Disagreeing on when to retire with spouse

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. We have around $2.5-3m in assets, excluding any home equity in our primary residence. I feel like we can live on just my spouse's income, maybe cutting back just slightly. My spouse does not want to cut back on our lifestyle at all.

Seems fair.
what if spouses wants to retire today too?

OP here. I already answered that and said it would be fine.

Then what would you do for healthcare? I think you're too young to fully understand how things change wrt what you need medically as you get older.

Also, ACA is great, you have some options. But it is NOT cheap. in our 50s, coverage for 2, with VSP and Dental will run $2K/month, with a $6K/12K deductible and max OOP of $9K/$18K. No Out of Network Coverage, except urgent care and ER.

In comparison, we pay $270/month for FULL Family (worker/spouse/all kids) for a PPO (not EPO), $1250/$2500 deductible Ind/Family and max OOP $3500/7K. And we have Out of network OOP capped at $7K/$14K. I believe COBRA costs would be $1900/month. So about the same but for way less coverage and No OON coverage. Not an issue normally, but it is nice to know that if you have some rare medical condition, you can choose to go anywhere in USA and at max pay $7K. With ACA, you are left locally to choose (and we have excellent choices)

This is totally false—or, charitably, I can say it's extremely unlikely.

I suggest everyone considering and nearing early retirement check out their exchange to get exact prices for themselves or their family. At least for Maryland, the figures I have seen are nothing close to what the fearmongers here suggest ("Plan on $2K/month for two people!"). I am a 42-year-old man and I currently pay $2K PER YEAR on the exchange for my health insurance (I have a $10K deductible, but that works for me because I'm healthy). I plan on retiring at 45 so the cost of healthcare is a big question.

I ran lots of quotes for various scenarios: insuring me alone in 10-15 years, insuring a family of 4 in the event I get married, insuring a family member with a chronic condition that causes me to frequently hit the deductible and OOP max. In virtually no scenario could I figure out how to even arrive at a $2K/month spend—and this included plan premiums, deductibles and co-pays. Yet, to hear DCUM talk, you need to plan for $2K/month in premiums alone for two people. Utterly absurd. Potential early retirees, you must run quotes for yourself, as this field is fraught with misinformation.

I am not the PP your are quoting, but we pay 2K/month total with a 6K deductible/person. We are both health and have no chronic conditions. I think it's easy for you to play fast and lose with healthcare at this point with no kids. You really should check your disdain, and stop putting "your" situation out there as a universal truth.

Maybe you're not an astute shopper - I don't know your situation. But I never suggested anyone should take my word for it or that my situation was representative of anyone else's. I explicitly said people need to run quotes for themselves and not listen to "suggestions" or approximations from others.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. We have around $2.5-3m in assets, excluding any home equity in our primary residence. I feel like we can live on just my spouse's income, maybe cutting back just slightly. My spouse does not want to cut back on our lifestyle at all.

Seems fair.
what if spouses wants to retire today too?

OP here. I already answered that and said it would be fine.

Then what would you do for healthcare? I think you're too young to fully understand how things change wrt what you need medically as you get older.

Also, ACA is great, you have some options. But it is NOT cheap. in our 50s, coverage for 2, with VSP and Dental will run $2K/month, with a $6K/12K deductible and max OOP of $9K/$18K. No Out of Network Coverage, except urgent care and ER.

In comparison, we pay $270/month for FULL Family (worker/spouse/all kids) for a PPO (not EPO), $1250/$2500 deductible Ind/Family and max OOP $3500/7K. And we have Out of network OOP capped at $7K/$14K. I believe COBRA costs would be $1900/month. So about the same but for way less coverage and No OON coverage. Not an issue normally, but it is nice to know that if you have some rare medical condition, you can choose to go anywhere in USA and at max pay $7K. With ACA, you are left locally to choose (and we have excellent choices)

This is totally false—or, charitably, I can say it's extremely unlikely.

I suggest everyone considering and nearing early retirement check out their exchange to get exact prices for themselves or their family. At least for Maryland, the figures I have seen are nothing close to what the fearmongers here suggest ("Plan on $2K/month for two people!"). I am a 42-year-old man and I currently pay $2K PER YEAR on the exchange for my health insurance (I have a $10K deductible, but that works for me because I'm healthy). I plan on retiring at 45 so the cost of healthcare is a big question.

I ran lots of quotes for various scenarios: insuring me alone in 10-15 years, insuring a family of 4 in the event I get married, insuring a family member with a chronic condition that causes me to frequently hit the deductible and OOP max. In virtually no scenario could I figure out how to even arrive at a $2K/month spend—and this included plan premiums, deductibles and co-pays. Yet, to hear DCUM talk, you need to plan for $2K/month in premiums alone for two people. Utterly absurd. Potential early retirees, you must run quotes for yourself, as this field is fraught with misinformation.

DP but my Hi deductible plan is also $2k/month for 2 people. In MD. Plans are age adjusted so at 60+ we pay much more than a 40 year old. But agree people should do their own research.

[Anonymous]

Not in Md but I'm paying $1600 for Obamacare a month for 1 person. $7000 deductible. Age 61. No tax credit.
In my state if you earn over $46,000 you get no tax credit and pay the list price. My Obamacare plan is bronze, one of the cheaper options.

You can also check on health insurance plans from the Mennonites.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. We have around $2.5-3m in assets, excluding any home equity in our primary residence. I feel like we can live on just my spouse's income, maybe cutting back just slightly. My spouse does not want to cut back on our lifestyle at all.

Seems fair.
what if spouses wants to retire today too?

OP here. I already answered that and said it would be fine.

Then what would you do for healthcare? I think you're too young to fully understand how things change wrt what you need medically as you get older.

Also, ACA is great, you have some options. But it is NOT cheap. in our 50s, coverage for 2, with VSP and Dental will run $2K/month, with a $6K/12K deductible and max OOP of $9K/$18K. No Out of Network Coverage, except urgent care and ER.

In comparison, we pay $270/month for FULL Family (worker/spouse/all kids) for a PPO (not EPO), $1250/$2500 deductible Ind/Family and max OOP $3500/7K. And we have Out of network OOP capped at $7K/$14K. I believe COBRA costs would be $1900/month. So about the same but for way less coverage and No OON coverage. Not an issue normally, but it is nice to know that if you have some rare medical condition, you can choose to go anywhere in USA and at max pay $7K. With ACA, you are left locally to choose (and we have excellent choices)

This is totally false—or, charitably, I can say it's extremely unlikely.

I suggest everyone considering and nearing early retirement check out their exchange to get exact prices for themselves or their family. At least for Maryland, the figures I have seen are nothing close to what the fearmongers here suggest ("Plan on $2K/month for two people!"). I am a 42-year-old man and I currently pay $2K PER YEAR on the exchange for my health insurance (I have a $10K deductible, but that works for me because I'm healthy). I plan on retiring at 45 so the cost of healthcare is a big question.

I ran lots of quotes for various scenarios: insuring me alone in 10-15 years, insuring a family of 4 in the event I get married, insuring a family member with a chronic condition that causes me to frequently hit the deductible and OOP max. In virtually no scenario could I figure out how to even arrive at a $2K/month spend—and this included plan premiums, deductibles and co-pays. Yet, to hear DCUM talk, you need to plan for $2K/month in premiums alone for two people. Utterly absurd. Potential early retirees, you must run quotes for yourself, as this field is fraught with misinformation.

NP - I just ran the numbers for an ACA plan in Maryland. Our income makes us ineligible for federal subsidies. Estimated premiums were nearly $1,600 a month for a family of four, or around $20k per year. Like a PP said, the ACA is a good option but not an inexpensive one, unless you qualify for federal subsidies.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. We have around $2.5-3m in assets, excluding any home equity in our primary residence. I feel like we can live on just my spouse's income, maybe cutting back just slightly. My spouse does not want to cut back on our lifestyle at all.

Seems fair.
what if spouses wants to retire today too?

OP here. I already answered that and said it would be fine.

Then what would you do for healthcare? I think you're too young to fully understand how things change wrt what you need medically as you get older.

Also, ACA is great, you have some options. But it is NOT cheap. in our 50s, coverage for 2, with VSP and Dental will run $2K/month, with a $6K/12K deductible and max OOP of $9K/$18K. No Out of Network Coverage, except urgent care and ER.

In comparison, we pay $270/month for FULL Family (worker/spouse/all kids) for a PPO (not EPO), $1250/$2500 deductible Ind/Family and max OOP $3500/7K. And we have Out of network OOP capped at $7K/$14K. I believe COBRA costs would be $1900/month. So about the same but for way less coverage and No OON coverage. Not an issue normally, but it is nice to know that if you have some rare medical condition, you can choose to go anywhere in USA and at max pay $7K. With ACA, you are left locally to choose (and we have excellent choices)

This is totally false—or, charitably, I can say it's extremely unlikely.

I suggest everyone considering and nearing early retirement check out their exchange to get exact prices for themselves or their family. At least for Maryland, the figures I have seen are nothing close to what the fearmongers here suggest ("Plan on $2K/month for two people!"). I am a 42-year-old man and I currently pay $2K PER YEAR on the exchange for my health insurance (I have a $10K deductible, but that works for me because I'm healthy). I plan on retiring at 45 so the cost of healthcare is a big question.

I ran lots of quotes for various scenarios: insuring me alone in 10-15 years, insuring a family of 4 in the event I get married, insuring a family member with a chronic condition that causes me to frequently hit the deductible and OOP max. In virtually no scenario could I figure out how to even arrive at a $2K/month spend—and this included plan premiums, deductibles and co-pays. Yet, to hear DCUM talk, you need to plan for $2K/month in premiums alone for two people. Utterly absurd. Potential early retirees, you must run quotes for yourself, as this field is fraught with misinformation.

NP - I just ran the numbers for an ACA plan in Maryland. Our income makes us ineligible for federal subsidies. Estimated premiums were nearly $1,600 a month for a family of four, or around $20k per year. Like a PP said, the ACA is a good option but not an inexpensive one, unless you qualify for federal subsidies.

I'm the PP you and others have quoted. I do plan on receiving subsidies, and the figures cited above—including being unable to find a way to get the healthcare spend for a family of four to reach $2K per month, even with a family member with a chronic condition that causes us to hit the OOP max—assume the use of subsidies. However, keeping one's taxable income down in retirement is an essential part of financial planning, and it is not difficult to qualify for subsidies.

For example, if retiring early with $4M and using a 3% withdrawal rate, that $120K income qualifies a family of four as "low-income" and eligible for subsidies. However, notwithstanding this classification, that income still affords a great quality of life. The federal income tax due would be $0 due to the capital gains tax laws. None of that $120K needs to go toward 401(k)s, IRAs, etc. Assuming the house is paid off when retired, none of the $120K needs to go to mortgage payments. It's all disposable income and is likely on par with that available to an UMC family earning $300K. Therefore, only the very wealthy and the very poor planners are not eligible for subsidies.

And lastly, many here overstate the importance and magnitude of the subsidies. As mentioned, I am currently paying $2K PER YEAR for my plan (with no subsidies since I still work), so barring someone with very serious health problems, options are available for everyone that are much cheaper than the figures often cited here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:100 percent of my friends wives are SAHM wives so I find this discussion interesting. All were professionals. But between 32-37 all dropped out.

None of the wives have any desire for husband to retire early. My wife has been home with kids since 2001 the youngest finally graduating HS soon.

My wife 90 percent her friends have been home with kids 20-30 years. They have their own lives and what is rush to have husband home all day.

None of the men are resentful they work and none of women have a desire to go back to work after working their butts off to raise kids.

It might be a little they only have been saving for retirement on one income so they need to stay. Or maybe since they devoted their whole life to work and wife to raising kids they feel out of place at home or wife views them as one more kid to watch.

I see this a lot in my contemporaries. Seems unfortunate to me.

Why? And for whom?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. We have around $2.5-3m in assets, excluding any home equity in our primary residence. I feel like we can live on just my spouse's income, maybe cutting back just slightly. My spouse does not want to cut back on our lifestyle at all.

Seems fair.
what if spouses wants to retire today too?

OP here. I already answered that and said it would be fine.

Then what would you do for healthcare? I think you're too young to fully understand how things change wrt what you need medically as you get older.

Also, ACA is great, you have some options. But it is NOT cheap. in our 50s, coverage for 2, with VSP and Dental will run $2K/month, with a $6K/12K deductible and max OOP of $9K/$18K. No Out of Network Coverage, except urgent care and ER.

In comparison, we pay $270/month for FULL Family (worker/spouse/all kids) for a PPO (not EPO), $1250/$2500 deductible Ind/Family and max OOP $3500/7K. And we have Out of network OOP capped at $7K/$14K. I believe COBRA costs would be $1900/month. So about the same but for way less coverage and No OON coverage. Not an issue normally, but it is nice to know that if you have some rare medical condition, you can choose to go anywhere in USA and at max pay $7K. With ACA, you are left locally to choose (and we have excellent choices)

This is totally false—or, charitably, I can say it's extremely unlikely.

I suggest everyone considering and nearing early retirement check out their exchange to get exact prices for themselves or their family. At least for Maryland, the figures I have seen are nothing close to what the fearmongers here suggest ("Plan on $2K/month for two people!"). I am a 42-year-old man and I currently pay $2K PER YEAR on the exchange for my health insurance (I have a $10K deductible, but that works for me because I'm healthy). I plan on retiring at 45 so the cost of healthcare is a big question.

I ran lots of quotes for various scenarios: insuring me alone in 10-15 years, insuring a family of 4 in the event I get married, insuring a family member with a chronic condition that causes me to frequently hit the deductible and OOP max. In virtually no scenario could I figure out how to even arrive at a $2K/month spend—and this included plan premiums, deductibles and co-pays. Yet, to hear DCUM talk, you need to plan for $2K/month in premiums alone for two people. Utterly absurd. Potential early retirees, you must run quotes for yourself, as this field is fraught with misinformation.

NP - I just ran the numbers for an ACA plan in Maryland. Our income makes us ineligible for federal subsidies. Estimated premiums were nearly $1,600 a month for a family of four, or around $20k per year. Like a PP said, the ACA is a good option but not an inexpensive one, unless you qualify for federal subsidies.

Same, but it is more in Virginia for some reason.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You don't explain why you want to retire early, OP.

My husband didn't even have a conversation with me about this. He just stopped looking for work after being let go. So he's retired. Or unemployed. I don't think he'll ever work again. he loves to garden, so that keeps him busy some months of the year, and apart from that, he sits at his computer, reading the news and watching nature docs or DYI repair videos. Does he clean the house, do laundry, wash dishes, take care of the pets, manage the children's lives, with their activities, medical appointments and college admissions? No. But he cooks a little.

I am resentful of this situation, and your spouse will be too.

DP. I'm the DH in this situation. Spent the last 3+ years "retired" after losing my job (at 55). Every job offer I got was not something that was consistent with my previous level of work/experience. I was good at what I did and would love to work but not at a job that I'd resent so I stopped looking. Most men are like that. Work is part of our identity. Unless, we'll starve to death, we will not compromise our pride just to work. I'd rather cut down on lifestyle than go spend 8-10 hours reporting to a snot-nosed child whose job I'm more than capable of doing.

On the flip side, I take care of most things in the house, just got the last kid off to college and have enough money ($8M+, $5M of which came from my efforts/investments) to retire on. DW loves her job and wants to keep working, which is fine by me. She can quit whenever she wants but I'm not pushing it. Enjoying the peace and quiet for now..

PP you replied to. I get that past a certain age and level of experience, it's hard to find a suitable position. If my husband took on half of the household and kid-related duties, I'd be fine with the loss of income. But it's not the case, sadly. He's just selfish.

Why are your expectations that he only take on half of the home duties? It needs to be more if he's home and you are working. Sorry PP, sounds like counseling is in your future - for you alone and for the both of you.

The $8m poster seems childish (i.e. attached to immature expectations of life, which is holding him back from full enjoyment of life) too. And I don't see any mention that he took care of the house and kids, just that they are launched, at least to college.

I hope you all can turn it around. You have that ability. Wishing you the best.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. We have around $2.5-3m in assets, excluding any home equity in our primary residence. I feel like we can live on just my spouse's income, maybe cutting back just slightly. My spouse does not want to cut back on our lifestyle at all.

Seems fair.
what if spouses wants to retire today too?

OP here. I already answered that and said it would be fine.

Then what would you do for healthcare? I think you're too young to fully understand how things change wrt what you need medically as you get older.

Also, ACA is great, you have some options. But it is NOT cheap. in our 50s, coverage for 2, with VSP and Dental will run $2K/month, with a $6K/12K deductible and max OOP of $9K/$18K. No Out of Network Coverage, except urgent care and ER.

In comparison, we pay $270/month for FULL Family (worker/spouse/all kids) for a PPO (not EPO), $1250/$2500 deductible Ind/Family and max OOP $3500/7K. And we have Out of network OOP capped at $7K/$14K. I believe COBRA costs would be $1900/month. So about the same but for way less coverage and No OON coverage. Not an issue normally, but it is nice to know that if you have some rare medical condition, you can choose to go anywhere in USA and at max pay $7K. With ACA, you are left locally to choose (and we have excellent choices)

This is totally false—or, charitably, I can say it's extremely unlikely.

I suggest everyone considering and nearing early retirement check out their exchange to get exact prices for themselves or their family. At least for Maryland, the figures I have seen are nothing close to what the fearmongers here suggest ("Plan on $2K/month for two people!"). I am a 42-year-old man and I currently pay $2K PER YEAR on the exchange for my health insurance (I have a $10K deductible, but that works for me because I'm healthy). I plan on retiring at 45 so the cost of healthcare is a big question.

I ran lots of quotes for various scenarios: insuring me alone in 10-15 years, insuring a family of 4 in the event I get married, insuring a family member with a chronic condition that causes me to frequently hit the deductible and OOP max. In virtually no scenario could I figure out how to even arrive at a $2K/month spend—and this included plan premiums, deductibles and co-pays. Yet, to hear DCUM talk, you need to plan for $2K/month in premiums alone for two people. Utterly absurd. Potential early retirees, you must run quotes for yourself, as this field is fraught with misinformation.

I am not the PP your are quoting, but we pay 2K/month total with a 6K deductible/person. We are both health and have no chronic conditions. I think it's easy for you to play fast and lose with healthcare at this point with no kids. You really should check your disdain, and stop putting "your" situation out there as a universal truth.

Maybe you're not an astute shopper - I don't know your situation. But I never suggested anyone should take my word for it or that my situation was representative of anyone else's. I explicitly said people need to run quotes for themselves and not listen to "suggestions" or approximations from others.

Yes you did. "This is totally false—or, charitably, I can say it's extremely unlikely"

Whatever the case, I am no willing to gamble on my health so we pay for a top PPO. You're a single guy who is in a completely different situation, but present your situation as what it should be for everyone.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:100 percent of my friends wives are SAHM wives so I find this discussion interesting. All were professionals. But between 32-37 all dropped out.

None of the wives have any desire for husband to retire early. My wife has been home with kids since 2001 the youngest finally graduating HS soon.

My wife 90 percent her friends have been home with kids 20-30 years. They have their own lives and what is rush to have husband home all day.

None of the men are resentful they work and none of women have a desire to go back to work after working their butts off to raise kids.

It might be a little they only have been saving for retirement on one income so they need to stay. Or maybe since they devoted their whole life to work and wife to raising kids they feel out of place at home or wife views them as one more kid to watch.

I see this a lot in my contemporaries. Seems unfortunate to me.

Why? And for whom?

That at a certain age the spouses no longer even want to come back together after kids leave for college. They want to keep leading separate lives. At least that's how I read the PP's post. And I've seen it with my contemporaries.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You don't explain why you want to retire early, OP.

My husband didn't even have a conversation with me about this. He just stopped looking for work after being let go. So he's retired. Or unemployed. I don't think he'll ever work again. he loves to garden, so that keeps him busy some months of the year, and apart from that, he sits at his computer, reading the news and watching nature docs or DYI repair videos. Does he clean the house, do laundry, wash dishes, take care of the pets, manage the children's lives, with their activities, medical appointments and college admissions? No. But he cooks a little.

I am resentful of this situation, and your spouse will be too.

DP. I'm the DH in this situation. Spent the last 3+ years "retired" after losing my job (at 55). Every job offer I got was not something that was consistent with my previous level of work/experience. I was good at what I did and would love to work but not at a job that I'd resent so I stopped looking. Most men are like that. Work is part of our identity. Unless, we'll starve to death, we will not compromise our pride just to work. I'd rather cut down on lifestyle than go spend 8-10 hours reporting to a snot-nosed child whose job I'm more than capable of doing.

It's opinions and comments like this that worsen ageism in the workplace. There's no shame in working for someone younger than you, and no need to undermine a younger boss because you think you're superior.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You don't explain why you want to retire early, OP.

My husband didn't even have a conversation with me about this. He just stopped looking for work after being let go. So he's retired. Or unemployed. I don't think he'll ever work again. he loves to garden, so that keeps him busy some months of the year, and apart from that, he sits at his computer, reading the news and watching nature docs or DYI repair videos. Does he clean the house, do laundry, wash dishes, take care of the pets, manage the children's lives, with their activities, medical appointments and college admissions? No. But he cooks a little.

I am resentful of this situation, and your spouse will be too.

DP. I'm the DH in this situation. Spent the last 3+ years "retired" after losing my job (at 55). Every job offer I got was not something that was consistent with my previous level of work/experience. I was good at what I did and would love to work but not at a job that I'd resent so I stopped looking. Most men are like that. Work is part of our identity. Unless, we'll starve to death, we will not compromise our pride just to work. I'd rather cut down on lifestyle than go spend 8-10 hours reporting to a snot-nosed child whose job I'm more than capable of doing.

It's opinions and comments like this that worsen ageism in the workplace. There's no shame in working for someone younger than you, and no need to undermine a younger boss because you think you're superior.

+1 I never minded working for someone younger or older. What's the difference?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Look, OP is a troll. No doubt about it. But I’ll say this anyway: you’re “retired” in name only if your spouse is still working full time. The only difference is that instead of your schedule revolving around your work, it revolves around your spouse’s. You’re still not free by any means.

Why? I still work 45-50 hours a week, my spouse has been retired since 2021. He makes dinner for the family and grocery shops but otherwise is completely free. Goes out of town, goes out with friends, etc. How is he not free?

Would you be cool with him going south for six months a year without you?

He’s not completely free. He’s tethered to you and your shackles.

He's free in all ways except that he's in a monogamous marriage. Even if I were retired, I wouldn't agree to live somewhere else half the year. I've spent a lot of time building up my community in the DMV. He could and has gone to visit family for a month at a time, which is totally fine with me.

He’s stuck with you. He’s not retired.

He'll still be stuck with me and my preferences on where to live and spend our time once I retire. Will he be retired then?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. We have around $2.5-3m in assets, excluding any home equity in our primary residence. I feel like we can live on just my spouse's income, maybe cutting back just slightly. My spouse does not want to cut back on our lifestyle at all.

Seems fair.
what if spouses wants to retire today too?

OP here. I already answered that and said it would be fine.

Then what would you do for healthcare? I think you're too young to fully understand how things change wrt what you need medically as you get older.

Also, ACA is great, you have some options. But it is NOT cheap. in our 50s, coverage for 2, with VSP and Dental will run $2K/month, with a $6K/12K deductible and max OOP of $9K/$18K. No Out of Network Coverage, except urgent care and ER.

In comparison, we pay $270/month for FULL Family (worker/spouse/all kids) for a PPO (not EPO), $1250/$2500 deductible Ind/Family and max OOP $3500/7K. And we have Out of network OOP capped at $7K/$14K. I believe COBRA costs would be $1900/month. So about the same but for way less coverage and No OON coverage. Not an issue normally, but it is nice to know that if you have some rare medical condition, you can choose to go anywhere in USA and at max pay $7K. With ACA, you are left locally to choose (and we have excellent choices)

This is totally false—or, charitably, I can say it's extremely unlikely.

I suggest everyone considering and nearing early retirement check out their exchange to get exact prices for themselves or their family. At least for Maryland, the figures I have seen are nothing close to what the fearmongers here suggest ("Plan on $2K/month for two people!"). I am a 42-year-old man and I currently pay $2K PER YEAR on the exchange for my health insurance (I have a $10K deductible, but that works for me because I'm healthy). I plan on retiring at 45 so the cost of healthcare is a big question.

I ran lots of quotes for various scenarios: insuring me alone in 10-15 years, insuring a family of 4 in the event I get married, insuring a family member with a chronic condition that causes me to frequently hit the deductible and OOP max. In virtually no scenario could I figure out how to even arrive at a $2K/month spend—and this included plan premiums, deductibles and co-pays. Yet, to hear DCUM talk, you need to plan for $2K/month in premiums alone for two people. Utterly absurd. Potential early retirees, you must run quotes for yourself, as this field is fraught with misinformation.

FYI-those are the exact prices I am currently getting, thank you! Not DCUM region, but another area that is likely a bit costlier/similar costs. Sure I could get less if I wanted an HMO, but I'd prefer to go with an EPO (as close to a PPO you can get---just no OON coverage) and one where you don't need a referral to see a specialist. I don't need to waste hours every time I want to see a specialist. That plan is in a network that includes all 4 of the major hospital systems in our area. And that is something we want, should there be major health issues. I don't want to be restricted to a lesser system if we get cancer or some major health issue...want to be able to see the top doctors in our area if needed. Just like we have with our current plan.




Also, you are 42----not 55. Huge difference in costs for healthcare as you age!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. We have around $2.5-3m in assets, excluding any home equity in our primary residence. I feel like we can live on just my spouse's income, maybe cutting back just slightly. My spouse does not want to cut back on our lifestyle at all.

Seems fair.
what if spouses wants to retire today too?

OP here. I already answered that and said it would be fine.

Then what would you do for healthcare? I think you're too young to fully understand how things change wrt what you need medically as you get older.

Also, ACA is great, you have some options. But it is NOT cheap. in our 50s, coverage for 2, with VSP and Dental will run $2K/month, with a $6K/12K deductible and max OOP of $9K/$18K. No Out of Network Coverage, except urgent care and ER.

In comparison, we pay $270/month for FULL Family (worker/spouse/all kids) for a PPO (not EPO), $1250/$2500 deductible Ind/Family and max OOP $3500/7K. And we have Out of network OOP capped at $7K/$14K. I believe COBRA costs would be $1900/month. So about the same but for way less coverage and No OON coverage. Not an issue normally, but it is nice to know that if you have some rare medical condition, you can choose to go anywhere in USA and at max pay $7K. With ACA, you are left locally to choose (and we have excellent choices)

This is totally false—or, charitably, I can say it's extremely unlikely.

I suggest everyone considering and nearing early retirement check out their exchange to get exact prices for themselves or their family. At least for Maryland, the figures I have seen are nothing close to what the fearmongers here suggest ("Plan on $2K/month for two people!"). I am a 42-year-old man and I currently pay $2K PER YEAR on the exchange for my health insurance (I have a $10K deductible, but that works for me because I'm healthy). I plan on retiring at 45 so the cost of healthcare is a big question.

I ran lots of quotes for various scenarios: insuring me alone in 10-15 years, insuring a family of 4 in the event I get married, insuring a family member with a chronic condition that causes me to frequently hit the deductible and OOP max. In virtually no scenario could I figure out how to even arrive at a $2K/month spend—and this included plan premiums, deductibles and co-pays. Yet, to hear DCUM talk, you need to plan for $2K/month in premiums alone for two people. Utterly absurd. Potential early retirees, you must run quotes for yourself, as this field is fraught with misinformation.

FYI-those are the exact prices I am currently getting, thank you! Not DCUM region, but another area that is likely a bit costlier/similar costs. Sure I could get less if I wanted an HMO, but I'd prefer to go with an EPO (as close to a PPO you can get---just no OON coverage) and one where you don't need a referral to see a specialist. I don't need to waste hours every time I want to see a specialist. That plan is in a network that includes all 4 of the major hospital systems in our area. And that is something we want, should there be major health issues. I don't want to be restricted to a lesser system if we get cancer or some major health issue...want to be able to see the top doctors in our area if needed. Just like we have with our current plan.




Also, you are 42----not 55. Huge difference in costs for healthcare as you age!

FYI---just priced the same plan that costs me $2K/month at 55 for someone age 42. Note this plan includes Dental and Vision (as it's something our family uses, everyone wears glass and really everyone should have a yearly check anyhow).

It's only $1000/month for family of 2, when you are 42. See---as you age the costs increase greatly. So before you call someone a liar, you should really do your own accurate research.
Add 13 years to you and you will be paying double.

See, I know this as well, because we are contemplating retirement in the next year. We need to know what things will look like once Cobra expires.