(Topic ID: 223399)

I'm thinking about retiring

By o-din

5 years ago


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  • 164 Pinsiders participating
  • Latest reply 3 years ago by o-din
  • Topic is favorited by 12 Pinsiders

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#431 3 years ago
Quoted from investingdad:

I occasionally will dream that I'm back in college, it's end of semester, and I realized I forgot to attend one of my classes.

At least you didn't dream you showed up for the exam buck naked ...

#459 3 years ago

I will be probably be retiring from my part time job (National Guard) in one to two years. There is a pension associated with this that will start at age 59 for me, but one of the best benefits is health care coverage (Tricare) that converts to Tricare for Life at age 60 and is essentially free to 65, then becomes a wrap around with Medicare part B (have to pay the part B premium). Between the time after I retire from the Guard and 60, I can have the same coverage but it will cost more than my civilian job - I'll switch to that for a few years.

I think retiring from the Guard will FEEL like a full retirement, so I plan to keep working my one job and get back 20+ hours on average a week ...

6 months later
#504 3 years ago

Still have both my jobs, but the closer I get to retirement from the National Guard, the further away it seems to get.
Guess I am trading demands on my time for $$$ to build a better shop and finish up some projects so when the military retirement does come, I can focus more on the hobby.

Excited for you @o-din, enjoy your freedom and your rebuilt Jeep. My 87 is sitting in the driveway with a partial install of a fuel injector kit...

#630 3 years ago
Quoted from cottonm4:

When I turned 65 I got on Medicare. Medicare Part A costs nothing and covers very little. Part B, which costs $144.00 month; You don’t have to buy it but you a fool if you don’t.

But Part B, while it covers more than just Part A, is still limited. So, you need to buy Part C which is private insurance you buy. Part C is subsidized by the Federal Govt. My cost is 122.00 per month.

One of the best benefits of my military service is the health care. Since most of my career is as a National Guardsman, full retirement health care does not kick in until age 60, but from 60 to 65 its 100% covered with just minimum deductibles and after that, a wrap around with Medicare Part A and Part B. While I am still active, it is pretty cheap, but in the "grey" area (from retirement to age 60), its a premium plan - however, you can enroll at ANY TIME, should the need arise. For that period, I will go back on my full time employer's insurance.

I tell all the young soldiers the health care is the best deal that comes with a full military retirement, but it's hard to them to think that far out.

#636 3 years ago
Quoted from cottonm4:

If I had it to do over again, when I left the Navy, I would have signed up for the Reserves. But I was young and dumb and did not wanting anyone telling me how to cut my hair (complete idiocy on my part).

After I left active service, I went into the reserves because it was a pretty good part time job for a college student (still is). I did ROTC while in school because it was an extra $100 a month. Went into the Guard after graduating but resigned my commission around 14 years of service because of the time commitment. After 9/11, felt like I made a mistake and went back in (surprisingly easy to do, went before a board, they asked some questions and then said raise your right hand!). Still going long after I hit 20 years and locked in the healthcare, guess its all the free travel to exotic places that keeps me in

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