No. of Recommendations: 6
The thing I don't see in your plan above is your plan for health coverage. How do you plan to cover the next 20+ years of medical expenses for the four of you before the toddler/kids get their own policies, and/or you qualify for whatever government senior insurance that's in place when you hit 67?

I ask because many family policies through a group (like through work) with a $2k deductible run over $1000 a month, and private individual policies are much more expensive, even with larger $10K deductibles, and one child developing a chronic condition or a serious accident for any of you could wipe you out financially in a matter of weeks. $12000+ a year is a big hit for your proposed withdrawal rate.

Does your planned budget account for that kind of variable and possibly escalating cash layout?

Living in the U.S. with a number of chronic health conditions, one of which magically appeared in my 20s, has made me incredibly paranoid about just up and retiring before I have some kind of guaranteed minimum catastrophic health coverage that can't be cancelled out from under me, even if I had $3 million in cash.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.