Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 09-03-2020, 10:11 AM   #21
Recycles dryer sheets
workmyfingerstothebone's Avatar
 
Join Date: Oct 2013
Posts: 86
I think most of America, 95% (and the world for that matter), cannot handle a major medical bill in the hundreds of thousands of dollars.



For example, a nursing home for 2 years @ 60K/year.
workmyfingerstothebone is offline   Reply With Quote
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 09-03-2020, 11:01 AM   #22
Thinks s/he gets paid by the post
Out-to-Lunch's Avatar
 
Join Date: Jan 2020
Location: Milwaukee
Posts: 1,140
This is great to hear. Congrats.
Out-to-Lunch is online now   Reply With Quote
Old 09-03-2020, 11:15 AM   #23
Recycles dryer sheets
 
Join Date: Aug 2020
Location: Houston
Posts: 90
Congratulations on your success!
We are in our first year of retirement. So far the only surprise is the staying put due to Covid. There are a couple of items which are not routine everyday living costs but we had anticipated and budgeted for, such as a new car and helping out DS with housing costs while he completes his dental school works. All is well.
Green Papaya is offline   Reply With Quote
Old 09-03-2020, 12:39 PM   #24
Recycles dryer sheets
mistermike40's Avatar
 
Join Date: Aug 2014
Posts: 233
Congratulations!
__________________
It's a terrible thing, I think, in life to wait until you're ready. I have this feeling now that actually no one is ever ready to do anything. There is almost no such thing as ready. There is only now. And you may as well do it now. Generally speaking, now is as good a time as any. - Hugh Laurie
mistermike40 is offline   Reply With Quote
Old 09-03-2020, 01:12 PM   #25
Thinks s/he gets paid by the post
walkinwood's Avatar
 
Join Date: Jul 2006
Location: Denver
Posts: 3,209
Congratulations!

I keep track of trailing 12 month spending since spending tends to be lumpy. Using credit cards extensively (paid each month) and quicken makes that tracking relatively simple.

That 12% under budget amount could go into a special fund to save for a rainy day (eg nursing home). With luck, you won't need it at all.
walkinwood is offline   Reply With Quote
Old 09-03-2020, 01:14 PM   #26
Full time employment: Posting here.
 
Join Date: Feb 2017
Posts: 538
Quote:
Originally Posted by Green Papaya View Post
Congratulations on your success!
We are in our first year of retirement. So far the only surprise is the staying put due to Covid. There are a couple of items which are not routine everyday living costs but we had anticipated and budgeted for, such as a new car and helping out DS with housing costs while he completes his dental school works. All is well.
So you are about where we were a short while ago. We loved it when we came to that last day of the first year of retirement and could finally crunch the numbers "for real" and know for sure that we made it. I hope you have that same experience - it's really neat (grin!)
CindyBlue is online now   Reply With Quote
Old 09-03-2020, 02:08 PM   #27
Full time employment: Posting here.
 
Join Date: Feb 2017
Posts: 538
Quote:
Originally Posted by walkinwood View Post
Congratulations!
That 12% under budget amount could go into a special fund to save for a rainy day (eg nursing home). With luck, you won't need it at all.
Good idea - and it's exactly what I intend to do. I've always been a saver and it's paid off, and hopefully will pay off in the future (smile!)
CindyBlue is online now   Reply With Quote
Old 09-04-2020, 09:23 AM   #28
Thinks s/he gets paid by the post
Markola's Avatar
 
Join Date: Nov 2013
Location: Twin Cities
Posts: 2,120
Assume the OPs looked into LTC insurance and decided against it? Can you share the thought process?
Markola is offline   Reply With Quote
Old 09-04-2020, 08:02 PM   #29
Full time employment: Posting here.
 
Join Date: Feb 2017
Posts: 538
Quote:
Originally Posted by Markola View Post
Assume the OPs looked into LTC insurance and decided against it? Can you share the thought process?
We didn't think of doing it soon enough (i.e., while we were young enough) for it to be cost effective.
CindyBlue is online now   Reply With Quote
Old 09-05-2020, 02:27 AM   #30
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Koolau's Avatar
 
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 5,529
We love to hear success stories! Congrats and keep us posted.
__________________
Ko'olau's Law -

Anything which can be used can be misused. Anything which can be misused will be.
Koolau is offline   Reply With Quote
Reply


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
Happiness leads to success vs Success leads to happiness Midpack Other topics 4 02-06-2012 08:59 AM
FI now and RE in two months - yay! NotReady4Purple Hi, I am... 25 11-21-2008 09:22 PM
New Milestone! Yay mrinvest Young Dreamers 16 01-07-2008 09:19 AM
Social Security - yay or nay? ARB57 FIRE and Money 23 12-31-2007 10:48 AM

» Quick Links

 
All times are GMT -6. The time now is 10:33 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.