Come on... tell us to retire now

[Birchwood]

Hi Rkser.
I am a 62 yrs old physician on the verge of retirement. I have more on the liquid asset and retirement fund. I also have a daughter that got married. I also sent her to college(2 degrees), before finding gainful employment.
From this age till 65.5 I have to fund my health insurance thru BLue S and C, and pay for our long term insurance. This is a big expense for us.

In the last few years, we have been trying to "downsize" on everything. We discover, we really don't need all these crap to be happy, and have been trying to emphasize in doing more(experiencing life), rather than buying stuff.

Although I'm healthy and working full time, we figure we can reduce our yearly expense to about 80K +SSS. In a good year when the market is up, we can spend more. We'll downsize in house, and will keep the 3 vehicles until they are very old. I'll focus on some hobbies, and some travel.
I plan on daily vigorous exercises, and afternoons reading and monitoring our investments.

Good luck to you.

 

[Midpack]

Can you establish a domicile in Mass? We have the health exchanges here, no pre-existing conditions, you can insure. It's not going away, people love it.

We won't leave the state because we don't have to worry about health care.

Not new news, but interesting in itself given the health care debate...no hijack intended!

 

[ziggy29]

Can you establish a domicile in Mass? We have the health exchanges here, no pre-existing conditions, you can insure. It's not going away, people love it.

This had actually crossed my mind. But this requires establishing legal residency doesn't it? It's not a bad idea if someone was considering retirement there (but because of weather and taxes I don't think many people do), but if guaranteed access to health insurance without underwriting is one of the most important factors -- possibly important enough to overshadow weather and taxes -- then yeah, Mass would probably be on a short list of possibilities.

 

[BellBarbara]

The taxes are not that bad, flat rate,slightly over 5%. But if he can live from cash until medicare, who cares? I am not sure what you have to do to establish here, but the health insurance is required. 98% of the state is now insured.

 

[rkser]

Thanks to ObGyn65 and each one who contributed to this thread,

A Good Calculator from Merrill, it said we are good for retiring .


Thanks and regards

 

[REWahoo]

A Good Calculator from Merrill, it said we are good for retiring .

Before you become too enamored with the results from that particular calculator, you might want to read this thread, beginning with post #8: http://www.early-retirement.org/forums/f28/so-many-calculators-so-little-time-60398.html