24 replies to this topic

[cycletimer]

Like the first article:  https://firechecklis...insurance-pt-1/     I went on a tirade once again. 

  

 

I hope you find this informative, this subject is such a concern for so many of us, especially affluent traders like the great posters of this forum.  We either already or are planning an early retirement.  What the heck do we do about health care costs, prior to Medicare eligibility?  My response; it's very complex!

 

Here's the NEW ARTICLE:

 

https://firechecklis...insurance-pt-2/

[CLK]

There is no way out of this, either go back to work or expect to pay the 10k. If trading for a living you have to make at least around 15k profits

to get a 90% subsidy. I think if you don't make that minimum you get zero subsidy.

 

 

https://marketplace....s-as-income.pdf

[cycletimer]

For a family of two the modified adjusted gross income must remain < $39,800 in order to capture subsidies. It’s doable if one has zero debt. My problem is that I pay over $10k per year in property taxes which erodes my income. I plan on relocating, buying acreage in cash, and have goats on my property for the agricultural tax advantage. This will eliminate the montrous property tax bill and I can keep my passive income at a level that allows the subsidies. For living expenses and expensive vacations, I’ll pull from savings. This can work but it sucks I have to resort to all this B.S. in order to afford healthcare. As I mentioned in my posting, it took one president to Muck up everything (replace the M with an F!). The ACA is a FUBAR!

[Waver]

Think there will be a one-payer system in the next 5-10 years?

[cycletimer]

Think there will be a one-payer system in the next 5-10 years?

Yes. Honestly, and admittedly, I’m not a fan of socialism, I’m a proponent of Capitalism. Having said that, single payer may (or may not) be a remedy. I’ve researched it and spoken to Canadians and Europeans about it and there’s a huge question mark in my mind. Basically, for routine medical stuff it’s a viable option. For a needed surgery, with wait times, etc. only the people who can pay cash will have a timely surgery; so I’ve been told. Again, I question the system but what we have now sucks!

Former Louisiana Governor Bobby Jindel was an expert of healthcare and he had some sound ideas but...he’s no longer into politics so his ideas are out. I’m retiring in four years at age 55, regardless of my healthcare options. With the aid of my CPA we’ll figure out a way to make it affordable, as the system is “hackable” if you work it right. Someone earlier mentioned I’d need $15k in trading gains to afford healthcare on an annual basis. I’d say that’s not a problem or concern for just about every trader on this forum. If I can’t earn double or triple that in a year’s time then I’m wasting time following the markets. In early February I made $14k in call options in a matter of 40 minutes. I assume there are traders among us who’ve banked way, way more than me this year and they’re much better traders that I could dream of being (NAV for one!). I’m part time at best and I only place trades when risk/reward is very favorable. Most of the time I’m in cash and very patient. Back to healthcare, it’s my top concern.

[pdx5]

It is easier to drop all health insurance (there is no ACA penalty anymore) and stay healthy until age 65.

It is not hard at all to stay healthy under age 65. I am late 70's and still do not need a doctor. All it takes

is some form of exercise which one can do without getting bored. Mine is playing golf. And of course keep

your weight in the desirable range. 

 

I retired at age 57 because of health problems (fainting spells at work, rapid heart beat elevated

blood pressure, hip joint pain etc)

Retirement gave me the time to play golf 5 times a week, and my health took an upward leap.

My hip joint pain disappeared, my blood pressure dropped to under 130/85 from 150/90, and

I was no longer pre-diabetic.

 

People stay working too long, and die sooner than necessary. I find retired life is lot cheaper than

I had feared. I am living on less $$ than I was paying in income taxes before retiring.

The trick is stay healthy with regular exercise. 

Edited by pdx5, 22 June 2018 - 11:21 PM.

[CLK]

Cycletimer,

 

What I said about 15k from trading for a living, there is a lot to consider, when one no longer has a day job, the monthly expenses have to be

withdrawn from the trading account to live on, if you start off with 50k in the account then most of that is going to be gone by the end of the year

so you need to double your account to stay even for the next year, but with less and less money to trade with throughout the year because of

withdrawals it's going to be very difficult to reach the 100% gain when you are down to only 20k to work with. Most traders lose money, the

ones that don't, most don't beat the market, and the remaining few probably don't make more than 100% gain. So 100k or more would be best

starting off, but still no guarantee it won't be a bad year and actually lose money. One could also take big losses in the first half and have a

good second half and make it all back and a little more but still not meet the 15k minimum for the subsidy. I agree that patience is needed

to wait for good signals, but patience gets tested as the yearly clock is ticking and withdrawals are happening and it's been awhile since a good setup so one might feel under pressure to force trades that are 50/50 odds. I think 250k min. is more reliable but not many are going to have that much in early retirement. All this is under the parameters of a conservative position size trader, an aggressive size option trader could do better and could also lose a lot if not waiting for the right setups. I think the key is getting living expenses really low, no house or car payments.

Edited by CLK, 23 June 2018 - 07:33 AM.

[cycletimer]

CLK,
I get it, but I wouldn’t consider retiring (neither should anyone else) without being 7-figures liquid. I guess you assume many folks here are small traders. If you’ve read any of my blog posts, there’s a couple of posts where I took a screen shot and it revealed my trading account size. I won’t have a problem covering expenses; I hardly have any in the first place.

https://firechecklis...-perform-today/

https://firechecklis...-the-day-after/

[cycletimer]

It is easier to drop all health insurance (there is no ACA penalty anymore) and stay healthy until age 65.
It is not hard at all to stay healthy under age 65. I am late 70's and still do not need a doctor. All it takes
is some form of exercise which one can do without getting bored. Mine is playing golf. And of course keep
your weight in the desirable range. 
 
I retired at age 57 because of health problems (fainting spells at work, rapid heart beat elevated
blood pressure, hip joint pain etc)
Retirement gave me the time to play golf 5 times a week, and my health took an upward leap.
My hip joint pain disappeared, my blood pressure dropped to under 130/85 from 150/90, and
I was no longer pre-diabetic.
 
People stay working too long, and die sooner than necessary. I find retired life is lot cheaper than
I had feared. I am living on less $$ than I was paying in income taxes before retiring.
The trick is stay healthy with regular exercise. 

[cycletimer]

PDK,
Im a type 1 Diabetic on insulin. Im eztrenely healthy as Inexercise very intensely on a daily basis and I follow the Keto (zero carb) diet. Nonetheless I still need prescription meds and this would run me $700/mo. without insurance. No amount of golf or exercise will cure my diabetes. I need insurance. Going without Insurance wouldnt work for me.