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wait until after 2012 elections to retire?
Old 05-23-2011, 12:28 AM   #1
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wait until after 2012 elections to retire?

Trying to ponder whether it would be wise to wait until 2013 (after the 2012 elections--an academic so everything runs on that school calendar) to retire. My figures look okay even with assuming that by taking ss at 70, they will have cut benefits by 20 %. Call me paranoid!
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Old 05-23-2011, 03:09 AM   #2
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You're paranoid.

Waiting for the next election is akin to saying, "I'll wait until after the next market crash".

If you're ready, you're ready. However, if your figures are good but you really do think the results of a presidential election could ruin them, then you are not ready mentally.
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Old 05-23-2011, 06:09 AM   #3
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You don't say specifically what you're waiting for. Are you suggesting that your retirement finances / plan will be significantly impacted by whether Candidate A or Candidate B is elected? That seems very implausible.
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Old 05-23-2011, 06:12 AM   #4
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A lot of us retired and the market crashed just a few months later. It was unnerving, but you get through it. Med's baby!

You can't anticipate everything. If your numbers work and you have done all your home work, take the plunge.
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Old 05-23-2011, 07:50 AM   #5
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I'm considering pulling the trigger in a couple of years but frankly I'm squeamish about healthcare expenses. I feel I need to wait at least after the next election because otherwise I have no idea what's to come of the healthcare reforms. I'd hate to take COBRA for a couple of years only to find out in 2013 that the 2014 insurance pools get repealed. (for example)

Then again, life's always a crap shoot, innit?
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Old 05-23-2011, 08:03 AM   #6
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Originally Posted by GalaxyBoy View Post
I'm considering pulling the trigger in a couple of years but frankly I'm squeamish about healthcare expenses. I feel I need to wait at least after the next election because otherwise I have no idea what's to come of the healthcare reforms. I'd hate to take COBRA for a couple of years only to find out in 2013 that the 2014 insurance pools get repealed. (for example)

Then again, life's always a crap shoot, innit?
Healthcare concerns is what kept us from RE'ing a couple of years before we did. We hung on until I qualified for retiree HI benefits, so I can fully understand your concerns.
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Old 05-23-2011, 08:14 AM   #7
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Quote:
Originally Posted by GalaxyBoy View Post
I'm considering pulling the trigger in a couple of years but frankly I'm squeamish about healthcare expenses. I feel I need to wait at least after the next election because otherwise I have no idea what's to come of the healthcare reforms. I'd hate to take COBRA for a couple of years only to find out in 2013 that the 2014 insurance pools get repealed. (for example)

Then again, life's always a crap shoot, innit?
Agreed, but working for another 1.5 years probably is not going to kill you, and it will allow you to save a bit more cash. If you make it to 7/1/2012, then COBRA will get you to 2014 when the real benefits kick in.
That's my plan
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Old 05-23-2011, 08:39 AM   #8
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Agreed, but working for another 1.5 years probably is not going to kill you, and it will allow you to save a bit more cash. If you make it to 7/1/2012, then COBRA will get you to 2014 when the real benefits kick in.
Assuming much of the meat of the 2014 provisions aren't repealed after the 2012 election.
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Old 05-23-2011, 11:11 AM   #9
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There's an unknown regarding future taxpayer support of medical costs. But that won't be settled with the 2012 election or the 2016 election or the 2020 election or .....

This is an ongoing issue that will have uncounted twists and turns, both before and after you're retired.

I agree with your choice of figuring that you'll get 80% of your SS benefit. You might check your numbers with a little more medical care expense. If the numbers still look good, I wouldn't wait.
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Old 05-23-2011, 11:45 AM   #10
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Just assume at LEAST 12% annual individual health insurance increases and you might be planning for enough to cover the cost of healthcare.
Maybe so, but the OP stated he/she is an academic, so I'd be willing to bet that with sufficient years of service before retirement, a significant percentage of retiree health care costs will be taken care of, regardless of what happens with the effort to rollback or repeal much of the recent health care reforms set to arrive in 2014.
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Old 05-23-2011, 12:07 PM   #11
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Assuming much of the meat of the 2014 provisions aren't repealed after the 2012 election.
Hence the title of thread, BTW, Dems can filibuster is good as the Reps.
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Old 05-23-2011, 04:12 PM   #12
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Assuming much of the meat of the 2014 provisions aren't repealed after the 2012 election.
Seems like a good assumption.
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Old 05-23-2011, 04:46 PM   #13
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Trying to ponder whether it would be wise to wait until 2013 (after the 2012 elections--an academic so everything runs on that school calendar) to retire. My figures look okay even with assuming that by taking ss at 70, they will have cut benefits by 20 %. Call me paranoid!
You are paranoid. It is also not clear why you feel you should wait.
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