So why do I care if my insurance has a large pre-pay? Meanwhile, the older people end up paying more and more for their care including these larger deductibles. I love your reflection on retirement and advice to those approaching this time of life. I am semi-retired and looking forward to the adventure along the way. I really enjoyed your retirement article. I retired at 62 after I had surgery on my foot and leg and could not run the rat race anymore, that is be on my feet 12 to 14 hours a day. What a blessing in a way. I am with Billy buc on his comment. You are never ready for retirement, you just go for it and it is what it is. Eric- Thanks for the comment my friend. Without a nice glass of Wine after my horrible golf round, what else would a poor retiree do?
Enjoy the writing and who cares what anyone else thinks! Yes, there are some issues we think lightly of, or take for granted before we actually retire. Thanks for the reality check! Don, congratulations on surviving 3 years of retirement! NOT going to work every day can be just as stressful if they don't have a serious hobby or another vocation (like writing!) to fill the time. But as you already know, a happy retirement is nothing more than a positive attitude and a good grasp of reality. If one intended to travel the world in their "golden" years, but their retirement income will only support trips to the next state, the retirement years won't be happy. Don, you’ve brought out some specific problems that retirees are facing. I’m too chicken to face them right now although I'm older than you. I’m a WWII baby well past retirement age but I’m still working and have insurance.
You mention having good Medicare Parts A, B, and D because medicare pays only 80% of the cost. Come January 1, I am switching to medicare with a supplemental and dropping my current state employees insurance PPO because it all of a sudden has high copays, plus it only pays 80% of any additional medical costs. Our good insurance has gotten worse than medicare with no supplemental. We are also relegated to generic drugs, and I pay nearly full price for a drug which has no generic substitute in my particular case. I paid dearly for a broken leg when I slipped on the ice at work last winter (not considered workers’ comp). Medicare with supplemental is a helluvalot better deal. And you are correct about 401Ks and other company plans. My brother lost his proverbial donkey with his 401K when the economy went belly-up in 2008. He will never get his money back. I, on the other hand, have a good financial planner and had zero dollars in 401K, so my retirement has come back and is starting to multiply again.