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340 more days........; Until I retire
Topic Started: Jan 17 2017, 08:42 PM (821 Views)
91 ragtop
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I'm counting the days until I can get Medicare. I was hoping to pull the plug at 62 but the insurance thing is so important (especially with my dangerous lifestyle) that I have to wait until I'm 65. I work for the MDT and have been plowing snow for 20 years and this will be my last full winter. I might work driving truck for construction during the summer but plan on going hunting and fishing and my favorite , snowmobiling, anytime I feel like it. I thought that snowmobiling was dangerous but saw a snowplow accident that really got me thinking that work isn't that safe either. Check out this video.

https://www.youtube.com/watch?v=S9jrCEVOvrY


Ken..............
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1993XFI


I feel your pain bother. You are not alone. I will have to wait till 65 also for Medicare. Was also hoping to go at 62. Plowed snow for the city and 5 years was enough for me. Also when all my Metro's are 25 years old my car insurance will be cheaper!
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mt999999
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1993XFI
Jan 17 2017, 10:49 PM
I feel your pain bother. You are not alone. I will have to wait till 65 also for Medicare. Was also hoping to go at 62. Plowed snow for the city and 5 years was enough for me. Also when all my Metro's are 25 years old my car insurance will be cheaper!
Do you have them on full coverage?
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1993XFI


"When all my Metro's are 25 years old my car insurance will be cheaper!"

Do you have them on full coverage?

Yes, full coverage all year long, unlimited mileage, Guaranteed Value from Hagerty. Once the cars are twenty five years old the insurance is cheaper. You have to have Two everyday cars in your name that Hagerty will not insure.
Edited by 1993XFI, Jan 18 2017, 04:21 AM.
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mt999999
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1993XFI
Jan 18 2017, 04:17 AM
"When all my Metro's are 25 years old my car insurance will be cheaper!"

Do you have them on full coverage?

Yes, full coverage all year long, unlimited mileage, Guaranteed Value from Hagerty. Once the cars are twenty five years old the insurance is cheaper. You have to have Two everyday cars in your name that Hagerty will not insure.
I've got everything on liability, and they told me it doesn't get cheaper than that, no matter the age. :lol
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mt999999
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91 ragtop
Jan 17 2017, 08:42 PM
I'm counting the days until I can get Medicare. I was hoping to pull the plug at 62 but the insurance thing is so important (especially with my dangerous lifestyle) that I have to wait until I'm 65. I work for the MDT and have been plowing snow for 20 years and this will be my last full winter. I might work driving truck for construction during the summer but plan on going hunting and fishing and my favorite , snowmobiling, anytime I feel like it. I thought that snowmobiling was dangerous but saw a snowplow accident that really got me thinking that work isn't that safe either. Check out this video.

https://www.youtube.com/watch?v=S9jrCEVOvrY


Ken..............
Wow, is that scary! Do you have many close calls when plowing?
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myredvert
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myredvert

Quote:
 
340 more days........; Until I retire
Hoping your last winter is a safe one Ken. :cheers
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t3ragtop
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Turbo3 and Twincam Tweaker

ken. consider yourself a lucky guy!

i have to go to age 65, 3 more years, to start a pension i have on the back burner without loosing 4% per year before age 65.

for social security, i have to go to age 66 and 2 months to collect the full pop.

i will be eligible for medicare at age 65 but my wife is younger than i am and i have a daughter who will be 14 at the end of this month.

my current job is covered by a public employee retirement system pension and if i collect any of that paid out monthly it decreases my social security by 50% due to "double dipping" rules.

so, with all of that going on it looks like i'll start my private pension at age 65 and stay on my job to cover the girls' health insurance. the kid will fall off 8 years later and my wife will need my help for 10. basically, i'll work until my dirt nap. :shake
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suzukitom
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Tom

Interesting. If you all have additional personal savings and/or a part time job lined up, a gradual retirement would seem to be a good way to enjoy less work and more life prior to age 65.. even with dependents tugging at your purse strings. :P

The retirement concept should be reversed.. After school, receive funding to do whatever you want till age 50 and then commit to working until the end to pay for the retirement you already enjoyed.
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91 ragtop
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Hey Richard, you got my attention . What are the double dipping rules ?

Ken...........
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t3ragtop
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Turbo3 and Twincam Tweaker

tom, i have thought that for a long time. enjoy your retirement while you still have the vitality to enjoy it and then work until you drop. ;)

ken, basically, if you have accrued quarters with social security outside of government employment and then work under a public pension (or railroad retirement system pension) when you retire and claim your ssi they reduce your ssi payout according to rules set by the ss office.

it would be different for each individual based on the retirement amounts involved. the only way to be sure is to visit a social security office and let them review your retirement plan.

the last letter social security sent me listed my ssi benefit at $1995. with a $983 per month public employee's pension payout my ssi benefit was reduced to $950/ month. after consulting with my broker he recommended that i take the pers pension payout in a lump sum, roll that over into a private pension fund, wait a year, and then file for ssi when i am no longer under a pers payout plan to receive the total $1995/ month.

it's prudent to do some financial planning before you actually retire to maximize your pension receipts. ;)
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BillHoo
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The Dali Lama once said "Man is a curious creature. He spends most of his life sacrificing his health. In the final years, he spends all his wealth trying to recover his health."

I plan some kind of soft retirement at age 60 (I got a little more than 10 years to go).

27 years service in the Army and over 20 of it with the National Guard. So I cannot collect til age 60. They are trying to get people to wait til 65 to collect for better benefits package. Medical I think will be TriCare at age 60.

401K is looking good.

Social Security not bad.

I have several rental properties that will all be paid off in about 5 years using OPM. After that it is profit.

Mortgage will be paid off in about 7 years.

I might take on a part time job - selling hotdogs or delivering pizza in my early retirement years.

The big thing is to stay alive. Got my cholesterol under control this year. Blood sugar needs work. I need to lose about 90 pounds.

Biggest concern is cancer and heart disease. All my cousins have had their first stroke within a few years of their 50th birthday (mine is coming up this year).

My grandfather did of complications from pneumonia at age 51. He was a heavy guy like me.
My uncle (father's brother) died at 55 from complications from pneumonia as a result of lung cancer (heavy smoker) he was a heavy guy.
My other uncle (father's cousin) died at 70 complications from pneumonia/lung cancer, heavy smoker, heavy guy
My father died at 82, complications from pneumonia/lung cancer, heavy smoker, moderate weight, credited his health to heavy drinking of black tea.
My aunt died at 80 complications from pneumonia/lung cancer, heavy smoker, heavy gal
All members of my family over 50 have various levels of Diabetes, but none have lost a limb or eye to it.

I'm not a smoker, so I think I can avoid the cancer. But as I get heavier, I notice more symptoms of COPD (years of second hand smoke exposure). I've warned my cousins that newer 10x mag ex-ray technology should be coming out by the time we are in our 50s to detect cancer cells decades before they become an issue. Likewise, in Asia, they are developing a semi-conductor that can detect a cancerous blood cell out of 300 normal cells in a drop of blood.

That leaves the weight and diet control to enjoy retirement.
Edited by BillHoo, Jan 19 2017, 07:37 AM.
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Coche Blanco
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BillHoo
Jan 19 2017, 07:36 AM
That leaves the weight and diet control to enjoy retirement.
Pretty good position to be in, imho. Start losing some weight so you do enjoy it!
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91 ragtop
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39 more days to go. The wheels are in motion. I got my Medicare card today. I'll be on the government insurance on the 1st of Dec. My last day of work will be Dec. 8th.


Ken..........
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Car Nut
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I'm jealous. The insurance cost is the only thing holding my wife and I back right now. I'm 61, she's 59. We'd both like to stop work NOW.
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