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How to Retire in Your 30s With $1 Million in the Bank

Discussion in 'TUG Lounge' started by RNCollins, Sep 8, 2018.

  1. bogey21

    bogey21 TUG Member

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    The alternative I chose to Long Term Care Insurance was to move into a CCRC (Continuing Care Retirement Community) when I reached age 65 (18 years ago). Contractually the CCRC is required to provide Assisted Living if/when I need it. My monthly fee includes an apartment, utilities, food, cleaning, etc. When I subtract the LTC premiums I don't have to pay and take into account that 25% of my monthly payment is tax deductible as Prepaid Medical Expenses I have both security and a bargain. The only downside is the Front End Fee I had to pay when I signed up but if I divide it by 18 (the number of years I have been here) it becomes relatively insignificant...

    George
     
    mpumilia and Panina like this.
  2. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    We've considered this, and for a while, if one is relatively healthy it would work. But if your medical care should be advanced, or acute, or you need medication supervision, It's beyond the scope of their ability. And cruise ship medicine is a 'for profit' undertaking, your Medicare insurance is not going to help you. Be sure to have a whole bunch of medical and evacuation/repatriation insurance coverage.

    Jim
     
    mpumilia likes this.
  3. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    North Florida
    Resorts Owned:
    HGVC x2 and Gatlinburg Town Square
    They should send you an EOB (Explanation of Benefits) with reasons stated.
    You might find it online. If you can decider it, it will tell you something like:
    ... (1) They don't cover "in house" labs, only "independent" labs.
    ... (2) Then want documentation showing it was medically necessary.
    ... (3) Coding error.
    You may have to ask the hospital to resubmit the claim.

    I heard a news story in which the President of the company was shown
    an EOB and asked to explain it... He could not and called someone for help.


    DW went thru that with Medicare becuz they thought she was covered
    under my old policy and we had prove to them that she'd been terminated.

    Please let us know.

    .
     
    Last edited: Sep 25, 2018
    mpumilia likes this.
  4. rapmarks

    rapmarks TUG Review Crew: Elite TUG Member

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    It is being looked into but they are not covering his lipid panel, he is on statins, his thyroid test, he had half removed, and everything else so has to be a coding error I hope. Then another hour on phone with company that supplies cpap and automatically charged our credit card $191 for a mask and then later submitted to insurance and charged him the copay also.
     
  5. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    HGVC x2 and Gatlinburg Town Square
    Having to deal with stuff like that is enuff to raise one's blood pressure.

    After DW was in the hospital for a TIA, she got a bill from some stray doc.
    We had to comb thru claim records to prove he'd been paid by insurance.
    <arrgh>.
     
    mpumilia likes this.
  6. NJDave

    NJDave TUG Member

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    There are other circumstances where you could take withdrawals at age 55 without incurring the penalty. This article may help.

    http://www.401khelpcenter.com/401k_education/Early_Dist_Options.html#.W6yof_ZFzDc
     
  7. geekette

    geekette Guest

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  8. Brett

    Brett Guest

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    Today the Wall Street Journal had an article on people that retire early
    Only five (5) easy steps !


    FIRE_WSJ_10_12_2018.jpg
     

    Attached Files:

  9. SmithOp

    SmithOp TUG Member

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    Costa Mesa, CA
    Resorts Owned:
    HGVC King's Land 2BR Premier 14.4K Points.
    Hah, in the 60s we called them hippies, now its WSJ fodder to live a minimalist lifestyle.


    Sent from my iPad using Tapatalk Pro
     
  10. Ralph Sir Edward

    Ralph Sir Edward TUG Member

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    Quite a hoot.
     

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