Reply to Help me figure out the cost of "early" retirement

Forum Index » Money and Finances

Reply to "Help me figure out the cost of "early" retirement"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Does your pension include health care or; alternatively, does your DH have decent coverage you could use?  That would be one easy cost to determine.

[/quote]

Yes, retirees are able to keep their health insurance at the same rate - so I currently pay $228 a paycheck for family coverage.  DH's employers have traditionally had more expensive plans.  [b]When I'm 65 I have to enroll in Medicare and my employer coverage becomes secondary[/b].[/quote]

Why would you have both? Pick one and save money.

I am a fed and our benefit calculation is pretty similar to yours (except you get a lot more). I am 59 and was thinking about retiring this year but if we retire before 62, we don't get COLA adjustment until 62. As the inflation is expected to stay high into next year as a minimum, I couldn't walk away. [/quote]

My mom is a retired NY teacher. She has both. She was probably ‘wasting money’ on both until this year when she was hospitalized for a month. The bill was just short of one million dollars and her total out-of-pocket was under $1,000. All of a sudden, all those years of paying over were worth it.

One other thing - [b]the COLA has not actually kept up with the cost of life. [/b]She retired 30 years ago at the top of the pay scale and what was a generous retirement then is perhaps half of a generous retirement now. [/quote]

Yeah, that's not surprising. In fed, we call it COLA light or diet COLA. Less than full COLA adjustment.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics