Retiring young - cautionary info

[Anonymous]

The average health insurance is actually around 20k a year, its just that most people either have employer subsidzing the cost or get subsidies from the government. You need to start reading the ER bloggers to see how you game the system into giving you cheap insurance. Root of Good is one playing the game to fine effect, 2 million in assets and gets health insurance for pennies.

[Anonymous]

Retiring in your mid-40s, especially with dependents, seems odd on it's face, unless you are a gazillionaire.

[Anonymous]

Anonymous wrote:
Yeah, so this is why I plan to early retire to Europe where I can get nearly free healthcare.

Whereabouts? It's not easy in many countries to get permanent residency. People assume they can just flounce into any country and oh, won't they just be so glad to have you? No. Especially when you're going to leech on a system you haven't paid into.

[Anonymous]

Anonymous wrote:Retiring in your mid-40s, especially with dependents, seems odd on it's face, unless you are a gazillionaire.

Why does it seem odd? Because we should all dedicate our lives to working and making money for large corporations?

A good life = working for 40+ years is the most messed up concept.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Yeah, so this is why I plan to early retire to Europe where I can get nearly free healthcare.

Whereabouts? It's not easy in many countries to get permanent residency. People assume they can just flounce into any country and oh, won't they just be so glad to have you? No. Especially when you're going to leech on a system you haven't paid into.

Portugal is widely considered one of the best EU countries for expats to retire to... and guess what! You have to provide proof of health insurance and pay for your own health insurance for at least the first 5 years. You aren't eligible to participate in their publicly-funded health care until (and unless) you become a permanent citizen which can take more than 5 years too.

[Anonymous]

I thought we were promised a better alternative?

[Anonymous]

Devil's advocate here- why is 20k too much for health insurance? I'm sure you pay more than that in rent/mortgage.

Although I obviously think our health care system is ridiculously overpriced, inefficient and inflated. My parents were upset theirs was $1300 a month, except I'm pretty sure they use WAY more than that. My dad has had surgery yearly. They have glaucoma, diabetes, high blood pressure and a lot of pain management doctors.

[Anonymous]

Anonymous wrote:Devil's advocate here- why is 20k too much for health insurance? I'm sure you pay more than that in rent/mortgage.

Although I obviously think our health care system is ridiculously overpriced, inefficient and inflated. My parents were upset theirs was $1300 a month, except I'm pretty sure they use WAY more than that. My dad has had surgery yearly. They have glaucoma, diabetes, high blood pressure and a lot of pain management doctors.

This isn't $20k. This is almost $52k for a year of health insurance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Devil's advocate here- why is 20k too much for health insurance? I'm sure you pay more than that in rent/mortgage.

Although I obviously think our health care system is ridiculously overpriced, inefficient and inflated. My parents were upset theirs was $1300 a month, except I'm pretty sure they use WAY more than that. My dad has had surgery yearly. They have glaucoma, diabetes, high blood pressure and a lot of pain management doctors.

This isn't $20k. This is almost $52k for a year of health insurance.

For 4 people though. Most "retired" people only are supporting 2.

[Anonymous]

When are your kids leaving home?

I went on my school's reasonably-priced insurance plan when I left home. I also worked full-time (on a flex schedule). Of course, this was pre-ACA so I couldn't stay on my parents' until 26.

[Anonymous]

Eh, OP is just bragging they retired in their 40’s. Don’t want to pay so much, keep working.

[Anonymous]

Anonymous wrote:My mom retired from being an RN at 50 because of back issues. She couldn't work any longer. She's 6 years younger than my dad who just got laid off at 64. They aren't quite sure what to do for insurance for her as she's pretty disabled.

Pp, is she on disability? My brother qualified for disability - he paid for his health insurance through COBRA from his last job till it ran out and then was able to get Obamacare for the last year of his life. But if he had lived, after two years on disability he would have qualified for Medicare.

[Anonymous]

Anonymous wrote:Sounds tragic. I feel pity for those who retired in their mid 40s and have increases in fixed expenses.

I assume this is sarcasm. Why feel sorry for people that make the choice not to work?

[Anonymous]

Uh that's why people don't retire in their mid 40s with kids?? Even most of the FIRE community seems to be people who are single/married w/o kids or kids who are independent.

If you wanted to retire bc you could afford it bc DH sold a tech company for billions -- congrats -- then pay the 52k/yr for insurance and stop complaining.

[Anonymous]

You chose to retire young. Surely you must have anticipated certain costs would rise over time? Not sure what you're complaining about.