Author Topic: Joining the retirement club  (Read 14685 times)

Offline Lannis

  • Gaggle Hero
  • *****
  • *
  • Posts: 26507
  • Location: Central Virginia
Re: Joining the retirement club
« Reply #30 on: January 27, 2015, 07:27:21 PM »
Your employer doesn't offer the company healthcare plan for retirees?

Most don't, any more.   You can carry on the existing company plan under COBRA if you pay the monthly premiums (about $850 for me) and that lasts about 18 months.   Then it's go for what you can get ... !    

Companies started offering health benefits in/around WWII when it was hard finding people to come to work, and they needed a cheap perk.  But like anything else you offer to people cheap, they'll overuse the H out of it, and then it gets expensive ....  

This retiree is looking to get hooked up with a group of local providers that don't deal with "insurance".   You pay to keep them on a "retainer" and then just pay cash for services at a massively discounted rate.   Instead of there being two doctors and 12 admins in the office, there's 8 doctors and 1 admin .... probably a model for the future.

Lannis
"Hard pounding, this, gentlemen; let's see who pounds the longest".

Online Gliderjohn

  • Gaggle Hero
  • *****
  • *
  • Posts: 6559
Re: Joining the retirement club
« Reply #31 on: January 27, 2015, 07:47:14 PM »
Appreciate the responses of support. I would say the vote is very much in favor! ;-T  I will not be getting any medical benefits so that is my big cost but I have factored it in to my expenses, just wish it was less. Do not have any mortgage or debt and have some farm income.
Immediate retirement plans are to ride more, fly more, more regional back road exploring with wife and dog, expand landscaping further, expand volunteer activities with wife, more time with grandchild, sub teach when bored, somewhat expand workout/exercise routine and much more. I think i will be able to stay fairly busy. ;D
GliderJohn
John Peters
East Mountains, NM

Offline Zinfan

  • Gaggle Mentor
  • ****
  • *
  • Posts: 792
Re: Joining the retirement club
« Reply #32 on: January 28, 2015, 12:46:17 AM »
I will be joining you at the same time, end of May and I'm out.  I have company subsidized health plan but it still will be almost $800/month for me and the wife but that is the one major expense moving forward so I can deal with it.  I admit that at times it is surreal thinking I won't be doing this anymore.

Offline Testarossa

  • Gaggle Hero
  • *****
  • *
  • *
  • *
  • *
  • Posts: 3309
    • Skiing History
  • Location: Paonia, Colorado
Re: Joining the retirement club
« Reply #33 on: January 28, 2015, 02:05:40 AM »
Quote
Companies started offering health benefits in/around WWII when it was hard finding people to come to work, and they needed a cheap perk.

As I understand it, the labor shortage was exacerbated by wartime regulations freezing wages. Courts ruled that employer-paid health insurance premiums weren't wages, so companies and unions negotiated health benefits in lieu of wage increases. Wikipedia:

Quote
The first employer-sponsored hospitalization plan was created by teachers in Dallas, Texas in 1929.[23] Because the plan only covered members' expenses at a single hospital, it is also the forerunner of today's health maintenance organizations (HMOs).[23][24][25]

In the 1930s, The Roosevelt Administration explored possibilities for creating a national health insurance program, while it was designing the Social Security system. But it abandoned the project because the American Medical Association (AMA) fiercely opposed it, along with all forms of health insurance at that time.[26]

The rise of employer-sponsored coverage
Employer-sponsored health insurance plans dramatically expanded as a direct result of wage controls imposed by the federal government during World War II.[23] The labor market was tight because of the increased demand for goods and decreased supply of workers during the war. Federally imposed wage and price controls prohibited manufacturers and other employers from raising wages enough to attract workers. When the War Labor Board declared that fringe benefits, such as sick leave and health insurance, did not count as wages for the purpose of wage controls, employers responded with significantly increased offers of fringe benefits, especially health care coverage, to attract workers.[23]

President Harry S. Truman proposed a system of public health insurance in his November 19, 1945, address. He envisioned a national system that would be open to all Americans, but would remain optional. Participants would pay monthly fees into the plan, which would cover the cost of any and all medical expenses that arose in a time of need. The government would pay for the cost of services rendered by any doctor who chose to join the program. In addition, the insurance plan would give a cash balance to the policy holder to replace wages lost due to illness or injury. The proposal was quite popular with the public, but it was fiercely opposed by the Chamber of Commerce, the American Hospital Association, and the AMA, which denounced it as “socialism.”[27]

Foreseeing a long and costly political battle, many labor unions chose to campaign for employer-sponsored coverage, which they saw as a less desirable but more achievable goal, and as coverage expanded the national insurance system lost political momentum and ultimately failed to pass. Using health care and other fringe benefits to attract the best employees, private sector, white-collar employers nation-wide expanded the U.S. health care system. Public sector employers followed suit in an effort to compete. Between 1940 and 1960, the total number of people enrolled in health insurance plans grew seven-fold, from 20,662,000 to 142,334,000,[28] and by 1958, 75% of Americans had some form of health coverage.[29]
70 Triumph TR6R, 74 850T, 74 Yamaha TA125, 89 Mille GT, 99 F650, 2013 Yamaha XT250
Gone: 59 Piper Comanche 250, 69 Harley/Aermacchi 350SS, 71 Honda CB500/4, 74 Laverda 750 SF2, 91 Suzuki VX800, 50cc two-stroke scoot, 83 XR350R

Wildguzzi.com

Re: Joining the retirement club
« Reply #33 on: January 28, 2015, 02:05:40 AM »

Offline davedel44

  • Gaggle Hero
  • *****
  • *
  • Posts: 1445
  • Location: Galveston Island, near the coast of Texas
Re: Joining the retirement club
« Reply #34 on: January 28, 2015, 07:28:15 AM »
Congrats!
I like retirement so much I've done it twice now.  No worries about keeping busy.  If you had outside interests during your work life, you'll be fine.
Example.  Yesterday the only thing I had to do was make sure that the dogs got fed and take my daily walk, then I got to choose between tinkering with the Cali Stone, riding the V7 Stone, or starting a small project for the wife.  Decided to walk the dogs to downtown, had a cup of coffee at a local owned coffee shop, met a buddy who was ditching work and ended up taking his boat out to the jetties.  Fished all afternoon.   Fixed fresh fish for dinner.
"Worked" on organizing some music, watched some tv and retired early.
It's another beautiful day today and I don't have to go to WORK!
Try it!  You'll like it.

Dave
Galveston
 
Bambino- 2013 V7 Stone

Offline NC Steve

  • Gaggle Hero
  • *****
  • Posts: 3199
  • Location: Winston Salem, NC
Re: Joining the retirement club
« Reply #35 on: January 28, 2015, 06:50:18 PM »
A couple years ago I ran into a friend that worked on the Fire Dept. with me.  I asked him how he liked retirement and he told me, "I get up in the morning with nothing to do, at the end of the day I've only got half of it done."

And he's right!  ;D
'16 Triumph T100
Past:
'19 RE Himalayan
'07 Honda ST1300
'00 Jackal,'89 Mille GT,'03 Cali Stone
4 Airheads, '88 K75,'99 BMW R1100R
___________________ ___________
Never argue with an idiot. They will only bring you down to their level and beat you with experience.
Mark Twain

Offline Lannis

  • Gaggle Hero
  • *****
  • *
  • Posts: 26507
  • Location: Central Virginia
Re: Joining the retirement club
« Reply #36 on: January 28, 2015, 07:00:35 PM »
A couple years ago I ran into a friend that worked on the Fire Dept. with me.  I asked him how he liked retirement and he told me, "I get up in the morning with nothing to do, at the end of the day I've only got half of it done."

On a similar note, my experience so far has been like the old song ...

"They say I'm lazy but it takes all my time,
Life's been good to me so far ... !"

Lannis
"Hard pounding, this, gentlemen; let's see who pounds the longest".

Offline Rich A

  • Gaggle Hero
  • *****
  • *
  • *
  • *
  • Posts: 3151
Re: Joining the retirement club
« Reply #37 on: January 28, 2015, 07:03:38 PM »
Q: How many retired people does it take to change a lightbulb?

A: Just one person, but it might take a while.

Congrats!

Rich A

Online Chuck in Indiana

  • Gaggle Hero
  • *****
  • *
  • *
  • *
  • Posts: 29445
Re: Joining the retirement club
« Reply #38 on: January 28, 2015, 07:12:49 PM »
And he's right!  ;D
Absolutely. I've been doing the retirement gig since '92, and I've had enough experience to talk about it. Have something to do that you *care* about doing.   ;D  If you don't, you'll end up doing *something* just to keep from being bored. The people that I know that are living long happy lives are vitally interested in whatever it is they are interested in. Me? I like Airplanes, motorcycles and beer.  ;D :BEER:
Chuck in (Elwood) Indiana/sometimes SoCal
 
87 AeroLario
95 Skorpion tour
22 Royal Enfield Classic 3 fiddy
 "Two things are infinite: the universe and human stupidity; and I'm not sure about the universe."
Albert Einstein

Offline rboe

  • Gaggle Hero
  • *****
  • Posts: 5086
Re: Joining the retirement club
« Reply #39 on: January 28, 2015, 09:01:49 PM »
I'd ask you in what order but I imagine that varies through out the day.....   :BEER:
Phoenix, AZ
2000 Quota 1100 ES Black (sold & gone)
2008 Honda XR650L
2012 Griso SE
2013 Honda CB1100

Offline afulldeck

  • Gaggle Hero
  • *****
  • Posts: 1326
  • "This indecision is final!"
Re: Joining the retirement club
« Reply #40 on: May 17, 2015, 06:16:47 PM »
Its coming up to the end of May. Are you still on track to retire or has someone roped you back into the game  ???
"Moto Guzzi - Making mechanics out of motorcycle riders since 1921!"

1987 Kawaski Ninja "Night Prowler" (White)
2007 Norge  (Red....the fast red!)

Offline redrider90

  • Gaggle Hero
  • *****
  • *
  • Posts: 2448
  • Location: NC
Re: Joining the retirement club
« Reply #41 on: May 17, 2015, 06:50:24 PM »
Most don't, any more.   You can carry on the existing company plan under COBRA if you pay the monthly premiums (about $850 for me) and that lasts about 18 months.   Then it's go for what you can get ... !    

Companies started offering health benefits in/around WWII when it was hard finding people to come to work, and they needed a cheap perk.  But like anything else you offer to people cheap, they'll overuse the H out of it, and then it gets expensive ....  

This retiree is looking to get hooked up with a group of local providers that don't deal with "insurance".   You pay to keep them on a "retainer" and then just pay cash for services at a massively discounted rate.   Instead of there being two doctors and 12 admins in the office, there's 8 doctors and 1 admin .... probably a model for the future.

Lannis


Interesting concept Lannis but what about specialities, cardiology, orthopedics, oncology, general surgery, dermatology, hematology and on on the long list goes.
What happens if you end up in the hospital/surgery or whatever? Hospitals are extraordinary expensive.
Red 90 Mille GT

Offline Kent in Upstate NY

  • Gaggle Hero
  • *****
  • Posts: 2274
Re: Joining the retirement club
« Reply #42 on: May 17, 2015, 07:05:28 PM »
My retirement plan covers the same insurance my employer did. No change. Which is good because right in the middle of all our plans my wife's cancer came back.  >:(
Correctional educators don't make the criminals you fear. We make the criminals you fear smarter.

Offline afulldeck

  • Gaggle Hero
  • *****
  • Posts: 1326
  • "This indecision is final!"
Re: Joining the retirement club
« Reply #43 on: May 17, 2015, 07:09:50 PM »

Interesting concept Lannis but what about specialities, cardiology, orthopedics, oncology, general surgery, dermatology, hematology and on on the long list goes.
What happens if you end up in the hospital/surgery or whatever? Hospitals are extraordinary expensive.

The other issue is that doctors and health providers go out of business and retire. How do you hand that issue?
"Moto Guzzi - Making mechanics out of motorcycle riders since 1921!"

1987 Kawaski Ninja "Night Prowler" (White)
2007 Norge  (Red....the fast red!)

Offline davedel44

  • Gaggle Hero
  • *****
  • *
  • Posts: 1445
  • Location: Galveston Island, near the coast of Texas
Re: Joining the retirement club
« Reply #44 on: May 17, 2015, 07:15:57 PM »
Retirement was one of the best decisions I ever made.
Enjoy

Dave
Galveston
Bambino- 2013 V7 Stone

Offline LowRyter

  • Gaggle Hero
  • *****
  • *
  • *
  • Posts: 16685
  • Location: Edmond OK
Re: Joining the retirement club
« Reply #45 on: May 17, 2015, 08:04:04 PM »
Since I retired I don't have time for sh!t.
John L 
When life gets you down remember it's one down and the rest are up.  (1-N-23456)

Online Gliderjohn

  • Gaggle Hero
  • *****
  • *
  • Posts: 6559
Re: Joining the retirement club
« Reply #46 on: May 17, 2015, 09:12:47 PM »
Five more days! ;D All on track. Getting excited.
GliderJohn
John Peters
East Mountains, NM

prof_stack

  • Guest
Re: Joining the retirement club
« Reply #47 on: May 17, 2015, 09:18:09 PM »
I'm looking more forward to retirement than I used to, that's for sure.  I still love what I do (HS math teaching), but it seems the school admin's always want us teachers to do something new each year, without necessarily removing the previous stuff. 

Actually, I waiting for my broker to tell me that I can retire.  In the meantime I'm saving as much as possible.

Offline Muzz

  • Gaggle Hero
  • *****
  • Posts: 7055
  • On the backside of the planet.
  • Location: Christchurch, New Zealand
Re: Joining the retirement club
« Reply #48 on: May 18, 2015, 12:45:44 AM »
Congratulations John.  All the best for your retirement.

For me, it is the end of this year when the firm mostly closes down for the Christmas break.  I went down to a 4 day week about a month ago and am really loving that.  Whetting my appetite for full retirement.  We have a Govt superannuation scheme here where you get paid no matter assets you have. ;-T  That starts at age 65.  As my wife has just turned 65 she is now a recipient, which is why I was able to go down to the 4 day week.  I will be 67 when I pull the plug;  have been buying up welders, lathes etc to keep me occupied.  Have a firm chasing me to be their on-call maintenance man, which could make for a useful top-up.
Muzz. Cristchurch, New Zealand
03 Breva

Life is just a bowl of Allbran
Ya wake up in the morning and it's there

lucydad

  • Guest
Re: Joining the retirement club
« Reply #49 on: May 18, 2015, 05:49:52 AM »
John and others on the greener side of the fence...

Looks like my retirement will be near May, 2016.  Hornswaggled myself by committing to build a retirement house with Ms. LD.  That ended up more expensive than estimated (ya think?).  Corporate builder has this neat trick of requiring basic house deposit, and then deposit for "upgrades".  Those of course are non-refundable if we back out,  which we won't.  House will not be done until next spring, that is, if the rains slow down.  They can't build with constant rain, which is the norm now.

Good news:  made last, and small private college payment last week.  No more 3 grand/month college costs.  Youngest daughter graduates end of May, and has a paid internship and appears to be on target for rapid career launch and off the payroll. 

Flubdub energy may fire me before my target date, and if Mr. Boss goes all wonky on me again, I may just quit.  Loan on new house is set up on my current working income.  But can be changed to retirement income stream, and I am working with investment gurus on that now. 

Pretty ready to call it a career though:  40 years non-stop in the oil bidness, this week. 

Congrats to those getting the out of jail free cards!

Offline Lannis

  • Gaggle Hero
  • *****
  • *
  • Posts: 26507
  • Location: Central Virginia
Re: Joining the retirement club
« Reply #50 on: May 18, 2015, 08:37:32 AM »
Congratulations John.  All the best for your retirement.

For me, it is the end of this year when the firm mostly closes down for the Christmas break.  I went down to a 4 day week about a month ago and am really loving that.  Whetting my appetite for full retirement.  We have a Govt superannuation scheme here where you get paid no matter assets you have. ;-T  That starts at age 65.  ....

We got one of those here too.   You can start at age 62 at a slightly reduced rate (my plan under the "git it whilst you can" principle), or 65, or wait as long as you want till you need it.   Independent of income or assets.   Called "Social Security", been running since the 1930s ....

Lannis
"Hard pounding, this, gentlemen; let's see who pounds the longest".

LaMojo

  • Guest
Re: Joining the retirement club
« Reply #51 on: May 18, 2015, 09:11:06 AM »
.... Have something to do that you *care* about doing.   ;D  If you don't, you'll end up doing *something* just to keep from being bored. ... Me? I like Airplanes, motorcycles and beer.  ;D :BEER:

There you go! I self retired last year, and but for a few moments time to time, feel guilty of not going to work. I sorta like it.  If you really get bored, buy some rental property.  :P  Oh, and procrastination goes hand and hand with retirement.

Good luck on your retirement John.

Offline jbell

  • Gaggle Mentor
  • ****
  • *
  • *
  • *
  • *
  • Posts: 926
  • Some progress
Re: Joining the retirement club
« Reply #52 on: May 18, 2015, 12:34:53 PM »
Since I retired I don't have time for sh!t.

 :+1

Gliderjohn,  it may take a bit before you feel comfortable but dang this is nice.  My secret weapon?  Whenever someone tells me to have a nice day, I reply, "When you're retired, they're all nice, it just takes 50 years of hard work to get here."

'75 Ducati 860 GT  On the road
'76 Guzzi T3   Future project
'78 Guzzi G5  Current project
'81 Guzzi G5  Organ donor
'92 BMW K75RT  On the road
'16 Triumph Thruxton R  "Holy Moly"  Gone but not forgotten, sigh.


"Be yourself, everyone else is taken".......Oscar Wilde

Offline Lannis

  • Gaggle Hero
  • *****
  • *
  • Posts: 26507
  • Location: Central Virginia
Re: Joining the retirement club
« Reply #53 on: May 18, 2015, 12:57:37 PM »
The other issue is that doctors and health providers go out of business and retire. How do you hand that issue?


Same as you do if your lawyer, banker, or financial adviser retires or goes out of business ... you get another one?   My doctor is my age, so I'm sure I'll be looking for another soon ....

Lannis
"Hard pounding, this, gentlemen; let's see who pounds the longest".

canuguzzi

  • Guest
Re: Joining the retirement club
« Reply #54 on: May 18, 2015, 01:35:23 PM »
My retirement plan covers the same insurance my employer did. No change. Which is good because right in the middle of all our plans my wife's cancer came back.  >:(

I have the same healthcare as you, can't imagine going without that (mine was Unit 6 stuff).

Hope your wife gives the C a big kick in the arse.

Online Gliderjohn

  • Gaggle Hero
  • *****
  • *
  • Posts: 6559
Re: Joining the retirement club
« Reply #55 on: May 18, 2015, 02:31:19 PM »
Thanks for all the good words of retirement support. Just had lunch with small group of others that do the same somewhat specialized work that I do. There are four out of about a dozen of us that are retiring. Unusual in that small a group. Four and a fourth day left. :BEER:
GliderJohn
John Peters
East Mountains, NM

MotoGoosy

  • Guest
Re: Joining the retirement club
« Reply #56 on: May 18, 2015, 03:01:34 PM »
Retired 6 years ago.  Too healthy to do nothing.  If you think working is hard, try NOT working.  Humanoids are designed to produce.  Been doing all kinds of jobs since.  Still, it's nice not to have to depend on an employer for your very existence.

Offline afulldeck

  • Gaggle Hero
  • *****
  • Posts: 1326
  • "This indecision is final!"
Re: Joining the retirement club
« Reply #57 on: May 18, 2015, 08:06:29 PM »
Retired 6 years ago.  Too healthy to do nothing.  If you think working is hard, try NOT working.  Humanoids are designed to produce.  Been doing all kinds of jobs since.  Still, it's nice not to have to depend on an employer for your very existence.

My issue with work, is around unsavoury need to work 7-5. Its rare to find flexible work hours especially around a shorter work day or work week. Companies that I have worked for demand that you to work longer and be available 24X7, there is no such thing as work life balance.

If I could make my workday three days a week (at my current hourly wage) I would work until I die. Right now, I can't wait until I can leave the desk permanently.   
"Moto Guzzi - Making mechanics out of motorcycle riders since 1921!"

1987 Kawaski Ninja "Night Prowler" (White)
2007 Norge  (Red....the fast red!)

Offline Lannis

  • Gaggle Hero
  • *****
  • *
  • Posts: 26507
  • Location: Central Virginia
Re: Joining the retirement club
« Reply #58 on: May 18, 2015, 09:05:48 PM »
My issue with work, is around unsavoury need to work 7-5. Its rare to find flexible work hours especially around a shorter work day or work week. Companies that I have worked for demand that you to work longer and be available 24X7, there is no such thing as work life balance.....


Well, shoot, if I didn't want the 24 x 7 deal, I wouldn't work for that company.   Plenty of jobs in the world that don't require that sort of commitment.   

I generally had that sort of job, but I didn't mind.   If I were working for myself, that's the same deal I would have had anyway.   No surprise that a company wants the same thing ....

Lannis
"Hard pounding, this, gentlemen; let's see who pounds the longest".

 

***Wildguzzi Official Logo High Quality 5 Color Window Decals Back In Stock***
Shipping in USA Only. Awesome quality. Back by popular demand. All proceeds go back into the forum.
http://www.wildguzzi.com/Products/products.htm
Advertise Here