Elders we know have these things happen to them as well—impulsively buying “hot tips” if they can, buying nutritional supplements and coins, not being able to keep track of their various accounts, etc. It’s sad and upsetting but hard to intervene.
I did search for and was able to read the article without paywall. It won’t apply to our elders as at this point, neither of them has much handle on their finances—it’s being handled by my brothers. For us, I do most of it but I expect H can take over fairly easily if anything happens to me.
Seems like there could be some sort of legal action taken against a company that would sell maternity insurance for a 70 year old. At the very least, public shaming.
Remember legal folks brought us the concept of the fertile octogenarian. LOL
We are still planning on retiring in about 3 1/2-4 years, when we turn 60. However, it could definitely be sooner. If the powers that be implement some sort of significant tax increase that hits our income level substantially, we’re out. I really like my job, but not enough to do it for far less income. It’s a balance between sleep and money. I can give up a lot of my sleep if the price is right, otherwise, I’m staying home and sleeping in!
I retired from my full time job at age 60. But I have done some long term fill ins…nine of them…since I retired. I’m close to being done with that too.
DH won’t retire for at least a couple of years. His goal is to work until he is 70, but I will be totally shocked if he does that.
He will likely bow out sometime after June 2020.
I suspect that is one reason why they were more than happy to refund the money.
I think FIRE means different things to different people, and different people are comfortable retiring with different levels of assurance that they have “enough.”
I’m with @busdriver11 - if we retired now, in our mid/late 50s, we would likely be fine. But, I like being able to not worry much about money. I grew up poor, and I want an extra cushion. If the government starts to change the rules for federal retirees, I would likely retire ASAP. My husband may never retire. As I describe it, “he lives to work, and I work to live.”
It’s definitely nice to have a choice every day.
H had to fly away again for his job. He is getting tired of it, but we are on the retirement count down. He can whine a little, but he didn’t listen to me years ago with a job move. Had he taken the other job (and I would have continued with better employment) we would have been long retired. So I have to keep reminding him that he gave away the chance for early retirement.
I am planning to retire when I turn 65. But a problem is that my wife, who is younger than me by one year, will not be Medicare-eligible at that time. We are considering COBRA to tide over this year but an issue is that we really do not want to stay in this high living cost area after I retire.
I have actually told my manager about my tentative plan in the past. When he heard about our Medicare “problem”, he said this to me: “Why don’t you work till your wife is also eligible for Medicare?!”
The decision time for us will be half a year away. But the time flies. So that decision moment will be here before we know it.
Another factor to consider is that our health is really not that great and our “very active” years could be no more than 10 years from now. We may also have some family responsibilities to fulfill on the horizon.
It bugs me that we all have to be so hung up on health insurance. We have taken the plunge and retired at mid-fifties. We fully expect to pay $20,000 +++ per year over the next ten years. We are prepared to do that. We have budgeted for it. Just hope that there is something for us to buy. I feel like there will soon be a bunch of 60 year olds standing on street corners holding up signs that read, “Will work for health insurance.” From a policy perspective, how many people continue to work solely for health insurance, and how many jobs does that take away from young folks?? Is that too political to write???
I don’t think getting insurance via COBRA means you can’t move, you will just be out of network for any claims.
Or you can get an ACA plan wherever you move.
@notrichenough - whether COBRA is an option after relocation for @mcat2 depends on the scope of the company he works for and if they operate in a state where he wants to move to.
It is sad that I have read of many people who are unable to act upon their retirement plans due to their need to keep health insurance coverage. I am fortunate that my husband’s policy covered our family and that he was able to enjoy his job until he retired with his coverage at age 70. I had chronic medical conditions, as do my children, so we really appreciated good health coverage.
It really is unfortunate that people can’t just pay in to some system and have good health coverage for their lives, that will allow them to live anywhere in the US.
@hoggirl I’m certainly no expert, but my understanding is that as long as your insurance allows you to go to providers outside of the network, the COBRA plan should work anywhere.
I could be wrong.
Not only does the healthcare quandary keep many from retiring thus freeing up job opportunities for younger workers, it also keeps many people from going the entrepreneurial route which could create jobs and economic growth.
@notrichenough - I’m not disagreeing with that at all. But, if a company operates in multiple states, one can continue to get COBRA with a new carrier in a different state and be IN network. That’s what we were able to do. Seems cleaner than battling out of network claims if that’s an option. Alas, it shall end for us in 5 mos, and we’ll be on our own. And, no doubt, getting coverage out of network is going to be significantly more difficult on an individual plan. I do worry about how it might impact our decision to travel.
But, you make a good point that could be applicable to @mcat2 if he wants to exit his job now.
Thanks for your input.
Although my company operates in two states, it does not operate in the state where we plan to move to.
Yes, that’s true. Our son would be happy to quit his job and spend more time and energy in his side-gig which he enjoys and earns a lot of money at but has NO benefits, and especially no medical coverage. I’m sure many people are staying with jobs for health coverage. My relative is doing so as well–she has the years and retirement pension to retire from her job but staying for the benefits.
We are happy to rescind our US citizenship for guaranteed healthcare elsewhere. It’s a big planet, and others have solved this problem.