THANK YOU all so very much. This has been so incredibly helpful. I don't know enough how to quote different pieces of what everyone said.
Clarifying a couple things -
1. I do not own any property, so the $60k annually would include rent, utilities, I have a basic (but safe) car, general stuff like that. $25k for healthcare would be in addition to that.
2. I am not unhappy at work. I am fairly compensated and (imho) am good at what I do and it is rewarding generally. Part of what has made me good is that I've been willing to take risks and appropriately disagree when things didn't make sense. Like any work place, there are a lot of politics though I'm not burned out or anything. So over time will I find myself less effective as I may not advocate as hard for a position or my group because I don't want to ruffle any feathers? Before this my thinking was, I can always get another job if I get ousted or I can survive based on what I have. I am well liked at work, not universally of course, and still think I could find another job it's not that. It's just something that now is in the back of my head. The job comes with stress, but manageable. I wanted to have flexibility/options basically and if someone drove me crazy enough, ride off into the sunset. The other thing in this bucket is that it is very, very important to be highly effective in what I do. The organization broadly, those who support us, the team who works with me, and those whom we support all deserve that. So I've always wanted to make sure if there was a time when I didn't feel like I was the best person to be in this position that I didn't have something hold me back from making the right decision to move on. Sorry that's a lot, but there were some questions around this.
Here are new questions.
1. When it comes to my money in the HSA or Qualified Medical Expenses generally, if I am unemployed do my insurance premiums count? And what if I need to be in a long term care facility, could I use my HSA towards that cost? My intention is to keep maxing that out and not use the $ while it is invested.
2. Is there an equivalent to TIAA Traditional that I could put in my Taxable Brokerage? Is that the better place to have fixed income instead of my Retirement that is tax advantaged? I guess if it is paying dividends each year, maybe not.
3. Is $25k a safe estimate for what medical expenses would be on Medicare if I get a supplemental insurance policy with it? To include the premiums + any covered care? Meaning, should I be calculating $25k a year in medical expenses every year until I die.
I will be doing the following shortly.
1. Reviewing my employer's disability policy and FMLA. I took a quick look at this a couple weeks ago but need to get intimately familiar with it. Understanding how this and SSDI etc work are crucial. And knowing like Schuchong pointed out that I have to have been working 5 of the previous 10 years to qualify for SSDI, that impacts a full early retirement do nothing consideration.
2. Learn about TIPS. I know about I Bonds and started about a year ago buying $2,500 each quarter to max my $10k but for some reason felt like having them mature once a quarter could be advantagous vs once a year doing a lump $10k. I also overpaid my taxes so I could get a $5k I Bond and will keep doing this to get $15k in bonds each year. Should I look at E Bonds if I am wanting to ladder and will hold them for the amount of time needed for them to mature?
3. Revisit my legal documents around POA/healthcare. I put some of that into place last year but I told myself then it should be checked every year.
4. Adding needing to have two years of Custodial Care Rate funds set aside to my overall needs. Thats a hefty $360k chunk. I will try to have $375k for Medical needs for 15 years and $360k for that earmarked.
5. Really looking at the healthcare systems and resources in my area and seeing they can support this. I am in a metro area with good hospitals/systems but I need to really understand this deeply. Add to this longterm thinking about geography for a condition like this.
6. Really, really think about the ideal AA for me. What great advice from all of you as expected. Since I have practically 0 in the low risk category I will be pointing some in that direction, I just don't know how much yet.
7. More deeply understanding MS and working with my care team to get the full perspective on what may be coming down the line for me. Same goes with reading the MS forums out there and support organization materials. And not getting too far down the rabbit holes out there.
8. I guess it's time to make a bucket list. Again I'm so lucky. I never thought I would have a million dollars or have been to the places I have been. Watching that video about saturated fat did make me question all the steaks I have enjoyed though![:)]( "Smile")
Clarifying a couple things -
1. I do not own any property, so the $60k annually would include rent, utilities, I have a basic (but safe) car, general stuff like that. $25k for healthcare would be in addition to that.
2. I am not unhappy at work. I am fairly compensated and (imho) am good at what I do and it is rewarding generally. Part of what has made me good is that I've been willing to take risks and appropriately disagree when things didn't make sense. Like any work place, there are a lot of politics though I'm not burned out or anything. So over time will I find myself less effective as I may not advocate as hard for a position or my group because I don't want to ruffle any feathers? Before this my thinking was, I can always get another job if I get ousted or I can survive based on what I have. I am well liked at work, not universally of course, and still think I could find another job it's not that. It's just something that now is in the back of my head. The job comes with stress, but manageable. I wanted to have flexibility/options basically and if someone drove me crazy enough, ride off into the sunset. The other thing in this bucket is that it is very, very important to be highly effective in what I do. The organization broadly, those who support us, the team who works with me, and those whom we support all deserve that. So I've always wanted to make sure if there was a time when I didn't feel like I was the best person to be in this position that I didn't have something hold me back from making the right decision to move on. Sorry that's a lot, but there were some questions around this.
Here are new questions.
1. When it comes to my money in the HSA or Qualified Medical Expenses generally, if I am unemployed do my insurance premiums count? And what if I need to be in a long term care facility, could I use my HSA towards that cost? My intention is to keep maxing that out and not use the $ while it is invested.
2. Is there an equivalent to TIAA Traditional that I could put in my Taxable Brokerage? Is that the better place to have fixed income instead of my Retirement that is tax advantaged? I guess if it is paying dividends each year, maybe not.
3. Is $25k a safe estimate for what medical expenses would be on Medicare if I get a supplemental insurance policy with it? To include the premiums + any covered care? Meaning, should I be calculating $25k a year in medical expenses every year until I die.
I will be doing the following shortly.
1. Reviewing my employer's disability policy and FMLA. I took a quick look at this a couple weeks ago but need to get intimately familiar with it. Understanding how this and SSDI etc work are crucial. And knowing like Schuchong pointed out that I have to have been working 5 of the previous 10 years to qualify for SSDI, that impacts a full early retirement do nothing consideration.
2. Learn about TIPS. I know about I Bonds and started about a year ago buying $2,500 each quarter to max my $10k but for some reason felt like having them mature once a quarter could be advantagous vs once a year doing a lump $10k. I also overpaid my taxes so I could get a $5k I Bond and will keep doing this to get $15k in bonds each year. Should I look at E Bonds if I am wanting to ladder and will hold them for the amount of time needed for them to mature?
3. Revisit my legal documents around POA/healthcare. I put some of that into place last year but I told myself then it should be checked every year.
4. Adding needing to have two years of Custodial Care Rate funds set aside to my overall needs. Thats a hefty $360k chunk. I will try to have $375k for Medical needs for 15 years and $360k for that earmarked.
5. Really looking at the healthcare systems and resources in my area and seeing they can support this. I am in a metro area with good hospitals/systems but I need to really understand this deeply. Add to this longterm thinking about geography for a condition like this.
6. Really, really think about the ideal AA for me. What great advice from all of you as expected. Since I have practically 0 in the low risk category I will be pointing some in that direction, I just don't know how much yet.
7. More deeply understanding MS and working with my care team to get the full perspective on what may be coming down the line for me. Same goes with reading the MS forums out there and support organization materials. And not getting too far down the rabbit holes out there.
8. I guess it's time to make a bucket list. Again I'm so lucky. I never thought I would have a million dollars or have been to the places I have been. Watching that video about saturated fat did make me question all the steaks I have enjoyed though
Statistics: Posted by wobbly524 — Tue Jun 11, 2024 9:58 pm — Replies 19 — Views 3248