re: Here’s What a $2 Million Retirement Looks Like in America

These folks just blow money good lord

Spending $10,000 a month

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Health insurance will be the kicker for me to be able to retire early

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That is my biggest question mark. I want to retire at 60. I could probably retire now if I really wanted to, but my biggest hesitation of all is health insurance costs.

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I could probably retire now if I really wanted to, but my biggest hesitation of all is health insurance costs.

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Have you checked the open market to see what would be available to you? Looked into a part-time gig just for benefits?
I am at least 10-12 years from considering retiring, and probably 15-18 from actually retiring; but that's where my mind goes when thinking about what I'll do about health insurance when I do retire.

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But, if you plan to do some serious traveling, play more golf, join clubs, volunteer more....; you will most likely be somewhere between what you make now vs your current spending less mortgage, savings...

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Agreed and basically what I echoed yesterday. The only reason we don't eat out more, travel more, etc., is because from M-F we are working all day and pretty exhausted at night and have to wake up/keep up with the grind.

Once I truly have no work obligations, I would imagine that discretionary spending is going to go up for us, not down.

So even if taxes and other home expenses are lower, for us - I don't feel comfortable with any less than 100% to start.

I do think as we age, however, that discretionary spending will go down.

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My dad did. My mother-in-law did. My father-in-law is currently on that track. My wife will almost certainly do that as well.


I can assure you that I will not. I'll be fishing somewhere.

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My dad took a year off of work around 55-56 but he never went back

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Have you looked at what it will cost under ACA? How many years until Medicare. If you plan correctly (i.e. control your taxable income), you can get ACA plans pretty cheap.

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I'm going to troll you. After the "affordable care act" my premiums quadrupled.

Obama said I would get a reduction.

That was a lie, what you said, is also a lie and you should be shamed.

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Have you looked at what it will cost under ACA? How many years until Medicare. If you plan correctly (i.e. control your taxable income), you can get ACA plans pretty cheap

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Yep, thanks. Actually that was my plan initially. I’d be able to (legally) “manage” my taxable income next year and for the next several years. So a broker found a plan that was quite comparable to what I have with my current employer and it was reasonable. I was happy. But as el Gaucho repeatedly tells us, we’re not meant to stay happy.

Foolish me made that plan before I decided to get married next year… shortly after I retire early. Her income throws my plan way out of whack. And I can’t (legally) manage her income the way I can mine - and I can’t get on her plan. The broker told me that we could file “married filing separately” and I’d still be OK. But on my own, I’m finding that apparently not to be the case. Now I’m investigating one of the sharing ministries. Probably CHCM. I’m somewhat familiar with them. I just need to make several preliminary deals with my doctor and the local hospital. Probably look at some sort of catastrophic health coverage too. Healthcare coverage has to be the biggest racket I’ve ever seen… and I’m ashamed to say, I’ve seen more than a few.

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I'm going to troll you. After the "affordable care act" my premiums quadrupled.

Obama said I would get a reduction.

That was a lie, what you said, is also a lie and you should be shamed.

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Shame on you for telling your truth.

Don't you know that the Afforfable Care Act was designed so that wealthy retirees who can manage their income will have American schleps, who already struggle with inflated premiums and deductibles, supplement the most expensive type of health care in the world? (Old people health care)

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If I retire at 65 and I have $500k. I can divide that by 20 (5%) - take it out to my 85th birthday. Even doing that, the residual will be all the money the principal makes (CD/bond interest, dividends, or whatever) during the 20 years.

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Not sure what you're getting at, 5% of 500k is only $25,000/yr. Even with SS benefits included, that still ain't much. If you're planning on earning a 5% rate of return on top of consuming 5% of principle, that will dwindle fairly quickly while inflation goes the other way.