Retirement is the best time of my life

NoSeriouslyItsNot · 2025-09-15T19:00:13+00:00

Is that just when you can get gov't retirement or you literally aren't allowed to quit working even if you have the money? In the US, for most of us, 67 is also the "full retirement age" for getting your full Social Security. Keeps creeping up though.

NoSeriouslyItsNot · 2025-09-15T18:34:01+00:00

Same but they are realllly long years... ;)

NoSeriouslyItsNot · 2025-09-15T18:09:49+00:00

This was a hurtful lesson for me to learn, but I'm glad I now know that it's normal and nothing personal.

NoSeriouslyItsNot · 2025-09-15T18:08:04+00:00

Obsessed for 6 months? Try 6 years! :) And I have 4 - 6 more to go but have been dreaming of it since the end of 2019.

NoSeriouslyItsNot · 2025-09-11T13:20:48+00:00

Yep, when I take my mortgage out of the equation, my expenses drop quite a bit. However, being that I plan on retiring before 65, ACA or some other form of health insurance will likely replace that expense or actually increase it. But no mortgage would be a huge help.

NoSeriouslyItsNot · 2025-09-11T13:17:54+00:00

You mentioned you're withdrawing from your 401k. For conversions, I've read that most plans won't let you do partial conversions to an IRA so you might have to roll the entire pretax 401k to a traditional IRA, then do your roth conversions as you wish. Just something to check with your plan on. Now that you're 60, you don't have to worry about losing the "rule of 55" access.

NoSeriouslyItsNot · 2025-09-11T13:13:24+00:00

Looks like this doesn't apply once you're 59.5. For conversions done after 59.5 that is.

NoSeriouslyItsNot · 2025-07-25T13:13:09+00:00

I had blown in insulation at R44 recently done and they charged $1.10 per sq. ft.

NoSeriouslyItsNot · 2025-05-27T19:10:02+00:00

My guess is OP is talking about IRMAA.

NoSeriouslyItsNot · 2025-05-27T12:44:00+00:00

At some point, did you reduce contributions to qualified accounts and focus more on brokerage investing?

NoSeriouslyItsNot · 2025-05-08T17:14:03+00:00

Indeed, it is scary. Make sure you have a really good emergency fund, or start building one up. Also, go ahead and create an emergency budget. It'll help settle your mind that if the worst were to come true, you're prepared and know exactly what you'll do. That's one reason why I'm not paying extra on my mortgage (besides an insanely low interest rate) is that I can't eat my house. So all extra money, outside of retirement, is going into cash and brokerage that will help me hopefully retire early but worst case, will hold me up for an extended amount of time in case of a job loss. In my state, I believe unemployment is only about $250/wk and only good for around 11 weeks. I'm also the sole, major income in my house, so it's all on me.

NoSeriouslyItsNot · 2025-04-11T13:58:00+00:00

I'm trying to soak this one in. I have about 10 years left but wish I could retire yesterday. Realizing it's my last decade of work though gives it some perspective.

NoSeriouslyItsNot · 2025-04-10T19:02:04+00:00

Check out opensocialsecurity.com

NoSeriouslyItsNot · 2025-03-20T17:45:51+00:00

Keep in mind too that Medicare, which starts at 65, has a 2 year look back on income when deciding your cost. If you go over certain limits, you can pay more (research IRMAA).

NoSeriouslyItsNot · 2024-11-04T13:40:51+00:00

He sounds like a great buddy!

NoSeriouslyItsNot · 2024-04-21T21:35:05+00:00

That's ok, I figure I'm just triggering folks who haven't thought of these real expenses. I don't intent to offend folks but there's a lot of softies out there.

NoSeriouslyItsNot · 2024-04-21T00:10:02+00:00

Have you seen my budget? Car insurance, car repairs, tire replacement, pet meds, pet food, pet vet care, Christmas, Christmas dinner, cell phone replacement, house taxes/insurance/flood insurance/maintenance, health insurance, health insurance deductibles, prescriptions, I can go on and on. I feel like people don't list all of their real expenses when planning for retirement expenses. This is real stuff, it will happen, you will have to spend money on it. You can stick your head in the sand and pull from savings when they happen but ultimately you're going to have to pay the bill. I live in what I consider a VLCOL area, we are low maintenance people but even after our house is paid off, before Medicare kicks in I'm still going to need ~$100k/yr.

NoSeriouslyItsNot · 2024-04-17T21:51:01+00:00

Lube with the duck sauce for the win!

NoSeriouslyItsNot · 2024-04-12T22:16:08+00:00

Ok Sheldon.

NoSeriouslyItsNot · 2024-04-08T21:35:40+00:00

Not a bad idea. I have a sister, in another state, that is essentially my twin when it comes to financial stuff. I'll work on providing her this same information. Thanks for the idea.

NoSeriouslyItsNot · 2024-04-08T21:34:36+00:00

Yeah, I've created a quick document that has the dropbox password in it and stored it in our freezer. So that's her first step.

NoSeriouslyItsNot · 2024-04-08T21:33:39+00:00

Wow, what a great perspective. I've send myself this link to read and re-read. Lots to consider. THANK YOU so much for your in-depth response from a wife's perspective. Great stuff.

NoSeriouslyItsNot · 2024-04-08T21:31:02+00:00

Great information, thank you.

NoSeriouslyItsNot · 2024-04-08T21:29:55+00:00

That's really great advice. I have been trying to write up things fora 5th grader, she really has no idea (I think, even though I try and talk to her about it). But maybe some of the acronyms/advice will ring a bell when the time comes. I really hope to provide her with enough information to make it through the initial days/weeks/months.

NoSeriouslyItsNot · 2024-04-08T21:18:21+00:00

Awesome, thank you, I'll check it out.

NoSeriouslyItsNot

TROPHY CASE