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In reply to the discussion: I retired a little over two years ago and I can honestly tell you this. [View all]Fritz Walter
(4,312 posts)Retired as soon as I became eligible for Medicare*. Way back when I was in my early 20s, all employees at my workplace were invited to a meeting about retirement savings. As cliche as it looks now, the speaker got my attention with one line:
Seniors struggling after retirement didnt plan to fail; they failed to plan.
That got me started. I did not want to spend my golden years pushing a cart up and down alleys salvaging cans and other metal. Started with $2 a pay-period; before I retired, I was putting 20% aside. Ended up with an IRA with a six-figure balance.
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*Was paying $800+ monthly premiums for crappy coverage, high deductible and high co-pays. Our nations workforce deserve better: better financial security, better health care, even if Elon Musk has to pay his own fair share!
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