I stumbled into ER

[Chaps]

Hi all, nice community you have here!  I retired early almost ten years ago and I'm still only 55. I guess it didn't exactly feel like retirement, it felt more like being out of work frankly but the terms and conditions were OK.

I started a business in 1974 without money, a degree or experience and toughed it out until a big competitor bought me out 20 years later, hence the user name: Cashin' out.

Anyway, hope to learn some things here and I'll contribute when I can. I'm a lousy investor (actually an ultra-conservative one) so would love to feel more confident on that side of life.

I still have fairly young kids (got a late start) so there won't be any running off to spend the rest of my life in Costa Rica anytime soon. Spousal unit isn't ready for that scene anyways.

We live modestly, older vehicles, paid-off regular house, couple of small rentals, etc. Living off the interest so to speak.

Just proves it can be done even startin' out broke & dumb. Oh, I waste my time doing volunteer work and raising hell with the local city council on any interesting matters that pop-up.

 

[Cut-Throat]

Interesting Story.

A topic that keeps coming up here is Health Care. How have you handled yours?

 

[Chaps]

Thanks for the response . . .

health care -- man, that is something I also don't quite get. The Mrs. has us buying coverage with a high annual deductable ($3000 per family member I think) for $340 a month, our choice of doctors. We never hit the deductable so I guess its kind of a mini-catastrophic type of policy with me paying all the bills so far. Does this sound reasonable?

BTW, what are dryer sheets?

 

[Cut-Throat]

How much would you say that you have spent on health care in an Average year since Retiring? - This would include Insurance and all out of pocket costs?

Dryer Sheets - Hmmmm - A long story - Do a search on this forum and be prepared to read for a while.

 

[REWahoo]

BTW, what are dryer sheets?

Here's a good place to start..

http://early-retirement.org/forums/index.php?topic=4763.msg82830#msg82830

Welcome to the forum.

 

[Chaps]

How much would you say that you have spent on health care in an Average year since Retiring?  - This would include Insurance and all out of pocket costs?

Well, about $4000 in premiums, the kids (2) rack up about $500-$800 per year combined (check-ups, stitches, etc.), the wife maybe $1200 (check-ups, labs, etc.), myself probably averaging $2000 per year (I have a few joint issues) so what is that . . . $8000 per year? Nothing to sneeze at . . . how does that compare to the norm around here? Prescriptions are nicely subsidized so that's good. Numbers of course don't include dental or optics.

 

[Chaps]

Here's a good place to start..

http://early-retirement.org/forums/index.php?topic=4763.msg82830#msg82830

Welcome to the forum.

OK - got it . . . I'm into frugality too, looks like I've found a home. Thanks for the welcome.

 

[uncledrz]

Well, about $4000 in premiums, the kids (2) rack up about $500-$800 per year combined (check-ups, stitches, etc.), the wife maybe $1200 (check-ups, labs, etc.), myself probably averaging $2000 per year (I have a few joint issues) so what is that . . . $8000 per year? Nothing to sneeze at . . . how does that compare to the norm around here? Prescriptions are nicely subsidized so that's good. Numbers of course don't include dental or optics.

Seems about right in the ball park. Some are higher, some lower in total cost. There has been quite a bit of discussion on this board over the past year about health insurance, health care and healthy lifestyles so if you browse the past 6-12 months you'll get a pretty good idea of what people are actually paying for health care/health insurance.

One further note, in your initial post you mention "Just proves it can be done even startin' out broke & dumb". I don't know about the dumb, but I'm certain that "persistent and hard working" also fit into that mix.
Welcome.
Uncledrz

 

[slipp1229]

Hi Cash, Welcome!

Just wondering, as many others on this site proabably are...

What was your total "nest egg" from the competitor buy out?
I ask because we all have different criteria where we feel
comfortable "Cashing Out". What was yours? Especially with
two young children at 45! What was the magic number??

Thanks
Slipp

 

[BUM]

Welcome Cashin'out.

Your healthcare costs are good compared to some. Your out-of-pocket expenses can be bothersome but it doesnt seem that you're ever reaching your deductable. That can be a good thing. If you don't think so consider lowering it...of course your premiums will go up some.

What state do you live in?.... Hey, don't answer any questions you're not comfortable answering. Some here like to push the new fish through a few screens. Welcome a-board.

 

[slipp1229]

Hi BUM


[ Hey, don't answer any questions you're not comfortable answering. Some here like to push the new fish through a few screens. Welcome a-board.

Was my inquiry to Cashin Out the "question" you were referring to?... I thought it rather innocent in a forum of anonymous individuals.  That is the true beauty of this type of exchange forum ... you can ask questions and get answers (accurate or not) that one might not be comfortable asking a stranger in person.  

Slipp 

 

[Howard]

Health Care on most countries outside of the USA is provided by the State, and that is why US Manafacturing have a difficult time competing with Global Manafacturers, they are bearing a cost that is elsewhere not applicable.

Foreign Manafacturers are being directly subsidised and I am surprised that the Government have not challenged this.

I am English, now Canadian,when I retired at 54 I gave no thought to Health Care costs, I do not pay anything for it, it comes from my Income Tax.

The sytem is not as accessible as in the US but it does work, and I don't live in fear of not being looked after when I am sick.

My Brother just had Bypass Surgery, 4 days from diagnosis to surgery.

Rough Figure of $40,000 a year, No Debts, is what is considered reasonable to Retire On, , Government pensions for a couple are $25,000(about).