Preparing for Retirement

[dolphins4life]

I assume Medicare will go broke very soon.

If I want to retire and have health insurance, how much should have saved to cover my health insurance for my golden years?

I want to retire as soon as possible.  I have worked hard to try to achieve this goal.

Also, If you retire before 65, can you qualify for Medicare?

[Phishfan]

Medicare is strictly age based except for disability.

[Dave Gray]

Medicare isn't really something that can "go broke".  It's something that we choose to pay for.  I suppose we could stop paying for it, but it's not like it's a savings account.

In terms of retirement money, that's not really something we can answer.  You have to determine how much you make now and what kinds of things you will have in place (pension, Social Security....do you have any retirement savings invested currently).  There isn't really a direct answer from a bunch of bozos on the Internet.  You probably need to look online at some retirement calculators.


Do you currently have any 401K, state pension, IRA, etc?  Do you work somewhere that offers anything?  Matching 401K?  Do you take advantage of a ROTH?  If so, do you invest the savings?

[masterfins]

I assume Medicare will go broke very soon.

If I want to retire and have health insurance, how much should have saved to cover my health insurance for my golden years?

I want to retire as soon as possible.  I have worked hard to try to achieve this goal.

Also, If you retire before 65, can you qualify for Medicare?

No.  Medicare coverage does not begin until you reach age 65.  Depending on your State, and income, you may qualify for Medicaid.