Mid-40s And Ready To Stop Working???

[tryan]

I exited at 43 .. now have 4 years under the belt. The wild card has been healthcare. Started at $583/month (BC/BS for family of 4) ... now pay $914/month. 36% increase in 4 years. This is not pretty.

[Lusitan]

Quote:

Originally Posted by tryan I exited at 43 .. now have 4 years under the belt. The wild card has been healthcare. Started at $583/month (BC/BS for family of 4) ... now pay $914/month. 36% increase in 4 years. This is not pretty.

Healthcare is even more of a wildcard these days, it seems. Should be interesting to see what the next few years bring and whether there is any fundamental change in the options for FIRE healthcare based on current proposals being kicked around in DC.

[Leonidas]

Quote:

Originally Posted by tryan I exited at 43 .. now have 4 years under the belt. The wild card has been healthcare. Started at $583/month (BC/BS for family of 4) ... now pay $914/month. 36% increase in 4 years. This is not pretty.

No that's not pretty at all. I have BC/BS through my former employer, it's quite a bit less than what you're paying but it keeps going up. I just hope I can get the kids grown up and off the policy before it get's too high.

[PaulNZ]

Quote:
Originally Posted by tryan
I exited at 43 .. now have 4 years under the belt. The wild card has been healthcare. Started at $583/month (BC/BS for family of 4) ... now pay $914/month. 36% increase in 4 years. This is not pretty.



I just had a look at our medical insurance, We live in New Zealand, a couple early 40's with kids. We feel fully insured and our combined cost is US$85 per month for what we consider full cover.
I too considered full retirement recently, but instead reduced my working hours by half. We have a sizeable amount of investments and all calculations show we should be right, but I hope I've got another 50 years in me-could my wife put up with me for that long? Would half be enough? Maybe- but not certainly. Also we have young family which limits what we could do.
Since halving my hours life's been a lot more enjoyable. I have time to pursue sports and hobbies. I have dug out my old backpack and gotten short 'leaves of absence' from home to visit distant and exotic places, just a flight in and out, with complete freedom and acts of randomness in between. I help out at my kids school and coach a kids sports team, I even started a biking school bus.
I am glad I still have 1/2 a job, if I gave it all up I think I would feel a bit lost, also 'what would the neighbours think!'

[Kabekew]

I'm age 40 and planning to retire toward the end of this year, and have had the same thoughts about part-time work.

Maybe there's contract or consulting work in your field, and you can just take on new projects or contracts when you feel like it? I know in my sector (government IT contractor) they keep a pool of specialists "on call," and when they get a new contract they go through the pool asking who's interested.

I've also looked into seasonal businesses such as a campground or resort-area retail or service businesses. Google "lifestyle business" for some ideas too.