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61 yo Retired Earlier than expected
Old 09-25-2011, 09:33 PM   #1
Confused about dryer sheets
Join Date: Sep 2011
Location: Indianapolis
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61 yo Retired Earlier than expected

Well I'm free! lol

Retired from managerial job due to symptoms of Parkinson's. Mainly tremor. drooling and weak speech. Employees have trouble overlooking these at times and it's hard to be dynamic with these issues.

I really am doing well otherwise. My wife is 60 and retired in June. She will only get SSI and doesn't draw anything yet

The only debt I have is 40k balance on home. I live in IN I have a $35k rainy day fund I have about $675K in retirement funding and my ex-employer provides medical coverage. My severance pay will carry me to 62 and I am applying for SS disability

I am taking steps to rollover to an IRA at USAA. I do wonder how much to withdraw each month.

Looking forward to the future, Enjoy life!
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Old 09-26-2011, 05:50 AM   #2
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Join Date: Jan 2008
Location: Chicagoland again!
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Hi mact0n, welcome to the forum. Sorry for your condition. Hopefully now that you are retired you can spend more time with your family and attending to your needs.

Regarding your IRA, firecalc is an excellent tool to help you model your finances and estimate the impact of different withdrawals. Also ask questions, many useful answers here (and others not so useful as well).
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Old 09-26-2011, 06:19 AM   #3
gone traveling
Join Date: Apr 2009
Location: Eastern PA
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Wellcome to the forum.

Just a couple of questions on your situation.

You say your DW will be getting SSI. Did you really mean SSI, or normal SS? SSI is a state program (funded by the feds) for disabled folks who never worked, but depending on state has strict qualifications on how much you can really have in assets (most states have a $2K limit - indivudial, $3k - couple). Here's an SSI info SSI link:

Also, if you don't know already, your claim for SSD (Social Security Disability) may/may not be processed quickly, due to the review process and you may be without SSD income (it's backdated to your application date, even if approved month/years later) and even though you will be qualified for early Medicare benefits (don't know how this will work with your former employment's benefits, or amount of coverage) but there is a 24-month waiting period after your SSD is approved.

Anyway, good luck on/with your upcoming challanges for both you/DW...
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Old 09-26-2011, 06:21 AM   #4
Give me a museum and I'll fill it. (Picasso)
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Join Date: Jan 2008
Location: NC
Posts: 17,185
Welcome aboard, I also PM'd you.
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 50% equity funds / 30% bond funds / 20% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
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Old 09-26-2011, 06:53 AM   #5
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Join Date: Feb 2007
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Welcome to the forum.

If you are not familiar with retirement planning, consider taking some of your newly acquired free time and do some self education. There are a number of books on the topic and you can probably find some good ones at your public library.

There are many books available... you can look around on this forum for some recommendations. Since you are approaching the distribution phase of retirement (after disability payments), you should consider developing a solid understanding of how to manage that phase (distribution) and the trade-offs of different options. One book that you will see listed on this forum is Jim Otar's book (Unveiling the Retirement Myth). What I like about his book is that he is not focused on one "trademarked" approach. He compares and contrasts most of the contemporary approaches and show data to help people understand it. The book is written for financial planners. Which means it provides quite a bit of detail. The electronic version (pdf) can be purchased at a very low cost if it is not available at your public library.
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Old 09-26-2011, 08:05 AM   #6
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Join Date: May 2011
Location: South Eastern USA
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Welcome! Sorry for your situation but the good folks here can help with answers.

My wife applied for SSD in 2009. SS determined she became disabled in 2004 and she was back-paid for 24 months (legal maximum) prior to the date of application for SSD and became immediately (as of date of application for SSD) eligible for Medicare. YMMV.
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