Retreat! Part 2

[darkemeralds]

Cross-posted to Google+

Melinda, the adviser at ING who manages the deferred compensation portfolio for my employer (and who is therefore very busy helping hundreds of us late Baby Boomers prepare to retire), is a sharp, savvy woman.

The last guy I went to was at least fifteen years my junior. His office featured studio portraits of his lovely wife and several handsome matching kids, as well as prominent insignia of his religious convictions. I'm not sure he could actually see the likes of me, and he certainly couldn't see my point of view on life any better than I could see his. His financial advice, unsurprisingly, bore little relationship to my wishes and none to my strengths or talents.

Melinda, on the other hand, said, "Yeah, you work [in the World's Tallest Basement] for twenty, twenty-five years, and that's it, you've had it, you're burnt out. And yet you're still active, fit and healthy, and you want to enjoy life while it's still enjoyable."

Well, yes, Melinda. That's it exactly. Thanks for sayin'.

I don't have final figures yet, and nobody's pretending that I'll be able to retire like a queen. Unlike so many Americans, however, I have a retirement fund, and I have access to a full coverage health plan whose monthly premium will be no more than the rent on a modest apartment.

So really, all I have to do is scale back by one modest rent, and retirement is within my sights!

Comments

[darkemeralds]

It's not COBRA, as far as I understand it. I can keep it till Medicare cuts in. The rates are almost guaranteed to go up every year, however, and they probably do have contractual clauses that let them cut me off or whatever.

Your plan sounds pretty reasonable. But isn't it crazy that we think that's reasonable?

[executrix]

Good work having retiree health benefits! They are a unicorn.

I'm in a constant state of Grump because I need $20k a year just to pay my real estate taxes and health insurance, and that's before I pay any *income* taxes or, you know, pay the gas bill or go to yard sales or buy food.

[darkemeralds]

Property and income taxes are a real consideration, though they don't bother me as much in principle as the health insurance does. Here in Portland my admittedly high property taxes support a really nice city to live in and really good drinking water, and good planning and urban design and lots of bikeways and stuff.

Also, my particular property taxes are controlled--my dumpy little house is in a dumpy little neighborhood "enterprise zone" and capped taxes have contributed significantly to the diversity of home ownership around here, so it's a good place for me to just stay.