Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’ve saved 25-50% of income since graduating, so I’m out no later than age 50, but probably done at 45-47.

Ha Ha, I saved that too. You have no clue how much things cost in the future. My college was $3,000 a year. My kids college are $50,000 a year. My Parents rent controlled apt was $97 dollars a month when a kid, my house costs me all in around $6,000 a month. My Dad could buy a good used car for $500 bucks, I need $20,000 for a good used car.

Someone who is 30 today cant comprehend by 2076 when old and retired their monthly expenses will be 10x what they expected. My MIL her property taxes annually are same price she paid for her house!!! She paid $13K for house in 1966 and 60 years later she pays $13K property tax.

Can you imagine paying 1.5 million for a house in 2026 at the age of 29 and in 2097 when you are 89 paying 1.5 million a year in property taxes each year. Thats what happened to my MIL.

I think I have a partial understanding why you have such issues with retirement and retirement savings - you are not very good at math and/or doing even remedial research. $13k in 1966 is about $132K in today's money, so she is paying about 10% of the current value.

So you think 132k property tax on a 1,300 sf house is fair.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am retiring next week and just turned 65. My Medicare will start May 1 and I will get my first Social Security payment the end of May.

While it is not official yet, I know my job position is targeted for layoff. So it is time for me to leave on a happy note instead of a company wide layoff bloodbath.

Most of my friends had one person in the couple retire before 65 while the other waits or age 70.

This is standard operating procedure.

There are few good jobs in corporate America now, and most of us in our 60s are sick of it.

why not stay for layoff? Most places I worked at everyone 60 and over stayed for layoff. Like a gift.

Because they don’t do a lump sum. They just keep paying you for a few weeks. My Social Security will be more than I would get from them.

If you are under 70 no need to take SS you defer for larger payment. And a lot of companies those extra week pay they keep you on employee medical plan at employee rate the same amount of severance weeks. Plus at places I worked it trigger in some cases accelerated vesting of stock grants or if no grants a prorated bonus pay out.

For example, lets use Fannie Mae as example average severance 4 weeks per year. They pay for Cobra payment at employee rate for amount of severance weeks. They also pay pre-rated your next years bonus amount. Plus they do it same day and pay you two weeks in lieu of notice.

Joe Blow makes 200K a year, gets 100K bonus. Is a Fannie 10 years. He is laid off June 30, He gets 40 weeks pay, plus two weeks in leu of notice, plys 50K prorated bonus. At end of severance period of 44 weeks eligible for unemployment another 26 weeks. That combined is 70 weeks pay (between severance and unemployment).

I worked there an pretty much nobody every retired who was there a few years. As soon as you slow down a few months to maybe max of two years they lay you off. Why walk out the door?

I got a massive package at 54 from a long term job. I was too young to retire but everyone I worked with over 59 did. As soon as we knew packages were coming 100 percent of people over 50 stopped quiting or retiring.

Anonymous wrote:I am thinking of "retiring" to become a teacher for my second act. I feel like being around kids all day will keep me young. I am probably naive about how much work it will be, though. Has anyone here done it?

Anonymous wrote:

Anonymous wrote:Medicare for all will stop this craziness

You Sir have no idea what you're saying. You know nothing about Medicare.

-This years' premium is $202 monthly and climbs every year above the COLA given.
-If your income is above $109k then you have to pay a premium on top of the $202. You may have to pay up to $700 monthly if you have a high income.
-Medicare doesn't cover many medical expenses. It has a co-insurance for many procedures. It also doesn't cover eye care or dental. If you want the gap coverage i.e. Part Q, the premium is around $200mth if you're healthy.
-If you want most prescriptions to be coverered , then it's around $50mth

There you go, just for basic medicare and minimum coverage similar to workplace Insurance, you will be paying a minimum $450mth.

You're an ignoramus if you think Medicare for all is a good idea. Throw on millions of people that haven't paid a lifetime into the fund and the expenses increase exponentially raising the premiums to $1000'S.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am retiring next week and just turned 65. My Medicare will start May 1 and I will get my first Social Security payment the end of May.

While it is not official yet, I know my job position is targeted for layoff. So it is time for me to leave on a happy note instead of a company wide layoff bloodbath.

Most of my friends had one person in the couple retire before 65 while the other waits or age 70.

This is standard operating procedure.

There are few good jobs in corporate America now, and most of us in our 60s are sick of it.

why not stay for layoff? Most places I worked at everyone 60 and over stayed for layoff. Like a gift.

Because they don’t do a lump sum. They just keep paying you for a few weeks. My Social Security will be more than I would get from them.

Anonymous wrote:I am thinking of "retiring" to become a teacher for my second act. I feel like being around kids all day will keep me young. I am probably naive about how much work it will be, though. Has anyone here done it?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Medicare for all will stop this craziness

You Sir have no idea what you're saying. You know nothing about Medicare.

-This years' premium is $202 monthly and climbs every year above the COLA given.
-If your income is above $109k then you have to pay a premium on top of the $202. You may have to pay up to $700 monthly if you have a high income.
-Medicare doesn't cover many medical expenses. It has a co-insurance for many procedures. It also doesn't cover eye care or dental. If you want the gap coverage i.e. Part Q, the premium is around $200mth if you're healthy.
-If you want most prescriptions to be coverered , then it's around $50mth

There you go, just for basic medicare and minimum coverage similar to workplace Insurance, you will be paying a minimum $450mth.

You're an ignoramus if you think Medicare for all is a good idea. Throw on millions of people that haven't paid a lifetime into the fund and the expenses increase exponentially raising the premiums to $1000'S.

This sounds awful. I carried my health insurance from my employer into retirement, but when I turn 65, I will have to sign up for Medicare. The work insurance I believe becomes secondary insurance. But if what you quoted is true, my insurance cost will nearly double. Nine hundred dollars for one-person for Medicare expenses is ridiculous. And then to have to pay the premiums on the secondary insurance because Medicare covers little is asinine.

Yes it is ridiculous! That is why we need universal healthcare and need to get insurance companies out of it!

I should not have to pay $1200+ per person for healthcare at age 65+, for crappy insurance I have paid well over $500k into Medicare.

Yes you should pay that. That is what it costs or it actually costs more.

I have paid well over $500K into medicare, my spouse has paid over $200K. I think the $700K+ we have paid has us covered. More than covered. We should not have to pay another $2.4K+/month for us to have basic healthcare in our retirement.

But perhaps you missed out on reading that we have paid more than 99%+ of people have paid in.

I just pulled up my SS statement, which is current through 2024. I have paid $115,640 in medicare taxes, and my employer has paid $93,889. I am 54 years old, graduated from law school in 1997, have been working the entire time, and have made anywhere from $250k to $500k for the past two decades. If you have paid "well over $500k" in Medicare taxes, you have been extraordinarily well paid for years, and should, quite simply, STFU and quit whining about Medicare premiums.

Anonymous wrote:one thing i’m very happy about is we had kids in our early/mid 20s. Our kids will
be out of college before we are 50 and we ended up over funding their 529s since both are in state schools. Also having kids early got us on the DC real estate ladder early in life. my oldest is graduating college next month and has a job lined up with great health insurance benefits. it’s going to be a huge relief to have them both independent by the time we are 51. Health insurance before medicare kicks in is not a big worry since it’s only the 2 of us we will need to consider. We have friends our age with little kids and my God they definitely are on the hook for a looooog time financially caring for children well into their 60s.

Anonymous wrote:

Anonymous wrote:I am retiring next week and just turned 65. My Medicare will start May 1 and I will get my first Social Security payment the end of May.

While it is not official yet, I know my job position is targeted for layoff. So it is time for me to leave on a happy note instead of a company wide layoff bloodbath.

Most of my friends had one person in the couple retire before 65 while the other waits or age 70.

This is standard operating procedure.

There are few good jobs in corporate America now, and most of us in our 60s are sick of it.

why not stay for layoff? Most places I worked at everyone 60 and over stayed for layoff. Like a gift.

Anonymous wrote:I am retiring next week and just turned 65. My Medicare will start May 1 and I will get my first Social Security payment the end of May.

While it is not official yet, I know my job position is targeted for layoff. So it is time for me to leave on a happy note instead of a company wide layoff bloodbath.

Most of my friends had one person in the couple retire before 65 while the other waits or age 70.

This is standard operating procedure.

There are few good jobs in corporate America now, and most of us in our 60s are sick of it.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Medicare for all will stop this craziness

You Sir have no idea what you're saying. You know nothing about Medicare.

-This years' premium is $202 monthly and climbs every year above the COLA given.
-If your income is above $109k then you have to pay a premium on top of the $202. You may have to pay up to $700 monthly if you have a high income.
-Medicare doesn't cover many medical expenses. It has a co-insurance for many procedures. It also doesn't cover eye care or dental. If you want the gap coverage i.e. Part Q, the premium is around $200mth if you're healthy.
-If you want most prescriptions to be coverered , then it's around $50mth

There you go, just for basic medicare and minimum coverage similar to workplace Insurance, you will be paying a minimum $450mth.

You're an ignoramus if you think Medicare for all is a good idea. Throw on millions of people that haven't paid a lifetime into the fund and the expenses increase exponentially raising the premiums to $1000'S.

This sounds awful. I carried my health insurance from my employer into retirement, but when I turn 65, I will have to sign up for Medicare. The work insurance I believe becomes secondary insurance. But if what you quoted is true, my insurance cost will nearly double. Nine hundred dollars for one-person for Medicare expenses is ridiculous. And then to have to pay the premiums on the secondary insurance because Medicare covers little is asinine.

Yes it is ridiculous! That is why we need universal healthcare and need to get insurance companies out of it!

I should not have to pay $1200+ per person for healthcare at age 65+, for crappy insurance I have paid well over $500k into Medicare.

Yes you should pay that. That is what it costs or it actually costs more.

I have paid well over $500K into medicare, my spouse has paid over $200K. I think the $700K+ we have paid has us covered. More than covered. We should not have to pay another $2.4K+/month for us to have basic healthcare in our retirement.

But perhaps you missed out on reading that we have paid more than 99%+ of people have paid in.

Anonymous wrote:

Anonymous wrote:I’ve saved 25-50% of income since graduating, so I’m out no later than age 50, but probably done at 45-47.

Ha Ha, I saved that too. You have no clue how much things cost in the future. My college was $3,000 a year. My kids college are $50,000 a year. My Parents rent controlled apt was $97 dollars a month when a kid, my house costs me all in around $6,000 a month. My Dad could buy a good used car for $500 bucks, I need $20,000 for a good used car.

Someone who is 30 today cant comprehend by 2076 when old and retired their monthly expenses will be 10x what they expected. My MIL her property taxes annually are same price she paid for her house!!! She paid $13K for house in 1966 and 60 years later she pays $13K property tax.

Can you imagine paying 1.5 million for a house in 2026 at the age of 29 and in 2097 when you are 89 paying 1.5 million a year in property taxes each year. Thats what happened to my MIL.