On all of these pre-medicare retirements the monthly expenses should reflect the cost of healthcare. If their current expenses were $5k per month they probably should add at least another $1.5K for health insurance and medical costs for the deductible. I noticed it must not have been included because their monthly expenses increased by the inflation amount with no step down at 65. The $5k was also pretax, since basically all of their savings was pre-tax they probably need another 10%.
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On all of these pre-medicare retirements the monthly expenses should reflect the cost of healthcare. If their current expenses were $5k per month they probably should add at least another $1.5K for health insurance and medical costs for the deductible. I noticed it must not have been included because their monthly expenses increased by the inflation amount with no step down at 65. The $5k was also pretax, since basically all of their savings was pre-tax they probably need another 10%.
Great comment!
$1.4M at 61........ohhhhhh you poor baby we'll be praying for you. There are food banks all over the place now. Good luck.
The first thing I did after retirement was move my money from my 403(b) in TIAA to Vanguard to save on expenses.
Awesome!
This scenario looks similar to my situation.
Great!
“She wants to take her daughter”. 😉😉😉
🤣😂🤣😂🤣