I will have lifetime insurance when I retire from the State.

One tip is that if you need to lose weight (after sitting at a desk for 30 yrs), do it first thing because it gets harder to exercise as one grows older.
I took my dog for a two mile walk in the cool morning air nearly every day for the first three months after retirement and was happy with the results.

AgOutsideAustin said:

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Her teacher retirement and your ss is like what 6 grand ? 7 ?

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I wish, lol. They total just under $5,000. But with no debt, we are able to live on that amount. Mind you I am no Dave Ramsey, throughout my work career I had a lot of debt, but had a lot of cash flow to service it. Once I decided it was time to retire, and knowing that cash flow was going to go away, we started paying everything off.

We have other income (rents, dividends, interest, note receivable from sale of a business) but we do not use any of it to live on. We also do not pay much income tax (zero for 2021, $2k for 2022) because of depreciation creating losses in one business and our resulting taxable income is almost all qualified dividends and capital gains.

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I officially retire on June 30th. Can't wait. So much I've got tee'd up.

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Today was an interesting day. I met with my boss, and 'officially' told him I was done on June 30th. It went well, and as I thought he would, offered me an opportunity to some 1099 contract work.

Then I met with HR. Pretty funny situation. We're a young company, and the work force is in their 20's, 30's, and 40's. Only the CEO is older than me. As such, I found out I'll be the first person to ever retire from them.

62strat said:

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I thought the biggest hurdle to early retirement is medical care?

What do people retiring in their 50s do for medical insurance?

My aunt and uncle were both retired by about 55, and she told me they pay something like $40k a year on premiums.. which is a lot for most people to retire that early.

My dad literally worked to 65 solely for medicaid.

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We were fortunate in that my wife retired from Chevron and they have a retirement medical plan. We have to pay premiums every month but about the same when she was working. Having affordable healthcare played a big factor in deciding to retire. She went at 57 and I went at 58.

jackson-kyle said:

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62strat said:

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I thought the biggest hurdle to early retirement is medical care?

What do people retiring in their 50s do for medical insurance?

My aunt and uncle were both retired by about 55, and she told me they pay something like $40k a year on premiums.. which is a lot for most people to retire that early.

My dad literally worked to 65 solely for medicaid.

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We were fortunate in that my wife retired from Chevron and they have a retirement medical plan. We have to pay premiums every month but about the same when she was working. Having affordable healthcare played a big factor in deciding to retire. She went at 57 and I went at 58.

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I've been estimating $1k/month for healthcare.

And that is about what we pay out of pocket for the premiums.

This is a great thread! Hope it doesn't get derailed!!! Myself- soon to be 55. No real # to retire yet, but definitely thinking about the option!

I more enjoy this thread about what people are doing, keeping busy etc


Keep it rolling

My plan is at the end of August. I already exercise and believe I will more but my biggest worry is that it will be more tempting to have a mimosa every late morning and throw some beers in during the day as I work around house/yard.

jackson-kyle said:

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And that is about what we pay out of pocket for the premiums.

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Per person ?

Leeman said:

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jackson-kyle said:

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And that is about what we pay out of pocket for the premiums.

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Per person ?

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Total. For the family. We still have one in college.

ToddyHill said:

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I officially retire on June 30th. Can't wait. So much I've got tee'd up.

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Today was an interesting day. I met with my boss, and 'officially' told him I was done on June 30th. It went well, and as I thought he would, offered me an opportunity to some 1099 contract work.

Then I met with HR. Pretty funny situation. We're a young company, and the work force is in their 20's, 30's, and 40's. Only the CEO is older than me. As such, I found out I'll be the first person to ever retire from them.

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You're so close! Congrats

I turn 50 this year. Work for myself and don't know if I'll ever 100% retire and totally pull the plug. I generally enjoy coming to the office - even if I don't actually get any real work done. However, I hope to be able to significantly downshift at/around 60 which will be about when our twins leave the house. Probably sell our current house that we're paying stupid taxes on and move somewhere smaller with much lower property taxes and/or with significant tax exemptions. I grew up in a small town and at 60 I will have been in the middle of the big city for almost 40 years. I love where we live - but am looking forward to getting out.

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What do people retiring in their 50s do for medical insurance?

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If you are retiring from TAMU and meet the eligibility requirements, you can choose to keep your benefits, including medical insurance. I retired from TAMU in 2018 at 54yrs and have kept all my and my spouse/dependents' benefits. Based on my year of hire, I had to meet the 'Rule of 80' requirement - keep benefits as a retiree if age and years of service is equal to or greater than 80. I pay around $550/month for medical/dental/vision for my family of 7 (TAMU contributes around $1200/month).

I guess I never even thought about looking into whether or not my wife will have insurance benefits when she retires from the school district with PERA.

I was supposed to retire last Friday. I extended it till today due to a couple of business issues in which I was a part.

It is way too surreal to think it's over in four hours. 50+ years (I went to work when I was 16). About 18 months ago, I told my boss (who is 25 years younger than me), that I was going to retire in early 2022. He told me I couldn't, that I would die. Too darn funny. I stayed on, but now I'm done.

Hope I don't die...

A new chapter begins...

Every day in retirement is a day
1.) you don't have to go into the office
2.) you don't have to put up with disagreeable business partners, clients, co-workers, management and staff
3.) you get to laugh at ludicrous HR complaints
4.) where you make the rules (Care center staff notwithstanding)
5.) you are free to help your fellow man unencumbered by the social norms inflicted upon you by community groups and the like.
6.) Rejoice! Your freedom is here.

I got a very short 28 years to go.

ToddyHill said:

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I was supposed to retire last Friday. I extended it till today due to a couple of business issues in which I was a part.

It is way too surreal to think it's over in four hours. 50+ years (I went to work when I was 16). About 18 months ago, I told my boss (who is 25 years younger than me), that I was going to retire in early 2022. He told me I couldn't, that I would die. Too darn funny. I stayed on, but now I'm done.

Hope I don't die...

A new chapter begins...

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Congratulations! What a great feeling that must be

Any FIRE retirees here?

I can't talk right now- too busy with a plethora of things to do - all the things we didn't have time for before now.

Best advice : Don't buy a recliner and don't sit down anywhere. Keep moving . Drink Cannonau.
in moderation. Life is short . Live it well .

Thawing out shredded potatoes so I can make hash brown / egg muffins in the morning .