Sub $1M no pension retirement? Any out there?

[Totoro]

Just to follow-up, my impression from fora and net worth:

• Bogleheads very high: 3 to 10m is pretty typical
• Then this forum: typically 0.5 to 3m
• MMM, ERE (sort of defunct) lowest: rarely above 2m
• Reddit and such: aspirationals: mostly paying off credit cards and house.

[brewer12345]

Quote:

Originally Posted by Totoro Just to follow-up, my impression from fora and net worth: Bogleheads very high: 3 to 10m is pretty typical Then this forum: typically 0.5 to 3m MMM, ERE (sort of defunct) lowest: rarely above 2m Reddit and such: aspirationals: mostly paying off credit cards and house.

As far as MMM goes, make sure your instrumentation is working if you go wading in over there.

[ItDontMeanAThing]

Quote:

Originally Posted by cyber888 Nice. So what country are you in right now.

The User Profile feature of this site allows you to input a location, which then displays in the left hand column of your posts between Join Date and Number of Posts. Mine says:
Location: Hua Hin, Thailand

[FREE866]

It really just comes down to your expenses. So far my expenses are less than I anticipated.

[swguy]

Quote:

Originally Posted by ItDontMeanAThing The User Profile feature of this site allows you to input a location, which then displays in the left hand column of your posts between Join Date and Number of Posts. Mine says: Location: Hua Hin, Thailand

Perhaps you are not aware, in the ER Forums app the information you mention is not displayed.

Sent from my SM-T550 using Early Retirement Forum mobile app

[Lstansbury]

Quote:

Originally Posted by alaska55 Now on to OP question, I retired 3 1/2 years ago with about 425,000 spilt 50/50 betweenn a IRA and taxable account with a very small pension of $257 a month starting at 65. I will start SS in August at 62 of about $1750. I'm single so that's about half of $800k. I topped out in the 50k range late in my working years. I did inherit a certain period annuity of $550 a month that ends at 66. I'm up to 450k and at 3.75% WD rate that give me about 41K a year to live on after 66 which is just fine for me. I can easily live on 30K a year.

Do you live in a home that you own? We are very similar in situations, but I still have a mortgage. thank goodness its a condo, maintenance is a lot cheaper

[Lstansbury]

Quote:

Originally Posted by garyt It's definitely all about healthcare. If we had coverage in retirement I'd be gone now. Heck, if I thought the ACA would be around awhile I could manipulate my income enough to qualify for the largest subsidy, Medicaid even.

Be careful on the Medicaid qualification. It isn't just about income, it's also about assets. Depending on the state, you might need to be down to $2K in assets not counting your home or car.

[Surewhitey]

We're in a similar boat, here. Paid for home ($400k) and $850k spread out over many 401k's / accounts. We took off a few years living in Mexico. Healthcare is very reasonable there unless you have some exotic blood disorder, then the US or Europe may be the place to be. We had catastrophic insurance for that possibility.

Came back to TX as we now have a GD and decided to live down the street from them. Our expenses are like clockwork, $3000 / month for basics and travel. Add in insurance and property tax, that takes us to $4500, tops.

DW will get a small pension of appx. $900 at 65 and SS will likely be $3,500-ish for the two of us. The problem is we're 10-15 years from that. Our goal is $1mm + house to pull the plug or ease into full-time. The 3 year hiatus was a nice "test" period and we really enjoyed the experiences there. We're looking to the next 2 years to give us more clarity, but I'm ready to pull the plug on this "life"... we'll need a cash pile to cash flow us to FR or at least 59.5

BTW, we always had positive cash flow while in Mexico, so I feel pretty confident we can do it.

[garyt]

Quote:

Originally Posted by Lstansbury Be careful on the Medicaid qualification. It isn't just about income, it's also about assets. Depending on the state, you might need to be down to $2K in assets not counting your home or car.

From reading I thought (we have expanded Medicaid in Mi if that matters) that it was simply income? I guess I just tossed Medi in with the ACA subsidies?

[MichaelB]

Michigan has expanded Medicaid.

[xdafly]

Quote:

Originally Posted by garyt It's definitely all about healthcare. If we had coverage in retirement I'd be gone now..

Why is it all about healthcare?

Our entire family (all born in US) take medical trips overseas. For example, recently, business class round trip to Narita/Tokyo for MRI. Total cash price including an overnight stay, including ticket, including labs/MRI results, under $1000. No insurance needed and everything was handled in english at high tech facilities. Have done the same for dental work in Colombia, Costa Rica, other family members used a surgery center in India with US trained surgeons and ultra-high tech hospital with private rooms and 5 star food service. Typical cost is less than 10% of US prices.

There is also surgerycenterok.com where bypass cost inclusive of ALL possible complications is 10,700 cash. No insurance wanted or needed.

Again, why is it all about healthcare?

[MichaelB]

Quote:

Originally Posted by xdafly Why is it all about healthcare? Our entire family (all born in US) take medical trips overseas. For example, recently, business class round trip to Narita/Tokyo for MRI. Total cash price including an overnight stay, including ticket, including labs/MRI results, under $1000. No insurance needed and everything was handled in english at high tech facilities. Have done the same for dental work in Colombia, Costa Rica, other family members used a surgery center in India with US trained surgeons and ultra-high tech hospital with private rooms and 5 star food service. Typical cost is less than 10% of US prices. There is also surgerycenterok.com where bypass cost inclusive of ALL possible complications is 10,700 cash. No insurance wanted or needed. Again, why is it all about healthcare?

It's all about healthcare because the average cost for a large group policy is 31% of the median household income before payroll taxes, and overseas travel is may be an option for a few people for some selective procedures but is in no way a viable system for primary care for the majority. We all can't get on a plane to Japan, India or Costa Rica every time we need to see a doctor.

[Lagniappe]

Quote:

Originally Posted by xdafly Why is it all about healthcare? Our entire family (all born in US) take medical trips overseas. For example, recently, business class round trip to Narita/Tokyo for MRI. Total cash price including an overnight stay, including ticket, including labs/MRI results, under $1000. No insurance needed and everything was handled in english at high tech facilities. Have done the same for dental work in Colombia, Costa Rica, other family members used a surgery center in India with US trained surgeons and ultra-high tech hospital with private rooms and 5 star food service. Typical cost is less than 10% of US prices. There is also surgerycenterok.com where bypass cost inclusive of ALL possible complications is 10,700 cash. No insurance wanted or needed. Again, why is it all about healthcare?

I am curious about this. How do you identify reputable physicians and facilities from the US?

Also, I can see it for one time issues requiring intervention, but for chronic conditions, is there some kind of virtual support?

Btw, please tell me what site you used to get a business class ticket to Tokyo for under $1000.

[MrLoco]

Not for nothing and no offense but I do not see the appeal in my retirement years of having to travel to other side of the globe to have an MRI or travel to a third world country for surgery. Especially multiple times over the course of a 30 year retirement.

YEs. I get it. You save a ton of money. But I have been to medical facilities in a 3rd world country (Philippines) and full payment is expected up front. Also the patient is expected to provided linens for the bed, food not included, etc. This is provided by family members.

And even though some physicians may have been trained in the US....no way the technology is up to par with most US Hospitals. Not cutting edge. And when it is my body....I want the absolute best. Which is why when the very rich from 3rd world countries ( the few that there are) need complicated surgery....they travel to the US or Europe/ Australia/Japan. And if the surgery is botched what do you do? Try suing a physician / hospital in a 3rd world country.

[xdafly]

Quote:

Originally Posted by MichaelB It's all about healthcare because the average cost for a large group policy is 31% of the median household income before payroll taxes...

Multiple married couples, in different CONUS locations, pay on the average $175 for 2 persons per month for concierge medical service. When and if something is needed, a little domestic travel is required, all lab work is done via multiple online (no Rx needed from MD) pre-paid labs, we arrive to facility with PDF docs in hand, discuss diagnostics, plan ahead and book travel in case surgical or expensive additional diagnostics needed. Very simple and very cost effective.

No such 31% cost is incurred. Multiple people below poverty, at poverty, above poverty incomes or no incomes. Works for all of us.

[MichaelB]

Quote:

Originally Posted by xdafly No such 31% cost is incurred. Multiple people below poverty, at poverty, above poverty incomes or no incomes. Works for all of us.

I'm glad it works for you.

[xdafly]

Quote:

Originally Posted by MrLoco And when it is my body....I want the absolute best. ... need complicated surgery..

So, you are familiar with Oklahoma Surgical Center?

All prices posted at the door, all inclusive. No surprise drive-by doctor billings. All cash. No insurance needed.

[simple girl]

Quote:

Originally Posted by xdafly Why is it all about healthcare? Our entire family (all born in US) take medical trips overseas. For example, recently, business class round trip to Narita/Tokyo for MRI. Total cash price including an overnight stay, including ticket, including labs/MRI results, under $1000. No insurance needed and everything was handled in english at high tech facilities. Have done the same for dental work in Colombia, Costa Rica, other family members used a surgery center in India with US trained surgeons and ultra-high tech hospital with private rooms and 5 star food service. Typical cost is less than 10% of US prices. There is also surgerycenterok.com where bypass cost inclusive of ALL possible complications is 10,700 cash. No insurance wanted or needed. Again, why is it all about healthcare?

What is your plan if you get cancer that requires extensive treatment including surgery, chemo, and radiation?

Or what if you have a heart attack in the US and need to be rushed to the nearest hospital, and need emergency intervention?

[razztazz]

Quote:

Originally Posted by simple girl What is your plan if you get cancer that requires extensive treatment including surgery, chemo, and radiation? Or what if you have a heart attack in the US and need to be rushed to the nearest hospital, and need emergency intervention?

That's called "freedom"

[brewer12345]

Quote:

Originally Posted by MrLoco Not for nothing and no offense but I do not see the appeal in my retirement years of having to travel to other side of the globe to have an MRI or travel to a third world country for surgery. Especially multiple times over the course of a 30 year retirement. YEs. I get it. You save a ton of money. But I have been to medical facilities in a 3rd world country (Philippines) and full payment is expected up front. Also the patient is expected to provided linens for the bed, food not included, etc. This is provided by family members. And even though some physicians may have been trained in the US....no way the technology is up to par with most US Hospitals. Not cutting edge. And when it is my body....I want the absolute best. Which is why when the very rich from 3rd world countries ( the few that there are) need complicated surgery....they travel to the US or Europe/ Australia/Japan. And if the surgery is botched what do you do? Try suing a physician / hospital in a 3rd world country.

I would not sell overseas facilities short too quickly. 6 or 7 years ago Dad had a bad concussion when vacationing in Mexico. He ended up at a hospital in Cancun that was maybe 5 years old, built to the latest and greatest specs, had all the latest equipment, and all of the doctors spoke English. He was in intensive care for a while and then in a regular ward for a week or so. Mom stayed on site at what amounted to a very nice/high end hotel meant for family members. When they finally cleared him to travel home, his doctor stateside was mightily impressed with the care Dad had received. This place was clearly set up for medical tourism, but I imagine that it is far from unique.

All that said, it is hard to live in the US without at least catastrophic medical insurance. Stupid way to run a country, but there it is.