Retirement Question

[MoPops]

What would healthcare cost for a couple of 62 yr olds in very good health? I'm just curious. I've never priced it, thinking it would be over $3,500/mo..

 

[ultrarunner]

My understanding is it depends on Income, Geographic Region and Level of Coverage

 

[k0ua]

What would healthcare cost for a couple of 62 yr olds in very good health? I'm just curious. I've never priced it, thinking it would be over $3,500/mo..

Too many variable to help you over an internet forum.. Also don't forget
Christian healthcare.. If you are a Christian. Very affordable, not exactly insurance, it is Christians helping other christians with their healthcare bills. It is nationwide, and growing. I am on it. We are paying about $300 per month for both of us. This is what we will stay with until Medicare age. It has paid for thousands of dollars worth of my wife's medical expenses in the last few years. Contact me if you want more info about it. Oh by the way it does qualify under the ACA as credible coverage, so it takes care of that responsibility.

 

[ultrarunner]

I've thought of looking into the Christian Coverage should I retire early...

I've been lucky... probably spent less than a couple of hours in the Doctor's Office in the last 20 years...

Although cancer does run in both sides of the family and men always go in their 70's...

 

[buckeyefarmer]

Does money in IRA's or 401K's effect your SS payments in the future?

Are minimum required distribution from 401K the same rate as with IRA? I found IRS table for IRA, but it did not specifically say it also applied to 401K.
I've spent the whole day just looking at sources of income, and all the variables. I've squirreled away stuff here and there, and there are so many variables when to take, survivor benefits, etc...., and I haven't even rolled the wife's numbers into the totals yet.

If I want to retire before 62, looks like I will have to take some IRA or 401K money before 70.5, to fill the gap from retirement to 62.

 

[ultrarunner]

I think you have discretion with most expenses... the big wile card is medical and good coverage is expensive and then there is the long term coverage that doesn't get talked about much.

 

[k0ua]

Does money in IRA's or 401K's effect your SS payments in the future?

Are minimum required distribution from 401K the same rate as with IRA? I found IRS table for IRA, but it did not specifically say it also applied to 401K.
I've spent the whole day just looking at sources of income, and all the variables. I've squirreled away stuff here and there, and there are so many variables when to take, survivor benefits, etc...., and I haven't even rolled the wife's numbers into the totals yet.

If I want to retire before 62, looks like I will have to take some IRA or 401K money before 70.5, to fill the gap from retirement to 62.

Always consult a professional. BUT no, the IRA or 401K will not affect your SS in any way. Disclaimer: I am NOT a Social security professional.

 

[TomSeller]

Christian healthcare.. If you are a Christian. Very affordable, not exactly insurance, it is Christians helping other christians with their healthcare bills. It is nationwide, and growing. .

interesting.

 

[k0ua]

interesting.

We don't "sell" it, but If you use my name and number I will get a free month of coverage. You will too if you recommend someone and they take the coverage and keep it for 3 months. You do not have to be an agent to do this.

 

[buckeyefarmer]

Always consult a professional. BUT no, the IRA or 401K will not affect your SS in any way. Disclaimer: I am NOT a Social security professional.

I thought TBN was the professionals.