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I am currently employed by the federal govt after 20 years in the private sector.

I am trying to make some long range decisions, since like you all here, I would like to experience another life that operates more in accordance with my own terms.

I like my job, but time marches on and we march with it. Sorry to get off on a philosophical tangent.

I am considering a second career in the healing arts (therapy, body work) at some point and that will mean a big downturn in income and some expenses related to re-training.

I can do some of the re-training while still in my current job.

Long story short - if I wait 8 more years to retire from the feds, I will be eligible to continue healthcare in retirement, at the same price, with the same benefits I received as a full time employee.

I have a good sized nest egg for someone in my position - but understand the entire egg could be wiped out by any serious illness - hence my concern over keeping a good healthcare plan in place. I think our current plan has a $4M cap.

Comments?

Thanks, RS
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Long story short - if I wait 8 more years to retire from the feds, I will be eligible to continue healthcare in retirement, at the same price, with the same benefits I received as a full time employee.

Healthcare is the single biggest factor in my own plans. Being able to extend current insurance during retirement or a second career sounds like a great buffer against possible future expenses. I'd be willing to wait a few years to lock that in.

HTH,

- HCF
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Moving Out of the Fast Lane won't do you much good if you must remain a slave to the medical/insurance/government triumverate.

I'm just sayin' ...

SB
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A critical question in your calculations is: how confident are you that the benefits you get from action X, won't be terminated or significantly decreased by the time you complete action X?

I have serious doubts that the retirement benefits of federal unemployment will remain unchanged for eight years. In particular I expect eligibility to be delayed and to require more actual federal employment, and medical-care benefits to decrease.

You of course get to decide if you agree with me, think retirement benefits will remain unchanged, or some third course...

... and then, what to do in response to whatever you decide is likely.
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Long story short - if I wait 8 more years to retire from the feds, I will be eligible to continue healthcare in retirement, at the same price, with the same benefits I received as a full time employee.

Healthcare is the single biggest factor in my own plans. Being able to extend current insurance during retirement or a second career sounds like a great buffer against possible future expenses. I'd be willing to wait a few years to lock that in.


I know the GOP is hot for dismantling Obamacare, but it's unlikely they'll get the 60 votes needed to survive a filibuster.

If Obamacare remains in place, even a millionaire retiree could get full health coverage for a few thousand dollars a year.

http://retireearlyhomepage.com/healthcarereform2.html

intercst
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Thanks for the feedback, yes, I was trying to also consider how the whole govt subsized healthcare package could also factor into this decision, looks like I can afford to wait that one out awhile, pun intended - lol.

I woke up in the middle of the night last night - with this whole thought process streaming in my head - and mind you, I consider myself a political independent:

In the early 80s, they took out their carving knives:

First, they came after the air traffic controllers union, which led
to an overall decline in unionization,
Next, they came after skilled and semi-skilled labor,
Then, they came after professional middle management & unskilled labor (giant sucking sound)
Then, they came after pensions & subsidized healthcare and similar employee benefits
Meanwhile, the cost of education and healthcare soared
Now, they are coming after public sector employees
Next, they will dismantle all social saftey nets.

All gains of the 20th century in America will be wiped out.

The rising tide kept the yachts afloat, but all the other boats have run aground.

RS
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Apparently, in the sheltered-from-reality life of a government employee there is no "Fast Lane". Only a "Special Lane", for government employees only.
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I don't know how many public employees you've been in contact with, but nearly all of the ones I know and have known, were hardworking and committed to serving the public good.

You might recall that for years, the salaries of public servants was backloaded - their salaries low, while benefits rich.

The only reason why the overall compensation of public employees is now so competitive, is because compensation in the private sector has fallen so far from previous levels.


RS
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