If you retired early

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What's your age, OP? Early retirement mean different things to different people.

48 Me. 50 DH.

What do you do for health insurance?

Well, we currently both work. But if we could retire early, our option would be to buy insurance on the open market until Medicare kicks in.

Do you have the budget as a retiree? It will be $2k a month just for a mid insurance policy.

[Anonymous]

For those of you that work PT- what do you do?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What's your age, OP? Early retirement mean different things to different people.

48 Me. 50 DH.

What do you do for health insurance?

Well, we currently both work. But if we could retire early, our option would be to buy insurance on the open market until Medicare kicks in.

Do you have the budget as a retiree? It will be $2k a month just for a mid insurance policy.

Budgeting for it.

[Anonymous]

I retired 11-12 years ago as a Biglaw equity partner when I was in my early 50s. (As an aside, I'm not quite Medicare eligible at this point, so I still participate in my firm's group plan which isn't cheap. But my spouse just hit 65 so that helps.)

I don't have a minute's regret even as I read that the average PPP at my old firm have double since I left. I also don't feel the need to fill up every waking moment of my time with activity. There's no law that says you have to be busy all the time.

We travel. I've spent maybe 3-4 months this year out of the country. It's more than I have in the past, but COVID put a damper on things and we're not getting any younger so taking advantage.

We help out a lot, and I mean a lot, with the grandkids who are all local. And when we're not helping we're just hanging. We'll go to their games; text them and say let's have dinner, etc. We also take in our grand dogs when their families travel. We have two homes, one in the country with several acres and a pool so we putz around with that.

I walk every day. I'm more than 30 pounds lighter than I was when I was working.

And, finally, we manage our portfolio. I've learned a lot about financial planning, budgeting, optimizing tax benefits, etc. Stuff I really didn't know about or focus on when I was working because I was too busy. The funny thing is, with the frothy stock market over the last decade we actually make more now (unrealized, of course) on average than when I was working.

I can't even imagine still working. I would have lost my mind. Zero regrets. Absolutely none.

[Anonymous]

Anonymous wrote:

Anonymous wrote:everyone I know who retired early died early as well.

Not my experience at all.

me, neither. I know a few people who retired early. I know two couples who moved to Portugal; one bought an orchard and spent their days gardening, swimming in their pool, having friends visit etc. Sounds glorious.

I'm planning on retiring at 56. We are going to travel, and when not doing that, spend our days fixing up the house to sell soon.

[Anonymous]

Anonymous wrote:I retired 11-12 years ago as a Biglaw equity partner when I was in my early 50s. (As an aside, I'm not quite Medicare eligible at this point, so I still participate in my firm's group plan which isn't cheap. But my spouse just hit 65 so that helps.)

I don't have a minute's regret even as I read that the average PPP at my old firm have double since I left. I also don't feel the need to fill up every waking moment of my time with activity. There's no law that says you have to be busy all the time.

We travel. I've spent maybe 3-4 months this year out of the country. It's more than I have in the past, but COVID put a damper on things and we're not getting any younger so taking advantage.

We help out a lot, and I mean a lot, with the grandkids who are all local. And when we're not helping we're just hanging. We'll go to their games; text them and say let's have dinner, etc. We also take in our grand dogs when their families travel. We have two homes, one in the country with several acres and a pool so we putz around with that.

I walk every day. I'm more than 30 pounds lighter than I was when I was working.

And, finally, we manage our portfolio. I've learned a lot about financial planning, budgeting, optimizing tax benefits, etc. Stuff I really didn't know about or focus on when I was working because I was too busy. The funny thing is, with the frothy stock market over the last decade we actually make more now (unrealized, of course) on average than when I was working.

I can't even imagine still working. I would have lost my mind. Zero regrets. Absolutely none.

Being able to participate in your old firm’s insurance plan for so many years is rare. Most people have COBRA which give them 18 months (3 years for specific things)

[Anonymous]

Anonymous wrote:

Anonymous wrote:I retired 11-12 years ago as a Biglaw equity partner when I was in my early 50s. (As an aside, I'm not quite Medicare eligible at this point, so I still participate in my firm's group plan which isn't cheap. But my spouse just hit 65 so that helps.)

I don't have a minute's regret even as I read that the average PPP at my old firm have double since I left. I also don't feel the need to fill up every waking moment of my time with activity. There's no law that says you have to be busy all the time.

We travel. I've spent maybe 3-4 months this year out of the country. It's more than I have in the past, but COVID put a damper on things and we're not getting any younger so taking advantage.

We help out a lot, and I mean a lot, with the grandkids who are all local. And when we're not helping we're just hanging. We'll go to their games; text them and say let's have dinner, etc. We also take in our grand dogs when their families travel. We have two homes, one in the country with several acres and a pool so we putz around with that.

I walk every day. I'm more than 30 pounds lighter than I was when I was working.

And, finally, we manage our portfolio. I've learned a lot about financial planning, budgeting, optimizing tax benefits, etc. Stuff I really didn't know about or focus on when I was working because I was too busy. The funny thing is, with the frothy stock market over the last decade we actually make more now (unrealized, of course) on average than when I was working.

I can't even imagine still working. I would have lost my mind. Zero regrets. Absolutely none.

Being able to participate in your old firm’s insurance plan for so many years is rare. Most people have COBRA which give them 18 months (3 years for specific things)

Yea they were good about that and I appreciate it. But it was an amicable separation and I had literally spent half my life there . . .

My monthly premiums for everything relating to Medicare is going to be about half what I am paying for the firm’s insurance and honestly I expected it to be even less. Although the deductible is much lower too.