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I just checked out the tool, says it includes an estimated 3%inflation rate.
in general you should always roll over to an ira. If you move it to new 403b your choices of investments will be limited by new plan. In ira you can choose anything you like.
right. That is why I mentioned the early retirement of before 50. Unless you have a massive retirement umbrella nest egg, the math of 72t is very tricky to make work for any real income for that extreme length of time.
Just off the top of my head, I would think that the combination of taxes, filing fees, etc etc (all expenses of running a business with an employee) would be too much to offset the healthcare savings. But I'm sure the answer will vary greatly depending on your state.
Never, ever, ever roll over a 401/403 from an old job to a new one. Being restricted on your investment options as NR mentions is bad enough, but even if you like the funds, the fees on the average 403(b) plan are the real killer. My wife's plan's administrator charges ~1.25% annually, literally five times as much as the virtually identical Vanguard mutual funds that sit in my rollover IRA.
before you can receive benefits, most insurance companies make you go through paperwork and a check up to make sure you don't enter the plan with a huge expense already expected.
Well yes if you don't die between the time you need something major and the next open enrollment period.
It has gotten complicated. In the past couple of years Obama care added in a rule to protect against this happening but there are still some holes in it depending upon how you get your plan.
Ah, open enrollment. How often is that? Hypothetically speaking, let's say your doc says you need this procedure asap and you don't have insurance. What are your options? Emergency room?
I am far from an expert on the fine print but don't these companies have what they term a Pre Existing Condition Exclusion Period which protect them against very recent conditions trying to be covered by force? I think all companies are required to cover any condition older than 6 months but I have read they have wiggle room under that period.
I don't understand it well either but I can tell you what you described above is exactly what my parents have. Medicare plus a compliment to get full coverage.
Trying to remember...you weren't planning on retiring early, right?I just checked out the tool, says it includes an estimated 3%inflation rate.
If we just invest like we have been, once we add social security and use 4.5% return, the calculator says we'll have 110% of our current income in retirement.
I should add that since I do my parents bills, I know what the supplement costs them. They each pay $154 per month, so roughly about $3700 a year to get them both great coverage (from what I can see doing the bills).
I will ask if I remember but if memory serves they have a low co-pay, something like $5 a visit.
Was thinking more for the drugs I'll need. So that $3700 is for the both of them? So we're talking like $2k out of pocket once you hit 65. Not too shabby.
$154 a month each.
Sort of - retire from the army this spring, plan to retire from the next job around 60/62.
Once a year for coverage to begin between Jan 1 and Mar 15 as I recall. There are exemptions for life status changes. Simplest would be to move to a different state or job change.
My understanding is that if I break my leg today, if I enroll today for coverage effective January 15th, I'll can get treated on January 15th. Works great for cancer and pregnancy, not so good for a heart attack or getting shot.
yeah, like I said earlier it is complicated to me as I don't quite understand who the rule pertains to, or when.
That might be a group plan, but most early retirees would be looking at an ACA market plan, assuming any exist that could be purchase at that time.
It's about 60%of the Medicare population with a secondary policy. Most of these policies cover all prescription co-pays but there are bare bones cheap secondary plans that still have you paying for some of the drug costs.
The secondary policies seem pretty cheap as well and medicare being cheap in general, you're really only looking at like 4 or 5 grand in premiums.
Yeah, humor me too. What was wrong with his post? The bennies were so superior that I did leave the private sector for the govt job. Cash payout for all sick time not used, really great cheap insurance,1/2 health care paid for in retirement, pension. When you factor in all the bennies that you don't know even exist because it sounds so ridiculous, it's a no brainer. Yeah most private sector employees have no idea what is available in the public sector.
Like I said earlier, most people have no idea what they are doing when they are planning early retirement. Ex. a supervisor filed for retirement after 30 years. She failed miserably. She stupidly converted the pension to a 401K (that was the dumbest thing ever) and blew the cash. Yeah, she is now back working elsewhere (now in private sector) and working harder than if she had stayed where she was.Having to account for those obscene healthcare costs is mind bottling
Well, for one I'm a engineering supervisor and I make about 40k less than what my equivalent makes in private. Hell that doesn't even account for oil jobs. So saying there is no pay gap is bs. As a supervisor it is impossible to hire qualified experienced engineers. I've hired 10 people in three years and only one had 2+ years experience with the rest fresh out of college. And the reason is because I can't compete salary wise for experienced engineers. You make it worse by stripping some of the benefits you might as well forget about the dod having any engineers.
Your post is correct. I did what you are referring to over a decade ago. We recently did a salary survey, which did not factor our pensions into the equation and now I make almost the same as someone in the private sector who has nothing close to the bennies I have.
Yes I do, but this is not the space for it. If @James Daulton wants to start his own thread then fine.
somewhere else, Load. 
