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Originally Posted by Craig Vernon
Believe me these financial people as coach put it are killjoys and there analysis is never guaranteed as we both know. My situation is a bit more interesting in that if I do not lock in what I have by December 2021 then I must wait three more years contractually. In June of 2022 everything is on the table for negotiation and could change in a potentially negative way. Example, lose any subsidized medical coverage for retirees and spouse.
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To be able to lock in medical coverage under a contract is extremely valuable. Medical coverage costs continue to increase obscenely, so trying to find your own interim plan while you wait for Medicare could get really expensive.
If there is a pension, you will have different options on how to take it, including choices of various percentages of survivorship or without survivorship.
There are so many things to consider when retiring relatively young. We did after planning things based on both our jobs and benefits, and retirement accounts, and savings. Getting yourself debt-free before retirement is hugely helpful. We were 55 and almost 58. The deciding factor was that we each had access to medical coverage at a reasonable cost from our former employment. He retired first, then me. It worked out fine. Medical coverage is a big deal.
You'll figure it out. Best of luck.
Boomer