I enjoyed the retirement thread back a day or so ago.

[BurnsideDawg]

I don't have the exact number that I would like, but damn if I am not going to pull the trigger in 4.5 yrs and exit the workforce at 62. I am not taking my SS until 65-67, so I will have to live off savings until then. My plan is to budget for a good lifestyle and have my investments continue to grow if they can consistently get greater than a 6% return. They have been doing GREAT lately, but I am not counting on that long term. Then when SS kicks in, that will be fun money. I've been working in some capacity since I was 10 yo, and it is time for that shit to end. You can certainly drive yourself crazy looking at all those YouTube videos by various financial planners (or so called anyway). 

I have a good guy at work that manages our 401Ks, as well as a Fire Fighter buddy of mine that manages some of my other investments. Good financial planner(s) are good to have as well.

[Dymwit]

I don't have the exact number that I would like, but damn if I am not going to pull the trigger in 4.5 yrs and exit the workforce at 62. I am not taking my SS until 65-67, so I will have to live off savings until then. My plan is to budget for a good lifestyle and have my investments continue to grow if they can consistently get greater than a 6% return. They have been doing GREAT lately, but I am not counting on that long term. Then when SS kicks in, that will be fun money. I've been working in some capacity since I was 10 yo, and it is time for that shit to end. You can certainly drive yourself crazy looking at all those YouTube videos by various financial planners (or so called anyway). 

I have a good guy at work that manages our 401Ks, as well as a Fire Fighter buddy of mine that manages some of my other investments. Good financial planner(s) are good to have as well.

Assuming nothing changes, I plan on basically retiring around 60-63. I’ll still work 15 hours a week and make $50k-$60k (God willing). I don’t have a lot of hobbies, and I enjoy what I do.

[GriffWoody]

I’m in the retirement industry. I’m shooting for 10 more years, 15 max. I may like a few years after my boys get off the payroll, which will be 59’ish. I turn 50 in 3 months, just got a new job, and if things work out it will happen at 60. I would like to continue working at something I like, in a fly fishing shop or something similar. Like you Burns, I’ve been doing something to earn money since I was 12 when i had a paper route that I delivered on my bicycle.

[Milldawg]

I don't have the exact number that I would like, but damn if I am not going to pull the trigger in 4.5 yrs and exit the workforce at 62. I am not taking my SS until 65-67, so I will have to live off savings until then. My plan is to budget for a good lifestyle and have my investments continue to grow if they can consistently get greater than a 6% return. They have been doing GREAT lately, but I am not counting on that long term. Then when SS kicks in, that will be fun money. I've been working in some capacity since I was 10 yo, and it is time for that shit to end. You can certainly drive yourself crazy looking at all those YouTube videos by various financial planners (or so called anyway). 

I have a good guy at work that manages our 401Ks, as well as a Fire Fighter buddy of mine that manages some of my other investments. Good financial planner(s) are good to have as well.

I am thinking 65 for me, but could be earlier...biggest sticking point for me is medical coverage.....that doesn't kick in until 65. Maybe I can find something that provides medical if I want to retire before 65. I am on track for my goal, might even come in earlier if Trump gets in office.

---

I don't have the exact number that I would like, but damn if I am not going to pull the trigger in 4.5 yrs and exit the workforce at 62. I am not taking my SS until 65-67, so I will have to live off savings until then. My plan is to budget for a good lifestyle and have my investments continue to grow if they can consistently get greater than a 6% return. They have been doing GREAT lately, but I am not counting on that long term. Then when SS kicks in, that will be fun money. I've been working in some capacity since I was 10 yo, and it is time for that shit to end. You can certainly drive yourself crazy looking at all those YouTube videos by various financial planners (or so called anyway). 

I have a good guy at work that manages our 401Ks, as well as a Fire Fighter buddy of mine that manages some of my other investments. Good financial planner(s) are good to have as well.

Assuming nothing changes, I plan on basically retiring around 60-63. I’ll still work 15 hours a week and make $50k-$60k (God willing). I don’t have a lot of hobbies, and I enjoy what I do.

I need to think of some hobbies....maybe go ahead and start them now

[GriffWoody]

I don't have the exact number that I would like, but damn if I am not going to pull the trigger in 4.5 yrs and exit the workforce at 62. I am not taking my SS until 65-67, so I will have to live off savings until then. My plan is to budget for a good lifestyle and have my investments continue to grow if they can consistently get greater than a 6% return. They have been doing GREAT lately, but I am not counting on that long term. Then when SS kicks in, that will be fun money. I've been working in some capacity since I was 10 yo, and it is time for that shit to end. You can certainly drive yourself crazy looking at all those YouTube videos by various financial planners (or so called anyway). 

I have a good guy at work that manages our 401Ks, as well as a Fire Fighter buddy of mine that manages some of my other investments. Good financial planner(s) are good to have as well.

I am thinking 65 for me, but could be earlier...biggest sticking point for me is medical coverage.....that doesn't kick in until 65. Maybe I can find something that provides medical if I want to retire before 65. I am on track for my goal, might even come in earlier if Trump gets in office.

---

I don't have the exact number that I would like, but damn if I am not going to pull the trigger in 4.5 yrs and exit the workforce at 62. I am not taking my SS until 65-67, so I will have to live off savings until then. My plan is to budget for a good lifestyle and have my investments continue to grow if they can consistently get greater than a 6% return. They have been doing GREAT lately, but I am not counting on that long term. Then when SS kicks in, that will be fun money. I've been working in some capacity since I was 10 yo, and it is time for that shit to end. You can certainly drive yourself crazy looking at all those YouTube videos by various financial planners (or so called anyway). 

I have a good guy at work that manages our 401Ks, as well as a Fire Fighter buddy of mine that manages some of my other investments. Good financial planner(s) are good to have as well.

Assuming nothing changes, I plan on basically retiring around 60-63. I’ll still work 15 hours a week and make $50k-$60k (God willing). I don’t have a lot of hobbies, and I enjoy what I do.

I need to think of some hobbies....maybe go ahead and start them now

If you’ve never done it, I highly encourage you to try fly fishing.

[Milldawg]

I don't have the exact number that I would like, but damn if I am not going to pull the trigger in 4.5 yrs and exit the workforce at 62. I am not taking my SS until 65-67, so I will have to live off savings until then. My plan is to budget for a good lifestyle and have my investments continue to grow if they can consistently get greater than a 6% return. They have been doing GREAT lately, but I am not counting on that long term. Then when SS kicks in, that will be fun money. I've been working in some capacity since I was 10 yo, and it is time for that shit to end. You can certainly drive yourself crazy looking at all those YouTube videos by various financial planners (or so called anyway). 

I have a good guy at work that manages our 401Ks, as well as a Fire Fighter buddy of mine that manages some of my other investments. Good financial planner(s) are good to have as well.

I am thinking 65 for me, but could be earlier...biggest sticking point for me is medical coverage.....that doesn't kick in until 65. Maybe I can find something that provides medical if I want to retire before 65. I am on track for my goal, might even come in earlier if Trump gets in office.

---

I don't have the exact number that I would like, but damn if I am not going to pull the trigger in 4.5 yrs and exit the workforce at 62. I am not taking my SS until 65-67, so I will have to live off savings until then. My plan is to budget for a good lifestyle and have my investments continue to grow if they can consistently get greater than a 6% return. They have been doing GREAT lately, but I am not counting on that long term. Then when SS kicks in, that will be fun money. I've been working in some capacity since I was 10 yo, and it is time for that shit to end. You can certainly drive yourself crazy looking at all those YouTube videos by various financial planners (or so called anyway). 

I have a good guy at work that manages our 401Ks, as well as a Fire Fighter buddy of mine that manages some of my other investments. Good financial planner(s) are good to have as well.

Assuming nothing changes, I plan on basically retiring around 60-63. I’ll still work 15 hours a week and make $50k-$60k (God willing). I don’t have a lot of hobbies, and I enjoy what I do.

I need to think of some hobbies....maybe go ahead and start them now

If you’ve never done it, I highly encourage you to try fly fishing.

I have done it and it is fun....its an option. I have a rod, waders, boots..etc

[DawgNatty]

Burnside, it’s an interesting conundrum. I’m in much the same boat as you. Been working a long time and really ready to tell corporate America to “take this job and shove it”.

I think the $30k + medical insurance per year is the issue for me. Need to find something minor to do that provides insurance. But, let’s be honest…those types of place only cut the payment in half.

There’s so many variables it’s hard to figure it all out. I know I need 3-4 more years…but, it’s gonna suck.

I could go now and downsize the house, simplify and cut out the frills a little. That just doesn’t sound appealing either.

[RockmartDawg]

Burnside, it’s an interesting conundrum.    I’m in much the same boat as you.  Been working a long time and really ready to tell corporate America to “take this job and shove it”. 

I think the $30k + medical insurance per year is the issue for me.  Need to find something minor to do that provides insurance.  But, let’s be honest…those types of place only cut the payment in half. 

There’s so many variables it’s hard to figure it all out.  I know I need 3-4 more years…but, it’s gonna suck. 

I could go now and downsize the house, simplify and cut out the frills a little.    That just doesn’t sound appealing either.

At 65 you will go onto Medicare. I am in the process of enrolling my wife right now. We're going to traditional route... Medicare Part A (no cost) and part B ($174 per month, back to Medicare), and adding Part G (supplemental policy to provide 100% coverage... right now looks to be ~$116 per month). Part D (prescriptions) I can get for less than $1 per month, with about a $400-$500 annual deductible.

All of that is galaxies better than the employer plan I just told them to keep during this past renewal period.

So, do keep in mind that you can get great coverage at a decent price at 65.

[Milldawg]

Burnside, it’s an interesting conundrum.    I’m in much the same boat as you.  Been working a long time and really ready to tell corporate America to “take this job and shove it”. 

I think the $30k + medical insurance per year is the issue for me.  Need to find something minor to do that provides insurance.  But, let’s be honest…those types of place only cut the payment in half. 

There’s so many variables it’s hard to figure it all out.  I know I need 3-4 more years…but, it’s gonna suck. 

I could go now and downsize the house, simplify and cut out the frills a little.    That just doesn’t sound appealing either.

At 65 you will go onto Medicare. I am in the process of enrolling my wife right now. We're going to traditional route... Medicare Part A (no cost) and part B ($174 per month, back to Medicare), and adding Part G (supplemental policy to provide 100% coverage... right now looks to be ~$116 per month). Part D (prescriptions) I can get for less than $1 per month, with about a $400-$500 annual deductible.

All of that is galaxies better than the employer plan I just told them to keep during this past renewal period.

So, do keep in mind that you can get great coverage at a decent price at 65.

thanks for the info, that's the kind of stuff I am looking for. I have 10 years though.....55

[gulfportdawg]

I don't have the exact number that I would like, but damn if I am not going to pull the trigger in 4.5 yrs and exit the workforce at 62. I am not taking my SS until 65-67, so I will have to live off savings until then. My plan is to budget for a good lifestyle and have my investments continue to grow if they can consistently get greater than a 6% return. They have been doing GREAT lately, but I am not counting on that long term. Then when SS kicks in, that will be fun money. I've been working in some capacity since I was 10 yo, and it is time for that shit to end. You can certainly drive yourself crazy looking at all those YouTube videos by various financial planners (or so called anyway). 

I have a good guy at work that manages our 401Ks, as well as a Fire Fighter buddy of mine that manages some of my other investments. Good financial planner(s) are good to have as well.

I retired at the end of Jan. 2022. I was 65 and 9 months of age. Navy retirement every month, civil service retirement every month, and SSI every month. I have not touched my 401k yet. I moved it to a less aggressive investment but have been earning 4-5% so far. I also have an Oppenhiemer account that I started when I was 30 and it has done well. I have not touched that either but will be tapping into that come Jan. I probably should've retired a year or two earlier but just didn't think I was ready. I adjusted well and have never looked back. I hope you get everything out of retirement that you want! Good luck!

---

Burnside, it’s an interesting conundrum.    I’m in much the same boat as you.  Been working a long time and really ready to tell corporate America to “take this job and shove it”. 

I think the $30k + medical insurance per year is the issue for me.  Need to find something minor to do that provides insurance.  But, let’s be honest…those types of place only cut the payment in half. 

There’s so many variables it’s hard to figure it all out.  I know I need 3-4 more years…but, it’s gonna suck. 

I could go now and downsize the house, simplify and cut out the frills a little.    That just doesn’t sound appealing either.

At 65 you will go onto Medicare. I am in the process of enrolling my wife right now. We're going to traditional route... Medicare Part A (no cost) and part B ($174 per month, back to Medicare), and adding Part G (supplemental policy to provide 100% coverage... right now looks to be ~$116 per month). Part D (prescriptions) I can get for less than $1 per month, with about a $400-$500 annual deductible.

All of that is galaxies better than the employer plan I just told them to keep during this past renewal period.

So, do keep in mind that you can get great coverage at a decent price at 65.

Serving 20 years in the military has paid off in several ways. I have Medicare and Tricare for Life (no monthly charge). Lucky me!

[RockmartDawg]

I don't have the exact number that I would like, but damn if I am not going to pull the trigger in 4.5 yrs and exit the workforce at 62. I am not taking my SS until 65-67, so I will have to live off savings until then. My plan is to budget for a good lifestyle and have my investments continue to grow if they can consistently get greater than a 6% return. They have been doing GREAT lately, but I am not counting on that long term. Then when SS kicks in, that will be fun money. I've been working in some capacity since I was 10 yo, and it is time for that shit to end. You can certainly drive yourself crazy looking at all those YouTube videos by various financial planners (or so called anyway). 

I have a good guy at work that manages our 401Ks, as well as a Fire Fighter buddy of mine that manages some of my other investments. Good financial planner(s) are good to have as well.

I retired at the end of Jan. 2022. I was 65 and 9 months of age. Navy retirement every month, civil service retirement every month, and SSI every month. I have not touched my 401k yet. I moved it to a less aggressive investment but have been earning 4-5% so far. I also have an Oppenhiemer account that I started when I was 30 and it has done well. I have not touched that either but will be tapping into that come Jan. I probably should've retired a year or two earlier but just didn't think I was ready. I adjusted well and have never looked back. I hope you get everything out of retirement that you want! Good luck!

---

Burnside, it’s an interesting conundrum.    I’m in much the same boat as you.  Been working a long time and really ready to tell corporate America to “take this job and shove it”. 

I think the $30k + medical insurance per year is the issue for me.  Need to find something minor to do that provides insurance.  But, let’s be honest…those types of place only cut the payment in half. 

There’s so many variables it’s hard to figure it all out.  I know I need 3-4 more years…but, it’s gonna suck. 

I could go now and downsize the house, simplify and cut out the frills a little.    That just doesn’t sound appealing either.

At 65 you will go onto Medicare. I am in the process of enrolling my wife right now. We're going to traditional route... Medicare Part A (no cost) and part B ($174 per month, back to Medicare), and adding Part G (supplemental policy to provide 100% coverage... right now looks to be ~$116 per month). Part D (prescriptions) I can get for less than $1 per month, with about a $400-$500 annual deductible.

All of that is galaxies better than the employer plan I just told them to keep during this past renewal period.

So, do keep in mind that you can get great coverage at a decent price at 65.

Serving 20 years in the military has paid off in several ways. I have Medicare and Tricare for Life (no monthly charge). Lucky me!

That's great, Gulfport. If someone serves 20 years in the military they doggone well should get Tricare for life. That ain't luck, bud. You fully earned it.

I did a 4+2 enlistment.... 4 active duty and 2 inactive reserve. I'm not eligible for Tricare but I can apply for VA healthcare. I found out by doing just that, they now only approve VA healthcare based on your level of income. I didn't qualify because of my income level. But if/when it should ever change to a point that I could qualify, they gave me steps by which to reapply. I'll be 65 in 2 more years and I'll then be signing up for Medicare.

[DawgNatty]

Burnside, it’s an interesting conundrum.    I’m in much the same boat as you.  Been working a long time and really ready to tell corporate America to “take this job and shove it”. 

I think the $30k + medical insurance per year is the issue for me.  Need to find something minor to do that provides insurance.  But, let’s be honest…those types of place only cut the payment in half. 

There’s so many variables it’s hard to figure it all out.  I know I need 3-4 more years…but, it’s gonna suck. 

I could go now and downsize the house, simplify and cut out the frills a little.    That just doesn’t sound appealing either.

At 65 you will go onto Medicare. I am in the process of enrolling my wife right now. We're going to traditional route... Medicare Part A (no cost) and part B ($174 per month, back to Medicare), and adding Part G (supplemental policy to provide 100% coverage... right now looks to be ~$116 per month). Part D (prescriptions) I can get for less than $1 per month, with about a $400-$500 annual deductible.

All of that is galaxies better than the employer plan I just told them to keep during this past renewal period.

So, do keep in mind that you can get great coverage at a decent price at 65.

Good info Rockmart!!!!   I hadn’t seen it spelled out like that.  I knew 65 is the magic number, my issue is getting to that point.   (Not an issue, just planning for it).   I’ve got 8.5 years…probably means corporate for the next 3-5.   Then, some sort of Home Depot or delivery route for 3-4 years.   If I went now, probably looking at 25-30k per year of just the insurance equation.   Not really that big a deal.   But, the boss is conservative.  ?

[RockmartDawg]

Burnside, it’s an interesting conundrum.    I’m in much the same boat as you.  Been working a long time and really ready to tell corporate America to “take this job and shove it”. 

I think the $30k + medical insurance per year is the issue for me.  Need to find something minor to do that provides insurance.  But, let’s be honest…those types of place only cut the payment in half. 

There’s so many variables it’s hard to figure it all out.  I know I need 3-4 more years…but, it’s gonna suck. 

I could go now and downsize the house, simplify and cut out the frills a little.    That just doesn’t sound appealing either.

At 65 you will go onto Medicare. I am in the process of enrolling my wife right now. We're going to traditional route... Medicare Part A (no cost) and part B ($174 per month, back to Medicare), and adding Part G (supplemental policy to provide 100% coverage... right now looks to be ~$116 per month). Part D (prescriptions) I can get for less than $1 per month, with about a $400-$500 annual deductible.

All of that is galaxies better than the employer plan I just told them to keep during this past renewal period.

So, do keep in mind that you can get great coverage at a decent price at 65.

Good info Rockmart!!!!   I hadn’t seen it spelled out like that.  I knew 65 is the magic number, my issue is getting to that point.   (Not an issue, just planning for it).   I’ve got 8.5 years…probably means corporate for the next 3-5.   Then, some sort of Home Depot or delivery route for 3-4 years.   If I went now, probably looking at 25-30k per year of just the insurance equation.   Not really that big a deal.   But, the boss is conservative.  ?

My pleasure, Dawgnatty. It just so happens that all of this is extremely fresh on our minds, and is definitely a front-burner topic, as we are getting my wife signed up, as we speak. So, it is easy for me to speak to this topic.

The Part B $174 per month changes with each year, and is determined by Medicare. It has been increasing each year, even if by smaller amounts. Part B pays 80% of your costs toward things like doctor visits, and I want to say there is a very small annual deductible... something like $400.. I forget the exact figure. This is why you want the supplemental policy... as that will close out those costs. I know that the cost of the supplemental policy will increase over time. My parents are in their 80s and they are paying around $350 each for that same type of supplemental policy. They use it way more, with the expected events that come with increasing age.

A Medicare Advantage Plan is an alternative option. View that as basically all of your Medicare coverage being contracted out to an insurance carrier. It fully replaces all that I described, previously. View it as Medicare-traditional versus Medicare Advantage Plan. Those are the two big choices for overall coverage. I am aware (by what I have heard from others) that you can find slightly lower cost options by going this route. But you also find yourself within the limitations of being insured fully through an insurance carrier and their policies, requirements, etc. I/we have chosen to go the traditional route due to the widespread availability of coverage and ease of use.

[bNe]

Have heard horror stories about the advantage plans...they are good till they ain't. Then they are real bad. They can be very choosey about what they do and don't cover. Would do my homework 4sure before going with one of those

[RockmartDawg]

Have heard horror stories about the advantage plans...they are good till they ain't. Then they are real bad. They can be very choosey about what they do and don't cover. Would do my homework 4sure before going with one of those

Thanks, bNe. I have heard the same. I don't like the idea of putting my and my wife's Medicare in the hands of the likes of United Healthcare. They are the literal scum of the earth. You said it perfectly. They are good till they ain't. Thing is... also so I understand... the cost between an Advantage plan and traditional coverage isn't very different.