Hello, my name is Jack. I'm from central NY, 50 miles east of Syracuse. I never post on any forums, so please forgive any faux pas...
My wife and I both turned 60 this month. My wife was lucky enough to retire when she was 57, as her job was beyond stressful. Luckily my salary was enough for us to live on. I have had an ongoing love affair with our 401k's and IRA's for decades. Wife thinks I'm nuts, but I have to always remind her that my obsession with saving and investing was the reason she was able to retire so early. She fought me about putting so much money away way back when, especially when the kids were in college. She now has to admit I was right...
We have just over $1 million saved, and that includes about $130k cash. We have no debt. Mortgage was paid off about 7 years ago. Just one car lease payment. Our 3 kids are all grown and thank God, sucessful and on their own. When I retire in December, I will continue to receive pay checks for another 5 months as my employer pays out a percentage of sick time at retirement if you qualify. I qualify for 60% of my sick time. I can also stay on my company health insurance while I am still being paid. The pay checks will take me to roughly within 14 months of our first SS checks.
I have one big concern, and then a question I would like to poll you readers on.
My concern: Health inusrance. Shocking, I know. I am aware it is going to cost a fortune, but I am considering it the price of freedom. Can anybody who is out there, paying their own insurance give me an idea of
what you pay, and what State you live in? New York and South Carolina residents would be most helpful.
My question: We live in NYS, which is a disaster when it comes to property taxes. We pay about $7k a year. We are considering moving to South Carolina to a Del Webb community, where we can build a new home, valued at more than our current home, and pay less than half the taxes we currently pay. We HATE winter, and crave warmer weather. Big concern is leaving our two grandchildren. Any seniors out there relocate and regret it? Or relocate and love it?
Thanks for listening to my story, and I look forward to some great responses.
My wife and I both turned 60 this month. My wife was lucky enough to retire when she was 57, as her job was beyond stressful. Luckily my salary was enough for us to live on. I have had an ongoing love affair with our 401k's and IRA's for decades. Wife thinks I'm nuts, but I have to always remind her that my obsession with saving and investing was the reason she was able to retire so early. She fought me about putting so much money away way back when, especially when the kids were in college. She now has to admit I was right...
We have just over $1 million saved, and that includes about $130k cash. We have no debt. Mortgage was paid off about 7 years ago. Just one car lease payment. Our 3 kids are all grown and thank God, sucessful and on their own. When I retire in December, I will continue to receive pay checks for another 5 months as my employer pays out a percentage of sick time at retirement if you qualify. I qualify for 60% of my sick time. I can also stay on my company health insurance while I am still being paid. The pay checks will take me to roughly within 14 months of our first SS checks.
I have one big concern, and then a question I would like to poll you readers on.
My concern: Health inusrance. Shocking, I know. I am aware it is going to cost a fortune, but I am considering it the price of freedom. Can anybody who is out there, paying their own insurance give me an idea of
what you pay, and what State you live in? New York and South Carolina residents would be most helpful.
My question: We live in NYS, which is a disaster when it comes to property taxes. We pay about $7k a year. We are considering moving to South Carolina to a Del Webb community, where we can build a new home, valued at more than our current home, and pay less than half the taxes we currently pay. We HATE winter, and crave warmer weather. Big concern is leaving our two grandchildren. Any seniors out there relocate and regret it? Or relocate and love it?
Thanks for listening to my story, and I look forward to some great responses.