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 > Who Else Will Retire To Full-time In 2018?

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TechWriter

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Posted: 12/22/17 01:44pm Link  |  Quote  |  Print  |  Notify Moderator

DallasSteve wrote:


10 - Since I'm in good health I'll probably buy cheap non-ACA health insurance until I qualify for Medicare at 65

Just to be sure, get a thorough check up and blood work before you start. My wife was in good health, too, before she got cancer.

Your "cheap" heath insurance should be as "portable" as possible -- that is, you can use it in any state, not just TX. Typically, that means a PPO plan which, I believe, are rare in TX.


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John&Joey

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Posted: 12/22/17 04:41pm Link  |  Quote  |  Print  |  Notify Moderator

DallasSteve wrote:

John&Joey wrote:

Just wondering did you factor in inflation? Been pretty low for awhile, but that's what killed my F&MIL after 10-15 years of their retirement.

Social Security payments get an annual cost of living increase based on the amount of inflation, so I will stay at about the same level of real income. The increase is not perfect and it's not a lot (in 2017 it was 0, in 2018 it is about 2%). But currently it can also get eaten up by Medicare premium increases. Maybe that is where your in-laws got wrecked, I don't know.


No inflation is what wrecked them. SS and how they figure your COLA is a far cry from the real world. It was a slow downward spiral for them, then an expected event would happen like needing a new roof, furnace, or car repair. The credit card would get hit up, and then the interest rates would start delivering the killing blows.

Needless to say family helped where and when we could. The biggest help was a family member doing a personal reverse mortgage for them since they owned their home. He picked up the yearly taxes, did major repairs, gave them a monthly payment, and allowed them to live there rent free till they no longer could.

Sourdough Biscuits

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Posted: 12/22/17 11:23pm Link  |  Quote  |  Print  |  Notify Moderator

Steve,

The way I read it, you wanted more "sharing" of others going FT in 2018 rather than a critique of yours. So, here's MY submission:

*Retired for 8 1/2 years already, but DO plan to FT beginning in 2018. We will spend most of the summer in Alaska, playing music and saying farewell to friends.

*Our plans for through about April of 2018 are already mapped out. After that... it's "free form".

*We've spent almost two years downsizing. Selling practically EVERYTHING. Keeping no furniture, no clothing, no kitchen stuff, etc. Just a few boxes of taxes and personal momentos with family.

*We've done several trips of 3-7 months, so we kind of have our routine.

*Only YOU will know if $3K is "enough". For some, that's a fortune. For others, it's poverty level. [emoticon]

*We don't plan on owning winter clothing anymore. (You have to understand that our SUMMER/Fall jackets in Alaska may work for WINTER in some areas.)

*Don't plan to work again. Maybe as a park host, but only after a few years of exploring. And, would be in areas where we want to hike, explore or something. State, National or local park. Hosting seems a lot like work too.

*Music Festivals (mostly bluegrass), National Parks, roller coasters, caverns, museums, wineries, farms/farmer's markets.... that's our future for the next several years.

*Don't plan to have a "home base". True nomads. Traveling to places above. Plan 1-6 months ahead to the next "event".

Happy Trails!

Bob

PS We probably won't hit TX until 2019. [emoticon]

FunnyCamper

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Posted: 12/23/17 06:18am Link  |  Quote  |  Print  |  Notify Moderator

Go for it! Your plan sounds fine and it seems you sure know enough to make it work for you and not against you [emoticon]

We are semi-retiring in June 2018. Hubby will work Jan to June and then quit whatever small job he gets to entertain himself...and we will have June to Jan. to travel more BUT THE thing for us is a kid in school [emoticon] 12 yr old. She wants to stay in school and finish in this school system so we have about 6 yrs to 'stay put' before total freedom.

But we are going to travel more from June to end of Dec. and take her out of school for longer trips as needed thru this time. It is time to put in more travel with her before she is off and moving on her own.

Hubby is 52 and I am 56 and we have enough money to make it all work for us now so we are going for it sooner than later.

We are COE, state park people, we don't do more expensive private cgs cause they just aren't what we enjoy so we know how to cut costs for rv'ing definitely and we have no problems stopping at truck stops for '4-5 hrs' sleep for free while traveling, we have done it alot and will continue to do just that. We are frugal and can pinch a penny also [emoticon] [emoticon]

If you can make it work for you then definitely move forward. Life is a monster adventure to attack and find what works for you [emoticon] Best of luck and report back and update us on your ventures and how it is going for you!

Quartermoon

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Posted: 12/24/17 08:21am Link  |  Quote  |  Print  |  Notify Moderator

DallasSteve wrote:


10 - Since I'm in good health I'll probably buy cheap non-ACA health insurance until I qualify for Medicare at 65


Since you're in good health, look into Christian Health Ministries. Plans start at $45/month and go to about $300/month. It's not insurance, it's a safety net for catastrophic incidents. It's also ACA-compliant for income tax purposes, although that doesn't matter with the new GOP tax reform plan.

1 - I'm 61, hubby 60. Just sold our business and gave the money to our investment guy.
2 - Currently have a fifth wheel and truck we're making payments on. Very much undecided on what we want in the future. Going to every RV show to shop!
3 - Don't plan for either of us to take SS until full retirement age. Between all our investments and retirement accounts we are on track for $5,000/month income in retirement. Plus whatever we might earn doing part-time or side jobs.
4 - No specific full-time-launch date set. Will work - at least part time somewhere - until full retirement age.
5 - Would like to travel and visit friends. No kids.
6 - Someday we'll settle back down. Could be a year, could be 10 years. Who knows.

I like that you have a plan. Any plan. Plans can be updated, but it's always best to know which way to point in order to move forward.


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TechWriter

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Posted: 12/24/17 12:20pm Link  |  Quote  |  Print  |  Notify Moderator

Quartermoon wrote:

It's also ACA-compliant for income tax purposes, although that doesn't matter with the new GOP tax reform plan.

IRS Requires Proof of Health Insurance

Walaby

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Posted: 12/24/17 12:58pm Link  |  Quote  |  Print  |  Notify Moderator

TechWriter wrote:

Quartermoon wrote:

It's also ACA-compliant for income tax purposes, although that doesn't matter with the new GOP tax reform plan.

IRS Requires Proof of Health Insurance

Believe Quartermoon was talking about in the FUTURE now that the Tax plan has passed. Your article was from back in Oct before the new tax overhaul came into being.

Mike


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DallasSteve

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Posted: 12/24/17 06:23pm Link  |  Quote  |  Print  |  Notify Moderator

Walaby wrote:

TechWriter wrote:

Quartermoon wrote:

It's also ACA-compliant for income tax purposes, although that doesn't matter with the new GOP tax reform plan.

IRS Requires Proof of Health Insurance

Believe Quartermoon was talking about in the FUTURE now that the Tax plan has passed. Your article was from back in Oct before the new tax overhaul came into being.

Mike


2X

The news reports (and The President) say that the new law eliminates the tax penalty as of 2018, but the IRS may require the proof or insurance or lack thereof for recordkeeping purposes until they change the forms again.

Quartermoon

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Posted: 12/26/17 12:01pm Link  |  Quote  |  Print  |  Notify Moderator

DallasSteve wrote:

Walaby wrote:

TechWriter wrote:

Quartermoon wrote:

It's also ACA-compliant for income tax purposes, although that doesn't matter with the new GOP tax reform plan.

IRS Requires Proof of Health Insurance

Believe Quartermoon was talking about in the FUTURE now that the Tax plan has passed. Your article was from back in Oct before the new tax overhaul came into being.

Mike


2X

The news reports (and The President) say that the new law eliminates the tax penalty as of 2018, but the IRS may require the proof or insurance or lack thereof for recordkeeping purposes until they change the forms again.


I believe it was compliant before that. It was one of 3 health-sharing plans grandfathered in. Not sure what paperwork is involved (that's what my CPA is for). A moot point now.

But if you're reasonably healthy, it makes sense rather than pay for a $5,000-deductible insurance policy.

packnrat

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Posted: 12/31/17 10:15pm Link  |  Quote  |  Print  |  Notify Moderator

drat. not this year, 8 more to go.


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