crylam

This will be Betty's last year to endure the swampy water of the Healthcare Marketplace. Ever since 2011 she has had to put up with the same crap....misinformation, provider lists that are wrong, fewer choices. and higher prices.  In 16 months she will be Medicare-eligible....we can hardly wait. Like last year, there is one company in Arizona offering plans for the individual market through the marketplace. Predictably, prices went up 20%. That included a higher deductible, lower hospital cost coverage and a switch to a different hospital system. Whether her primary care doctor or any of the specialists she sees will be under contract for next year is impossible to know until sometime in January, or too late to do anything about it.  We do qualify for a monthly subsidy from the government that keeps the total affordable, even with the large monthly bump in price. But, this turmoil every year is taking its toll on my wife. With lawmakers in Washington unable to either kill...

What if you eventually want to retire, just not now? You are not there yet. Maybe it is a savings and money issue. Maybe you enjoy your job and the stimulation it gives you. Maybe your responsibilities with your family must be front and center for now. Maybe retirement scares you a bit. That just makes you normal. For whatever reason, you want to remain in the workforce, but would like some suggestions on how to prepare for the day when you are ready. Here are some important concerns: A) Make Your Financial Projections:  Get a paper and pencil, spreadsheet program on your computer, or anything that will help you with the following: What is  your projected income  from now until you retire. Obviously, this is a guess. Your job might disappear tomorrow. But, based on your past situation, you should be able to make an educated guess of what you expect to make from now until you do retire.  What do you expect to receive from  Social Security?  Avoid the "i...

On Web sites FAQs are  Frequently Asked Questions . They are the inquires that occur often enough to be predictable. The questions are followed by short, to-the-point answers that sometimes actually answers the questions. Here are my responses to the most common  satisfying retirement FAQ over the past 6+ years. Each also has a link to a post that deals with that subject in more detail: 1) How much money do I need to retire?  Enough to live comfortably and handle most emergencies. You will probably end up needing more than you think. If you live in Scottsdale, La Jolla, or West Palm Beach, a lot more. Don't believe all the "rules" about how much you have to save or how little you can withdraw each year and not risk running out of money. Life is a constant adjustment to situations. No one can predict what the future will be like or how you will want to live. Stay flexible. But, I will say that the oft-used $1 million figure isn't necessary.  ...

No, it is not the massive increase in ACA premiums for those who must buy on the individual market. Nor is it the similar increase in deductibles and copays for the health insurance that the 80% of us who get coverage through our jobs must face.  No, it is not the consolidation of the industry, where a handful of companies control our options. Nor, is it the immoral increases in life-saving drug costs. No, it is not the inability of our political "leaders" to arrive at a solution that works for those in need. Heavens, they refuse to even talk with each other, preferring threats and slurs instead. Nor  is it the slow acceptance by most of us that our health is primarily dependent on choices we make in diet, exercise, and lifestyle.  The Number One problem with our health care future is.....uncertainty. Retirement is a period in our lives when we welcome many changes, new opportunities, new directions, a new sense of the possible. We take back control of the clock...

One of my brothers is fast approaching decision time about Social Security and Medicare. While visiting him during our just-concluded RV trip, he asked if I would give him an overview of what his choices are. Not only was I glad to do so, but his questions seemed like an excellent topic for this blog. The questions are paraphrases of his concerns: Question 1: " I want to wait until I am 70 to start receiving monthly Social Security checks. Do I have to notify anyone when I reach my full retirement age?"  Answer: You are allowed to sign up for Social Security three months before  you want to start your benefits. Your first check (actually a direct deposit to your bank account) will not arrive until the fourth month, but that is how the system works. This timing applies whether you want to start at the earliest age of 62, full retirement age (66 for most of us), or any time after that. The size of your monthly check depends not only on earning credits built up during y...

......The Affordable Care Act, better known as Obamacare. Now, before you shoot daggers at me, I will add that the system we had before Obamacare was a dismal failure, too. Sick people were denied coverage. Life-saving tests were unaffordable for many. Insurance companies could decide a treatment was not warranted and people would die. Those without employer-provided policies who didn't have any dreaded "pre-existing conditions"  faced back-breaking premiums, deductibles, and limitations. Bankruptcies happened. So, where are we? The unfettered for-profit system prior to 2010 was a train wreck. The ACA is headed to a future where premiums are too expensive to pay because competition has disappeared. Health care companies have figured out they are better off walking away from customers if they are too sick. The fines for not have health coverage are so low that many younger people are better off paying the penalty rather tha...

$825,375. It would nice if I could give you the exact amount of money you need to retire. Achieve that figure and walk away from your job. Stop worrying about the stock market, what the Fed is doing, or who says what in Washington. Hit your number and go. If you type the search phrase,  How Much Money Do I Need To Retire ,  into Google, you will get something in excess of 43 million links to that question or a close variant. Isn't that amazing? A question that is very personable still has 43,000,000 places you can consult. That dollar figure above is probably incorrect for you. The amount of money you need to retire is based on these five factors: What your goals are for your retirement Do you want to spend the first several years traveling the world, visiting your adult kids and grandchildren, remodeling your home, or splurging on the RV you have always dreamed about before settling down? Or, are you really looking forward to staying close to home, being ...