Pre-Retirement Planning

[galveston1]

spooner4 that's what I was hoping to hear. Thanks. I think it makes more sense to be in Florida while house hunting. And the other concerns I had are easily worked around.

[TheWall]

How much sick leave do you have saved up? Is it enough to burn while you house hunt and close in Florida, or do you plan on just selling it back?

You can't sell sick leave.

[Snoopy]

Good luck in Florida.

[omoade]

No problems with banks, since retired 13 yrs ago, purchased a Condo and 2 Homes in Florida, also purchased a home in New England, life is good..

I guess that would depend on the person - apparently, took time to lay the foundation for your situation, such as watching your credit history, having enough savings, etc.

[omoade]

How much sick leave do you have saved up? Is it enough to burn while you house hunt and close in Florida, or do you plan on just selling it back?

You can't sell sick leave.

Can you take sick leave for anything other than being sick?

[evilanne]

Sick leave can be used if you are sick, for doctor/dental appointments, care for sick family member, adoption or bereavement. For retirement purposes, your sick leave hours converts to additional time (174 hours = 1 month) in your calculation. It is calculated based on days but in the final calculation based on when you started work, retirement date and unused sick leave, it is based on full months or 30 day increments.

[ValleyGirl]

How much sick leave do you have saved up? Is it enough to burn while you house hunt and close in Florida, or do you plan on just selling it back?

You can't sell sick leave.

Can you take sick leave for anything other than being sick?

I know some people who do.

[Scorpio70]

Florida huh....Hurricanes, Tornados, Heat, Humidity, Bugs, Criminals preying on elderly, What's not to like? Seriously, having grown up in New York, and Florida I can see the appeal of moving down there to most people. I personally like Tennessee.

[crondanet5]

Any health issues to be concerned about?

[mindofmush]

Check out this link

http://www.myfederalretirement.com/publ ... 8-2019.cfm

for the HOW & WHY of maximizing your lump sum payment of annual leave. Even if you're retiring beyond 2019, there is lots of info for choosing a good date to maximize your benefits, including sick leave, for whatever year you plan to retire.

[Saipan]

Check out this link

http://www.myfederalretirement.com/publ ... 8-2019.cfm

for the HOW & WHY of maximizing your lump sum payment of annual leave. Even if you're retiring beyond 2019, there is lots of info for choosing a good date to maximize your benefits, including sick leave, for whatever year you plan to retire.

Good info. Thanks.

[sunnylee]

Florida huh....Hurricanes, Tornados, Heat, Humidity, Bugs, Criminals preying on elderly, What's not to like? Seriously, having grown up in New York, and Florida I can see the appeal of moving down there to most people. I personally like Tennessee.

I'm sure we could name e few dozen undesirable aspects for any region of the country based on one's personality or desires.

[crondanet5]

I know everything looks good retiring at age 62, but have you considered long term health care? 50% of retirees will need help sometime according to the CNBC.com article I just read. They discuss a different form of life insurance called hybrid insurance. You put a hundred thousand in now and withdraw as needed for health care, the rest apparently is returned as a death benefit. Might be something to look into.

[crondanet5]

Looks like comments are drying up. A while back when I was preparing to retire from the military I did a morbidity study of military deaths to determine how much life insurance I needed to support widow and 4 kids. Then a while after that I got interested in morbidity in my area. There was a local paper that provided male/female and age at death and it seemed like everyone wanted their obituary in the paper. So I tabulated data. Males have some hurdles in mid 40s mid 50s and mid 60s. I suspect coronary, cancer, other health issues in those age groups. Then things got busy 71-74. A lot of people die despite statisticians say more people are living into their 90s. Thoughts for you: find a good physician who orders a lot of bloodwork. Look for markers in the blood for any abnormalities. Manage your weight, alcohol and smoking. And I suggest a paleo diet. Wholefoods has a white sweet potato that is absolutely delicious. Two green vegetables. That sort of thing. Push your doctor to maintain your kidneys and liver. And if you have a bucket list prioritize it so you do the things most distantly mobile first in case your mobility drops. And I strongly support your decision at what age to retire. Figure out how to pay for Medicare until you apply for social security and it is an automatic withdrawal. If you can, take your current health care into retirement for the both of you and do not drop it when Medicare starts. You'd be surprised the cost of prescription copays without a secondary form of insurance.

[tmj500]

Many overlook LTC. It can be very costly.