QUESTION:

Retiring too soon

If I retire at age 50, how will that effect the cost of my Medicare Plan B when I need it?
asked by sheryl, 7/6/2009
Categories: Medicare
ANSWERS:
Answered by: Editorial, 07/09/09
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I do not know for sure... However, I don't think that the ultimate cost of Medicare is impacted by the age at which you retire.

However, it is very important that you realize that you are not eligible for Medicare at all until you are age 65.

Also, please be sure that you have planned adequately for your retirement. Many people now live to age 90 and beyond. If you retire at age 50, then you will need to have saved adequately for the next 40 years or more -- longer than you have even worked.


Early retirement is not usually a good strategy. If you are retiring from a long held career, you might consider other lines of part- or full-time work to help bolster your finances.

If you are interested in learning more, please read:
Retirement Planning 101: https://www.newretirement.com/Services/Retirement_Planning.aspx

Social Security Optimization: https://www.newretirement.com/Services/Social-Security-Benefits.aspx

Retirement Jobs:
https://www.newretirement.com/Services/Working_In_Retirement.aspx

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Answered by: Bomar1224, 08/08/09
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As far as I know, you cannot receive medicare until you reach
retirement age; unless you have been granted a disability
retirement. If you are placed on disability retirement, I think
you would qualify for medicare.

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