I have nothing to add to this conversation, I just wanted to say thank you to everyone for sharing so much information over time. I’m not ready to retire yet - I’m 50, spouse is 59. I’d * LIKE * to retire, but I’m thinking it makes sense for me to work six or seven more years.
That said, with my youngest heading out of the house to college this fall, I know I will need a Big Thing To Research And Plan. (This is how I get through life - you can watch the whole arc of the last 25 years in my research/project interests: getting married, buying a house, conceiving children, finding good daycare, buying a bigger house in a better school zone, managing neurodivergent kids, learning about their weird sports, finding a college for 1, finding a college for 2 and now…)
So anyhoo, thank you all for sharing thoughts. I have a lot to figure out and unpack over the next few years and I appreciate reading through your questions and suggestions. Even if not relevant to us, it’s interesting to give me other things to think about or questions to ask as to whether something SHOULD be relevant for the life we want or not.
Passive income at its finest and safest - and yes, the article is written by a salesperson - but it doesn’t dispel the truth behind (when you buy individual securities, not funds).
I am similar to you. Having a “project” is good for me.
Don’t feel bad asking a question that may have already been asked. We tend to cycle through topics multiple times over the years.
Congratulations on the almost empty nest.
OMG totally. DH and I are mid50s but here I am hanging on out this thread since I always need SOMETHING to research and plan, and that’s our next milestone.
And re: a project: any chance you’re up for a new pet? A puppy if you really want a new all-consuming hobby, or if not, at least a kitty? A fluffy new creature to raise would check ALL of your boxes. I don’t know what I do without my ‘little buddy’ (puppy) when my kids are so far away.
As someone who has been retired for several years and whose spouse is about to retire (well, at least from the current job and will find something else to keep him entertained, no matter how small) he and I have discussed cashflow /income issues. I have taken my SS but he has not. He has a modest pension from a previous job that just started to pay out. I wanted to have some other things to pay directly into the account but he is adamant that he can do better with his investments and just move money over as we need to. Next year I’ll have to do RMD’s anyway. I trust his judgment.
Unfortunately, the one person left in the house with me (my husband) is the one allergic to all the animals. Because if not, I’d love a dog. Not just because dogs = amazingness, but also to give me No Excuse to get my butt out of my house and start walking. I get home from work and theoretically have plenty of time to do something that involves movement, but my favorite reading chair and literally any book in the house even if I’ve read it 5 times already always seem to call louder…
Could your husband have opened five cards within the past 24 months? Chase will not issue you a new CC if you have opened five cards anywhere: store, bank, co-branded, Costco, etc.
Chase is usually OK with 30 days between Chase cards. Not always…
Agree with your advice to fretfulmother to open a new card for the bonus. If the old card carries a fee, then cancel before next renewal once the new one is open.
You will still have income, as reported on your tax return, unless your investments are super tax-efficient. If you have a good credit score and long credit history, you should be able to join the CC game.
No, I don’t think he’s opened that many cards in 24 months. The denial message he got said, “Too many requests for credit or opened accounts with us”. I’m thinking that the only credit requests he’s had with Chase was the currrent credit card he got, plus a credit line increase request as soon as he got it (denied, I think they make you wait a certain amount of time). Plus our mortgage, to be paid off in a few days, yay, is with Chase. I’m pretty sure it’s because he just got that other credit card with Chase.
No issues getting the credit cards because of retirement. You put in what you think your income is going to be (including whatever you think you’re going to withdraw from your 401K), and I’ve never had anyone ask to prove it, though it would be no problem submitting the last years information. Nobody asks for tax returns or pay statements for credit cards.
I did, however, have a terrible time getting a HELOC from PenFed credit union in retirement. They kept denying us, having to submit a number of times to to their management for waivers. We showed them proof of our pensions, which are actually more stable and reliable than a job that you can lose. We showed them healthy assets, no debt except a small mortgage, high credit scores, and a HELOC request of less than 10% LTV. I had to ask, if you won’t lend money to people like us (who have had a long history with them, with two paid off mortgages and two cars with no late payments with them), who will you lend money to? I cannot believe how hard it was, and I almost gave up. It took us four months to get that HELOC.
We had Delta Dental plan under company/COBRA. The AARP Delta Dental - our dentist office said it does not cover as the Delta Dental plan we had. So one cannot assume ‘Delta Dental’ is the same with different providers. We are in AL. IDK if it is area specific on dental plans and how well they cover - what various state insurance might stipulate (IDK if they get involved with dental plans like they do with health insurance, homeowner’s, car, other insurances).
No, I would not expect Delta Dental to be the same everywhere, but when we asked our specific provider what insurance they were preferred for and what had the best coverage, that’s what she said. I would not expand that to include everyone, my point was that one could get good information from their own dental office, not mine. Unless they are going to my dentist.
