Just About There
Iíve been planning for this over the years and never knew about this group. I just discovered this great community a few weeks ago and what a thrill to see so many like-minded people. This makes me feel confident that I will have plenty of candid and thoughtful exchanges going forward.
Iíve been working on FI for 20 years and was lucky enough to find a spouse who lives the life naturally. We live very comfortably in a frugal lifestyle, while earning a nice living in the Megacorp world. Wife retired in 2007 & I have finalized on January 2014.
Iím 50 & DW is 53. Kids are out of school & on their own. The high-level, assets are:
$525K - 401K
$600K - IRA (includes DWís rollover 401K)
$1.9M - taxable (securities/fixed income/cash)
$450K - primary home (mortgage free)
Itís all DIY managed, in need of some allocation work and consolidation.
Our yearly expenses are $50K, which include current insurance & a few luxuries. At the moment, my biggest chore is determining the best option for the health care once I retire. Iím too early for the retiree plan from MegaCorp, so Iím looking at the open market and trying to get a handle on the ACA market. Thoughts on that topic would be appreciated.
There are some real good discussions going on about the ACA. I'm sure one of the experts will weigh in. There is a whole thread for it.
The few monthly premiums I've seen for people in their mid fifties seem to be reasonable (when compared to private insurance prior to the ACA). I think in general the ACA will be great for those of us that have the investments and financial wherewithal to retire years before Medicare.
With your low expenses, I think you will be more than ok. Good job on the accumulation you guys must have lived well below your means!
Yes, congratulations on the accumulation.
If you are going to look at getting the subsidy by controlling taxable income, I suggest you give things another month to hopefully settle down. People have accessed the various exchanges but most are still having lots of problems. Anything you purchase won't go into effect until Jan 1, 2014 anyway. Also, you have the option of Cobra for 18 months after you terminate with megacorp. In my situation the Cobra is better coverage for the money than what is on ehealthinsurance.com. I made a few attempts at the federal exchange and it's just too screwed up.
You are in good shape....given your low annual expense.
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