Retirement conversations

Today, hubs and I had lunch with some long-time friends. They wanted to pick our brains about excursions offered by the Rocky Mountaineer. We’ve taken trips aboard the Rocky Mountaineer in both the USA and Canada. If they are only going to take one trip, our recommendation is to do the Canadian Rockies excursion from Banff/Lake Louise to Vancouver. They were planning to go in 2025. Now, my friend texted to say they’re going this year instead! Enjoy!

Photo by Ali Kazal on Pexels.com

Another conversation ensued regarding what we both do all day since we’re now retired. In our friends’ situation, the husband is retired and the wife is still working. Apparently, he’s bored and trying to figure out what to do. Al shared about volunteering with Team Rubicon. Our friend’s face lit up. His wife was happy to see him get excited about something. A mutual friend who retired at 54 advised my husband to always have at least one thing scheduled on the calendar each week, so he’d have something to look forward to. The rest of the week would fill in. Very wise advice.

I work part-time on Mondays and sew with friends on Fridays. Each week, there’s usually something Sadie related (therapy dog visit, groom, play date, hike with friends), quilt guild related and my sewing biz related. I try to keep at least one weekday completely clear for whatever I want to do. Sundays are usually reserved for family. The funny thing is no two weeks are ever the same.

Over the past month, I’ve spent a fair amount of time following up on my retirement application and health insurance matters. We’ve made the final hurdle into the “retiree” category on our health insurance. (Yay!) What no one tells you is that each transition (active employee – COBRA – retiree) requires a “new account” with the health insurance provider and there is a 7-10 day delay while everyone’s system updates. From what I understand, it’s due to COBRA rules and there’s absolutely nothing I can do to speed up the process. Hopefully, Anthem will show us with active coverage again by Friday. What if something happens before then? It’s a hassle, but we’ll have to pay out-of-pocket and get reimbursed or ask the provider to delay billing for a few days.

There’s a teacher retirement/health insurance FB group I follow. More than a few folks mentioned having to resort to getting an attorney involved to resolve issues with situations outside the norm (like mine). Hmmm. I looked into renewing my lapsed PAGE membership as their legal team are experts on dealing with SHBP and TRS issues. Turns out, my part-time employer is a participating “school system” in PAGE. You bet I renewed ASAP! To me, the $175.00 is money well spent as I navigate the next six months or so.

Then, I asked myself, “How did I ever handle all the crazy stuff like this when I worked full-time?”

Happy emails

On Friday, the email began “Dear Pending Retiree” and it made my day. Today, I received the official email notification to enroll in “pending retiree” health insurance benefits once our current benefits under COBRA expire at the end of February. You bet I completed enrollment shortly after receiving the email! I now have confirmation in writing that our existing health insurance will continue with no break in coverage. This is exactly what we needed to happen. Now, I’m just waiting on my letter with the new login details so I can set up the new account to pay premiums electronically.

Once my active employee – COBRA – state extended coverage – retiree journey is complete, I’ll write a detailed post to share with my fellow teacher friends on how to navigate the process. Once friends learned I was able to take my insurance with me to fill in the gap until retirement, two other teacher friends did the same thing. This option is available to any GA teacher/state employee who meets certain criteria and you can keep the insurance in place as long as you are willing to pay for it. Yes it’s expensive, but it was the only option for our particular situation unless I wanted to continue working full-time (nope). I was able to leave two years early and meet the requirement to keep my health insurance coverage active from last date of employment to my official retirement date. At that point, premiums will drop back to reasonable retiree rates. This has been the goal all along. I’m so thankful this option was available so I could join hubby in early retirement. We’ve had a blast!

Photo by Dids . on Pexels.com

Retirement planning is about more than just money

It’s about your happiness and ability to fully enjoy the free time you’ve worked so hard for and deserve.

Sure, having your money figured out is extremely important before you retire. However, knowing what you want your retirement to look like and setting those plans in motion before retirement is equally as important as the money piece – perhaps even more so as an early retiree.

Ask yourself:

  1. What do you really want to do everyday when you are no longer working?
  2. Who do you want to do these activities with?
  3. Where do you see yourself doing these activities?

Chances are, you have some interests that you’d like to pursue in retirement. Your “what” might be a continuation of activities/hobbies you already enjoy. This is a great starting point to begin replacing the social network (your “who”) that you currently have at your job. Even if you are an introvert like me who is easily “peopled out,” you still need some folks to hang out with on a regular basis. Humans are social creatures, after all. Remember, friends will come and go in your life. Most tend to stay for a season, some for several seasons and a few for what will seem like forever. Cherish these forever folks and stay invested in the relationship. Be open to meeting new people at most any time, even if it makes you uncomfortable. Some people think I’m crazy for attending quilt retreats where I don’t know a soul. It forces me out of my comfort zone and I get to meet some of the most interesting people. Finding your quilty tribe takes time, especially as an early retiree because most of your social circle is probably still working full-time.

Your “where” may or not be where you are currently living. Perhaps you want a smaller home in the same area or want to move closer to family. Full-time RVer? Get as far away from the big city as possible? It will be helpful to have some inkling of your future plans before you retire. For us? One level house – yes. Location? TBD. The area in which we currently live is convenient, but rapidly changing with lots of high-density development coming soon. We’d both prefer a little more room us and our neighbors and a lot less traffic.

And finally, always keep in mind that even the best laid plans are subject to change. Don’t fight any changes – embrace them. Life is richer when you do. I am still quilting, volunteering and even working part-time as I thought I might be – only those activities look different today than I expected them to do when I retired in May 2022. I wouldn’t have it any other way.

Sadie and I were at the IPPE 2024 expo this past week with 3 other therapy dog teams.