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Its too cold here to enjoy outside and the coffee is double kicker this morning. Perhaps I should just return to doing the laundry. But, I did read most of this article, and there are good points to help qualified folks along and to the retirement path, early or not. I did look further into some of the notes from the article shown next and placed a few thoughts below.
Step 4: Paying for health care (From the article)
Early retirees deal with the issue of health insurance in a variety of ways. Individual costs will vary widely, depending on the situation. Certainly, the availability of health insurance in the U.S., thanks to the Affordable Care Act, has made it easier for individuals to quit jobs they might otherwise have kept for the health insurance.
Mr. Money Mustache, the popular blogger and early retiree based in Colorado, said last year that he relies on a low-cost, high-deductible health plan purchased on the individual market. The plan costs about $275 a month to cover his wife, son and himself. Should that plan expire, he said he would switch to a bronze plan, available via his state’s health exchange under Obamacare.
>>> The above information appears to be pulled from the Mr. Money Mustache blog written in November of 2012. Based upon other writing from the blog, the parents were 38 years old with a 6 year old son in 2012. I have not and won't take the time to find current rates in Colorado for healthcare coverage, but suspect the numbers today may be a tad higher, eh? I do know a current BCBS Bronze plan for a child only, in Michigan, is about $140/month with about a $6,700 deductible before the insurance kicks into place.
Related to other areas of the article: Yes, do keep track of where your "net" income travels on a daily basis, at least for a few years. This will help establish good spending habits. The young couples, many with kids; each adult spending $5 a day during the business on a blaster cup of special coffee coughs up $2,600 a year for that pleasure. We've had the pleasure of helping several married couples over the years get their spending habits out of a "hell hole".
I suspect the retire early doesn't apply to many folks/couples. But, tis a nice fantasy dream for many. Heck, there are enough retired in our state who have their children and/or married in-laws and grandchildren living with them because of adequate employment/income status. This surely changes a few plans. If the children are not living with them, their are enough retired adults who need to help support their children monetarily.
I wish the very best to those who believe they are ready and able for whatever early retirement may be for them; and that they have and do continue to plan properly.
I really need to operate the snowblower to clear the driveway and such. My mental state is not to that task at this time.
Comments
I did look further into some of the notes from the article shown next and placed a few thoughts below.
Step 4: Paying for health care (From the article)
Early retirees deal with the issue of health insurance in a variety of ways. Individual costs will vary widely, depending on the situation. Certainly, the availability of health insurance in the U.S., thanks to the Affordable Care Act, has made it easier for individuals to quit jobs they might otherwise have kept for the health insurance.
Mr. Money Mustache, the popular blogger and early retiree based in Colorado, said last year that he relies on a low-cost, high-deductible health plan purchased on the individual market. The plan costs about $275 a month to cover his wife, son and himself. Should that plan expire, he said he would switch to a bronze plan, available via his state’s health exchange under Obamacare.
>>> The above information appears to be pulled from the Mr. Money Mustache blog written in November of 2012. Based upon other writing from the blog, the parents were 38 years old with a 6 year old son in 2012. I have not and won't take the time to find current rates in Colorado for healthcare coverage, but suspect the numbers today may be a tad higher, eh? I do know a current BCBS Bronze plan for a child only, in Michigan, is about $140/month with about a $6,700 deductible before the insurance kicks into place.
Related to other areas of the article: Yes, do keep track of where your "net" income travels on a daily basis, at least for a few years. This will help establish good spending habits. The young couples, many with kids; each adult spending $5 a day during the business on a blaster cup of special coffee coughs up $2,600 a year for that pleasure. We've had the pleasure of helping several married couples over the years get their spending habits out of a "hell hole".
I suspect the retire early doesn't apply to many folks/couples. But, tis a nice fantasy dream for many. Heck, there are enough retired in our state who have their children and/or married in-laws and grandchildren living with them because of adequate employment/income status. This surely changes a few plans. If the children are not living with them, their are enough retired adults who need to help support their children monetarily.
I wish the very best to those who believe they are ready and able for whatever early retirement may be for them; and that they have and do continue to plan properly.
I really need to operate the snowblower to clear the driveway and such. My mental state is not to that task at this time.
Take care,
Catch