[2BNTV]

[QUOTE=Bill-n-Brillo;373117]ALL of the things being mentioned are valid - they're all important: health/appropriate medical care, income/savings to support you, and so on. The risks people are willing to take and what priorities they place on things are where the balances take place. What makes sense for one person might seem completely illogical to someone else.

You can run all the math/spreadsheets and so on for these things but they're all predicated on assumptions: how long will I be in good health, will I need long term care, how long will I live, how much will the cost of living go up over time, should I start taking my social security as soon as I can, will Medicare still be around when I turn 65, etc. I feel the best anybody can do is be pessimistic about things (anticipate you'll live into your 90s, for example, not something like 80) and figure for somewhat of a 'worst-case' scenario (higher than anticipated inflation, for instance). Review and revise your game plan periodically.

Plan around those things and you've done about the best you can do. But most importantly: Enjoy yourself and what you have that is in your life.

Bill

Bill:

Great info. Thanks for saying for I was trying to allude to. I did not eloraborate.

Every situation is different with each person. When I said I take these articles with a grain of salt, I was inferring these type of articles try to lump everyone into a neat category. One size fits all. NOT.

My bad.......
Joe

[GTTPF]

My wife and I retired at 57. Three years ago. We have seen too many people work until they were 65 then got too sick to enjoy retirement or die soon after retirement (very sad). We were in a position to retire so we did. We also started traveling often at a young age so that we would be able to. Too many people wait too long and are not able to travel when they retire as they planned. My heart goes out to them. We suck it up and pay the insurance premiums. We are currently building a home in TV and will be frogs soon. My advise is to live every day like it's your last, leave nothing unsaid to those that you love and have fun! But be sure that you are financially secure enough before you make the plunge.

[GTTPF]

Great post Bill! as usual.

[Doodlegirl]

Two Masters and one Doctorate later I was really tired. I had worked for
some 45 years and was able to make significant change in my field. But
the cost of very long days and nights, speaking, travel, consultive opinions, governmental research, etc,. wore heavily on me. Somewhere I lost the fun!

My Dad was instrumental in suggesting to me it was time. He then 80 asked ... if you "were dying, would you ask for one more day at work, or one more day doing something that felt soft, good, wonderful?"

Of course I worry that my $ will last as long as I, on the other hand, I have
come to understand the life after work is and can be as meaningful.
The Health Insurance issues will be solved relatively soon I hope. Until then,
in Florida, go only to not for profit hospitals!!! And, if the doc doesn't take
Medicare, consider another. I'm really not into a $350.00 bill for someone
to say in ten minutes, "Just do what you are doing".

There are great doctors and hospitals in Central Florida, we just have to find them! I'm new to TV too, surprised at the lack of gerentologists for us, but trying to figure it out. At least we aren't going to be sent out on an ice floe as in some cultures and societies, we simply have to be part of the process of change to make the Health Insurance work for us. I believe that is the landscape ahead of us... the physical well being of these years we have worked so hard, happily, and sometimes with difficulty, to find, TV for instance. When I moved to Florida so very long ago, "we" were then called
the Grey Panthers. Funny to be one of those now if you know what I mean, when I much rather be a kitty cat! Please, this is not a political statement, it
is a social issue...the politico's here scare me. I have never regretted the
retirement at 62...and that was eight happy years ago! I've even had time to read a book or two!

[Yorio]

I retired two days after my 60th Birthday back in 1998. Since then I haven't missed a day of work. I didn't wanted to take even a consulting job as I thought it'll impinge on my freedom as well as not being fair to the consulting company. I was right. Now, with the current situation, my kind of retirement will become more difficult. Unfortunately, retirement advice from professionals are for people in their 30s or 40s as I think they don't have to worry even if their predictions are wrong. For us who will be retiring shortly or already retired, what to do is an urgent matter. I've lost in stocks during the IT bubble and lost again during the financial crisis. Now, current situation, probably again. Hadn't these situations not occurred, I would be sitting pretty but not anymore. My financial adviser tells me to conserve your savings. He told me when I retired that I was a very prudent man and I'll have a great retirement. When he says that I should conserve I tell him that I saved for retirement and I have no intention of skimping again. I won't be extravagant but I won't live like a miser either. What to do if I can't even afford amenity fees in TV and live only on Social Security? Well, I have been saying to my friends that we will either go to India and live like Ghandi or go to the Philippines where costs are still much less expensive. English are understood in those two countries. We don't have to experience the latter if we are Frogged before the money runs out. We are o.k. whichever comes first. This is the only mentality one can have. So, in short, don't wait. Have fun.

[Pturner]

As others have said, we could retire comfortably but for potential health care costs... unless of course we live too long.

But here's a rub. If we were to retire now, we could afford the insurance we could get without pre-existing conditions. If we wait until we have pre-existing conditions, we might not be able to get or might not be able to afford health insurance.

Hubby's worse fear is working until he dies or is not in good enough health to enjoy retirement. Mine is not having enough money.

What Bill said. Assumptions, assumptions.

[Indy-Guy]

This was entered on TOV a while back but perhaps would fit well into this topic

Calculate Your Life Expectancy

This is neat! Be honest, take note, then go back and change the things that you can control and see the difference. It's a real eye opener!

This is a calculator that estimates your life expectancy.
It was developed by Northwestern Mutual Life.
It's interesting that there are only 13 questions.
Yet, they can predict how long you're likely to live .


http://media.nmfn.com/tnetwork/lifespan/

[zcaveman]

Originally Posted by Indy-Guy

This was entered on TOV a while back but perhaps would fit well into this topic

Calculate Your Life Expectancy

This is neat! Be honest, take note, then go back and change the things that you can control and see the difference. It's a real eye opener!

This is a calculator that estimates your life expectancy.
It was developed by Northwestern Mutual Life.
It's interesting that there are only 13 questions.
Yet, they can predict how long you're likely to live .


http://media.nmfn.com/tnetwork/lifespan/

It is an okay quiz. It does not ask if you have cancer or other problems that could reduce your life expenctancy. It does not ask about cancer or other problems in other family members.

Personally I think that the age of 87 that it quoted me is high. I can hope and pray that it is right though!!

[Bill-n-Brillo]

Originally Posted by zcaveman

.....It does not ask if you have cancer or other problems that could reduce your life expenctancy. It does not ask about cancer or other problems in other family members. ......

Good point, z.

And it thinks I'm going to make it to 86??!! Their calculation algorithm must be messed up!! Like you, z, I'll feel lucky if I make it that far in decent health. (and I hope it is "in decent" and not "indecent"...........hee-hee! )

Bill

[2BNTV]

Calculator shows "90" but some of the questions don't fit exacltly.

Z is right as usual as my mother's side all had cancer and all her brothers passed away at 72.

Mom was 93 and dad was 77. Averages out of 85. I am hoping the law of averages works in this case. All we can do is to make an educated guess when planning for our needs.