My retirement story

[brooksmd]

jimijr...Ok, I understand. I thought all government agencies played by the same rules. But your right. Go on Dec 31st so you don't lose out on Jan. Sounds like you got your game plan all laid out and just waiting for the ref to blow the whistle. Me too. Not worried too much about waiting for OPM to get my monthly stipend straight. What I make with USPS is almost pocket change compared to what my wife makes. She loves her job, is 8 years younger and not ready to retire yet. I will take over all the house work and yard work so we can have completely free weekends. Except the ones she spends with the Louisiana ANG. Let's see, 4 months and 24 days.

 

[brooksmd]

I should be good until the Government saids you have too much, which one of those retirments would you like to keep!!!!!!!!

Zebra, don't say things like that in an open forum. This administration doesn't need any more ideas. I'm just hoping they leave Tricare alone. But if this healthcare law stands, I'm afraid his speech to the Disabled Vets the other day was just a smoke screen.

 

[alevin]

I hope they leave TriCare alone too. Not for my sake, for family member's sake. I can see BCBS standard option becoming one of the gold-plated by definition tho, based on premium cost, which will definitely hurt me. I'm really not inclined to drop down to Basic option.

 

[PessOptimist]

I too hope they leave tricare alone. And BCBS standard option.

I have Delta Dental and Metlife dental coverage under FEDVIP. This week, Delta decided to reject a claim for a routine exam/cleaning. Everything was working OK for the last four years but now Delta says we never told them about the other insurance. Fortunately we have paperwork showing they did know up until now. Our dentist must "resubmit the claim and see what happens". Vague statement about a new computer program and policies due to the health care bill.

I really appreciate this thread and all the info.

My retirement date is somewhere between 31 Dec 11 and 31 Dec 18.

 

[Buster]

I hope they leave TriCare alone too. Not for my sake, for family member's sake. I can see BCBS standard option becoming one of the gold-plated by definition tho, based on premium cost, which will definitely hurt me. I'm really not inclined to drop down to Basic option.

Actually Alevin..BCBS basic is a much better deal...you need to really compare with the standard option ..

but premiums alone saved me $2000/year alone, and the cost of ALL diagnostics and labs are 100% covered..Co-pay for office is $25/35 and meds are $10/35..aside from a little higher co-pays, the basic is a better deal for in the Hospital inpatient too, short stays you'll pay a little more but, long stays are better with the basic.

Take a closer look, maybe you have certain circumstances that are different than mine..it may make not make much difference for you, I donno..But you at least need to compare them real close..It maybe worth it for you.

I'm really glad I switch to basic last fall.

 

[alevin]

Thanks for the suggestion, buster. I started with Standard waaaay back when there was no "Basic", Pretty sure I did some comparisons when Basic first came out but haven't looked in awhile. I'm sure some things have changed, including having FSA, which didn't exist back when. I'll take another look the next Open Season.

 

[Buster]

Thanks for the suggestion, buster. I started with Standard waaaay back when there was no "Basic", Pretty sure I did some comparisons when Basic first came out but haven't looked in awhile. I'm sure some things have changed, including having FSA, which didn't exist back when. I'll take another look the next Open Season.

I did too..I was on Standard for eons..But this past Open season, I took the time to compare..it was unbelievable the difference and I would say it's a step up from Standard..check it out..you'll be pleasantly surprised.

 

[brooksmd]

Well it looks like I was right about the "smoke screen" from our current administration concerning Tricare. Get out your wallets.

http://www.military.com/features/0,15240,218378,00.html?wh=benefits

 

[alevin]

Well, it says no change for current beneficiaries, wonder how long before they change that tune.

 

[Birchtree]

Someone has to pay for the health care benefits for all the new NINAs enrolled. You know the no income no assets bunch - now living for free in their big homes waiting on foreclosure - but they sure can vote without a conscience.

 

[Zebra]

Well it looks like I was right about the "smoke screen" from our current administration concerning Tricare. Get out your wallets.

http://www.military.com/features/0,15240,218378,00.html?wh=benefits

Promises will constantly be broken by our Government. As a 22 year (66 - 88) military veteran, I can Vividly remember the following; "If you re-enlist and make the military your carrer, apon retirement you and your family will receive FREE health care!!!!!!! Plus there were several other perks, which have all but evaporated! What is written today can easily be changed tomorrow! Health Care is what most seniors worry about the most, plus many are not financially blest to the point of not being concerned.

 

[rawiron1]

Well it looks like I was right about the "smoke screen" from our current administration concerning Tricare. Get out your wallets.

http://www.military.com/features/0,15240,218378,00.html?wh=benefits

WOW! But hey when we get back to the basics of being a democratic republic instead of an imperialistic empire involved in never ending war after war maybe we can get our bills paid and spending under control. I mean heck we are still fighting the Rooskies, Koreans, Japanese, etc. Didn't George Washington warn us about foreign alliances and entanglements? The reasons why we are in this big mess are as follows..

1.) greed (I want what is his, his woman, his oil, his other resources).
2.) entitlement mentality (I'm an Amerikan, it's my right to take what you got).
3.) and our inability to keep our noses out of other people's business

 

[2moryrs]

I have not stopped by here in awhile. (You all are having entirely too much time on your hands)
Two thirds of the way thru my second year of retirement. I have begun what I call my open faced sandwich years. I have no children of my own, and the husband's children are very well set up. But, I have both of my parents still alive and living in their own home. Dad is 79 and Mom is 81. Dad lost his license and Mom now has to do all the driving. Hence calling it the open faced sandwich years as opposed to the sandwich years.
Keeping the road between there and here pretty hot as I travel back and forth every two months, more or less. They don't want to move to the state where I live and we can't afford to move to the state where they live. They are good people and I am glad to still have them. Retirement lends itself well to be able to assist them with home maintenance and other issues.
So, now I am off to pay my critter sitter from the last trip and to play with my horse and go for a ride. Happy Friday!

 

[Birchtree]

You should be considering how to conserve the elder's assets because any type of elder care is going to eat through any assets like a moth. Hiring an inhome care assistant is probably the most economical aside from living with you - that may eventually happen when only one is left.

 

[2moryrs]

Hey, Birch;
We did do some research on what's available in their area. What an interesting journey. It appears that there is a licensing and certification process that inhome care companies must adhere to; though not all of them do. Some are nationwide companies and some are localized for their state.
I am very thankful that they appear to have plenty of assets and I am encouraging them to payoff their home (which they have not done yet). They have used second mortage(s) to make a very nice liveable place.
Their home is their only debt, both vehicles are now paid for and they just have the monthly expenses: food, shelter, insurance, health care.
Thanks for the insight.

 

[jimijr]

My Pre-retirement

The sands are running out on me.

I sent my TSP-70 to RBC Wealth Mgt. in St Paul. They've completed their section. I called the thrift people and she said they'd have to wait 31 days for OPM to certify my separation, after which I should submit the dash70. I will be transferring 100% of my TSP balance to my traditional IRA which I established back when they were new. My guy is talking Corporate Preferreds: I said, just get us 6%, you can have 1 and I'll take 5.

I have my SF3107 roughed out, so I called Workforce Management but my specialist is on vacation so her desk was being handled remotely. That person does not answer her phone nor does she call me back. Hmph. My tax dollars at work. In St Paul they always answer the phone.

In November I will be switching from BCBS 105 Standard Family to 112 Basic Family.

I just made my final payment to VISA for rehabbin' the Key Cat, she's prime now. The hard top comes off this week since the tropical season is over -- the hawks have returned for the winter.

My TSP is paid up for the year minus 5% (for matching) on the last five pp's. My 50+ is all topped up. Those 'final five' will put 5K in cash into my drawer and another 5K into the checking account. I'm figuring the tenner will get me through 90 days until April when OPM had better have it together for me. (My final paycheck on Jan 10th is pure profit.)

My annual leave payout will be 20K plus change, minus 20% for the tax man equals ~15K. This means no withdrawl from the IRA during Year One. Thus my earnings in 2011 will finance my withdrawls for 2012 and I will stay one year ahead for ever.

My colleagues are starting to realize how much more time they have to put in. Most, 10 years or more. They're giving me some looks. No more rotating shiftwork for this tired old weatherman! "What are you going to do?" "What I do best -- drink beer smoke smoke read science fiction."

 

[tsptalk]

Way to go jimijr! A plan being executed to perfection. Nice job!

Good luck and enjoy yourself. Don't forget to stop in on us working stiffs once in a while.

 

[Birchtree]

I'd seriously consider giving up the smokes you'll live longer. There ain't nothing worse than having every blood vessel in your body shot out - quit immediately. As a retired respiratory therapist I speak from years of experience seeing the damage that is done.

 

[jimijr]

My Dad turns 90 in Feb. He has lived the last six years in a nursing home/memory care facility -- Alzheimer's. My Mom was right there with him until she passed last year. "Mac, where's Betty?" "Betty who?" They were married for 63 years.

This is why I'm going the moment I'm eligible. I'll smoke, thanks.

 

[nasa1974]

jimijr, Great story. Good luck and stay in touch once your out. 19 months and counting.