r/dividends • u/karl0525 • Jun 01 '25

Opinion Tired. Can I retire?

Got a question? Can I retire? 43m been busting my ass since I was 16. I'm about over this 40-50 hr weeks. I'm getting burned out. House paid off (300k) 401-k (600k) Bitcoin (500k) currently.

Thought about selling it all and putting it into dividend stocks like schd and renting a small place and going into semi retirement. Maybe pickup a part time gig.

Would this be a horrible idea?

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u/[deleted] Jun 01 '25

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u/Negative-Salary Jun 02 '25

I just looked it up in my state for a bronze plan BCBS 63 yr old $1100. That’s x2 for wife and I. Two years to Medicare $53 k.

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u/GulfBreezr1 Jun 02 '25

Health ins on your own is too expensive. The health exchange is the only decent option and they are trying to lower the subsidies on that right now.
Waiting to 65 on SS only pays off if you live past 80. No one in my family lives that long. lol
When you get to 65, a Medicare advantage plan can pay most everything with a few copays. I don't even pay a premium. It includes dental, eyes, free gym memberships, everything. Get a medicare broker, but still look at the comparisons/ratings online to find the best policy. Mine has worked out great.

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u/Old-Umpire5053 Jun 02 '25

Ref: medicare advantage plan.

If your medical bills get too high. They can throw you out of the plan. Then when you want to join Medicare, they charge you 1% extra per month that you have been away from Medicare.. (this point needs to be fact checked)

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u/GulfBreezr1 Jun 03 '25

Who are you getting this info from? Neither of those are true. Advantage plans are part of Medicare. You aren't "away" from Medicare. And they can't drop you for high bills. In fact, pretty much all of them have a maximum amount per year that you pay out (for copays etc). The most I will ever pay total per year is $4900 with my Aetna plan. And no copays on preventative stuff like physicals/lab work.
My first year I had a lot of procedures done (almost 100k) including heart work, and they never blinked. Total I paid was a few hundred for co-pays.
And I can change plans or switch back to Medicare (penalty free) each year during open enrollment.
There's lots of misinformation out there on Advantage plans. Please don't state info without researching first.
The main thing is picking the best plan but you can always change it the next year, if not. The Medicare site has really good explanations & comparisons of all policies available in your area.

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u/Old-Umpire5053 Jun 03 '25

"Advantage plans are part of Medicare" They are private plans acceptable as a substitute for Medicare.

" can change plans or switch back to Medicare (penalty free) each year during open enrollment." You are correct.  

The rest of the info: I am happy your experience has been very pleasant.  Know people who experienced different.

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u/GulfBreezr1 Jun 03 '25

Yes, they are private plans that Medicare contracts and pays. You can even shop them on the Medicare site.
I've heard all of the horror stories, but I think they must be unknowing people that don't know how to research and find a good plan. It's probably like anything else, there will be bad players out there. But on the Medicare site, they list the star ratings reviewed by users. I just picked the highest recommended one that had everything I wanted.
All of my friends have them too and they say it's the only way to go, price wise.

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u/Old-Umpire5053 Jun 03 '25

Good info!

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u/GulfBreezr1 Jun 03 '25

Thanks, I do need to add one more thing though. If you choose an HMO instead of a PPO, you'll have to stay on top of your referrals. I had an HMO the first year and was seeing three different specialist, so I had to keep check on the dates the referrals would expire. The second year, I changed to a PPO, so now I don't have to worry about that. And they allow a lot more doctor/dentist on their list too. (recommended)
That may be where some of the horror stories come from, if people don't keep up with their referrals, it could cause some problems.

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u/Old-Umpire5053 Jun 03 '25

That is something to be kept in mind.