How the hell are we supposed to retire?

Bike N Gear said:
Our CFA plans for the Go Go years, the Slow Go years and then the No Go years. Says most people tend to spend more than their former income for the years just after retirement due to traveling much more while they still can. This all slows as they age. Based on seeing what both of our parents did this seems to be reality.
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This seems to be pretty reasonable to me as well. You're just not going to go on that Hike to Machu Picchu when you're 84 years old. I mean maybe you can, but that's like a 1% reality. I guess a lot of people in that age bracket start doing cruises so there's a counterpoint to that argument. But I think it's pretty valid that you're going to do more and spend more in the 10 years immediately after you retire.
 
Bike N Gear said:
Our CFA plans for the Go Go years, the Slow Go years and then the No Go years. Says most people tend to spend more than their former income for the years just after retirement due to traveling much more while they still can. This all slows as they age. Based on seeing what both of our parents did this seems to be reality.

We lost the majority of the NYC commuting and dining expenses during Covid when my wife switched to WFH. Not sure I really noticed any excess in spending money though I know my wife's dry cleaner took a huge hit.

The biggest cost savings for us could be moving out of NJ. Our son is 5 hours away but I don't see my wife ever wanting to be any further away.
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Understand. I really like NJ I live in SJ shore community so the kids and grandkids come to visit a lot in the summer months to go to the beach. Also the Stay NJ Act cut property taxes by 50% so that makes it a little more affordable.
 
Norm said:
This seems to be pretty reasonable to me as well. You're just not going to go on that Hike to Machu Picchu when you're 84 years old. I mean maybe you can, but that's like a 1% reality. I guess a lot of people in that age bracket start doing cruises so there's a counterpoint to that argument. But I think it's pretty valid that you're going to do more and spend more in the 10 years immediately after you retire.
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My parents are 76 and have latched on to the European river cruise market and are just finishing up a trip a trip from Romania to Austria. While I am not a cruise type person, seems to be a good way to see these cities but not be worn out as much from traveling between cities through other means.
 
stb222 said:
My parents are 76 and have latched on to the European river cruise market and are just finishing up a trip a trip from Romania to Austria. While I am not a cruise type person, seems to be a good way to see these cities but not be worn out as much from traveling between cities through other means.
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Did a river cruise 2 years ago they are nice way to see different places and learn their culture. Planning one in late spring 2026.
 
I was searching for some 401k info in my emails at work and when we were looking at different 401k providers someone asked us to look at their family member that worked at some company. Leaving out the person/company info, I found these fees hilarious. Obviously we did not go with them.

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Want to hear some crazy screaming? CFP was supposed to move about 50% of wife’s portfolio. Their assistant mistakenly sold most of it. Good to know they’ll answer a phone call on a holiday. Not sure if they were able to reverse all the transactions by the 31st so they might be writing us a big check to cover the capital gains tax. What’s funny is that she only uses the CFP because she doesn’t trust that I won’t make a stupid mistake and cost us money.
 
Santapez said:
I was searching for some 401k info in my emails at work and when we were looking at different 401k providers someone asked us to look at their family member that worked at some company. Leaving out the person/company info, I found these fees hilarious. Obviously we did not go with them.

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Our 457 plan was about a third of this cost and I still bitched about it every year when they came around to meet new employees. But it was the only choice for a tax-deferred plan and it still did well if you chose the right funds. The week after I retired I rolled the entire account over to a Vanguard IRA with a tenth of the cost and more fund choices. Dickhead insurance salesman.
 
roc said:
My wife's plan (Horizon Omnia Gold) just went up 45%. Unreal!
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My wife and I had a gold level Aetna plan last year that was $1684/month. Aetna pulled out of the NJ marketplace, so this year we now have the Horizon Omnia Silver plan, and it's $1753. The Horizon Omnia Gold plan would be $2323. Not apples to apples obviously.
 
John the Plumber said:
We need Bernie's Medicare for all. Why should a company profit off someone's health whether good or bad.
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where do we draw the line?

Does Stryker get to make money?
Nyco?

The argument has always been efficiency in a for-profit insurance co, and negotiated rates on the Medicare side (largest payer sets the base rate??.)
only problem is they aren't really competing??
are hospitals competing? are insurance companies?
what if I said 2.5% of your insurance bill goes to pay for medical malpractice?
Could be up to 10% for fraud - now there is a place where agents could be deployed for the greater good.
(both were asked of Gemini, do your own research)
Oh, and the same insurance companies insure the drs and hospitals.

It is going to get worse with DNA testing. It will need to be reworked -
no doubt they are DNA testing babies now (conspiracy theory) just like they said on the x-files.

A long time ago, Hillary was first lady and said she would try to find the solution that works for all. Crickets.
I bet the PAC money is outrageous - politicians are not incentivized to solve it.

I can't believe I gotta pay for all of you hucking/crashing your bikes off shit and not having a video for me to watch! 😀
 
John the Plumber said:
We need Bernie's Medicare for all. Why should a company profit off someone's health whether good or bad.
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A company doesn't profit off of someone's health, but their healthcare. This is a huge distinction. The majority of healthcare costs are for self-inflicted chronic illnesses --think type 2 diabetes and obesity. At least when I crash my bike off shit I was trying to not use healthcare.
So long as we can collectively steer ourselves into chronic illness and use the moral hazard to escape the financial cost, this will continue. We need healthcare without moral hazard.
 
Patrick said:
where do we draw the line?

Does Stryker get to make money?
Nyco?

The argument has always been efficiency in a for-profit insurance co, and negotiated rates on the Medicare side (largest payer sets the base rate??.)
only problem is they aren't really competing??
are hospitals competing? are insurance companies?
what if I said 2.5% of your insurance bill goes to pay for medical malpractice?
Could be up to 10% for fraud - now there is a place where agents could be deployed for the greater good.
(both were asked of Gemini, do your own research)
Oh, and the same insurance companies insure the drs and hospitals.

It is going to get worse with DNA testing. It will need to be reworked -
no doubt they are DNA testing babies now (conspiracy theory) just like they said on the x-files.

A long time ago, Hillary was first lady and said she would try to find the solution that works for all. Crickets.
I bet the PAC money is outrageous - politicians are not incentivized to solve it.

I can't believe I gotta pay for all of you hucking/crashing your bikes off shit and not having a video for me to watch! 😀
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Back before 1973 Blue Cross/ Blue Shield of NJ was not for profit insurance. When the HMO Act of 1973 was introduced, it was supposed to be a cheap alternative from employer base insurance. This is when insurance started to be for profit. If we can keep giving the billionaires, top 1% and multi-national all these tax breaks we should be able to figure away to fix health insurance. Now with AI the machine will be refusing you and me care, instead of doctors. More people will die or will there be more people like Luigi. Not saying this is right, just like the movie John Q. with Denzel Washington.
 
JimN said:
My wife and I had a gold level Aetna plan last year that was $1684/month. Aetna pulled out of the NJ marketplace, so this year we now have the Horizon Omnia Silver plan, and it's $1753. The Horizon Omnia Gold plan would be $2323. Not apples to apples obviously.
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You know you have to have it, but other than 1 yearly visit to her doc, that is all she uses. We are paying 20K, just in case of a trip to the hospital, or god forbid something terrible. Thankfully, her premium is a little less than your wife's. Maybe she has Silver? Still a lot of money!

But, whatever, we will pay. There is no other option.
 
roc said:
You know you have to have it, but other than 1 yearly visit to her doc, that is all she uses. We are paying 20K, just in case of a trip to the hospital, or god forbid something terrible. Thankfully, her premium is a little less than your wife's. Maybe she has Silver? Still a lot of money!

But, whatever, we will pay. There is no other option.
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Our current health insurance system is totally broken without a doubt. I have numerous horror stories from when I spent over a year being treated. UHC paid out millions of dollars for my treatment to RWJH. As a very healthy 43 year old who was suddenly diagnosed with leukemia this was an eye opening experience. With both me and my wife retiring early, it seems like I'm about to pay it all back in premiums for the next 5 years.
 
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