# Retirement is 5-6 years away for us.



## flowergurl (Feb 27, 2007)

Unless something drastic happens our home will be paid off 10 years early. We currently only have 1 car payment and it should be paid off before retirement.
We don't have any other outstanding debts.
We are buying most the things we want to use for retirement now. Both useful items such as canning equipment and toys.
The plan is to move back to Mo and buy a small piece of property near our relatives there. So we can raise/grow most our own food needs.
DH is retired AF, so meds we can get on base free. 
We currently have tricare prime. I guess i need to look into what happens once we reach retirement age. I am assuming we will have to wade into the medicare minefield. I am so not looking forward to that.
Anyone here retired military that can give us some pointers?
Any other suggestions as we head into the home stretch?


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## mnn2501 (Apr 2, 2008)

Just keep plugging away, hopefully putting money in the bank - remember when you buy a new place there are always hidden expenses.


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## flowergurl (Feb 27, 2007)

Yup, we have a nice nest egg built up. Some of that can be used for the new place. 
I was just wondering if i was overlooking something important i should be making plans for?


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## Jokarva (Jan 17, 2010)

If you have zero debt and healthcare covered, then I'd say the basics are in place. Just beware that everything seems to take longer, cost more and be extra exhausting when you get retirement age. We had to revise many plans when the realities of age and fixed income hit us, but we took things slow and have done OK (so far) and I'm sure you will too.


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## flowergurl (Feb 27, 2007)

Jokarva how long have you been retired? Are you on a farm or a place in town?


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## Ranchermom (Oct 25, 2005)

We are almost in the same boat, we hope to retire in 5yrs we R debt free except our homestead we have about 3/4 of it paid off we will have income coming in but I worry about health insurance too. Have you found anything yet since you last posted this? My hubby will always have the VA but we all know how that is working out right now.


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## Fishindude (May 19, 2015)

I'm joining the retired crew soon myself. Another 1.5 years of full time work, then 5 years of part time till full retirement. Everything paid for and good nest egg built up.
Biggest challenge will be paying for health insurance for a few years out of pocket, but we are prepared for that.

Looking forward to the free time for lots more work around the farm, more hunting, fishing, etc.


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## emdeengee (Apr 20, 2010)

We have planned our retirement according to the research we did. I am retired but still work when I want. 

When we enter in to it completely we will have no debt (consumer, loan or mortgage). We will have a fairly new car and have completed all major repairs and renovations on the house and land. We will have a gross income from pensions and investments that is 70% of our working income. We will have 10 years of our working income saved. We will be as self sufficient as our physical abilities will allow. 

We are progressing very well but of course the completion of our plans depends on if my husband can stay the course - stay healthy and employed and if the crick don't rise any higher in the world financial mess. I will probably not be around for our retirement in 5 years but I do have insurance which will set my family up.


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## MoonRiver (Sep 2, 2007)

Look for a safe place to put your cash. Interest rates have been so low for the last few years that it is hard to find a place for your money where it at least keeps up with inflation. If you find something that pays a good dividend or interest, start putting some money into it now. You've got 5 years to find a good place or 2.

The problem many of us find is that the cost of things like food and healthcare (even on Medicare) go up faster than "inflation" does. The problem is not so much how it effects you in your 60's and 70's, but in your 80's and maybe even 90's. What will happen when you can't grow most of your own food?


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## poppy (Feb 21, 2008)

flowergurl said:


> Unless something drastic happens our home will be paid off 10 years early. We currently only have 1 car payment and it should be paid off before retirement.
> We don't have any other outstanding debts.
> We are buying most the things we want to use for retirement now. Both useful items such as canning equipment and toys.
> The plan is to move back to Mo and buy a small piece of property near our relatives there. So we can raise/grow most our own food needs.
> ...


I'm retired military. Unless it changed since I retired, at age 65 you go on Medicare and Tricare becomes your supplement which pays for meds and things Medicare don't cover. There is no cost for Tricare as a supplement.


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## Jokarva (Jan 17, 2010)

flowergurl said:


> Jokarva how long have you been retired? Are you on a farm or a place in town?


We both retired at 55 in 2011, moved to our retirement home in NC that we bought in 2005 and kept as a rental till we retired. Not a farm but not in town either, 10 acres halfway up a mountain. I'm only a pretend homesteader.

Since we're hoping this is our last home we did a lot while it was a rental, and more soon after moving in. New roof, generator, made master bath handicap accessible. Everything we do now is to benefit us in the future, from planting fruit trees to lessening the amount of lawn. But all this work to make our elderly years easier may just kill me now...so I won't have to worry about it, lol.


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## Jokarva (Jan 17, 2010)

emdeengee said:


> I will probably not be around for our retirement in 5 years but I do have insurance which will set my family up.


I recall you have a cancer history, but sincerely hope and pray this isnt the case.


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## emdeengee (Apr 20, 2010)

Jokarva said:


> I recall you have a cancer history, but sincerely hope and pray this isnt the case.


Thanks Jokarva - but I do have cancer however I am very lucky in that the treatments have extended my life and I hope that they will continue to do so for a while longer. Meanwhile enjoying life and although there is a reality to be faced we just keep moving forward. Who knows?


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## boolandk (Sep 20, 2003)

Keep plugging away at the savings. We retired 18 months ago and have never looked back. It is wonderful!


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