Basic important pre-retirement planning things I didn't even realize I didn't know
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JoeWras
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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The retiree health care thing is pervasive at my Megacorp. Very few people know it exists. It is full pay, no discount, but the network is excellent compared to similar ACA plans. Well worth it if you don't need the subsidy. I'm not sure why Megacorp doesn't talk about it. They used to list it in the benefits booklet, now it is buried on some web page somewhere. I guess not too many people retire, they leave first.
The other thing to mention is possible access to 401k at 55. Not all plans allow it, but those that do it can really be a huge help.
The other thing to mention is possible access to 401k at 55. Not all plans allow it, but those that do it can really be a huge help.
OP....I see where you said you will not have a pension ....nor SS. How is this possible? I may have missed it but even self employed people pay into the SS system. How is it that you will not qualify for SS? Do you not have 40 quarters of employment? Just curious and I must be missing something?
I have never paid into SS, (nor pension). Instead my employer has a 401a. Probably about 5% of workers are not in SS.
One thing I didn't plan on was my wife's reaction to getting subsidized health care - she hates it, especially having our kids on medicare. Fortunately for her, but unfortunately for me, we sold a few rental houses this year and the capital gains kicked us out of the subsidy for next year so we will get to pay an additional $500'ish per month.
Backpacker
Recycles dryer sheets
One thing our fee based FA did was to force us to admit the probable need for a line item in the budget for"helping out" adult kids. As much as we'd like to think that they all are over 21 and on their own, several of the 5 still seem to need the odd extra 300-500 bucks once or twice a year. Not major but still rather than being in denial about it we put it in the budget. I really hated that he was right 
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Carpediem
Full time employment: Posting here.
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One thing our fee based FA did was to force us to admit the probable need for a line item in the budget for"helping out" adult kids. As much as we'd like to think that they all are over 21 and on their own, several of the 5 still seem to need the odd extra 300-500 bucks once or twice a year. Not major but still rather than being in denial about it we put it in the budget. I really hated that he was right
Ugh....I guess I need to revise my retirement budget as well as we have 3 over 21 adult kids 'living on the edge'. In fact, we just heard 'through the grapevine' that one of them isn't driving his own car because he allowed his license tabs to expire.
I think tax diversification is often over looked. Many discussions on the ER forum have people disagreeing because one is using after tax funds and the other TIRAs. Both have good points from their perspective. I think many people don't really plan out there ER tax diversification, myself included.
