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Old 06-06-2015, 09:28 PM   #21
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My wife has CANCER. It's pretty hard to just walk away from a Cadillac health care plan when your spouse has CANCER. Sure she's in remission now, but for how long, next CT scan? Next time blood shows up in the urine? Great advice if you are healthy, not so much if you have been down the CANCER road a time or two
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Old 06-06-2015, 11:19 PM   #22
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CANCER.
I learned to hate that word too......and the feeling of helplessness, knowing there's absolutely nothing you can do to affect the outcome, or for that matter...anything.......I wish you both the best of luck.
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Old 06-07-2015, 02:44 AM   #23
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I stopped 1/15/14 when I was 65 and had enough money. Sooner wasn't important to me but now I didn't want to spend more time working.
One thing people don't think of is getting value from buying a retirement home or boat. My boyfriend got a home and boat at 66 and has been so busy playing with his house and land he hasn't had time to catch fish. The boat was expensive and he has only had it out about 10 times in a year, this week striping and staining his porch, playing with baby chickens and other household chores. I hope he has many years to enjoy that boat and house it would be a waste to only get a few uses from the boat and a few years from the house. Retire young so you can play with toys longer, Harley rides, boat rides, riding lawn mower rides, buy a steer and watch it grow, get a cat and out live it. You don't want to get all set up then not have time.
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Old 06-07-2015, 09:15 AM   #24
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I'm sort of on the fence on this. When I see people who look to be in their 70s bagging groceries or passing out samples at the grocery store I wonder if they do it to get out and be around people or if they realized too late that they retired too early. One poor old guy was there bagging groceries only once; I remember he was really slow and we never saw him again. I remember thinking the same thing when a previous employer gave early-retirement incentives to a wave of long-time employees in their early 50s. Many said they weren't going to look for another job and would travel and visit their grandkids. Good actuary that I was, I wondered how many people would realize 20 years later that their fixed pension plus SS wasn't
enough.


I think, though, that worry about poverty in old age was a good incentive for me to save. When my own job turned sour a year ago at age 61, 4 years earlier than I'd planned to retire, I left and I haven't looked back. Our net worth is higher than it was a year ago despite no wages. DH's health issues are catching up with him (he's 77) and, although he still does 99% of the driving on road trips and we're going to Iceland in August, my dream of a post-retirement trip to Australia and NZ is gone- DH just can't take serious long-hauls anymore, even in Business Class. (We're spending 2 nights in Boston before flying to Iceland, which is only 5 hours from BOS.) I'm very glad I retired while DH still (likely) has some good years left.
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Old 06-07-2015, 02:06 PM   #25
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We get the concept but are still nervous about losing 8000k (after savings) deposited in the checking account every 2 weeks.

Lots of well-to-do folks on this board, but I'm not one... You make more in two weeks than I've managed to save in a lifetime...

I'm almost to my goalpost. The 401k, plus a small pension, plus early SS, plus subsidized health insurance, will provide a lifestyle equivalent to w*rking at my current salary, so no OMY here!

Sixty-one plus isn't all that early, but it was a fast as I could go!

As I get older, more and more people I know/knew have serious, sometimes fatal, maladies. On the other end of the spectrum, I w*rk around several 70+ (one 80+) who are still w*rking, even though they have more money than they can spend, because they were too bored to retire. And I too see lots of older folks working who don't appear to be thrilled with that idea, but likely have to w*rk.

Speaking of older folks, my dad, now 84, says of drivers in Florida, "These old people can't drive"...
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Old 06-09-2015, 02:06 AM   #26
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I have one more gloomy story to tell, this one about a close friend of my wife. This woman was in her late 50s, had a pension and 401k, but the latter was pummeled when the market crashed in 2008. So, she held out and tried OMY while waiting for the market to recover. And while working was when she was diagnosed with cancer, and died in less than 2 years.

It was so sad. Would it really matter if the market crash did not happen, so that she could retire as planned, and have one year of retirement? When people make plan for their retirement years, they think decades, not one or two years. But such is the uncertainty we face. Make plans, and run spreadsheets and retirement calculators all you want, it may be just for naught.
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Old 06-09-2015, 05:44 AM   #27
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For me I have to balance these "gloom and doom" sudden and early death stories with the possibility of extreme old age. As a single woman at 58 (in perfect health) with no support from anyone else I have examples of women in my immediate family living to age 98. So I work on and will probably do so at least 5 more years. Security is highly important to me even if numbers on paper confirm I am already "secure" financially.
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Old 06-09-2015, 08:13 AM   #28
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Knowing what I know now, I should have jumped at 45 not 49. I was so wrapped up in the BS of work (hitting my regional numbers and watching my back) that I never crunched numbers or found this forum. If you found this forum and are figuring your expenses and assets you are in the home stretch.

+1. Happy to find this and doing just that.
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Old 06-09-2015, 09:46 AM   #29
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I'm retiring next spring at 54 and "buying" my last year of pensionable service to avoid penalty. Being in a very large MegaGovt office, I've been to far too many funerals of co-workers and former co-workers...some of them who got ill shortly after they retired.

Sadly, some people stay long after they are eligible to leave because they say they will be bored or they made recent large purchases and can't afford to leave. Anyone can buy a bigger house or a boat...I am choosing to buy my last year of service. Relaxing on my deck with an 8-year old car in the driveway beats sitting at a desk with a new car in the company parking lot.
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Old 06-09-2015, 09:54 AM   #30
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We get the concept but are still nervous about losing 8000k (after savings) deposited in the checking account every 2 weeks.
Hangonasec - you make $8000K (after savings) every 2 weeks?

That's a typo right?
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Old 06-09-2015, 10:06 AM   #31
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hangonasec - you make $8000k (after savings) every 2 weeks?

That's a typo right?
$80,000k fify
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Old 06-09-2015, 11:18 AM   #32
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Originally Posted by Derslickmeister View Post
My wife has CANCER. It's pretty hard to just walk away from a Cadillac health care plan when your spouse has CANCER. Sure she's in remission now, but for how long, next CT scan? Next time blood shows up in the urine? Great advice if you are healthy, not so much if you have been down the CANCER road a time or two
Very sorry that you and your wife are dealing with cancer, Derslickmeister. While a cadillac health plan is nice, with the ACA there is no longer the pre-existing condition bogeyman hanging over your head. You can actually budget for what your health care costs will be - premiums (probably higher than you pay now, but not totally outrageous, deductibles (ditto), and co-pays up to the out-of-pocket maximum. Someone here even posted a nifty spreadsheet they developed to let you model different plans and different assumptions about costs to show you what you need to budget for and what plans work best.

So if you have a large enough "emergency fund" to cover several years of maximum healthcare costs, you don't need to OMY just to keep the cadillac plan. And you could enjoy the time with DW. Just sayin'....
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Old 06-09-2015, 04:00 PM   #33
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So we missed the African Safari, the Alps, the Danube Cruise, and my dream trip back to Nikko...
Great post. When I tell people I am retiring early the first thing they ask about is travel plans. The reality is that my budget doesn't have alot of travel money. I'd rather have 52 weeks off than have 4, 6, or 8 weeks of "being somewhere else". When I tell people that they react as if I have two heads.

I waited 2 more years, but I am DOING IT NOW!
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Old 06-09-2015, 04:20 PM   #34
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I have one more gloomy story to tell, this one about a close friend of my wife. This woman was in her late 50s, had a pension and 401k, but the latter was pummeled when the market crashed in 2008. So, she held out and tried OMY while waiting for the market to recover. And while working was when she was diagnosed with cancer, and died in less than 2 years.

It was so sad. Would it really matter if the market crash did not happen, so that she could retire as planned, and have one year of retirement? When people make plan for their retirement years, they think decades, not one or two years. But such is the uncertainty we face. Make plans, and run spreadsheets and retirement calculators all you want, it may be just for naught.
I think the old Jewish proverb has it about right Yiddish Wit: Man plans and God laughs.
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Old 06-09-2015, 04:23 PM   #35
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My wife has CANCER. It's pretty hard to just walk away from a Cadillac health care plan when your spouse has CANCER. Sure she's in remission now, but for how long, next CT scan? Next time blood shows up in the urine? Great advice if you are healthy, not so much if you have been down the CANCER road a time or two
Your situation throws all the conventional wisdom out the window imho--docs and treatment plans in place and covered under your employer's Cadillac health for your spouse vs ACA that is only in its second year and still under attack? I know we would choose staying employed too.

Happy to hear she is in remission--hang in there. Hope your employer is understanding of any need for time off too.
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Old 06-09-2015, 05:28 PM   #36
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Originally Posted by Derslickmeister View Post
My wife has CANCER. It's pretty hard to just walk away from a Cadillac health care plan when your spouse has CANCER. Sure she's in remission now, but for how long, next CT scan? Next time blood shows up in the urine? Great advice if you are healthy, not so much if you have been down the CANCER road a time or two
I'm sorry to hear this. I can relate as my husband was diagnosed with cancer in December, 2010. All is going well thus far, but when testing time comes around, fear creeps in.

Best wishes for your wife...and you.
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Old 06-09-2015, 10:29 PM   #37
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We are hosting a friend of ours, and his family at times, in his mid 50s, while he gets some of the best stage IV treatment in the country.

Are You doing Things that MATTER? Maybe that is w*rk, maybe not, or something in between...
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Old 06-10-2015, 10:12 AM   #38
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Relaxing on my deck with an 8-year old car in the driveway beats sitting at a desk with a new car in the company parking lot.
Lot of truth in this statement. However too many people are spending and working to keep up with the Jones's.
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Old 06-10-2015, 10:50 AM   #39
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Lot of truth in this statement. However too many people are spending and working to keep up with the Jones's.
As they expression (attributed to numerous individuals) goes:

Quote:
"People buy things they don't need, with money they don't have, to impress people they don't like"
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Old 06-10-2015, 05:51 PM   #40
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I learned to hate that word too......and the feeling of helplessness, knowing there's absolutely nothing you can do to affect the outcome, or for that matter...anything.......I wish you both the best of luck.
So sorry to hear this, Derslickmeister. My nephew, at age 40, was recently diagnosed with ALS. He has two boys and a wife. We all feel helpless, but the fact is we can help in many ways. We can, once we fully retire, fly out there and help around the house, weed the yard, fix stuff, etc. We can contribute to a "gofundme" account knowing we are helping pay for in home care. And many other ways as well. Getting the news about my nephew was awful, and made/makes us think about living every day to the full. Because you never know.....
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