<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Retirement prepping

Retirement prepping

March 28th, 2008 at 06:55 pm

I checked with HR and found out I need to give a two week notice in writing when I'm ready. After that they may decide to let me go immediately or have me work out my time. I'm fairly sure I will have to work out my time. Smile

I also found out what COBRA will cost after I retire. 182.26 a month for health insurance for up to 18 months. This is excellent.

I've been checking eHealthInsurance.com and most online quotes are between $250 - $300.

I went over my budget once again and on paper I have more than enough, will just have to see how things go after I retire. I expect to live on between $1500 and $1750 per month in retirement. No house payment.

I need to find out how to deal with a very small pension left from 10 years ago before we were bought out the first time and it was froze and also how the 401K is handled.

Posted in Uncategorized | 11 Comments »

11 Responses to “Retirement prepping”

  1. My English Castle Says:
    March 28th, 2008 at 07:06 pm 1206731216
    1206731216

    That is an excellent quote for insurance! Are you planning on working part time at all?

  2. dickyvman Says:
    March 28th, 2008 at 08:19 pm 1206735559
    1206735559

    Congrats! I've been following your blog since I first found this site and your blog is definite motivation for me! Thanks and good luck!

  3. retire@50 Says:
    March 28th, 2008 at 08:35 pm 1206736530
    1206736530

    no, I don't plan to work at all

  4. davera Says:
    March 28th, 2008 at 08:45 pm 1206737144
    1206737144

    Wow, that is awesome planning on your part. You are SO young to be able to pull the plug. I hope you will keep blogging about this next phase. I'm really interested in how you will budget $1500-1750 a month, for example.

  5. Carolina Bound Says:
    March 29th, 2008 at 12:04 am 1206749057
    1206749057

    I'm an early retiree and I pay $4802 annually for insurance (or $400 a month). So your quote IS very good.

    Medical/health costs are by far my greatest expense. You might find you spend more on travel in retirement, also, with all that free time!

  6. Sami Says:
    March 29th, 2008 at 01:11 am 1206753077
    1206753077


    Please note that RETIRE@50 stated that he/she will be receiving/paying for insurance coverage thru COBRA for 18 months. That may explain the lower than expected cost. Although I have always heard that COBRA was un-Godly pricy. I was also under the impression that COBRA was (only) available to those who LOST their job not those who voluntairly gave it up.

  7. Sami Says:
    March 29th, 2008 at 01:27 am 1206754077
    1206754077


    After doing some online research in to COBRA, I discovered retirees are entitled to COBRA however . . . . .


    < < < Employers must notify plan administrators of a qualifying event within 30 days after an employee's death, termination, reduced hours of employment or entitlement to Medicare. > > >

    Is retirement the same as reduced hours of employment as far as COBRA goes?


    I am assuming this has already been discussed with whomever handles such things where you work.



  8. terri77 Says:
    March 29th, 2008 at 04:33 am 1206765210
    1206765210

    You can get COBRA at my hospital when quitting voluntarily.

  9. Thrifty Ray Says:
    March 29th, 2008 at 04:50 am 1206766252
    1206766252

    Oh R@50...I am so anxious to read your AFTER posts...I know you will be teaching us all a thing or two about retiring early...WOO HOO for YOU.

  10. Lisa Says:
    March 29th, 2008 at 12:55 pm 1206795338
    1206795338

    I am 47 1/2 and plan to retire in the next 2 years. Its great to read your posts. I plan to become a pertpetual traveler. Health care is my big fear/concern. What will you do when cobra runs out? Do you have a plan yet?

  11. luxlivingfrugalis Says:
    March 29th, 2008 at 03:24 pm 1206804259
    1206804259

    One small step for mankind!!! Big Grin
    YEAHHHHH, are you starting to smell fresher oxygen yet???

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]