Early Retirement: Could Obamacare change the Discussion?

[Someone]

My buddy lives in CA, hates his job and wants to retire at 62 next month.

 

He has 3 problems that are fouling up his plan.

 

1. His wife doesn't work. She used to but she doesn't like being around other people or 'working on a computer'. (Who knows?)

2. He didn't save much because he assumed after 43 years that his company would pay for his retirement.

3. His health is bad and his wife's heath is worse.

 

He says that with a pension and SS, he can get a gross income = to his take home. However, COBRA will cost him $2000 a month. He can't afford that.

 

So today, he says he can afford to retire because of Obamacare. Here is the link he sent:

 

http://laborcenter.berkeley.edu/healthpolicy/calculator/

 

Assuming his MAGI is 62k or less, his health insuance cost will fall by about 75% from his current COBRA estimates.

[RednScarlet]

Since early retirement is on my mind, this thread caught my eye.

 

Affordable healthcare is one of the considerations you need to take into account if

you retire before 65 and medicare kicks in.

 

Used the calculator for myself and wife, came up with about $ 431 a month for the silver plan premium.

 

Now, the much larger worry is the talk of raising it from 62 to 64.

 

Just hoping they hold off for 412 days. ( Not that I'm counting or anything...)

[BigRedBuster]

1. His wife doesn't work. She used to but she doesn't like being around other people or 'working on a computer'. (Who knows?) Weird.

2. He didn't save much because he assumed after 43 years that his company would pay for his retirement. Stupid.

3. His health is bad and his wife's heath is worse. I'm guessing (Smoker, over weight) Just a guess.

[Someone]

1. His wife doesn't work. She used to but she doesn't like being around other people or 'working on a computer'. (Who knows?) Weird. I agree. We call her Kookie.

2. He didn't save much because he assumed after 43 years that his company would pay for his retirement. Stupid. I agree. He and 1/3 of all Americans.

3. His health is bad and his wife's heath is worse. I'm guessing (Smoker, over weight) Just a guess. Close. Overweight and arthritic.

So, what do you think. Is ACA his ticket to early retirement?

[BigRedBuster]

Possibly....I guess.....Not sure how that takes care of him not having any savings.

 

I know this is off topic from what you posted, but I would tell her where to go. So.....he needs to figure out how to support her simply because she doesn't like being around people?

[Someone]

Possibly....I guess.....Not sure how that takes care of him not having any savings.

 

I know this is off topic from what you posted, but I would tell her where to go. So.....he needs to figure out how to support her simply because she doesn't like being around people?

It is not my place to tell others who to love and why. Come to think if it, that seems to be a common theme these days.

[BigRedBuster]

Where did I say you should?

[Someone]

Where did I say you should?

You didn't. You said: "I would tell her..." And then you asked: "So.....he needs to figure out how to support her simply because..."

 

It sounds to me like you have some thoughts as it if she is worthy of the love and support my friend has for his wife. You are free to make the judgement, however, I choose not to make judgements like that. That's all.

[knapplc]

Where did I say you should?

You didn't. You said: "I would tell her..." And then you asked: "So.....he needs to figure out how to support her simply because..."

 

It sounds to me like you have some thoughts as it if she is worthy of the love and support my friend has for his wife. You are free to make the judgement, however, I choose not to make judgements like that. That's all.

 

Sounds to me like you're putting judgments on BRB's post in much the same fashion you're accusing him of doing.

[HSKR]

I don't know if the average citizen will retire early because of Obamacare but I know for a fact the some doctors will retire early (or earlier then they had planned) because of it since I was personally told by one this very thing. I'm assuming there will be more then him out there with the same thoughts.

[knapplc]

I don't know if the average citizen will retire early because of Obamacare but I know for a fact the some doctors will retire early (or earlier then they had planned) because of it since I was personally told by one this very thing. I'm assuming there will be more then him out there with the same thoughts.

 

Buddy of mine (doctor) is pulling his hair out over Obamacare. He's... displeased.

[carlfense]

I don't know if the average citizen will retire early because of Obamacare but I know for a fact the some doctors will retire early (or earlier then they had planned) because of it since I was personally told by one this very thing. I'm assuming there will be more then him out there with the same thoughts.

Buddy of mine (doctor) is pulling his hair out over Obamacare. He's... displeased.

From what I've seen, very strong opinions on Obamacare amongst physicians is highly dependent on age. How old is your buddy? The docs that I know who are over 50 think that it's going to be the end of the world and the doctors closer to my age are split roughly 50/50. The main complaints seem to be mandatory (basically) EMR adoption and some generally unattributed fear regarding salary.

[knapplc]

My buddy is early 40s. Same age as me, maybe a year or two younger.

[carlfense]

My buddy is early 40s. Same age as me, maybe a year or two younger.

Which part is he most concerned about? I'd ask his specialty but that might be getting too personal . . .

[knapplc]

Honestly, the part of Obamacare he's most concerned about is the OBAMA part. He's just a smidge conservative.

 

But last time I talked to him about it he was saying the costs were going to drive him out of practice. We didn't delve too deeply into the conversation - we both know where we stand on the issue, and it gets contentious.