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Thread: FIRE movement article - retire at 30?

  1. #11
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by Molly View Post
    I think one of the big issues in early retirement is how to pay for health care. When you're young, this may not be a concern. Before age 45, I rarely saw a doctor. After that, it was one thing after another. Even with a good health care plan, there were costly deductibles and co-pays.

    One FIRE person said her plan was to live healthy so she wouldn't get sick. Good luck with that. I lead a very healthy lifestyle, yet that did not prevent age related issues.

    Another person said they would crowd fund if they had a large medical bill. Sorry. If I'm going to finance anyone's medical expenses, it will be my own.

    I was very, very fortunate to retire from a government job that offered low cost premiums that held me over until I went on Medicare.

    I don't know how other extreme early retirees deal with the issue of health care. It would be interesting to know.
    Molly,
    Were your low cost health care premiums significantly different from an ACA (Obamacare) insurance plan? Comments on this thread are as though the ACA doesn't exist.I thought it was supposed to be a boon for early retirees.

    My government job didnt have the option to continue health insurance at their group rate after retirement. I was bummed when that option was pulled, about 5 years before I retired. I remember the day this decision was announced at our weekly meeting of administrators. I blurted out “oh crap, that was my ticket outta here!” Hahaha. There I pretty much tipped my hand for my plans to stick around for the long term.

  2. #12
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    Quote Originally Posted by iris lilies View Post
    Molly,
    Were your low cost health care premiums significantly different from an ACA (Obamacare) insurance plan?
    Oh my goodness, yes. That's why I say I was very, very fortunate. However, within a few short years, premiums skyrocketed. I got into Medicare just in time. Many of those pre-medicare retirees today are looking into ACA as a less expensive alternative.

    As for the extreme early retirees, those high deductible plans look good until you have to use them. Young people can probably get away without seeing a doctor for years. But young people eventually become old people. Young people can get in accidents or they can get sick.

    So I wonder how those extreme early retirees deal when a medical crisis strikes?

  3. #13
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    Jacob from Extreme Retirement got bored and went back to work full time. Once I got my second masters and worked doing Vocational testing and career counseling I was totally in love with the job. I got sick of the bureaucracy and the fact that there were 3 evaluators and when 2 retired I was doing the work of 3 people. That got old and I retired at 58. However, for the past 7 years I have been teaching my class and doing consulting. I kept my HI from the state but my premium rose from 400 to 1k/per month. I think not that many people make enough money to retire really young.

  4. #14
    Senior Member bae's Avatar
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    I retired when I was 36, about 20 years ago. So far so good.

  5. #15
    Senior Member dmc's Avatar
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    My wife and I both worked to the ripe old age of 50. I may have been able to go a little sooner, but except for one week were I came back to give my replacement a break, I have not worked for anyone. Well I’m the wife’s handyman, but she doesn’t pay.

    We pay $1550 per month for health insurance. We have been paying for 12 years now, it was maybe 1200 per month back in 2007, so the premiums have been about the same.

    our expenses have gone up quite a bit over the years, but most of that has been our choice. Some of my hobbies are expensive. With the stock market gains this year I took a little more out than usual. We redid the kitchen, and I’m planning on updating the plane.

    My mom passed away when she was 55. She had always been health and lived a healthy lifestyle. But she died early anyway. My dad never went back to work after that. It makes you realize that you don’t know how many days you have.

  6. #16
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    I finished my “main” career at 61 earlier this year, and then took a job running a small nonprofit Corp, which I plan to do until it ceases to be enjoyable.

    I must have been fortunate in my life that I never felt any of my jobs to be the sort of living death people keep alluding to. I like being in a position where I don’t need to work to survive, but I don’t particularly mind doing interesting work to further a mission I believe in.

  7. #17
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    Quote Originally Posted by bae View Post
    I retired when I was 36, about 20 years ago. So far so good.
    How did you do it and how do you keep doing it?

  8. #18
    Senior Member bae's Avatar
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    Quote Originally Posted by Molly View Post
    How did you do it and how do you keep doing it?
    I amassed sufficient capital to live off the earnings, a la "Your Money Or Your Life". Then invested pretty boringly and lived below my means more-or-less.

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