No one saw that one coming. Suddenly, the next four years present increased uncertainty for those of us in the ‘States and to a lesser extent, the rest of the world.
Fact: I don’t like financial uncertainty.
When I first stumbled on the concept of early retirement, one of the issues that I was uncertain about was health care. While far from perfect, the Affordable Care Act (ACA) was a solution. My wife and I were even ACA participants for a year before she went back to work. At ~$700/month for a high deductible plan, the cost was high, but it was better than nothing. We also knew that the cost would go down when our income decreased in retirement and we’d become eligible for subsidies.
Donald Trump has vowed to dismantle the ACA. Perhaps he’ll replace it with something better. Perhaps health care costs will double or triple. Perhaps he’s full of shit and won’t do anything at all. I have no idea. And I don’t like it. I can’t account for the cost of health care, so how can I possibly know how much money I’ll need in retirement? Retiring now is suddenly more risky.
Without children, the story would be different. If costs went through the roof, my wife and I could pull up stakes and move to another country. However, I want to raise my children in the United States and the youngest is 7, so we have a way to go.
Since the first part of retirement is critical, I just can’t quit now.
Not all Bad News
The key to a successful early retirement is flexibility. To people who say this:
What if the stock market drops 50% the day after I retire?
Just go back to work.
Instead of going back to work, I’ll stay at work. The good news is that it will only be 3 days per week and I’ll have 12 weeks off.
I’ll reevaluate in late 2017. For now though, it’s one more year.
How about you? Have your plans been trumped? Am I worrying too much?
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