Reply to I said we can’t retire yet. Am I wrong?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Previous poster again.  Just saw the post where OP said she is 12 years until the end of college.  So she has a 4th grader?

[b]Yeah, don't retire. Your most expensive kid-related years are all in front of you.[/b]

Also, never assume your kid will attend XYZ college. We thought this and then lo and behold we have a kid attending an Ivy (never would have predicted this as we did not ourselves and we didn't push for it). A few months ago we received the formal first year cost estimate from the university and it's $97k.  And we don't qualify for any aid on our HHI of $350k.

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This. Your unknowns are too high right now. We are roughly your age but we have a kid in college and a kid who is a senior. When we say we have college funded, we mean funded for who we know our kids are and what we would like to give them to set them up. We didn’t know that for each kid until midway through high school. Also, your spending is pretty high.

My DH wants to retire soon. We have assets like yours. But he has said he won’t do it until 4 years from now when our youngest is a college senior. Kids change the game. [/quote]

Definately!  You must have a plan in place for the "kid expenses" and health insurance.  Once kids are "launched" then you have more freedom to retire/cut back hours/etc.  But still know that health insurance from 50+ until you hit 65 can get expensive, as you will pay a lot and most likely have terrible coverage compared to what you had thru your employer (mileage may vary).  We are mid 50s, and ACA coverage (Non-HMO---we want EPO) will run us $2500/month for two of us with a $9k/18K deductibles.  And no dental/vision.  So we estimate spending $3500/month for healthcare once we retire.  Totally doable, but much more expensive than our $300/month for M/D/V with a $1000 deductible and $3.5K in network Cap.  You simply need to plan for those added costs.  Because don't kid yourself, once you hit 50, even if you were "very healthy" shit starts to happen for many people.  It's no longer just a 1-2 times per year visit and a few "urgent care I'm sick" visits.  It could be much more, and it's more likely than not that you will need more medical care.

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