What is your dream?

[Tjf1967]

Don't forget the Star program,

 

[Warp daddy]

Camp MOST people do not give ample credence to THAT fact . Relationships are often NOT easily established when one moves especially into a vacation area . Transients and locals OFTEN want their privacy and the other reality is sometimes the locals are cliquey as hell and or extremely narrow in their expectations of and for other " outsiders "

As far as familiarity conditioning attitude , be it beaches or mountains it becomes routine and the magic can wear off or at least be well " routine "

Not sure there is a magic bullet for retirement location , but my advice is DO THE RESEARCH , especially the off season AND KNOW THYSELF ?

 

[Warp daddy]

Don't forget the Star program,

Correctamundo TJ !!!

 

[JTG]

Good points all. With the Star program and my wife’s pension not being taxable in NY.....our overall tax burden may not be any higher in NY than it would be paying MA State tax on her pension?

In addition to making a trip up to Albany to do some NYSTRS planning...I need to sharpen the pencil and do some figuring.

 

[Tjf1967]

I will save you the trip. Take the widows option, men are a cheap add on. If you have medical conditions she can take the pop up. If she is maxing out contributions to her 403b at retirement her take home retirement wont be 10% different even factoring in the JT life option. You stay working for the health insurance until everyone is 65 and call it a day. Health Insurance is early retirement dreamers nightmare. Get the retirement handbook. They are like 30 pages long and most people don't have any idea they even exist.

 

[Warp daddy]

Good points all. With the Star program and my wife’s pension not being taxable in NY.....our overall tax burden may not be any higher in NY than it would be paying MA State tax on her pension?

In addition to making a trip up to Albany to do some NYSTRS planning...I need to sharpen the pencil and do some figuring.

Absolutely run several models with multiple assumptions( i ran 7 diferrent scenarios ) on both returns and inflationary trends .

Also take a very serious look at her pension options and Various spousal options

Another big point is if you want to be covered ob her retirement health insurance: REMEMBER to ASK FOR DUAL ANNUITANT coverage on HER retiremt health insurance coverage
THEY DONT TELL U THAT And its a huge hit otherwise

Then look at LONG TERM CARE seriously : ( i may be effings nuts but if Long term care insurance is a consideration it may well result annual premium explosion as Medicare will most likely be cut if Trump is reelected) we chose NOT to get LT care insurance but simply invested THAT premium in addition to our regular investment Strategy and with market advances over the past 25 years we are AHEAD of the game .....its a risk but many of my contemporaries made similar decisions .

Lots of data crunch , but forewarned is forearmed !

Good luck .....you GOT this

 

[Brownski]

Jeez, am I the youngest guy here at this point? Any dreams other then retirement? My dream is to start a second career as a screen writer. Any tips? My dream used to be to be a cowboy but I did that by age 25 (horse wrangler actually- close enough).

 

[Warp daddy]

TJ Is right , health insurance is a huge consideration

It WAS crucial to have coverage before i retired ., if that was not on the table i couldn't have made the early retirement work . Having a dad in the insurance industry i knew that annual inflationary costs in health care often exceeded the CPI so planned accordingly.

We were extremely fortunate , we BOTH had insurance coverage when i retired and my sick leave accruals over 3 plus decades were converted ro pay theEMPIRE plan premiums until we both qualified for Medicare. My wife also had her teachers health insurance till she went on my plan

Empire is now secondary insurance and we are still basically covered on a greatly reduced rate .

 

[Warp daddy]

Jeez, am I the youngest guy here at this point? Any dreams other then retirement? My dream is to start a second career as a screen writer. Any tips? My dream used to be to be a cowboy but I did that by age 25 (horse wrangler actually- close enough).

Yeh fuggidabout !! ?????? movies aint making a comeback hahahhaah until a vaccine happens, but IF u do , write comedy . The world needs to lighten up just sayin'

 

[Harvey]

Any dreams other then retirement?

I was thinking the same thing. Although I did start the thread off, so there is that. (Funny that with all those emojis there is not one for embarrassed.)

I guess it's easy to forget the dreams that have already come true. I've got a few of those too.