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Date: Fri, 28 Apr 2006 03:58:51 -0500
From: VanBret@gmail.com
Newsgroups: misc.invest.financial-plan
Subject: Re: Imminent Early Retirement - How to Proceed?
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Good point John, but Medical bills shouldn't be a huge problem, as long
as a retiree is getting Medicare parts a&b, plus a good supplement,
such as sup C or sup F. This would cover almost, if not all medical
expenses (but all of this does not apply until age 65, so keep that in
mind, especially for the purposes of this post).
And you are right, a retiree and/or senior, is not the "average"
person. In most cases they actually have less expenses, depending on
their life-styles. For a small example, not driving back and forth from
work every day saves not only gas money, but wear and tear on the car.
That can add up to significant savings. And that is just one example.
As we age (and retire), we tend not to "run and gun" as much as when we
are younger. We find hobbies that (sometimes) end up saving us money.
Taking trips to Vegas 10 times a year would not be one of those
hobbies, however!

But anyway, BRH, trust your instincts, but definately have a good plan
set up. As you retire, you might want to think about shifting your nest
egg into less/no risk investments. What's important is perserving the
retirement fund that you have worked so hard to make. You want you
money somewhere safe, and getting a competitive rate of return. Some
investments to consider would be fixed, and index annuities. They allow
you to pull money out each year (most do, at least), usually around
10%, and have a historical record of around 7% (index annuity) returns
on your investment. A lot offer up front bonuses of anywhere from
4-10%, instantly credited to you account. And, they grow tax defered.

Another thing to consider for down the road, would be long term care
(nursing home) insurance, to protect your assets, if (god forbid) you
or your wife ever had to be in a home, or have assisted living. Either
one can wipe out a nest egg in a matter of years.

These are all things you should keep in mind when planning to retire, I
hope at least some of this helps!

Good Luck, and Good Retirement!!

Bret Vanderplough
Senior Solutions Advisor
Vanbret@gmail.com

Bret Vanderplough
Senior Solutions Advior