsurable.
I've run down the numbers on numerous retirement programs and my probability is >98% to maintain our lifestyle.
Problem is that I can't jump off the employment train. I need a forum like this to aid my decision and read about others who have succeeded.
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Old 01-29-2013, 10:48 AM   #2
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Once the ACA is effective in your state, you'll have access to many more health insurance choices, free from restrictions on pre-existing conditions, and subsidized if your financial resources warrant.
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Old 01-29-2013, 10:58 AM   #3
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I grew up in Norwalk and went to UConn for my first two college yrs. Then moved to CA in 1976.

I hope the info on this site helps you to make a decision. Only you can make the decision. Your wife and kids at home have to be supportive too. Have you discussed it with them?
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Old 01-29-2013, 05:01 PM   #4
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Welcome.
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Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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Old 01-29-2013, 06:08 PM   #5
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Welcome, Kern. Great name for a printer. Any chance your wife would qualify for the Charter Oak Health Plan?

And from what I understand about the ACA, bUU is right -- you should have other choices without exclusions for pre-existing conditions starting in 2014. There is a thread about the ACA in the FAQ subforum that gives more detail. Here's the link. Patient Protection and Affordable Care Act
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Old 01-29-2013, 06:24 PM   #6
Confused about dryer sheets
 
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Quote:
Originally Posted by Gumby View Post
Welcome, Kern. Great name for a printer. Any chance your wife would qualify for the Charter Oak Health Plan?

And from what I understand about the ACA, bUU is right -- you should have other choices without exclusions for pre-existing conditions starting in 2014. There is a thread about the ACA in the FAQ subforum that gives more detail. Here's the link. Patient Protection and Affordable Care Act
Thanks for the greetings. Will check out Charter Oak.
Been a printer since 1974, smart enough to go to RIT (sarcasm). Believe it or not, I worked with a guys named C. Roller, D. Hickey, and Matt Stock (no joke)
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Old 01-30-2013, 08:13 AM   #7
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Welcome, Spent a good portion of my adult life living in Stamford, Ridgefield and Monroe. Enjoy seeing those tobacco farms when flying into Bradley. I think you will get a lot of positive encouragement here.
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Old 01-30-2013, 08:56 AM   #8
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Welcome aboard. My wife grew up in New England and most of her family is scattered around RI, VT & MA. We've both spent a lont of time and done a lot of sailing of CT too. A truly lovely area of the country.
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Originally Posted by kern44 View Post
Problem is that I can't jump off the employment train. I need a forum like this to aid my decision and read about others who have succeeded.
Ultimately your right answer is unique to you. The experiences here vary considerably. Some have confidently 'jumped off the train' with an 80% probability of success and others have waited for a 200% probability (double the $ nest egg required for 100%) and still had some reservations.

And when you read the experiences of others here - you won't always know which members are relying mostly/entirely on their portfolios, and which have most/all of their income needs met by pensions/annuities/Soc Sec/passive income and subsidized retiree health care coverage. Makes a difference...
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Old 01-30-2013, 09:11 AM   #9
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Welcome Kern. You may find the PPACA to help with DW's needs. If you have both taxable and tax deferred savings you may be able to control your taxable income to keep family premiums at a reasonable level. Many are no doubt waiting to find out the pricing of the plans so a final decision can be made to FIre.
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Old 01-30-2013, 09:35 AM   #10
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Welcome... from another longtime New Englander... Lived in all states except
Ct. but lived 15 miles from the border.

I peeked at the Charter Oak Site, and it looks like a good possibility... Just an aside here, for others, for both healthcare and other state sponsored benefits.
In most states, there are benefits available for individuals, either based on age, health, or other circumstances. My experience has been that most people don't know about, or look for some of the services that they pay for with their taxes. The surprising part about this, is that many of these sponsored services are NOT means based, or if they are, the "means target" may be very high. Until recently, for instance, Illinois offered many benefits with a means test of $37,000 taxable earnings for a couple, with no other restrictions. (Seniorcare).

Other states offer reduced car registration costs, free cell phones, fallback insurance, respite care, legal, education, reduced or free transit services etc... for seniors, and for other circumstances. Eligibility is not always based on income.

It only takes a bit of googling to find the services. It could be surprising to see what is available, if not for oneself, for a relative, friend, or "just in case."
.................................................. ..........

Best of luck, and best wishes for a happy and safe retirement...
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