Welcome to InsuranceForums.info!   

Advertisments:


Sponsor Links

Affordable Pet Insurance
Travel Insurance Comparison


Roamright Travel Insurance

Looking Back, Would You Have Retired Early?

Going on a holiday? Get the right Travel Insurance!

Looking Back, Would You Have Retired Early?

Postby Attewater » Sat Aug 12, 2017 1:30 pm

Brief story- parents can retire, but were told their COBRA insurance until Medicare kicks in would be 1,000 a month until they get medicare. Even after the insane amount per month and all of their monthly expenses, they will still have $1500 a month of cushion or savings.... more than most people have even without a high COBRA bill. Their 401k is moderate, only about 180k, but they plan to not touch ir or need it and have it just sit in a "safe" account. To be able to spend time with their granddaughter and travel means the world to them and they have worked hard jobs their entire lives. I told them looking back yes its almost 20,000 for the 18 months under COBRA but looking back when your 75 was it worth it to make mom keep working (dad has to retire no choice) and never get to spend that time with granddaughter or travel as you wish or sleep in late? Especially with a savings cushion of almost $1500 a month! What do you think? Mom would have to stay at work for 20 more months...
they are just crushed to write a check that large (even though its a normal insurance amount) and don't want to feel like they would put themselves in a bad situation. They own their home and have no debt. I think they would be best retiring.
Attewater
 
Posts: 51
Joined: Sun Jan 19, 2014 3:25 pm

Looking Back, Would You Have Retired Early?

Postby forgael » Sun Aug 13, 2017 12:11 am

Not at all and wish aI could still give a lick on the old job now and again.
forgael
 
Posts: 469
Joined: Thu Mar 31, 2011 9:51 pm

Looking Back, Would You Have Retired Early?

Postby Jervis » Sun Aug 13, 2017 12:30 pm

Yes. I was having some back & knee problems. Had a chance to retire at age 60,and get same amount of money as i was making while working. Did that 10 years ago & would do it again.
Jervis
 
Posts: 45
Joined: Tue Jan 28, 2014 11:18 pm

Looking Back, Would You Have Retired Early?

Postby Wambliwaste » Sun Aug 13, 2017 9:25 pm

I see two strong statements here: "To be able to spend time w/their granddaughter and travel..." "Mom hates her job very high stress..."

Listen: Life is shorter than we think. I grabbed early retirement partly due to caring for my mother, and partly because I got sick and tired of commuting to a hostile environment workplace-nothing was done to resolve the situation.

It was either don't care for my mother (unthinkable), tolerate a workplace war zone and retire with a higher pension...or get out with a penalty towards my pension, my health intact and my mother cared for.

I have no regrets about my choice. I'm much happier now than when I worked.
Wambliwaste
 
Posts: 54
Joined: Thu Jan 16, 2014 2:23 pm

Looking Back, Would You Have Retired Early?

Postby Vandenberg » Mon Aug 14, 2017 1:36 am

Nope
Vandenberg
 
Posts: 64
Joined: Fri Jan 31, 2014 8:27 am

Looking Back, Would You Have Retired Early?

Postby Lisandro » Mon Aug 14, 2017 6:09 am

I did it because I wanted my freedom more than the money I would lose through early retirement. We had excess income anyway so what is the difference? I got an extra year of doing what I wanted. We have enough money to live comfortably anyway. So we have a little less in the bank. What's the difference? It doesn't cost anything for your last trip which is to heaven or ???? and you certainly can't take it with you.
Lisandro
 
Posts: 45
Joined: Wed Mar 05, 2014 11:30 pm

Looking Back, Would You Have Retired Early?

Postby Mustafa » Thu Aug 17, 2017 12:02 am

I retired early.paid the price, but would not have stayed there the management was terrible.
Mustafa
 
Posts: 44
Joined: Tue Jan 07, 2014 3:49 pm

Looking Back, Would You Have Retired Early?

Postby Hagalean » Thu Aug 17, 2017 2:31 am

My husband and I both retired early..best thing we ever did. We paid our cobra, and thoroughly enjoy being able to do just as we pleased..who knows in 18 months one parent may pass or get an incurable illness..Our motto is "Fly while you still have wings" that is exactly what we are still doing 14 years later..You mom dislikes her job, think how much happier she would be leaving it..right now life is too short not to enjoy it..keep encouraging them..
Hagalean
 
Posts: 44
Joined: Wed Feb 12, 2014 9:54 am

Looking Back, Would You Have Retired Early?

Postby Eluwilussit » Thu Aug 17, 2017 9:44 pm

Brief story- parents can retire, but were told their COBRA insurance until Medicare kicks in would be 1,000 a month until they get medicare. Even after the insane amount per month and all of their monthly expenses, they will still have $1500 a month of cushion or savings.... more than most people have even without a high COBRA bill. Their 401k is moderate, only about 180k, but they plan to not touch ir or need it and have it just sit in a "safe" account. To be able to spend time with their granddaughter and travel means the world to them and they have worked hard jobs their entire lives. I told them looking back yes its almost 20,000 for the 18 months under COBRA but looking back when your 75 was it worth it to make mom keep working (dad has to retire no choice) and never get to spend that time with granddaughter or travel as you wish or sleep in late? Especially with a savings cushion of almost $1500 a month! What do you think? Mom would have to stay at work for 20 more months...
they are just crushed to write a check that large (even though its a normal insurance amount) and don't want to feel like they would put themselves in a bad situation. They own their home and have no debt. I think they would be best retiring.
Eluwilussit
 
Posts: 48
Joined: Sun Feb 23, 2014 5:12 am

Looking Back, Would You Have Retired Early?

Postby Fineen » Fri Aug 18, 2017 8:01 am

I did retire early and have never regretted it for even one minute.
Fineen
 
Posts: 44
Joined: Tue Apr 08, 2014 11:20 am


Return to Travel Insurance

 


  • Related topics
    Replies
    Views
    Last post