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The Water Cooler
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<blockquote data-quote="dennishoddy" data-source="post: 4268958" data-attributes="member: 5412"><p>Health insurance is a huge detriment to early retirement even if you have a substantial retirement nest egg.</p><p>Above a certain level of retirement income, obama care, (you can keep your plan, and keep your doctor, the average family will save $2500 a year <img class="smilie smilie--emoji" loading="lazy" alt="🖕" title="🖕" src="https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f595.png" />) the cost of medical insurance is horrible.</p><p>My wife retired three years early. The cheapest obamacare we could get was $1100 a month with a $10,000 deductible. Basically, catastrophic insurance, not health insurance. </p><p>$12,000 a year with up to $10,000 medical expenses isn't chump change. </p><p>Yet we have friends that retired early, took a cash payout, put it under the mattress and get free obama care because their income indicates they only live on SS. </p><p>That path takes one into spending down the retirement nest egg with Social Security insolvency looming which is another issue. </p><p>Choose your path wisely.</p></blockquote><p></p>
[QUOTE="dennishoddy, post: 4268958, member: 5412"] Health insurance is a huge detriment to early retirement even if you have a substantial retirement nest egg. Above a certain level of retirement income, obama care, (you can keep your plan, and keep your doctor, the average family will save $2500 a year 🖕) the cost of medical insurance is horrible. My wife retired three years early. The cheapest obamacare we could get was $1100 a month with a $10,000 deductible. Basically, catastrophic insurance, not health insurance. $12,000 a year with up to $10,000 medical expenses isn't chump change. Yet we have friends that retired early, took a cash payout, put it under the mattress and get free obama care because their income indicates they only live on SS. That path takes one into spending down the retirement nest egg with Social Security insolvency looming which is another issue. Choose your path wisely. [/QUOTE]
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