Join Early Retirement Today
Closed Thread
 
Thread Tools Search this Thread Display Modes
Old 01-07-2018, 11:55 AM   #41
gone traveling
 
Join Date: Dec 2017
Posts: 73
Quote:
Originally Posted by MissMolly View Post
She says she is only 63 so she cannot collect spousal and allow her own to grow. That option is off the table for those born after 01/01/1954. However, it's possible she could collect survivor depending on how long she was married and if her ex-spouse is deceased.
My ex-spouse is also 63--will be 64 on March 15. he is still alive...I know that I could collect survivor benefits if he was no longer living...but he is. We were married 15 years.
DCJennifer is offline  
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-07-2018, 11:57 AM   #42
gone traveling
 
Join Date: Dec 2017
Posts: 73
I could sell my car--it is paid off-- and has only 11,000 miles and thus no garage fees in my co-op fee and no insurance costs. I know the public transportation system well and used Uber now and then when I worked at the Church which was in Georgetown. It is a 2008 VW Jetta SE and has been garaged since I bought it.
DCJennifer is offline  
Old 01-07-2018, 12:01 PM   #43
gone traveling
 
Join Date: Dec 2017
Posts: 73
Quote:
Originally Posted by Yarnstormer View Post
Im not sure, If you can collect spousal benefits now, I believe you can wait to claim your own benefit and let it grow.
Def file unemployment.
Check out healthcare.gov for insurance
Check on your exes pension for sure!

Sorry for your situation. It does not seem right.
Spousal benefits would be less than I would get from SS in my own. He makes a six figure income, but they have a maximum SS benefit and that is 2670 or so this year. I would get $1700 on my own now.
DCJennifer is offline  
Old 01-07-2018, 12:04 PM   #44
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
ivinsfan's Avatar
 
Join Date: Feb 2007
Posts: 6,743
Quote:
Originally Posted by DCJennifer View Post
My health insurance ends January 31, 2018.
This is the first thing you need to take care of , please carefully consider my comments about pre-existing conditions. The last thing you need now is a large unplanned medical expense.

Use the government website or look for an approved ACA broker the sooner the better. I'd start tomorrow.
ivinsfan is offline  
Old 01-07-2018, 12:11 PM   #45
gone traveling
 
Join Date: Dec 2017
Posts: 73
Since I was once a nurse, I know about the pre-existing conditions, but I really do not have any. Even in nursing I was in Administration not clinical. Thanks for your wonderful reply.
DCJennifer is offline  
Old 01-07-2018, 12:16 PM   #46
gone traveling
 
Join Date: Dec 2017
Posts: 73
Quote:
Originally Posted by UnrealizedPotential View Post
One thing I would do if you haven't done so already is see where you could cut back on expenses. How much could you trim off the budget ? Almost everyone has things they could eliminate and still survive if they had to. See how low you could get your expenses.

That you will give you a better idea of how much you need to survive without a job. One thing I learned is I could survive on a lot less than I thought I could. It may not work for everyone due to where they live and other factors, but it is so worth making the effort to try it.

Here's something else I've learned: The phone companies and the cable companies and just about any other service provider will be more willing to lower your bill if they understand why you want it lower. Especially if they think you will cancel their service if they don't magically come up with a promotional offer that lowers your bill.
I just renegotiated with Xfinity/Comcast last week for a better rate for Internet service only. I told them I had lost my job and got NO sympathy. Instead of raising it to 109.00--they lowered it to $76.00 (not including taxes) which will keep it at about the same rate for a year. Our apartment building is not able to connect to FIOS and so Comcast knows it is the only game in town for us. Many of us here would love to have RCN, but Comcast will not allow them to use their cables -- which is what we have--understandable from a business point of view.
DCJennifer is offline  
Old 01-07-2018, 12:18 PM   #47
gone traveling
 
Join Date: Dec 2017
Posts: 73
Quote:
Originally Posted by ivinsfan View Post
This is the first thing you need to take care of , please carefully consider my comments about pre-existing conditions. The last thing you need now is a large unplanned medical expense.

Use the government website or look for an approved ACA broker the sooner the better. I'd start tomorrow.
I totally agree with you and will do so this week. Many thanks for your response. In medicine I have seen too much of this happen. No one can predict a broken bone or God forbid cancer as well as other conditions we can not predict.
DCJennifer is offline  
Old 01-07-2018, 12:25 PM   #48
gone traveling
 
Join Date: Dec 2017
Posts: 73
Quote:
Originally Posted by Tetto View Post
Your concierge business is a very good business to have! There is a good demand for this type of business in Florida. I would at least consider a relocation to a lower cost of living state like Florida, where you could grow your business there. Good luck!
I have an Aunt who lives in Naples, Florida and Hurricane Irma just about did her in. To replace her pool cage on her pool, which is covered by insurance and to repair the roof will cost $10,000 in deductible funds before the insurance will kick in and this is on a new home in a gated community. She moved there in October 2015.

I am not interested in Florida as a residence, but my business does accompany seniors to their Florida homes in the winter and their Maine homes in the summer when their adult children cannot take time off from their busy lives to do so. I also make sure their living arrangements are set for the season before I leave them to come back to DC.
DCJennifer is offline  
Old 01-07-2018, 12:28 PM   #49
gone traveling
 
Join Date: Dec 2017
Posts: 73
Quote:
Originally Posted by Pilot2013 View Post
You are divorced, but were you married 10 years or more/ If so, look at your options with filing for spousal SS.
I was married 15 years and have checked into my options. We were divorced in 1995. Thanks for your reply, very kind of you to respond.
DCJennifer is offline  
Old 01-07-2018, 12:33 PM   #50
gone traveling
 
Join Date: Dec 2017
Posts: 73
Quote:
Originally Posted by Pilot2013 View Post
I think, unless you signed it away in the divorce, you would be entitled to a portion of his pension.
I will look into that option. No I did not sign away any pension rights that I am aware of, he is a Federal Executive with DOE now and has been with the federal government most of his working career. He makes a large income now.
DCJennifer is offline  
Old 01-07-2018, 12:43 PM   #51
gone traveling
 
Join Date: Dec 2017
Posts: 73
Quote:
Originally Posted by aaronc879 View Post
Take your spending and subtract your SS benefit income. Take that number(annual) and multiply by 25. If you have that much or more in your savings then you don't need to find another job. Example: $24,000 spending minus $15,000 SS income equals $9000/yr needed to live on. $9000 multiplied by 25 is $225,000. Do you have that much? You may not even need to get another job if you are willing to live rather cheaply.
I have that much in savings and in the equity in my apartment. I purchased it in 1996 for about $80,000 and it is now worth $310,000. The co-op fees here (now $1071 per month include garage parking, water, electricity, sewer, trash, grounds maintenance, staff --everything but my cell phone through Republic Wireless--$23.00 per month and my Internet bill of about $86.00 per month with Comcast. My car is paid off and has only 11,000 miles on it and it has been in a garage since I owned it. It is a 2008 VW Jetta and like new inside and out. If I sell it I would save insurance costs of $965 per year, inspection fees every two years and tag renewals every year of $72.00 as well as $130 a month to house it in the garage.I have about $150,000 in an IRA/401k savings. $20,000 in liquid savings. I also have to think about when Medicare kicks in as that will be an expense in over a year.
DCJennifer is offline  
Old 01-07-2018, 12:47 PM   #52
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
ivinsfan's Avatar
 
Join Date: Feb 2007
Posts: 6,743
Quote:
Originally Posted by DCJennifer View Post
I have that much in savings and in the equity in my apartment. I purchased it in 1996 for about $80,000 and it is now worth 310,000. The co-op fees here include garage parking, water, electricity, sewer, trash, grounds maintenance, staff --everything but my cell phone through Republic Wireless--$23.00 per month and my Internet bill of about $86.00 per month with Comcast. My car is paid off and has only 11,000 miles on it and it has been in a garage since I owned it. It is a 2008 VW Jetta and like new inside and out. If I sell it I would save insurance costs of $965 per year, inspection fees every two years and tag renewals every year.I have about $150,000 in an IRA/401k savings. $20,000 in liquid savings.
You can't count your house equity, unless you sell the condo and then you need to pay rent... your nut is 170K...
ivinsfan is offline  
Old 01-07-2018, 01:07 PM   #53
gone traveling
 
Join Date: Dec 2017
Posts: 73
I can possibly downsize to a studio--I have a large one bedroom now. I could pay off the studio when I sell mine. I have heard that it is not wise to put all your cash in a home. I have to factor in that the co-op fees will rise and Medicare will also be part of the equation in less than two years as well.
DCJennifer is offline  
Old 01-07-2018, 01:17 PM   #54
Moderator Emeritus
aja8888's Avatar
 
Join Date: Apr 2011
Location: The Woodlands, TX
Posts: 12,390
I'd keep the car. A 2008 Jetta with 8,000 miles on it is still a 9+ year old car and you won't get much for it. Plus, it's reliable with low miles and you may need a car in the future if things change.
__________________
Everyone has a plan until they get punched in the mouth...philosopher Mike Tyson
aja8888 is offline  
Old 01-07-2018, 01:36 PM   #55
Dryer sheet aficionado
 
Join Date: Jan 2018
Location: Cleveland
Posts: 28
Quote:
Originally Posted by DCJennifer View Post
The District of Columbia website clearly states that churches do not pay the unemployment tax and therefore no benefits will be paid. I also called and spoke to an attorney who is employed there...they checked and sure enough, NO benefits. Thus I do not qualify. I tried to get the Rector to pay more in severance, but he would not. I worked there 2.5 years and left the medical world to do so as I felt I had a calling even though it paid less.


Again it does not matter. Please do yourself a favor and apply! They also offer employment services for free.
bigadventure is offline  
Old 01-07-2018, 01:55 PM   #56
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 22,277
Another thing to consider is whether you're open to relocating to a lower COL area. I'm familiar with the D.C. area (used to live there) and it is expensive to stay there. That would probably mean starting over with your business though.

Would you be open to working at something else to get a foot in the door? At least a few years ago Home Depot offered health insurance for part time people who worked at least 20 hours a week. I think Giant Food does too. Both are large organizations and surely have a need for clerical/administrative staff but the number of positions are limited. Okay, bagging groceries sounds pretty boring but it's a job, and if you establish a solid work history then it should be easier to transfer to a job you like better when one opens up.

How about nursing homes, doctor's offices, rehabilitation centers, and the like where a background in nursing would (I'd think) be a plus even if your certifications aren't current.

Oh, one thing on SS I haven't seen mentioned. I don't know for sure if the changes last year changed this item, but it used to be that if you started SS and then got a job, you could then stop SS and the benefits would continue to accumulate, minus the time you were taking SS. Then when you were really ready to retire (or hit age 70) you could restart SS. You could only do this once though.

I do hope all works out for you.
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline  
Old 01-07-2018, 01:55 PM   #57
gone traveling
 
Join Date: Dec 2017
Posts: 73
Quote:
Originally Posted by bigadventure View Post
Again it does not matter. Please do yourself a favor and apply! They also offer employment services for free.
OK I will do so.
DCJennifer is offline  
Old 01-07-2018, 01:59 PM   #58
gone traveling
 
Join Date: Dec 2017
Posts: 73
Quote:
Originally Posted by Walt34 View Post
Another thing to consider is whether you're open to relocating to a lower COL area. I'm familiar with the D.C. area (used to live there) and it is expensive to stay there. That would probably mean starting over with your business though.

Would you be open to working at something else to get a foot in the door? At least a few years ago Home Depot offered health insurance for part time people who worked at least 20 hours a week. I think Giant Food does too. Both are large organizations and surely have a need for clerical/administrative staff but the number of positions are limited. Okay, bagging groceries sounds pretty boring but it's a job, and if you establish a solid work history then it should be easier to transfer to a job you like better when one opens up.

How about nursing homes, doctor's offices, rehabilitation centers, and the like where a background in nursing would (I'd think) be a plus even if your certifications aren't current.

Oh, one thing on SS I haven't seen mentioned. I don't know for sure if the changes last year changed this item, but it used to be that if you started SS and then got a job, you could then stop SS and the benefits would continue to accumulate, minus the time you were taking SS. Then when you were really ready to retire (or hit age 70) you could restart SS. You could only do this once though.

I do hope all works out for you.
If I had to work for a grocery, it would be Trader Joes as they match your pension benefits 15% and they treat their employees really well. This would be a last resort!
DCJennifer is offline  
Old 01-07-2018, 02:11 PM   #59
gone traveling
 
Join Date: Dec 2017
Posts: 73
Quote:
Originally Posted by DCJennifer View Post
If I had to work for a grocery, it would be Trader Joes as they match your pension benefits 15% and they treat their employees really well. This would be a last resort!
I used to work as a surgical coordinator for five surgeons and have managed two doctors offices. As recently as three years ago I was a floor supervisor for an Internal Medicine practice (never again!) Surgery is fine and I have been looking there but while I am certified it is older and they want new grads now. I would rather do something else. I would rather be a family personal assistant or do my own business since I could do that into retirement.
DCJennifer is offline  
Old 01-07-2018, 02:32 PM   #60
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 4,052
Quote:
Originally Posted by DCJennifer View Post
I have that much in savings and in the equity in my apartment. I purchased it in 1996 for about $80,000 and it is now worth $310,000. The co-op fees here (now $1071 per month include garage parking, water, electricity, sewer, trash, grounds maintenance, staff --everything but my cell phone through Republic Wireless--$23.00 per month and my Internet bill of about $86.00 per month with Comcast. My car is paid off and has only 11,000 miles on it and it has been in a garage since I owned it. It is a 2008 VW Jetta and like new inside and out. If I sell it I would save insurance costs of $965 per year, inspection fees every two years and tag renewals every year of $72.00 as well as $130 a month to house it in the garage.I have about $150,000 in an IRA/401k savings. $20,000 in liquid savings. I also have to think about when Medicare kicks in as that will be an expense in over a year.
Sounds like you can get by fine while you take your time looking for a new job. I think you could get by without ever having a job again but things could get tight if you live along time. I think I would hold off on collecting SS for a few years even if you don't find a job but you should probably try to find at least part time work to reduce how much you have to take from savings. Good luck.
aaronc879 is offline  
Closed Thread

Tags
early retirement, health insurance in er, job elimination, when to take ss


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
My job was eliminated at 63 years DCJennifer Hi, I am... 4 01-07-2018 07:40 AM
Job eliminated Hoping to retire. gbstack Hi, I am... 25 05-09-2013 07:37 PM
57 job eliminated would LOVE to RE, but nervous that I cant afford it. smurray5991 Hi, I am... 17 11-11-2012 04:33 PM
Company eliminated the Pension renferme FIRE and Money 17 08-26-2005 09:56 AM
Health Care for Retirees Eliminated runnerr FIRE and Money 62 05-21-2005 08:14 PM

» Quick Links

 
All times are GMT -6. The time now is 01:59 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.