The medical insurance + Medicare is “belt and suspenders,” and provides you with better protection than just one or the other.
H gas both now and rarely had any co-pays between the two. As he gets older and has more medical issues (especially chronic ones) it’s more and more important to our financial security.
When I’m 65, I will get free Medicare A and pay for part B as well. Insurance covers some things that Medicare doesn’t and vice versa.
@CountingDown - Thank you for the info. I will share it with my friend. I’m assuming there is no recourse.
My father had great health insurance from the State Department. When he retired they decided that my Mom wouldn’t take the spousal benefit. Unfortunately no one told them that if he died first she’d be without insurance. Luckily she could afford to be covered, but if they had realized what it would cost they might have made a different choice.
@mathmom , that is the reason I continued the spousal coverage. I also have D2 on it for another year then she can get cobra.
TSP is fine if you just plan on leaving the money there and not take an active role in managing the money inside it. The process of moving money around is very time consuming and not good for making adjustments based on market conditions. If you want to be able to shift money around instantly, putting the money in a fund like Vanguard is much better.
To take this in a slightly different direction (but still on-topic) did anyone watch “Better Late Than Never”? It was on Tuesday night (I dvr’ed it).
It’s 4 old famous guys going around the world. William Shatner (who is, unbelievably, 85!), Henry Winkler (70, “the Fonz”), George Foreman (67, needs no introduction) and Terry Bradshaw (67, football guy, looks older than Shatner!).
I bring this up because there has been various discussions earlier in the thread about the “no go” stage of retirement. H and I lean towards the “go to you drop dead” theory, and this show appears to support it, down to the fact that they’re taking bets on what country Shatner will keel over in, lol. They all have had surgeries, knee replacements, hip replacements, etc, but they are all very much still “going”, albeit very, very carefully.
The show is on every tuesday night, for those who are interested. It started off in Tokyo, a very senior-friendly city (and first world), which seems to work well for the idea of super seniors on an adventure.
@MotherOfDragons I lean strongly GO Until Dead theory. With todays medical advances you can be rebuilt. I’m not sure what I’ll be doing in my 80’s and 90’s but it wont be sitting around watching TV (unless I’m completely bed ridden). I ski with a group of guys that are all in their 80’s and 90’s. I mountain bike with a guy who is 78! My dad sails his boat up and down the east coast in his 70’s. My grandfather shingled his own roof in his eighties, hauling those heavy bags of shingles up a ladder on his own, whoah!
So #1 concern for me is having adventurous things to do around my place of retirement. And a hospital nearby, ha:)
@MotherOfDragons
Tried to watch the show, as we love all the actors.
Yeah, just no.
I can’t even think of how to describe how stupid and humiliating it was.
Give me Anthony Bourdain any day.
And if Terry Bradshaw’s agent wasn’t fired about his unkempt hair, Terry should sue himself. Good god.
^^My husband fell asleep watching it. I still thought it was awesome, but my sense of humor is a little unhinged.
@doschicos …Obama care is just as expensive or more expensive than Cobra. Ohmyword. Now it might be a smidge different when D is off our insurance, but two years ago when H was laid off we were paying $1300.00 a month for a 7,000 deductible plan. It was insane.
The insurance gap between retirement and Medicare at 65 is a massive problem.
Which is why expanding Medicare to cover everyone under a single payer system is the only one that makes sense in the long run.
@carachel2 Must depend on your cobra coverage, state and family situation as it was less than half for me.
@doschicos …I imagine it might be cheaper when it is just the two of us maybe?
Either way, we regularly have to sign papers claiming we are not using Obamacare, we see providers who have big signs in the window saying “we do not accept Obamacare.” It is just not an option I would ever want to use again. It was not a good experience. Which is a shame and maybe things will change.
I had dinner with an older (77) friend recently. She had Medicare plus retire coverage, but she has to pay the entire amount of the group policy. I can’t remember what she to,d me about monthly cost, but it was really high.
Regarding places to retire, she said years ago she found a site where you out in what’s important to you, or pick choices or something, and she did that. Her outcome was where she lives now, which is Columbia, MD.
I have been looking at “best places to retire” lists lately.
I want someplace where I can walk to “town,” outdoor activities including hiking are plentiful, there are a fair number of sunny days (I was thinking Portland or Seattle at some point, but H really has issues with too much gray/rain), and there is not much snow. I also want a place where they lean left, not right, if that’s an “issue” for a location. Plus fairly close to airport, good medical care, and many of the other “normal” criteria.
Going through lists and looking at random places last night, the only one I got a little excited about is Sedona, AZ. Thats kind of funny, because 14 years ago we went there and thought it would be a great place for retirement. Now we may be “priced out,” but on Zillow houses didn’t look that expensive.
We may very well retire in place, between DC and Baltimore, and wait for kids to settle some before making another choice.
Maybe its your state. I switched and Anthem had all our doctors in its network. It was pretty seamless.
But, yes, its far from a perfect system, mainly because it got so watered down in the process. I’m onboard with @NoVADad99. A single payer system is the only sensible and just answer.
I agree but I fear that it will never happen in the U.S. I feel for my family and friends who live in the U.S. who have to deal with the challenges of healthcare coverage.
As I contemplate retirement in about 18 months at 62, I worry about being a contributing member of society. It’s important to me that I continue to feel worthwhile. I’ve been advised to avoid jumping into volunteer work, etc right after retirement. The suggestion was to give oneself a year or so before making a serious volunteer commitment. Suppose the idea is we may feel differently when we don’t have the daily grind of regular employment. I have interests and friends that will keep me busy–not really concerned about having too much time on my hands–but I’m not sure they’ll offer me fulfillment.
I am single, so no spouse to consider. Fortunately, my pension, survivor benefits and 401(K) will leave me in good financial shape. I have no interest in moving to a typical retirement area without friends/family. I expect to age in place at least until DS is settled. Seems reasonable to eventually move nearer to him if he will ultimately be responsible for me when I’m old and decrepit! House is paid for but I may choose to move into a condo where less upkeep will be needed.
I’d be interested in knowing how others feel about this topic. It’s quite difficult to make these decisions alone.
@rutgersmamma wrote
Do you do any volunteer stuff now? If so, I’d just keep doing that when you retire. If not, maybe start now on a low level and then ramp it up if you feel like it when you retire?
I don’t do well when I go from super-busy to nothing to do. I really need external pressures like deadlines and expectations to keep me chugging along mentally. I had three weeks this summer with nothing to do and no expectations (for the first time in decades) and I was like, this sucks! after the first week :).
I think it pays to be discerning and selective when choosing where to spend your time on volunteer work. I’ve jumped into stuff in the past that I came to regret and extracting oneself isn’t always as easy as getting in. A lot of nonprofits are poorly run and managed and I felt I was really spinning my wheels sometimes. The mission might have been good but I had serious liability concerns in one instance. Also, you can have individuals you are interacting with who can make your life frustrating. Limited accountability, little follow through can make for stress I did not want. I might as well have been working if I wanted that much stress!
Take the time to really think about how you want to use your time and in finding organizations that are truly deserving and productive. Volunteer work can be very rewarding if you find a good fit, good organization and a great cause, however.
@rutgersmama Especially if you move to a new area, I can’t think of a better way to meet people and get involved in the community than (jumping into 
) volunteer work. We moved to NC in 2008, and during our first week here I read an article in the local free weekly paper about plans to build a soup kitchen. My son and I showed up at the build site and spent a week with other volunteers building the soup kitchen. It was pretty amazing to go from concrete slab to completed building in one week. Sure, I was asked what church group I was with, and when I replied we were there on our own to help out and meet folks in the community we were welcomed with open arms. My wife still helps out at the soup kitchen and I stop by once a week to pick up meals that I deliver (Meals on wheels type of thing). We got involved off and on in at least 5 different volunteer activities - not all at once, if something appeals we try it out and see if it sticks. Many things require really minimal time, like going to a school and reading to kids. That was 1 hour, once a week, during the school year, ie, very little time/effort, and they treat us like Gold!