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Re: Uh oh---anxiety after one week of FIRED!
Old 08-04-2006, 06:55 PM   #61
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Re: Uh oh---anxiety after one week of FIRED!

Quote:
Originally Posted by tangomonster
And truly there is nothing to be jealous about. The 4 million only came after almost 30 years of hard work with a lot of stress but at a much lower salary than most/many of this board earn/earned, living way below our means, and learning about investing.
And truly I would not be concerned about living on 4 million if it wasn't for those insurance premiums that can reach six figures before Medicare kicks in.
Tango. If you were truly "livin small" while saving all that money you should be able to live now on a very small SWR. In thta case you have to be as safe as anyone can be. But you may be that rare exception who should consider buying an inflation protected annuity - just for the piece of mind. If you go bankrupt due to medical bills can the hospitals go after an annuity? I would think you could at least protect that income source. And, per some other responses, you should seriously consider moving to a state that guarantees better health insurance coverage to ease your anxiety a bit.

I will vote for Hillary in 2008 with you in mind
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Re: Uh oh---anxiety after one week of FIRED!
Old 08-04-2006, 07:23 PM   #62
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Re: Uh oh---anxiety after one week of FIRED!

Tango,
I pulled the trigger for retirement about 6 weeks ago with a little less than half of where you are in $. *I have a tendency to also worry - even after making a decision. *What has helped me is to make a spreadsheet with all dollars I have - specifically where they are (70% stocks)approximate, conserative rate of return I can expect - having a CD ladder and a large amount of cash in MM accounts getting 5+% sitting ready(4+years) to use if the market goes south. *The CDs can be used for income as they become available each March or reinvested into CDs depending on market and CD rates- potential $ of properties that can be sold to fill a gap .. it is all about having options and knowing that no matter what comes up.....even doomsday heath ins. costs may be an issue..but not a knockout situation. Have your "magic plan" spreadsheet readily available for review whenever you feel the "what ifs" getting in the way of a stress free ER. *It's been working for me! *These concerns will diminish with time.....you have it made--enjoy 8) These early days of ER they should be the sweetest! *Don't over think it.......you are good
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Re: Uh oh---anxiety after one week of FIRED!
Old 08-04-2006, 08:56 PM   #63
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Re: Uh oh---anxiety after one week of FIRED!

I worry alot too... and have been FIREd for about a year... with way less than either of you.

MS Money 2006 Deluxe has a feature called Lifetime Planner which allows you to enter in
- age and life expectancy
- expenses as they vary in time. You can show medical insurance and expenses as they change in time with different inflation rates (I assume 30% inflation on medical insurance to age 65)
- property.. and you can include plans to sell it
- investments with user-defined rates of return by investment type
- inflation

You end up with a graph that shows whether you'll make it to your end of plan or not.

Works for me!
Any opinions appreciated.

... Rick S
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Re: Uh oh---anxiety after one week of FIRED!
Old 08-07-2006, 06:33 AM   #64
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Re: Uh oh---anxiety after one week of FIRED!

Rick S. - Good first post! Welcome aboard! Like your little saying (Life is a test ...) - I remember having something to that affect rolling over and over thru my mind when our kids were little! Anyway, your MS Money idea sounds good. Have you used the FIRE Calc by Dory? It is fun and reassuring to pop in different scenarios as well.

Tango- Please hang in there. People can sometimes be a little tough on you - but maybe if you step back emotionally and take it constructively, it may be helpful in the long run. I worry a lot, too. I can't really talk to too many people about our financial situation, because (A) we are in a (usually much) better situation and (B) I wouldn't want to disclose that info to very many folks. I think that in the issue of (A), most people don't sympathize with having "money" problems when you actually do have "enough." You and I should feel "secure", but after years of being financially up and down, it is hard for me to trust this situation. We have always been self-employed and the income always rolled up and down - got better as years went on, but still subject to fluctuations. (FYI- We are not yet out of the business and will hopefully sell out this year.) Anyway this is a "monster" you need to fight thru and conquer in your mind yourself.

The people on this forum are a caring, intelligent (mostly ) group and a lot of them "shoot from the hip" - some ARE cantankerous at times (aren't we all somedays - they call us women folk something else, tho :). Like I said, please hang in there. Don't let some "negative" feedback stop you from posting and venting here. We ALL need the ability to do this here in this "safe" environment.


Wishing you the best,

Jane
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Re: Uh oh---anxiety after one week of FIRED!
Old 08-07-2006, 01:03 PM   #65
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Re: Uh oh---anxiety after one week of FIRED!

Quote:
Originally Posted by Jane_Doe
I can't really talk to too many people about our financial situation, because (A) we are in a (usually much) better situation and (B) I wouldn't want to disclose that info to very many folks.* I think that in the issue of (A), most people don't sympathize with having "money" problems when you actually do have "enough."*
Jane*
This is similar to a fit woman going to a lucnheon with her overweight friends. They all try to make her eat like they do. " Oh, this dessert is divine! Oh, you are so tiny, you can eat anything! Blah Blah Blah."

But she has to resist, or soon she would not be as slim as she desires. But unless she is very socially adroit, it can be tough.

IMO, people enjoy having you in the same (sinking) boat with them.

Ha
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Re: Uh oh---anxiety after one week of FIRED!
Old 08-09-2006, 11:11 AM   #66
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Re: Uh oh---anxiety after one week of FIRED!

My 2 cents re healthcare expenses:

1) There are a number of powerful studies that show many 1st world countries in Europe that have total healthcare expenditures greatly less than those of the US with no particular impact on mortality.

2) The studies in question have been revisited and controlled for cost of living, per capita income, health care standards and pretty much everything else that anyone could imagine -- and the result is still the same. Spending more on healthcare does not make people live longer, on average.

3) The consequence of the explosive increases in healthcare insurance premiums will be, eventually, that people a) do not (can not) pay them and b) they stop going to the doctor as often and accept less service when they do.

4) When they go to the doctor less and accept less service when they do go (fewer diagnostic tests), on average this will not impact national mortality and life expectancy.

5) Overseas healthcare options for Americans are growing and are being embraced. The threat this flow of healthcare dollars overseas poses to the domestic healthcare industry is so enormous that as soon as it reaches some significant proportion that begins to slow earnings growth rates, you can expect Congressional lobbying to begin to punish patients who try it.
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Re: Uh oh---anxiety after one week of FIRED!
Old 08-09-2006, 06:22 PM   #67
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Re: Uh oh---anxiety after one week of FIRED!

You could move to a state that has a high risk pool if your premiums get unaffordable.


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Re: Uh oh---anxiety after one week of FIRED!
Old 08-10-2006, 07:48 AM   #68
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Re: Uh oh---anxiety after one week of FIRED!

Actually, I live in Georgia which does have a high risk pool. But we technically wouldn't qualify, because it's only for people who have no other health insurance----not just because the health insurance premiums we're paying are too high. And it's similarly priced to what we're paying now....
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A fly in the ointment I'm afraid.
Old 08-17-2006, 10:31 PM   #69
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A fly in the ointment I'm afraid.

One thing that has not been discussed here is the possibility that Medicare itself may not be around in 13 years for Ms. Tango or anyone else, at least not in it's present form. Baby boomers will begin to access the Medicare entitlement program five years from now. A Prescription Drug program has been added by baby-boomers for their own use as well. (How generous of us.)* Well guys... who's going to pay for all this? Younger generations will rebel at the truly enormous expense of it all.

Ms. Tango, 13 years is an awful long time to count on a government entitlement program to conveniently remain just as you expect it to be, especially given the upheaval that will no doubt occur when later generations see the bill that they are expected to pay for our cozy long-term retirements with concurrent world-class health care. It's just not gonna happen as we would wish. But with 4 mil in the bank.. you're in far better shape than most of us when it comes to facing up to the economic realities of the future. Terrorists with nuclear weaponry at their disposal will be a far bigger concern to me than who's going to pay for my hip-replacement when I'm 70. After all.. I have to get to 70 first!
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