In 1992, I was medically discharged from the Military after 8 years and the VA gave me 100% disability. I voluntarily chose 60% so I could continue to work in the civilian sector. I took my monthly checks since 1993 and invested them in various things (401K and mutual funds, etc..) and did fairly well and I am planning on financially retiring next year (Fall 2007). I want to make sure I don't have to go back to work. Can anyone give me things to consider so that I am not jumping the gun too soon. I have enough to live comforatbly and think I have considered factors such as cost of living, medical insurance, etc... I just wonder if anyone else has done this brave move and realized they had not thought of a future expense. I inherited a house, so my mortgage is paid, and I can handle the property taxes. Also, can I still collect S.S.? (Providing it still exisits when I'm 65)?
Thanks
2006-10-06 08:18:38 · 5 answers · asked by triathalonkegguys 2 in Business & Finance ➔ Personal Finance
I have free VA medical for live actually.
2006-10-06 08:22:03 · update #1
I meant, for "life".
2006-10-06 08:23:14 · update #2
Go talk to a CFP (Certified Financial Planner). They will help you think it all through.
2006-10-06 08:29:41 · answer #1 · answered by morlock825 4 · 0⤊ 0⤋
Have you thought about long term care insurance. A nursing home could wipe out your savings in no time.
2006-10-06 15:20:38 · answer #2 · answered by mamatohaley+1 4 · 0⤊ 0⤋
Did you factor in hobbies or any other interest that might take up your time and or money? Maybe membership dues or fees for organizations you might belong to or might be interested in joining.
2006-10-06 15:58:26 · answer #3 · answered by BD in NM 6 · 0⤊ 0⤋
i cudnt be bothered 2 read that but my answer is 17
2006-10-06 15:26:11 · answer #4 · answered by The one and only jamie 2 · 0⤊ 0⤋
also home owners insurance...... and don't forget car insurance.
2006-10-06 15:22:26 · answer #5 · answered by mixemup 6 · 0⤊ 0⤋